Middle East

Saudi Arabia hailed for $20bn investment in Pakistan

Riyadh, Mar 14 (Arab News): Pakistani Foreign Minister Shah Mehmood Qureshi has hailed multi-billion-dollar Saudi investments in his country as a major boost to economic stability.

Speaking at a top-level summit of business leaders in Islamabad, Qureshi praised the Kingdom’s support for Pakistan and recent decision to pump $20 billion into development projects there.

The minister described the Saudi investment as an important event for Pakistan toward achieving economic stability and its ambitious development goals.

Qureshi told summit delegates that Pakistan was a peace-loving country that sought cooperation with its neighbors to bring social and economic security to the region.
He said peace was vital to ensuring regional development and prosperity, stressing that Pakistan was focused on economic diplomacy to address current global challenges.

During his address, Qureshi pointed to the establishment of special economic zones within the framework of the China-Pakistan Economic Corridor project (a collection of infrastructure programs throughout Pakistan), which would encourage investment in Pakistan aimed at promoting sustainable development and economic stability.

On security matters, he said Pakistan faced challenges on its western border with Afghanistan and tension on the eastern border with India, noting that Pakistan’s neighbors were trying to distort its image to the international community in order to undermine its economic successes achieved through international cooperation.

Qureshi added that Pakistan was doing all it could to facilitate the peace process in Afghanistan and stressed the importance of dialogue with India to find ways of resolving all outstanding issues.

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Title : Saudi Arabia hailed for $20bn investment in Pakistan


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