RIYADH: Prime Minister Shehbaz Sharif on Tuesday touched down in Riyadh to participate in the 8th edition of the Future Investment Initiative (FII), held under the patronage of the Custodian of the Two Holy Mosques, King Salman Bin Abdulaziz Al-Saud.
According to an official statement, Deputy Governor of Riyadh Province Prince Mohammed bin Abdulrahman bin Abdulaziz warmly received the premier at the Royal Terminal of King Khalid International Airport.
The ambassador of Pakistan to Saudi Arabia and senior Saudi officials were also present at the airport.
PM Shehbaz will participate and address the plenary session of the investment moot which will be held at the King Abdulaziz International Conference Center from October 29-31.
The Future Investment Initiative (FII) serves as an important platform for countries to showcase their economic strength, draw foreign investments, and engage in dialogue to shape a sustainable future.
This year’s FII is themed “Infinite Horizons: Investing Today, Shaping Tomorrow” and will focus on global investments aimed at addressing major issues such as artificial intelligence, robotics, education, energy, space, finance, healthcare, and sustainability.
The premier is also expected to call on the Crown Prince and Prime Minister Mohammed bin Salman Al Saud as well as other senior Saudi leadership.
After his arrival, PM Shehbaz took to X saying, “Just landed in the beautiful city of Riyadh at the invitation of my brother HRH Crown Prince Mohammed bin Salman to participate in the 8th Future Investment Initiative Conference.”
He said that he looked forward to attend this impressive gathering of political, business and corporate world leaders to shape a better future for all.
The prime minister said that in his meetings with the Saudi leadership, he would reaffirm our common desire to further cement Pak-KSA ties through robust and mutually beneficial partnerships in trade and investment.
Earlier this month, Pakistan and Saudi Arabia inked several memorandums of understanding (MoUs), worth over $2 billion, to boost bilateral trade and investment during the Islamabad visit of a Saudi delegation, headed by Minister for Investment Khalid bin Abdulaziz Al-Falih.
The Khalid-led delegation comprised Saudi companies from various sectors including construction, engineering, financial services, IT, hospitality, agriculture, food, energy, and petroleum are part of the visiting delegation.
The agreements include a $70 million investment in the agriculture sector, the establishment of advanced semiconductor chip manufacturing in Saudi Arabia, the establishment of a textile industry, a white oil pipeline project, an MoU for exploring investment opportunities, a hybrid power project, development of transformer manufacturing facilities in both the countries, cyber security measures for customers and businesses, and the export of spices and vegetables from Pakistan.
Additionally, the agreements outline the establishment of a manufacturing facility for surgical and dental equipment and collaboration on the federal government's E-Taaleem and digitalisation programmes.
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