Saudi Arabia made a significant statement, confirming plans to invest a stunning $25 billion in Pakistan, the country’s largest-ever investment from Saudi Arabia.
On Tuesday, Saudi Arabia made a significant announcement that boosted Pakistan’s economy significantly. The announcement of plans to invest a massive $25 billion in Pakistan represents Saudi Arabia’s largest-ever investment in the country.
The allocation of the sum is projected to have far-reaching consequences, potentially catalysing growth in a variety of industries in Pakistan, including mining, agriculture, and the information technology industry.
In a presentation to journalists in Islamabad, interim Prime Minister Anwar-ul-Haq Kakar claimed that Saudi Arabia aims to invest $25 billion in Pakistan over the next two to five years.
The caretaker PM stated that Saudi Arabia intends to engage in Pakistan’s mining, agriculture, and information technology sectors, increasing foreign investment in the country.
The Prime Minister emphasised that Pakistan’s mineral resources are worth nearly $3 trillion and that the caretaker government will complete the approval process for two state-owned energy companies in the next six months, while further discussions on the privatisation of another company outside the energy sector will take place.
According to the news agency Reuters, the $25 billion investment will become Saudi Arabia’s largest investment in Pakistan to date.