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ISLAMABAD: The spokesman of the Pakistan mission in Riyadh said on Thursday Saudi businessmen had shown “keen interest” in investing in Pakistan’s power, housing and hospitality sectors.
On August 9, the Pakistan Embassy convened a business meeting of Saudi and Pakistani investors based in ��������Ƶ with Pakistan’s ambassador to Riyadh, Raja Ali Ejaz.
Speaking about the meeting, embassy spokesperson Dr. Mudassar Cheema said: “They [Pakistani and Saudi investors] were interested to make investment in Pakistan in the sectors of housing, construction, hotel and hospitality and power generation.”
Cheema said the investors also spoke about problems they had faced in doing business with Pakistan, including with remittances and tax regimes.
“Post COVID, exporters faced many challenges including loss of contracts, lockdown and labor issues,” Cheema said in a phone interview, adding that the embassy would arrange online meetings between investors and Pakistani government departments and officials so interested business groups could learn about public sector organizations in Pakistan.
“The trade minister of the embassy will arrange online meetings of these investors with federal and provincial Board of Investments, Trade Development Authority, Faisalabad Investment Estate Development and Management Company and concerned Chambers of Commerce,” Cheema added. “To explore opportunities in [port city of] Gwadar, a meeting will be arranged with Balochistan Board of investment and other concerned people very soon.”
He also said the mission would arrange for business delegations from ��������Ƶ to visit Pakistan to explore opportunities at the earliest possible date.
“The ambassador, Raja Ali Ejaz assured full support and cooperation to investors from the Embassy of Pakistan,” Cheema said. “The ambassador has conveyed that post COVID, all Pakistanis must put efforts to regain market of ��������Ƶ.”
Chairman of the Pakistan Investor Forum, Raja Khalid, who was part of the delegation that visited the embassy on August 9, said the Pakistani government must clarify policies related to taxation and other incentives so that businesses could invest without reservation.
“Many businessmen, both Saudis and Pakistani origin, who have established businesses in the Kingdom wanted to invest, especially in the housing sector and Gwadar, but we need a clear picture regarding taxation and other incentives,” Khalid told Arab News. “We will follow up with the embassy regarding this as they promised to arrange our online meetings with relevant departments in Pakistan.”