Saudi Arabia keen to invest in Pakistan’s mining sector

Saudi Arabia has shown a strong willingness to participate in Pakistan’s mining sector, which offers various investment prospects.

The wish was stated by a Saudi Arabian delegation led by Deputy Minister for Mining, Industries, and Minerals Khaled bin Saleh Al-Mudaifer, who met with Prime Minister Shehbaz Sharif in Islamabad on Wednesday, according to a PM Office statement.

The Saudi minister praised the current government’s pro-investor policies, particularly the establishment of the Special Investment Facilitation Council.

Speaking on the occasion, Prime Minister Shehbaz Sharif said that Pakistan gives huge investment prospects to companies, notably in the mining sector. He told the delegation that not only the upcoming interim government but also the next elected government would keep on helping the investment.

The meeting came after Pakistan hosted its first mineral summit in Islamabad on Tuesday. The event was attended by foreign investors, ambassadors, and other significant figures.

The Special Investment Facilitation Council, which was formed in June to promote foreign investment, organised the conference.

In his remarks at the ceremony, Prime Minister Nawaz Sharif said Pakistan should learn from its “bitter experiences” in the past and follow the example of Middle Eastern states that have created and strengthened their economies by utilising their natural endowment.

Countries like Saudi Arabia and the UAE had set an example for other countries, including Pakistan, by expanding oil and gas resources, Sharif added.

Meanwhile, following the ‘Pakistan Minerals Summit’ in Islamabad, Prime Minister Shehbaz Sharif remarked in a follow-up tweet that the importance of mineral resources in national economies has grown exponentially due to significant advances in renewable energy technologies.

According to the premier, the summit emphasised the importance of establishing new target areas, enhancing exploration techniques, and developing innovative mineral extraction methodologies.

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