Pakistan urged to act fast to secure Saudi Arabia’s Vision 2030 opportunities

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KARACHI: Pakistan’s Ambassador to Saudi Arabia Ahmed Farooq has emphasized the importance of the next two years for Pakistan in expanding its presence in Saudi Arabia, which is undergoing massive change under Vision 2030. Saudi Arabia’s diversity has been referred to the El House, highlighting the oil. Emerging opportunities in the fields of construction, information technology, health care and hospitality.

If we do not immediately claim our shares, rivals will take advantage of these opportunities. To achieve this goal, Pakistan needs to expand its manpower by providing training associated with Saudi requirements, “the Ambassador addressed a meeting at the Karachi Chamber of Commerce and Industry (KCCI). –

He highlighted Saudi Arabia’s goal of becoming a regional IT center, which has created an important demand for human resources and skills. He noted, “It offers a great opportunity for Pakistan’s IT companies to offer services and products to a sector that attracts $ billion in investment.”

Farooq also focused on the cultural and tourism development of Saudi Arabia, which is developing in the fields of hospitality and hotel. Over the next decade, Saudi Arabia will host four major international programs: Asian Football Cup (2027), Asian Winter Game (2029), World Expo (2030) and the FIFA World Cup (2034). “To support these events, Saudi Arabia is investing in a lot of infrastructure, including the construction of 250 new hotels. This expansion of Pakistan’s domestic textile industry, food exports, and hospitality and domestic Provides job -trained manpower opportunities.

Discussing the fuel construction sector through mega projects such as mega projects, such as Naom City and Infrastructure, the ambassador noted that Pakistani contractors could play an important role, as Saudi Arabia is facing a shortage of eminent contractors. “Companies from all over the world are securing profitable contracts, and Pakistan should also take advantage of this opportunity,” he said, adding that furniture, marble, power cables, LED lights and fiber optic The demand for building, including cables, is increasing rapidly. . He also highlighted the healthcare sector, which provides opportunities for pharmaceutical, surgical equipment and medical tourism.

The Ambassador mentioned 40 % increase in Pakistan’s exports to Saudi Arabia in 2023-24, the IT sector achieved impressive growth of 50 %. “Our main focus is on promoting trade and investment. Last year, two major Saudi business delegations visited Pakistan, which resulted in the signed an understanding of 34 Memorandum of Understanding (MUS) worth $ 34 billion. Of these, a $ 700 million mouse has already entered the implementation phase, with a new chapter in economic cooperation.

He identified textile, agriculture, rice and red meat (beef and mutton) as priority export sectors, in which significant growth in Saudi Arabia. “We encourage local distributors to connect with Saudi Arabia to facilitate export of big businesses,” he said. To further strengthen trade relations, a list of key exporters in these sectors should be distributed with the embassy.

During his visit, the ambassador engaged in the Karachi business community, shared his vision with his power and discussed ways to assist Pakistani businesses in accessing the Saudi market.

Farooq also highlighted the growing demand for skilled workforce in Saudi Arabia, where more than three million Pakistanis are currently living, of which 97 % are blue workers. “Saudi authorities have advised us to improve professional training for Pakistani workers to meet the standards needed for future projects. He added that training programs increased to equip the government with modern technical skills. Have to do

Earlier, KCCI President Jawad Bulani welcomed the ambassador and recognized strong trade and economic relations between Pakistan and Saudi Arabia. He said that Saudi Arabia is the largest source of remittances, which has contributed $ 7.5 billion in fiscal year, while the expansion of $ 3 billion to the State Bank of Pakistan (SBP) has led to the economy. More stable.