A “high-level” business delegation of Saudi Arabia arrived in Pakistan on Sunday (today) to explore investment opportunities as the South Asian country seeks to boost bilateral ties.

“The Saudi deputy investment minister is visiting Pakistan tomorrow [Sunday],” Petroleum Minister Musadik Malik, who is also the focal person for Saudi-Pak bilateral collaboration, told reporters at a press conference in Lahore on Saturday.

“He is bringing representatives from 30 to 35 companies whose CEOs are coming here.”

According to Aaj News, a three-day Pakistan-Saudi Arabia investment conference would begin in Islamabad on Monday.

Earlier this week, Information Minister Attaullah Tarar informed the media about such a development and added that the visiting delegation has made a comprehensive plan for the investment in the country’s private sector.

Last month, a delegation comprising 100 members visited Pakistan with a focus on enhancing bilateral ties.

Saudi Foreign Minister Prince Faisal bin Farhan Al Saud had said he was “confident” that his Pakistan visit would deliver “significant benefits” for the two countries in the upcoming months by realising the potential of untapped economic development.

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“We were extremely impressed by the very proactive attitude that we saw in our meetings, especially with the [Special] Investment [Facilitation] Council,” he said at a joint press conference alongside his Pakistani counterpart Ishaq Dar in Islamabad on April 16, 2024.

Malik said the two sides discussed a new refinery project during the recent engagements that would be used for export purposes to earn foreign revenue. Additionally, food security was also discussed to further strengthen Pakistan’s agricultural sector.

“That is why Saudi investors have been invited to come here. They will sit with Pakistani companies and figure out ways to connect the Pakistani talent with the capital and investment needed at the international level for the IT revolution,” he said.