New Saudi investments flowing into oil, mining sectors: Pakistani finmin

Muhammad Aurangzeb Pakistan’s Minister of Finance and Revenue

Pakistan’s Minister of Finance and Revenue Muhammad Aurangzeb said that economic relations with Saudi Arabia are witnessing continuous development, with Saudi investments flowing into the country’ strategic sectors.

The coming period is expected to see more bilateral government investments, he said.

Speaking to Argaam on the sidelines of the AlUla Emerging Markets Conference, the minister said that Saudi investments have increased in Pakistan, as two recent deals were concluded between Saudi Aramco and Pakistani companies in the oil and gas sectors.

There are three main sectors with great potential that can boost cooperation between the two countries. The first is mining, where discussions are focused on investment in the copper sector, the agricultural sector and food security, as well as technology and digital services, said Aurangzeb.

He revealed that the Al Baik restaurant brand is preparing to enter the Pakistani market.

The minister pointed out that about 100 Pakistani technology companies participated in the Leap 25 conference in Riyadh, exploring opportunities for expanding  and cooperating  technological services to the Kingdom.