Riyadh's Vision 2030 presents
abundant business opportunities
Saudi Arabia's Vision 2030 opens up substantial avenues for Pakistani sectors such as construction, infrastructure development, engineering, food, information technology, and more. These opportunities must be harnessed through determined efforts.
Fahad Chaudhry, Trade
Development Officer at the Pakistani Consulate in Jeddah, shared these insights
during a discussion with Acting President of the Lahore Chamber of Commerce and
Industry (LCCI), Zafar Mahmood Chaudhry, on Wednesday.
Fahad emphasized that
Saudi Arabia has initiated an extensive array of development projects valued at
$3 trillion under Vision 2030, with completion expected by 2030.
"This presents a
distinctive window for Pakistani entrepreneurs to participate in Saudi Arabia's
thriving economy," he stated.
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Recognizing the significant potential for expanding bilateral economic ties, he urged Saudi businessmen to explore investment opportunities in Pakistan across various industries.
Describing Saudi
Arabia as a vital trading partner, Zafar stressed the importance of proactively
discovering new avenues for trade promotion.
"We believe that
trade delegation exchanges are among the most effective strategies for
enhancing commerce," he emphasized. He added, "We need to identify
domains for potential joint ventures. Pakistan possesses the workforce, land,
and technology. Collaborating with our local industrialists could yield
mutually beneficial outcomes if Saudi investors team up."
Zafar highlighted the
substantial contribution of remittances from Saudi Arabia to Pakistan's balance
of payments position.
In bilateral trade,
Pakistan predominantly imports oil and oil products from Saudi Arabia,
constituting 90% of its total imports from the kingdom.
Source: APP
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