RIYADH, APR 4, 2015 — Saudi investors and entrepreneurs are looking eastward and reaching out to potential partners in Pakistan as well as to Pakistani investors in the Kingdom.
The bilateral development comes in the wake of King Salman’s statement last month at a meeting with PM Nawaz Sharif in which the King particularly mentioned the need for increased interaction between the business communities of the two countries.
After the successful trip of a 40-member Saudi businessman’s delegation jointly led by Pakistan embassy and Green White & Green (GW&G) to Expo Pakistan in Karachi, a delegation of Saudi investors on Friday met with Punjab Chief Minister Shahbaz Sharif and expressed keen interest in putting money in energy, agriculture and livestock sectors of the province.
Talking to the delegation which was led by Vice Chairman Jeddah Chamber of Commerce and Industry Mazen Mohammad Batterjee, the Chief Minister said that there is a vast scope of investment in agriculture, livestock and other sectors in Punjab and Saudi investors can benefit from these investment opportunities. He said that Pakistan is one of the biggest countries with regard to its livestock production, reported The Nation.
Sharif further said that a delegation from Punjab representing energy, agriculture and livestock sectors will soon visit Saudi Arabia. Pakistani investors looking for partners in the kingdom have been visiting individually also, it has been reported.
Chairman Jeddah Chamber of Commerce and Industry Mazen Mohammad Batterjee expressed desire to invest in various sectors in Punjab. He said there is a need for effective measures for the promotion of bilateral cooperation in agriculture, livestock, energy and other sectors.
The Saudi-Pakistani delegation which participated in Expo Pakistan 2015 was also feted by Governor Sindh Ishrat ul Ebad and by the members of Board of Governor of Pakistan Engineering Council (PEC). GW&G team led by Pakistan Embassy Commercial Counselor Waseem Bajwa and Engr. Irshad Salim agreed with PEC top officials to cooperate and facilitate placement of Engineers in the Kingdom by holding Job Fairs. They also agreed to cooperate in holding Engineering & Construction Trade Show in the Kingdom to enable Pakistan design firms and construction companies, builders and design-build firms make forays in kingdom’s unprecedented construction boom.
Syed Qadir Shah, Chairman of PEC and Engr. Mukhtar Shaikh, Vice Chairman of PEC also held followup meeting with Engr. Irshad Salim, team leader of GW&G and CEO of Irshad Salim Associates. Mr. Shah and Mr Shaikh assured GW&G meaningful engagement without delay with opening a liaison office here. (MAMOSA Report)
The most recent development is part of the TECH PAKISTAN program launched last November by the Pakistan embassy to facilitate connectivity among Saudi and Pakistani investors, entrepreneurs, professionals and exporters. The embassy tapped several Saudi and Saudi-based Pakistani firms to assist. GW&G emerged as a joint initiative of Irshad Salim Associates, The Facts Works and Corporate Solutions Co.
In a short span of three months, the embassy program has executed three significant projects: holding of IT/Telecom Seminar; Publication of report on upcoming and ongoing mega projects in the kingdom, and participation of 40-member Saudi-Pak delegation to Expo Pakistan — all of which have yielded several B2B successes, it has emerged.