Saudi Delegation Sparks Investment Hopes in Pakistan Amid Defense Pact
A Saudi business delegation visits Pakistan, potentially heralding a $1 billion investment as part of a new defense agreement. This investment, aiming to strengthen economic ties, focuses on technology, sports equipment, and agriculture. However, realization depends on Pakistan's commitment to essential economic reforms, officials say.
A Saudi business delegation is poised to visit Pakistan this week, initiating potential investments following a recent mutual defense agreement. Analysts and officials suggest substantial investments could hinge on comprehensive reforms.
Expected investments of about $1 billion could materialize through a new fund, aiming to bolster economic relations similar to existing military ties. This follows last month's defense pact that positions Pakistani troops in Saudi Arabia and places Riyadh under Pakistan's nuclear shield amid rising regional tensions.
The delegation, led by Prince Mansour bin Mohammad al-Saud, focuses on sectors like technology, sports equipment, and agriculture. Despite potential financial benefits, realization depends on Pakistan's willingness to implement economic reforms. Past pledges of significant Saudi investments have fallen short, often hindered by regulatory challenges, officials admit.
(With inputs from agencies.)
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