SIFC to finalize strategic economic engagement with Saudi Arabia, seeks input from ministries

Ahead of finalising Pakistan’s strategic economic engagement with Saudi Arabia, the Special Investment Facilitation Council (SIFC) has sought responses to over 50 questions from different ministries. This initiative, aimed at enhancing bilateral economic cooperation, involves a comprehensive analysis of key sectors and a roadmap for long-term investments, Business Recorder reported. 

A meeting at the Prime Minister’s Office recently discussed the details of this exercise, with participants working to prepare a detailed presentation and diagnosis. The review is focused on identifying target sectors, assessing current challenges, and formulating an action plan, including policy interventions and potential investments to strengthen Pakistan’s economic ties with Saudi Arabia.

SIFC’s primary goal is to create a clear, actionable roadmap that incorporates feedback from key stakeholders and addresses various concerns, including sector-specific weaknesses and potential growth areas. This diagnostic approach is expected to ensure that the strategies developed are not only aligned with Pakistan’s needs but are also financially viable and investment-friendly.

The process will also involve identifying regulatory gaps and addressing any barriers to investment. With the aim of fostering stronger trade relations, SIFC’s efforts will contribute to Pakistan’s long-term economic growth and its integration into key global markets, including the Middle East, Central Asia, and beyond.

The ongoing discussions are part of a larger strategy to develop a more diversified, efficient, and competitive economy in Pakistan. The SIFC has expressed its commitment to creating a conducive environment for both local and international investors, thereby enhancing Pakistan’s position as a regional economic hub.

This effort is timely, as both countries are looking to capitalize on emerging opportunities, including those in the energy, infrastructure, and manufacturing sectors.

The answers from various ministries will play a crucial role in refining this strategy and aligning it with Pakistan’s long-term goals of sustainable growth and development.