Saudi foreign minister sees significant investment opportunities in Pakistan

ISLAMABAD: Saudi Arabia’s Foreign Minister Prince Faisal bin Furhan Al Saud on Tuesday said that Pakistan has significant investment opportunities in a multitude of sectors.

At a joint press conference with Foreign Minister Ishaq Dar at the Ministry of Foreign Affairs in Islamabad, he said that Pakistani officials presented a broad presentation on several strategic areas. However, he declined to disclose the targeted sectors.

“This gave us some significant confidence that we will be able to move forward on those projects that we decide to identify as worthy of investment,” Al Saud added.

Pakistan has significant investment opportunities in a multitude of sectors, he said, adding that Saudi Arabia will be moving ahead on all those projects.

He went on to add that the kingdom was grateful to the Pakistan expatriates for their contributions in building Saudi Arabia.

“With the initiatives of the government, we hope that we can add additional value for both of our countries in that regard,” he added.

Al Saud said that the international efforts for a ceasefire in Gaza were insufficient as over 33,000 civilians have been killed.

“We are now actively discussing the potential for famine in Gaza that means people are starving to death because humanitarian assistance is not getting to them. This is unacceptable situation,” he added.

According to the Saudi foreign minister, the situation in Gaza was a complete failure of the international system and international governments to live up to their responsibilities.

He urged for an immediate ceasefire in the besieged strip, saying that there was no justification for the restrictions on humanitarian aid entering Gaza.

“It is a reality that despite two UN Security Council resolutions, we have not seen sufficient aid entry,” Al Saud added.

He mentioned that the issue of letting aid reach the Gaza Strip has been addressed. However, he lamented that the development came after six Western aid workers were killed by Israel.

“It didn’t happen after 33,000 Palestinians were killed. So, this shows you the continuing double standards we have to deal with and live with,” the minister said.

Foreign Minister Ishaq Dar said that such a high-level Saudi delegation has not visited Pakistan in the last 35 years.

“We had comprehensive discussions covering various aspects of our multifaceted cooperation,” he added.

The visit provided the Saudi delegation with a first-hand experience of the Special Investment Facilitation Council (SIFC) aimed at promoting foreign direct investment in the country.

He expressed hope that the briefing on several sectors will highlight the investment opportunities in Pakistan.

On the Gaza war, Minister Ishaq Dar shared the feelings of the Saudi foreign minister, saying that the two countries have talked about the issue.

“I think it is time that this genocide must end,” he said while urging for unconditional and immediate ceasefire in Gaza.

He also called for holding Israel accountable for its actions in Gaza, saying that the issue will only be solved with the formation of a Palestinian state.