Karachi, Leading investor and former president of the Islamabad Chamber of Commerce and Industry (ICCI), Sardar Yasir Ilyas Khan, announced that Saudi investors are poised to make substantial investments in Pakistan, particularly in the agricultural sector. This development comes as part of a broader effort to strengthen economic ties between Saudi Arabia and Pakistan, with a focus on joint ventures and enhancing local investor confidence.

According to Council of Economic and Energy Journalists, during a reception honoring the visiting delegation, Sardar Yasir Ilyas Khan highlighted the significant potential for Saudi investments in sectors such as agro-based products and meat exports. He pointed out challenges such as high production costs and currency devaluation that impact foreign investment. To attract and secure foreign capital, he suggested that the government should consider tax exemptions for foreign investors and provide mechanisms for local financing.

The discussion also covered the strategic moves by the Pakistani government to facilitate these investments through the Special Investment Facilitation Council (SIFC), offering one-window operations and regulated land acquisitions to prevent speculative holding. Sardar Yasir emphasized the need for Pakistan to upgrade its agricultural infrastructure, including cold storage facilities, to reduce waste and boost exports, particularly of unique fruit varieties like mangoes.

The recent interactions between Saudi and Pakistani governments were credited with reinvigorating the investment landscape, with Saudi Arabia’s Vision 2030 and its extensive tax incentives, such as those in the Neom project, serving as a model for potential economic reforms in Pakistan.