Shehbaz, MBS meet in Riyadh: Saudi Arabia’s role central to Pakistan’s economic plan, says PM

RIYADH: Prime Minister Shehbaz Sharif on Tuesday highlighting the importance of deep-rooted brotherly relations between Pakistan and Saudi Arabia, appreciated kingdom’s support for the economic revival and stability.

The prime minister met with Saudi Arabia Crown Prince and Prime Minister Mohammed bin Salman (MBS) on the sidelines of the eighth session of the Future Investment Initiative (FII) in Riyadh, PM Office Media Wing said in a press release.

The two leaders took stock of the ongoing bilateral engagements, especially in follow up to the decisions taken in previous high-level meetings held in Makkah and Riyadh in April.

Apprising the crown prince on the government of Pakistan’s economic, institutional and policy reforms agenda, the prime minster said that the kingdom had a central role in Pakistan’ future economic plans.

The prime minister appreciated Saudi Arabia’s efforts to promote regional peace and stability in the Middle East and reiterated Pakistan’s unwavering commitment to standby the kingdom in these efforts.

The two leaders exchanged views on regional developments and agreed to closely coordinate positions on regional issues. The prime minister conveyed best wishes for the health and well-being of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud.

Separately, on X handle, the prime minister posted that he had the honour of meeting the crown prince along with his delegation. “Conveyed my deep gratitude for the kingdom’s valuable support to Pakistan in securing the IMF (International Monetary Fund) program.”

The premier said that Pakistan’s ties with the kingdom are historical and time-tested. “Thanked him for his gracious hospitality. Pakistan’s ties with Saudi Arabia are historical and time-tested. During our very productive talks we reviewed the progress in Pakistan-KSA relations across multiple sectors and reaffirmed our commitment to strengthening bilateral ties, particularly in areas such as trade and investment, culture, innovation, technology, and beyond,” he further posted.

Meanwhile, addressing the FII plenary session, Prime Minister Shehbaz, while underscoring the importance of knowledge-based economy driven by innovation in domains of artificial intelligence, education and health, called for collective global efforts and partnerships to overcome the contemporary challenges.

He said that no nation could overcome today’s challenges alone and no single country could harness the potential of tomorrow without the support of others. “Pakistan stands ready to join those who dare to dream big. We invite you to invest, to bring your expertise and creativity to Pakistan, as we build a future, rooted in resilience and shared prosperity,” the prime minister said.

He said that he was elated to share that Pakistan, too, was on a transformative journey; a journey of resilience, sacrifice, and a relentless pursuit of stability and growth. Attended by global leaders, this year’s FII is themed “Infinite Horizons: Investing Today, Shaping Tomorrow” and focuses on global investments aimed at addressing major issues such as artificial intelligence, robotics, education, energy, space, finance, healthcare, and sustainability.

The participating countries engage in the dialogue for the promotion of investment and a sustainable future while highlighting the strength of their respective economies. The FII conference featured discussions on artificial intelligence, robotics, education, energy, space, public health, and challenges, confronting sustainable development.

The prime minister, citing future course, said Pakistan was laying the foundation for a knowledge-based economy driven by innovation in three pivotal domains, artificial intelligence, education, and health in which they looked forward to forging useful partnerships.

“AI is more than a trend; it’s a force revolutionising economies, societies, and industries. At this critical juncture, Pakistan is not just embracing AI, we are committed to excelling in it,” he said, adding their mission was clear and it was to; encourage young minds to redefine the boundaries of AI; training skilled engineers and data scientists as the backbone of Pakistan’s AI growth; and equipping their workforce to harness the power of AI across industries.

Along with the Kingdom of Saudi Arabia and like-minded global partners, the prime minister said Pakistan envisioned AI as a force for good, free from biases. Since assuming office in March this year, he said, the progress and prosperity of people had been his government’s laser focus.

Through the commitment of their people and the support of their partners, like the brotherly country Kingdom of Saudi Arabia, they had restored macroeconomic stability and were now ready to enter a period of sustained growth and progress, he added.

Shehbaz said: “This journey is not just ours, it’s a call to our friends across the world, because together, we are stronger. Together, we can shape a future defined by innovation, prosperity, and success.”

He further elaborated that Pakistan was blessed with something truly precious, the youth who was their promise to tomorrow. “Talented, resilient, and armed with an untiring spirit, they are now ready to take on the emerging challenges,” he added.

Inspired by Saudi Arabia’s Vision 2030, championed by Crown Prince Mohammed Bin Salman, the prime minister said Pakistan shared a common mission and invest in their youth to shape the future.

“In this pursuit, it is not just a responsibility; it is our persistent endeavour to empower our youth with quality education, digital inclusivity, and the cross-cutting tools they need to thrive in a rapidly evolving world,” he opined.

The prime minister further said that in agriculture, climate resilience, and the fight against misinformation, they could unleash AI’s potential not merely to compete, but to uplift and empower.

“Our aspirations in AI and beyond are deeply rooted in a solid educational foundation. Through educational reforms, vocational trainings, and digital literacy, we aim to build a skilled, tech-savvy generation,” he added. He said projects like Daanish Schools and the Education Endowment Fund in Pakistan that his government steered, made quality education accessible to those who once saw it as an unattainable dream.

“Today, he said these graduates aren’t just students; they are builders of tomorrow as doctors, engineers, and innovators. They are pioneers, driving progress and uplifting their communities, a testament to the transformative power of accessible education. Their success stories reinforce my belief that education is a true equalizer and a game-changer for individuals and nations alike,” he observed.

The prime minister further said that health was the cornerstone of human advancement and Pakistan’s healthcare sector was home to over 275,000 registered doctors with their youth pioneering new health-tech solutions.

With advancements in healthcare standards, they envisioned a future where their doctors and scientists collaborated across borders for a healthier tomorrow, he added. “Imagine the impact, pooling resources in areas like genome sequencing and personalised medicine. With such collaborations, we can redefine the whole healthcare system,” he further emphasised.

He enumerated that their institutions like King Edward Medical College, NUST and Aga Khan University held immense potential for breakthroughs in diagnostics, treatment and disease prevention.

At Pakistan Kidney and Liver Institute & Research Centre (PKLI), a centre of excellence in specialised care and research, they were unrelenting in the commitment to providing ‘state-of-the-art’ medical services to the people which contributed to building a healthier, more resilient society.

“As we look toward these infinite horizons and unpack our potential, one truth becomes clear: the future of human advancement doesn’t lie in isolation, it lies in collaboration in working together for win-win outcomes,” he stressed.

The prime minister expressed the hope that as Pakistan and the Kingdom of Saudi Arabia moved towards new realms of possibility, from their shared heritage to the frontiers of innovation, this partnership might shine as a beacon for all.

“Let this be our legacy: a commitment to a vision that transcends borders, embraces boundless potential, and inspires generations to come,” he added. He also stressed that global human advancement and transformation could not take place unless peace was restored in Gaza and bloodshed stopped.

The prime minister also expressed his deepest gratitude to King Salman bin Abdulaziz Al Saud and Mohammed bin Salman for their remarkable vision and foresight in convening the important gathering of world leaders, experts and civil society to address issues shaping our future.

He further said as he stood in Riyadh, a city that had evolved from a desert oasis into a global metropolis, he was inspired by a vision that resonated beyond borders, a vision of limitless possibilities, where the choices they made today set the course for a future they dreamt of.

Earlier, the prime minister arrived on a two-day official visit to Saudi Arabia to attend the FII 8th edition. Deputy Governor of Riyadh Province Prince Mohammed bin Abdulrehman bin Abdulaziz warmly received the prime minister at the Royal Terminal of King Khalid International Airport. Ambassador of Pakistan to Saudi Arabia and senior Saudi officials were also present at the airport.

At the moot, the delegates will hold discussions on how investment can serve as a catalyst for a prosperous and sustainable future. After his arrival, Prime Minister 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.”