Islamabad, Oct 9: LCCI Highlights Saudi Investment as Key Driver for Economic Growth. The Lahore Chamber of Commerce and Industry (LCCI) expressed gratitude to the government on Wednesday for opening the door for Saudi Arabian investment, which will undoubtedly increase the nation’s economic activity.
In a media statement released here, LCCI President Mian Abuzar Shad, Senior Vice President Engineer Khalid Usman, and Vice President Shahid Nazir Chaudhry praised the government’s historic efforts to close deals with Saudis, which he is about to complete during the Saudi Minister of Investment’s impending visit to Pakistan.
These upcoming agreements are anticipated to improve bilateral relations while also bringing desperately needed finance into Pakistan’s economy and sustaining a number of vital industries. The prime minister’s leadership was praised by LCCI office-bearers, who also described the accords as a historic step towards economic rebirth.
They claimed that signing these trade and investment agreements will pave the way for expanded collaboration in vital industries including manufacturing, energy, infrastructure, and technology. Saudi Arabia has always been a crucial ally of Pakistan.According to the LCCI leadership, the agreements will boost the nation’s economy, attract billions of dollars in foreign investment, and enhance its reputation internationally.
Pakistan, according to Mian Abuzar Shad, will gain a lot from Saudi investment. The President of LCCI also stated that these agreements will result in a significant boost to industries including information technology, agriculture, and industrial growth.This will give the Pakistani workers thousands of new prospects and jobs.
The office-bearers of the LCCI declared that Saudi Arabia’s investment in Pakistan will revolutionize the region. Better connectivity as a result of these agreements will strengthen the basis for sustained economic growth. They went on to say that closer relations with Saudi Arabia will help Pakistan’s export industry expand by giving it access to new markets and boosting its foreign exchange reserves.
They emphasized the value of developing stronger connections between the business community in the two countries. We believe that these agreements will involve more than just government-to-government collaboration. Pakistani and Saudi businesses will have many potential to form private sector alliances, especially in the fields of manufacturing, services, and technology, they continued.
Additionally, they said that the accords will facilitate Pakistani companies’ entry into Saudi markets, increasing textile, agricultural, and consumer goods exports. Prime Minister Shahbaz Sharif was commended by the LCCI leaders for his emphasis on economic diplomacy and his ability to negotiate agreements that are anticipated to resolve some of Pakistan’s most critical economic issues.
According to him, these accords will boost our economy just when it’s most needed by opening up new business opportunities, encouraging innovation, and producing jobs in a variety of industries. The LCCI underlined how important these agreements might be for maintaining Pakistan’s foreign exchange reserves and enhancing the nation’s overall trade balance.
The Pakistani business community was urged by the Lahore Chamber to take advantage of these chances and actively begin the process of investigating potential partnerships and investments that may result from these agreements.
