ISLAMABAD: Prince Sultan Bin Saud Bin Mohammed Bin Saud Alkabeer of Almarai Company along with a delegation visited Islamabad Chamber of Commerce and Industry and showed keen interest to explore business opportunities in different sectors in Pakistan with special focus on power and energy sectors.
He said Pakistan was a promising country for investment and his group wanted to invest in solar and hydro energy in Pakistan. He said his first visit was just an exploratory visit and next time they would come to Pakistan with feasibilities to materialize their investment plans in Pakistan. He said Almarai was the largest cement producer in the world with engagement in diversified fields including gas, petro chemicals, construction, transport and logistics, food and beverages, telecom and banking and it was now interested to invest in Pakistan’s power and energy sector.
Speaking on the occasion, Muzzamil Hussain Sabri, president, Islamabad Chamber of Commerce and Industry briefed the visiting guest about investment potential in Pakistan’s energy and other sectors. He said already some international companies including Siemens, General Electric, International Power were operating in Pakistan’s power sector and earning high returns.
He said about 50 percent of the power generation capacity in Pakistan was in the private sector while the present government was offering huge incentives to foreign investors for investing in power, energy and other sectors. He said the economy of Pakistan was in recovery mode and it was high time for Saudi investors to enhance investment in Pakistan.
He said Saudi investors should explore other sectors in Pakistan as well including construction, infrastructure development and exploration of minerals that offered good investment opportunities. He was of the view that Saudi Arabia’s investment in Pakistan would further strengthen bilateral relations between the two brotherly Islamic countries.
Muhammad Shakeel Munir, senior vice president ICCI briefed the delegation about investment opportunities in Pakistan’s marble sector and said that Saudi investors should establish joint ventures in Pakistan for producing value added marble products. M. Ashfaq Hussain Chatha vice president ICCI, M. Ishtiaq Qureshi and others also spoke at the occasion and gave useful suggestions for promoting bilateral relations between Pakistan and Saudi Arabia.
