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The Pakistan Embassy launched an investors’ secretariat in Riyadh to mobilize participation of Pakistani traders and entrepreneurs in the Kingdom’s booming economy.
Demonstrating a positive trend in Pakistan government’s business and commerce policy to export products and services and to mobilize overseas Pakistanis for investments back home, the launch program also highlighted outgoing Pakistani Ambassador Naeem Khan’s initiative to mobilize Pakistani traders and entrepreneurs for bolstering the ties between ��������Ƶ and Pakistan.
Giving one of his farewell speeches before he takes up his new position in the Organization of the Islamic Cooperation (OIC), Khan asked the newly formed secretariat to come up with research and business plans on potential investments by Pakistanis in the Kingdom's health, education and consumer sectors.
“Pakistanis are the most active community here and their country’s relations with the Kingdom are at their pinnacle,” said Khan. “It is the best of times for Pakistan in its bilateral relations with ��������Ƶ.”
The ambassador urged Pakistani businessmen to come forward to fulfill their social responsibility and help others in need as they have been doing in the past.
Waseem Hyat Bajwa, commercial counselor at the embassy, said on Tuesday: “Corporate Solutions, the local Pakistani-owned firm, will facilitate and provide the right environment for the germination of outgoing envoy’s vision and brainchild.”
Amir Shahzad, who manages Corporate Solutions, said: "The intent is to provide solutions to problems being faced by Pakistani investors here and to those Pakistani businesses who want to do business in the oil-rich Kingdom, which is diversifying its economy into health, education, infrastructure and renewable energy.”
Khalid Mehmood Chaudhury, chairman, Pakistan Investors Forum (PIF), reminded the 100 plus Pakistani entrepreneurs and community leaders present at the investors’ secretariat that they should demonstrate the highest level of professionalism and exhibit best business practices as being followed by others in the Kingdom.
Asghar Chaudhry, PIF president, promised to make the secretariat an incubator of business and investment ideas and models for the benefit of both the Kingdom and Pakistan.
The Pakistani investors in the Kingdom expressed gratitude to have a secretariat sponsored by the embassy and managed by a local firm, which provides corporate services and business solutions.
According to the embassy, about 1.5 million Pakistanis live in the Kingdom and send home an estimated $4 billion every year.
According to a report, the amount is expected to surpass $4.5 billion this fiscal year.
The program was also attended by Pakistani community leaders who congratulated the outgoing envoy, PIF and organizers for establishing the secretariat.
A dozen Pakistani health and pharmaceutical business houses that participated in the Saudi Health 2014 at the Riyadh exhibition center last week garnered some orders, including promises of investments from a couple of Saudis in the Pakistani health and pharmaceutical industry.