Saudi Vision 2030 opens new trade avenues

ISLAMABAD:

Senate Deputy Chairman Syedaal Khan Nasir has said that brotherly relations between Pakistan and Saudi Arabia are built on a solid foundation of faith, mutual trust and shared progress.

He emphasised that the Saudi Vision 2030 had opened new horizons for global investment and private-sector growth, offering immense opportunities for the Pakistani business community to capitalise on the opportunity. He expressed these views while speaking at the "Saudi Company Formation and Business Expansion Summit 2026", organised by the Al Raee Group in Islamabad.

The Senate deputy chairman termed the event a vital initiative to bolster economic connectivity and give a new dimension to bilateral trade and investment.

Speaking on the occasion, Al Raee Group Chairman Bilal M Zubair highlighted Saudi Arabia's business-friendly policies, saying that under the Saudi Vision 2030, the kingdom offered 100% foreign ownership, simplified banking channels and removed the minimum capital requirement for various business activities to create an ideal corporate environment.

He elaborated that any private limited company or partnership firm from Pakistan operating for at least one year could seamlessly expand into the fast-growing Saudi economy by submitting key documents, including the Certificate of Incorporation and the audited financial report.

A major highlight of the summit was the signing of memoranda of understanding between the Al Raee Group and heads of 12 prominent Pakistani companies. Under the agreements, these enterprises will launch operations and make large-scale investments in Saudi Arabia.