Saudi Crown Prince Mohammed bin Salman Set to Visit Pakistan
Sources indicate that Mohammed bin Salman has accepted an invitation from PM Shehbaz Sharif to visit Islamabad this month.
Long-Awaited Visit
The anticipated visit of Saudi Arabia’s de facto ruler, Crown Prince Mohammed bin Salman, to Pakistan holds promise for substantial investments from Riyadh. The last time the crown prince traveled to Pakistan was in February 2019. An intended visit in late 2022 had to be canceled due to scheduling conflicts amidst political transitions in Pakistan.
Invitation Accepted
Now, sources suggest that the Saudi crown prince has agreed to visit Islamabad at the invitation of Prime Minister Shehbaz Sharif, who recently made two visits to Riyadh. This visit comes at a crucial time for Pakistan, seeking to attract much-needed investment to bolster its economy.
Paving the Way for Investment
A significant precursor to the crown prince’s visit is a delegation of Saudi businessmen currently in Islamabad. They are engaging in discussions with their Pakistani counterparts to explore investment opportunities. Pakistan’s leadership, both civil and military, is actively pursuing strategies to attract investments, with the aim of revitalizing the economy.
Key Investments in Sight
Pakistan is targeting substantial investment from Gulf countries, particularly Saudi Arabia and the UAE. During PM Shehbaz’s recent visit to Saudi Arabia, Riyadh committed to expediting a $5 billion investment in Pakistan. This commitment underscores the growing economic ties between the two nations.
High-Level Engagements
In a testament to the seriousness of their intent, Saudi Arabia dispatched a high-powered delegation led by its Foreign Minister to Islamabad. The delegation, comprising key members of the Saudi cabinet, focused on initiatives aligned with Crown Prince Mohammed bin Salman’s Vision 2030.
Optimism for the Future
The Pakistani government is optimistic that the upcoming visit of the Saudi crown prince will materialize commitments into tangible investments. To sweeten the deal, Pakistan has offered attractive investment opportunities across various sectors, including agriculture, mining, energy, and more.
Addressing Economic Challenges
With Pakistan facing a balance of payment crisis, Saudi investments, alongside those from other Gulf nations, are seen as crucial for stabilizing foreign reserves and fostering industrial and economic growth. The government remains committed to leveraging these investments to drive sustainable development and prosperity for the nation.
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