During a meeting between FPCCI President Abdul Rauf Alam and Saudi Ambassador to Pakistan Abdullah Marzouk Al-Zahrani, it was decided that Pakistani businessmen recommended by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) will be given two-year multiple visas by Saudi Arabia. During this meeting, business community members of Rawalpindi and Islamabad were also present.
The ambassador told that Saudi Arabia is moving its economy beyond oil and they are trying to enhance cooperation with Pakistan in the fields of culture, trade and commerce that will provide great opportunity for Pakistani investors.
He told about the sectors in which Pakistanis can invest that include; processed food, agriculture, honey and beverages, solar & other renewable energy, oil, gas, petrochemicals, financial services, water and wastewater, education, mass transport infrastructures (rail, bus, metro), Human Capital Development, ICT, environmental technology, mining, Security Services, Consumer & Luxury Goods and Healthcare.
He assured that the Saudi Govt. will provide all the necessary facilities to Pakistani investors for establishment of their businesses in the kingdom.
Prior to that, FPCCI president told the envoy of problems of Pakistani businessmen that they face during visit to Saudi Arabia.
Alam told about the economic achievements of Saudi Arabia from 2003 to 2013 as it achieved 100% rise in size of economy, 75% rise in household income and created 1.7 million jobs. But now the kingdom can’t rely entirely on oil reserves due to continuous falling of oil prices.
In the past few years, many countries of Middle East were affected from political instability but stability remained in Saudi Arabia due to which it is a favorite place of business for foreign investors. He added that Saudi riyal is one of the most stable currencies in the world as it remained at almost the same rate since the past 30 years. This will help the businessmen to invest in the country without any fear.