Kingdom of Saudi Arabia (KSA) on Tuesday announced to give two-year multiple visas to Pakistani businessmen recommended by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
This was decided at a meeting between Saudi Ambassador to Pakistan Abdullah Marzouk Al-Zahrani and FPCCI President Abdul Rauf Alam. The leaders of the business community of twin cities were also present on the occasion. During the meeting, the FPCCI president drew attention of the Saudi envoy towards various problems faced by the Pakistani business community while visiting KSA which were well taken.
Saudi Ambassador Abdullah Al-Zahrani announced to provide multiple entry visas to Pakistani businessmen recommended by the chamber. He said that KSA highly valued its relations with Pakistan. ‘We want to enhance cooperation with Pakistan in various fields including trade, commerce and culture’, he added.
He said, ‘we are moving Saudi Arabia’s economy beyond oil which is also a great opportunity for Pakistani investors. We are injecting new dynamism into our economy through productivity and investment-led transformation that will help ensure future growth, employment, and prosperity’, the envoy said.
The sectors in which Pakistanis could invest included agriculture, honey and beverages, processed food, oil, gas, petrochemicals, power including solar and other renewable energy, water and waste-water, financial and professional services, education, training and human capital development, mass transport infrastructure including new rail, metro and bus links, environmental technology and services, ICT, consumer and luxury goods, security services, healthcare and life sciences and mining, he said. He said that Pakistani investors would be given all the facilities in the Kingdom to establish their businesses.
The FPCCI president said that from 2003 to 2013 Saudia saw rising prosperity, household income rose by 75 per cent, 1.7 million jobs were created, GDP was doubled and reserves amounted to almost 100 per cent of GDP but now it no longer could rely on oil revenue. He said that although parts of the Middle East have seen political turmoil for a few years, but KSA has remained stable and investors still viewed it as an attractive place to do business.
The Saudi Riyal was one of the world’s most stable currencies and there have been no significant changes in its exchange value during the last three decades therefore businessmen could invest there without any fear, he added.
