During a busy weekend of work, Pakistani Prime Minister Shehbaz Sharif successfully garnered new investment assurances from Saudi Arabia. His proactive approach earned him high praise from Saudi officials, who referred to him as “a man of action.”
Prime Minister Sharif was in Riyadh for a special World Economic Forum meeting and held individual meetings with key Saudi figures including Crown Prince Mohammed Bin Salman, Investment Minister Khalid Al-Falih, Finance Minister Mohammad Al Jadaan, and Industry Minister Bandar bin Ibrahim Alkhourayef on Sunday.
At a formal dinner, PM Sharif expressed his gratitude to the Saudi Crown Prince for sending a significant delegation to Pakistan, led by Foreign Minister Faisal bin Farhan bin Abdullah. He highlighted that he reciprocated by bringing a high-level Pakistani delegation to Riyadh to facilitate continued discussions and subsequent meetings between officials.
Saudi Investment Minister Khalid Al-Falih commended PM Sharif for his dynamic leadership and operational speed, stating, “We are all aware of your performance and speed of work… Your mission is our mission.” Finance Minister Mohammad Al Jadaan announced that a team of Saudi investors would be visiting Pakistan soon, underlining Pakistan as a priority investment destination for Saudi Arabia in agriculture, IT, and energy sectors.
Additionally, during his discussions with Saudi Industry Minister, there was a mutual interest in cooperation across various sectors including agriculture, mining, and IT. The Minister revealed ongoing talks with private Saudi companies about investments in Pakistan, with visits from company representatives expected shortly.
In his engagement with IMF Managing Director Kristalina Georgieva on the sidelines of the World Economic Forum, PM Sharif reiterated his government’s dedication to stabilizing Pakistan’s economy. He outlined the steps his administration is taking, including structural reforms and fiscal discipline, to promote macro-economic stability and sustained growth. He also thanked her for the IMF’s support in securing a $3 billion Standby Arrangement for Pakistan.
PM Sharif also met with the Emir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, to discuss strengthening bilateral economic ties. Both countries had previously signed several MoUs to enhance trade and investment in November 2023, which PM Sharif committed to implementing effectively.
Moreover, during a session on global health, PM Sharif emphasized the need to address global inequalities in healthcare and advocated for reducing disparities between the global south and the north.
