Saudi and Pakistani investors launch multi-million dollar fund

Saudi Arabian and Pakistani investors have agreed to establish a private equity fund valued at several hundred million dollars to strengthen bilateral commercial cooperation. The Saudi-Pakistan Joint Business Council (SPJBC) announced that private investors from both nations will contribute equally to the fund.

Three-quarters of the planned investments are earmarked for Pakistan, targeting sectors such as agriculture, mining, construction, energy, and information technology. The fund also intends to explore infrastructure assets in Pakistan, including airports, motorways, ports, and maritime projects. The remaining 25% of the capital will be allocated to projects in Saudi Arabia, including potential commercial investments in Makkah and Madina.

Prince Mansour bin Mohammad Al Saud, chairman of the SPJBC, stated that the initiative aims to convert previous discussions between businesses into tangible investments. Pakistani businessman Arif Habib noted that the agreement serves as a vote of confidence in the country's profitable investment opportunities.