A high-level Saudi business delegation is visiting Karachi today to explore investment opportunities and strengthen trade ties. The delegation is led by Chairman of Saudi-Pakistan Joint Business Council Prince Mansour bin Mohammad Al Saud.
This multi-city visit across Pakistan has materialised in under a month, coming just ahead of a game-changing Strategic Mutual Defence Agreement between the two countries.
During his stay in Karachi, Prince Mansour is scheduled to meet Sindh Governor Kamran Tessori and Chief Minister Syed Murad Ali Shah.
Top industrialists and representatives of leading business groups are also expected to engage with the delegation, discussing trade facilitation, infrastructure development, and potential joint ventures.
The Saudi delegation comprises major businessmen from key sectors including agriculture, construction, minerals, energy, infrastructure, livestock, real estate, and tourism.
They will also be briefed on the role of the Special Investment Facilitation Council (SIFC), which is playing a crucial part in significantly improving Pakistan’s business environment for foreign direct investment.
On Wednesday, Prime Minister Shehbaz Sharif hosted a banquet in honour of the Saudi prince and the accompanying delegation in Islamabad, attended by several members of the federal cabinet.
The premier lauded the vision of Saudi Crown Prince Mohammed bin Salman and his “unwavering commitment” to Pakistan. He emphasised that Pakistan must embrace this historic moment.
“This is a time of golden opportunities. Together, we can turn our shared vision into a reality,” the Prime Minister remarked during the luncheon.
On his part, Prince Mansour highlighted the Saudi leadership’s support for expanding business relations with this “brotherly Muslim country.”
“We are here on the orders of our leaders to be part of the Joint Saudi-Pakistan Business Council. As you know, before arriving here, we met all the key ministers,” stated Prince Mansour.
He added that he had received full support from all Saudi ministers after briefing them on Pakistan’s strategic projects.
“They were very happy, very satisfied. They were truly supportive and offered us many incentives,” he said.
Prince Mansour expressed deep interest in sectors related to food security — including agriculture, livestock breeding, and meat processing — as well as the construction and pharmaceutical industries.
The Saudi dignitaries also met Deputy Prime Minister and Foreign Minister Ishaq Dar. Both sides agreed to enhance economic linkages for the shared prosperity of both nations.
This significant visit is aligned with Pakistan’s economic growth agenda and Saudi Vision 2030.
The grand Saudi vision, driven by the leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Crown Prince Mohammed bin Salman, aims to create an ambitious nation, a vibrant society, and a thriving economy — positioning Saudi Arabia as a major international trade hub.
Vision 2030 also seeks to enable Saudi companies to consolidate their global leadership and to expand economic ties with partners beyond the Gulf Cooperation Council (GCC).
As Vision 2030 enters its final phase next year, this new juncture is expected to see the full delivery of several ambitious projects. Notably, some targets have already been achieved ahead of schedule, while others are expected to be completed before their deadlines.
Corrective measures are being implemented in areas facing technical or economic challenges.
Many of the flagship projects focus on economic diversification, social development, and institutional efficiency. Over recent years, Saudi Arabia’s economy has diversified significantly, supported by targeted investment, policy reforms, and the steady growth of non-oil sectors.
According to a report, the unemployment rate in 2024 has fallen to 7%, down from 12.3% in 2016. Despite global economic uncertainty, inflation has been contained at 1.7%.
Looking ahead to 2026, the outlook remains positive. Leading credit rating agencies have expressed strong confidence in Saudi Arabia’s fiscal position: Moody’s has rated the kingdom AA3, Fitch rated it A+, and S&P gave it an A/A-1 stable outlook.
The International Monetary Fund (IMF) has projected economic growth of 3.7% for 2026, up from 3.0% in 2025. Meanwhile, the World Bank has forecast a growth rate of 5.4%.
“Thirty years ago, in some areas, Pakistan was offering its expertise to our Saudi counterparts. Today, we must learn from them — and we are glad to have this opportunity,” remarked PM Shehbaz on the changing dynamics of the bilateral relationship.
He acknowledged that, in areas such as research and development, Pakistan must “acquire knowledge from our Saudi brothers and sisters.”
Concluding his remarks, the premier said: "They are more than happy, more than willing, to offer Pakistan everything that has helped them transform their society — under the most dynamic and visionary leadership of His Royal Highness, the Crown Prince."