Saudi Arabia made a significant announcement outlining its intentions to invest an enormous $25 billion in Pakistan, making this the largest investment the kingdom has ever made abroad.
The Saudi Arabian announcement on Tuesday gave Pakistan’s economy a significant boost. The announcement of plans to invest a staggering $25 billion in Pakistan represents Saudi Arabia’s largest-ever investment in country.
The distribution of the funds is anticipated to have wide-ranging effects and could spark growth in a number of industries in Pakistan, including mining, agriculture, and the IT sector, which Army Chief is also focussed on.
Anwar-ul-Haq Kakar, the interim prime minister, told reporters in Islamabad that Saudi Arabia plans to invest $25 billion in Pakistan over the next two to five years.
Saudi Arabia intends to invest in Pakistan’s mining, agriculture, and IT industries, which will boost foreign investment in the nation, according to the acting prime minister.
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This interim government will finish approving the privatization process for two state-owned energy companies in the next six months, the prime minister said, adding that further discussions will be held on the privatization of another company outside the energy sector. He stressed that Pakistan’s mineral resources are valued at close to $3 trillion.
The $25 billion investment will be Saudi Arabia’s largest in Pakistan to date.
