In a move aimed at strengthening economic relations, Saudi Arabia has announced an increase in its investment in Pakistan from $2.2 billion to $2.8 billion.

This announcement was made by Saudi Investment Minister Khalid bin Abdulaziz during a joint press conference with Pakistan’s Prime Minister Shehbaz Sharif.

Minister Khalid noted that the investment increase comes after an initial agreement to invest $2.2 billion across 27 memorandums of understanding (MoUs). The enhanced investment demonstrates Saudi Arabia’s commitment to supporting Pakistan’s economic growth and progress.

Pakistan’s PM, Shehbaz Sharif, expressed deep gratitude to Saudi Crown Prince Mohammed bin Salman for his continued financial cooperation, stressing that the partnership with Saudi Arabia would contribute significantly to Pakistan’s prosperity.

He further highlighted that the initial MoUs are already showing positive results, with investment and trade agreements underway.

The Saudi delegation, which included senior advisors to the Royal Diwan, reviewed various economic initiatives during the meeting.

Pakistani officials present included Defense Minister Khawaja Asif, Finance Minister Muhammad Aurangzeb, and Commerce Minister Jam Kamal Khan, among others, who discussed new opportunities to deepen the economic partnership between the two nations.