Islamabad (TDI): Saudi Arabian Minister for Investment Khalid bin Abdulaziz Al Falih acknowledged the significant role played by Pakistan’s Petroleum Minister Musadik Malik in shaping the industrial landscape of Saudi Arabia.
Speaking at the Pak-Saudi Business Forum on Thursday, Al Falih revealed that Malik’s guidance on creating industrial clusters had been instrumental in the Kingdom’s industrial growth.
“Musadik Malik was a mentor to me, providing crucial insights on how to develop an industrial cluster. He was very humble when he referred to me as his boss, but it was he who taught me much about this art,” Al Falih said during his address.
He added that Saudi Arabia had implemented Malik’s recommendations, leading to the flourishing of its industrial sector.
“Today, our industrial sector is not only booming but is also one of the most competitive in the region,” he remarked.
High-Level Visit
The Saudi minister is leading a high-profile government and business delegation that arrived in Pakistan on October 9 for a three-day visit, aimed at bolstering economic ties between the two nations.
The visit culminated in the signing of 27 Memorandums of Understanding (MoUs) worth $2.2 billion across various sectors, including industry, agriculture, IT, health, and energy.
Prime Minister Shehbaz Sharif, accompanied by Chief of Army Staff General Syed Asim Munir, witnessed the signing ceremony alongside the Saudi delegation.
Also Read: Pakistan, Saudi Arabia Sign MoUs Worth $2.2bn in Various Sectors
Addressing the gathering, PM Shehbaz hailed the visit as a testament to Saudi Crown Prince Mohammed bin Salman’s commitment to strengthening bilateral relations.
“The visit of the Saudi delegation, led by Khalid bin Abdulaziz Al Falih, is a reflection of the deep affection and sincerity that exists between our two nations,” the prime minister stated.
He assured the Saudi delegation of Pakistan’s resolve to transform these MoUs into formal agreements through dedicated efforts.
Among the key agreements are a $70 million investment in Pakistan’s agriculture sector, the establishment of advanced semiconductor chip manufacturing facilities in Saudi Arabia, a textile industry, and a white oil pipeline project.
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The two countries also agreed to explore investment opportunities in renewable energy, manufacturing, and cyber security, while collaborating on the federal government’s E-Taaleem and digitalisation programmes.
The agreements also include setting up manufacturing facilities for surgical and dental equipment, and promoting exports of spices and vegetables from Pakistan to Saudi Arabia.
