Saudi Arabia will grant two-year multiple visas to the Pakistani businessmen recommended by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI). This decision was made in a meeting which was recently held between Saudi Ambassador to Pakistan Abdullah Marzouk Al-Zahrani and FPCCI President Abdul Rauf Alam. Well known businessmen of Rawalpindi and Islamabad were also a part of this meeting.
In the meeting, the President FPCCI drew the attention of Saudi envoy towards the problems faced by Pakistani Business community while visiting Saudi Arabia. Saudi Ambassador.
Abdullah Marzouk Al-Zahrani said that he wants to enhance cooperation with Pakistan in various fields including trade, commerce and culture he further added that they are moving Saudi Arabia’s economy beyond oil which is also a great opportunity for Pakistani investors.
He emphasized that Saudi Arabia was injecting a new dynamism into its economy through a productivity and investment-led transformation that would help ensure future growth, employment and prosperity. The sectors in which Pakistanis could invest includes agriculture, honey and beverages, processed food, oil, gas, petrochemicals, power production including solar and other renewable energy resources.
Saudi Ambassador, Abdullah Marzouk Al-Zahrani exclaimed that the Pakistani Business will be given all the facilities in order to establish their business in Saudi Arabia. The Saudi Riyal is one of the world’s most stable currencies and there have been no significant changes in its exchange value during the last three decades therefore businessmen can invest there without any fear, he added.
The FPCCI president told that from 2003 to 2013 Saudi Arabia saw rising prosperity, household income rose by 75 per cent, 1.7 million jobs were created, GDP doubled and reserves amounted to almost 100 per cent of GDP but now it no longer can rely on oil revenue.