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Saudi Arabia’s Minister for Investment Announces Major Business Deals with Pakistan

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Saudi Arabia’s Minister for Investment, Sheikh Khalid Bin Abdul Aziz Al Faleh, announced at the Pak-Saudi Business Forum 2024 in Islamabad that Saudi Arabia’s Manara Minerals is set to sign a deal with Barrick Gold and Pakistan’s State Owned Enterprises (SOEs) in the next few weeks. The agreement aims to enter the Reko Diq project. Additionally, the minister expressed interest in investing in renewable energy projects and enhancing trade ties with Pakistan.

During the visit, over 27 Memorandum of Understanding (MoU) worth over $2 billion will be signed between Saudi companies and Pakistan. The minister noted that trade between Saudi Arabia and Pakistan has significantly increased, reaching $5.4 billion, and highlighted the potential for further economic collaboration between the two countries.

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