Saudi Gazette

JEDDAH — The Consulate General of Pakistan organized a media interaction session on Thursday with Saudi businessmen who visited Pakistan last month to explore investment opportunities in different sectors in the country.

The event at Marhaba Restaurant in Al-Hamra Corniche was attended by the Saudi delegates and representatives of leading electronic and print media as well as consulate officials and staff.

Saudi delegation included Talal N. Al-Saeeri and Abdul Jabar of CGM Co. KSA (a Saudi-Chinese-Pakistani consortium in collaboration with Ansam Co. KSA); Dr. Hammad Abdullah Al-Nadwi, chairman Future Orbit for Knowledge and Education; M. Abdullah Al-Zahrani of 26; and M. Hussain Al-Kamli, senior vice president, Zaman Al-Tasali Trading. Andy Liu, general manager CGM Corporation, and Ahmad Abdul Aziz Khairuddin Abdullah, general manager Al-Ahmad Computer Makkah, also attended.

Sharing his experience with the audience, Al-Saeeri said they had an excellent visit to Pakistan during which they finalized their plan to participate in bidding process of a Hydel Power Project in Azad Kashmir. He said they were also planning an FDI in Hydel Power Sector project on BOT basis. In addition, he said they would invest in infrastructure and mining sector projects in Pakistan.

Al-Nadwi said they are planning to invest in the education sector by opening a branch of Al-Waha International School in Lahore. They have incorporated their company in Pakistan for FDI in the education sector. “We plan to go ahead in collaboration with a Pakistani JV partner,” he said.

Abdullah Al-Zahrani of 26, a general contracting company in Saudi Arabia, said the visit proved very fruitful. He viewed southern Punjab as a potential investment market and said he decided to incorporate a company in Pakistan to participate in bidding for infrastructure and mining projects in that region of Pakistan.

Al-Kamli said experience showed him Pakistan had very optimistic economic future.

“Today’s Pakistan is a paradise for traders and investors. The expected GDP growth rate of around 6 percent during the current financial year provides a very healthy figure of Pakistan’s economy. It is a very sound situation for the investors who intend to invest in the country,” Al-Kamli said.

He said experience will dispel all misconceptions and once Saudi businessmen visit the country themselves, their perspective about Pakistan will completely change. He said his company would exploit the huge tourism potential of Pakistan.

All visiting delegates were very positive about their investment plans in Pakistan. They encouraged Saudi businessmen to look toward Pakistan as one of the best trade and Investment partner.

The Saudi business delegation visited Pakistan at the time of EXPO PAKISTAN 2017 in Karachi. In addition to Karachi, the delegation also visited Lahore and held a series of meetings with public and private sector representatives. They came back with very positive narratives about Pakistan.

Shahzad Ahmad, commercial consul, in his briefing said Pakistan and Saudi Arabia were putting joint efforts to increase and balance the bilateral trade volume through drawing common contours between Saudi Vision 2030 and Pakistan’s Vision 2025, supported by a new era of socio-economic development of Pakistan through China-Pakistan Economic Corridor (CPEC) and its allied opportunities.

He said the government of Pakistan plans to hold a Pakistan Investment Forum early next year to carry forward the journey of socio-economic development with mutual cooperation between the two brotherly countries. He said he was confident that Saudi Vision 2030 and Pakistan’s Vision 2025 would prove to be a gateway to improve Pak-Saudi bilateral economic relations making them partners in prosperity of each other.

Arshad Munir, consul (press), thanked the participants and media representatives.