ISLAMABAD: Saudi Arabia has expressed a strong willingness to engage in Pakistan’s mining industry, which offers a variety of investment prospects. The wish was conveyed by a Saudi Arabian delegation that met with Prime Minister Shehbaz Sharif in Islamabad and was led by Deputy Minister for Mining, Industries, and Minerals Khaled bin Saleh Al-Mudaifer, according to a statement from the PM Office on Wednesday. The Saudi minister praised the current administration’s investor-friendly policies, particularly the creation of the Special Investment Facilitation Council.
Speaking on the occasion, Prime Minister Shehbaz Sharif said that Pakistan provides immense investment opportunities to investors, particularly in the mining sector. He assured the delegation that not only the upcoming interim government but also the next elected government would keep on facilitating the investors.
The meeting came after Pakistan Tuesday organised first summit on minerals in Islamabad. The event was attended by foreign investors, diplomats, and other notable figures.
The summit was organized by the Special Investment Facilitation Council which was established in June to attract foreign investment.
Addressing the ceremony, the prime minister said Pakistan should learn from its “bitter experiences” of the past and follow the example of Middle Eastern states who had built and strengthened their economies by tapping their mineral wealth.
Countries like Saudi Arabia and the UAE had set an example for other countries, including Pakistan, by building on oil and gas resources, Sharif said.
Meanwhile, in a follow up tweet after the ‘Pakistan Minerals Summit’, in Islamabad, Prime Minister Shehbaz Sharif said the importance of mineral resources in national economies has increased manifold due to rapid developments in renewable energy technologies.
The premier said the summit highlighted the need for setting new target areas, improving exploration strategies and devising new methodologies for extracting minerals.
Meanwhile, Pakistan and Turkiye on Wednesday agreed to continue close coordination and engagement through well-established bilateral mechanisms to continue with the upwards trajectory of bilateral relations.
The bilateral relations were discussed in a meeting between Prime Minister Shehbaz Sharif and visiting Turkish Vice President Cevdet Yilmaz, after they jointly launched PNS Tariq Corvette.
The two leaders discussed wide-ranging issues encompassing bilateral relations, the regional situation and other areas of mutual interest.
Appreciating the strong bilateral cooperation, Prime Minister Shehbaz Sharif stressed the importance of transforming the brotherly relations into mutually rewarding trade and economic ties.
He underscored the importance of enhancing people-to-people contacts and joint collaborations in R&D, IT, energy, infrastructure, food security, tourism and mining sectors.
