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Sunday, 13 October 2024
Read full issueINVESTMENT WATCH
Businesses from Saudi and Pakistan signed 27 MoUs that will see investments in Pakistan worth a combined USD 2 bn in the country’s agriculture, energy, manufacturing, technology, healthcare, and oil sectors. The agreements were finalized during Investment Minister Khalid bin Abdulaziz Al Falih’s three-day visit to Islamabad with a delegation of over 130 business executives and industry leaders, according to Arab News. The signings also got ink in the Associated Press.
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What we know of the agreements:
Less than expected: The total value of the MoUs is USD 2.8 bn short of the USD 5 bn investment package that Pakistan’s premier discussed with Prime Minister and Crown Prince Mohammed bin Salman when they met in Riyadh in April to support the cash-strapped country.