Saudi Arabia keen to invest in renewable energy in Pakistan

       According to Saudi Energy and Mineral Resources Adviser Ahmad Al-Ghamdi, Saudi Arabia is interested in developing renewable energy projects in Pakistan.

　　During his visit to the Karachi Chamber of Commerce and Industry (KCCI), he stated that representatives from Aqua Power would be visiting Pakistan soon to introduce renewable energy technologies such as solar, wind, and others.

　　"We have also discussed investment opportunities in Pakistan's mining sector, and a memorandum of understanding is nearing completion," the adviser said.

　　Saudi investors would undoubtedly get a strong signal that they could come here and invest in a very pleasant environment if someone from the Pakistani government came and gave assurances about safety and security, in addition to extending the Pakistani government's full support, the adviser added. He claimed that the Saudi private sector was unaware of the opportunities in Pakistan and was hesitant to invest due to security concerns.

　　The Saudi adviser suggested that the business communities of both countries meet more frequently and participate in trade-promotion events held in Saudi Arabia and Pakistan, resulting in stronger relations.

　　In reference to a recent meeting between Prime Minister Imran Khan and Saudi officials during his visit to Saudi Arabia, he stated that the prime minister was especially concerned about visa issues, which had been raised by other top Pakistani leaders.

　　"Saudi Arabia is currently undergoing a transformation, with many new things and rules being implemented that will hopefully benefit both Pakistan and Saudi Arabia. Visa procedures, particularly the tourism visa, are also being discussed in order to encourage people to explore tourism in Saudi Arabia "According to Ghamdi.

　　"We asked about some import and export issues that were resulting in trade below the expected level during this meeting," Ghamdi said, referring to his meeting with Prime Minister's Adviser on Commerce Abdul Razak Dawood about two months ago. We are working to resolve these issues and have already formed a committee of Saudi and Pakistani representatives to identify obstacles and develop solutions."

　　KCCI President Junaid Esmail Makda stated on the occasion that a delegation led by him would depart for Saudi Arabia on January 12 to explore opportunities for increased trade. Pakistan and Saudi Arabia, he says, have healthy bilateral relations based on cooperation in various economic spheres, particularly trade and investment. He stated that in 2017. Saudi Arabia received $400.8 million in exports while receiving $2.73 billion in imports, indicating that the trade balance favored Saudi Arabia with a $2.32 billion surplus.

　　Makda told Saudi delegates that Pakistan's investment policy provided a comprehensive framework for creating a business-friendly environment, emphasizing the huge potential of expanding trade and investment ties. Lowering the cost of doing business, streamlining business processes, and emphasizing the development of industrial clusters and special economic zones are all part of it.

　　He stated that Karachi and Sindh could offer numerous opportunities in industries such as food processing, dairy production and processing, coal mining and mineral extraction, seafood processing, urban rapid transportation, date and mango farming and processing, wind and solar energy.