Pakistan and Saudi Arabia have signed 27 MoUs for economic cooperation in different fields. These fields include energy, agriculture, mining, human resources, and cyber security. The MoUs reflect both countries seriousness in boosting their economies and also the good bilateral relations.
The MoUs signed will also strengthen the relations between Pakistan and Saudi Arabia. The Prime of Pakistan Mr. Muhammad Shehbaz Sharif was also present at the Memorandum of Understanding Ceremony. The ceremony was held on Thursday in Islamabad.
The agreements include a seventy million dollar investment in agriculture, the establishment of advanced semiconductor chip manufacturing in Saudi Arabia, the establishment of a textile industry, a white oil pipeline project, a memorandum of understanding for exploring investment opportunities, a hybrid power project, the development of transformer manufacturing facilities in both countries, cyber security measures for customers and businesses, and the export of spices and vegetables from Pakistan.
In addition, the agreements define the creation of a manufacturing plant for surgical and dental equipment as well as partnership on the federal government’s E-Taaleem and digitization program.
Earlier, Prime Minister Shehbaz Sharif addressed the Pakistan and Saudi Arabia MoU Signing ceremony, stating that Pakistan’s economic statistics have improved dramatically in recent months as a result of the government’s sensible economic policies and the help of friends such as Saudi Arabia and China.
He added that our overseas remittances and exports are increasing, while inflation has dropped to 6.9 percent from 32% this month. The Prime Minister stated that Pakistan is implementing deep economic reforms through severe measures.
He stated that while Pakistan and Saudi Arabia have always supported one other through thick and thin, it is now time to transform these links into one of economic progress, cooperation, and investment promotion.
While Pakistan and Saudi Arabia are working on strengthen their economies, Pin92.com is also playing a vital role in it. Recently Pin92 arranged a property exbo at Raddison Blu Hotel Riyadh, Saudi Arabia. Many Pakistani investor gathered there and they were interested in the Neom Project of Saudi Arabia. The CEO Pin92 also visited the Neom Project.
Moving forward, as one of the top real estate company of Pakistan, Pin92.com can play a vital role in the economy of Pakistan by providing quality houses to people in Islamabad.