Pakistan, Saudi Arabia investors launch fund to boost trade, investment

The Saudi-Pakistan Joint Business Council launched a private equity fund on Monday to support trade and investment between the two countries, Dawn reported. Its opening size is described as “multi-hundred million”, with the amount expected to grow as investment opportunities emerge. Three-quarters of the fund is allocated to Pakistan, while the remainder is intended for projects in Saudi Arabia.

The initiative follows discussions on expanding bilateral economic ties, including Saudi interest in Pakistani agriculture, ports, roads, airport outsourcing, real estate, energy, power distribution and information technology. The two countries also agreed in August to raise Pakistan’s agricultural and food exports to Saudi Arabia to $3 billion, while Pakistan has invited Saudi investors to join major highway projects, including the Sukkur-Hyderabad Motorway. The fund’s planned allocation makes Pakistan the main destination for its initial investments.