ISLAMABAD, Feb 19 (APP):President Dr Arif Alvi has said as the Kingdom of Saudi Arab was diversifying its economy under its Vision 2030, Pakistan offered an exact place for safe and lucrative investment.
He said “When Saudi Arabia comes forward at a time of investment, and when Pakistan is looking for investment, I think it’s a very good opportunity for Saudi investment to come here.”
The President spoke to the Arab News during an exclusive interview which was published in Tuesday edition.
He also thanked Saudi Arabia for its investment package worth $20 billion and the signing of a number of memorandums of understanding.
“Pakistan fits in exactly,” for Saudi investment, he added.
The President also assured global and, more specifically, Saudi investors about the iron-clad guarantees that Pakistan’s new government had announced to protect foreign investment.
Pakistan’s drive against corruption has instilled a sense of security among global investors, he added.
“New investors who are coming into Pakistan have made strong investment commitments, based on the fact that corruption is getting less and the government is very strong against corruption,” he said.
The President cited the important measures undertaken by the government including security for foreign investors and their investments, the battle against corruption, opening up of visas and inviting people to invest.
As a result of these measures, Pakistan became one of the best places in the world for good investment, he added.
President Dr Alvi also listed a number of areas where investment would prove mutually beneficial.
“I believe very strongly that the industrial sector, for example the refinery project that’s coming Insh’ Allah in Gwadar with Saudi investment, is very important,” he said.
He referred to abundance of minerals resources in Balochistan and Hunza and tourism potential as Pakistan offered the most beautiful places in the world.
The President further said that he was also considering to launch a presidential initiative on artificial intelligence and computing because the new change in the world was going to happen in data, analyzing data, a major area for training the people.
“In Saudi Arabia, training people in artificial intelligence and computing in blockchain technology and robotics is taking place. This is going to have a very significant impact in the Middle East and in the Gulf,” he added.
The President said that they intended to produce 100,000 people by the end of this year in this regard.
He said that opening up of Saudi Arabia under the leadership of Crown Prince Mohammed bin Salman was very important as it was being appreciated throughout the world.
He said the world was watching with interest the reforms taking place in Saudi Arabia under Crown Prince Mohammed bin Salman’s Vision 2030 strategy.
About bilateral ties, the President said “We’ve always had love for our brothers in Saudi Arabia.
The President further said “We consider any danger to the Two Holy Mosques, or to the people of Saudi Arabia, as a danger to us as a people and as a country.” “The friendship between Pakistan and Saudi Arabia comes from the heart. You can’t put a value on that,” he added.
About the benefits of China-Pakistan Economic Corridor (CPEC) he said, China and Pakistan had been friends since 1950s. China had opened up CPEC corridor, which was a good opportunity for the Saudi investment.
China’s increasing presence in the world trade and this friendship between Pakistan and China was important, he added.