In order to augment economic relations between Saudi Arabia and Pakistan and to further boost bilateral relations, two investment conferences on Oct. 20 and 21 have been arranged in Riyadh and Jeddah, according to the Pakistani Ambassador to the Kingdom Admiral Shahid Karimullah. Pakistani diplomats discussed the major issues involved in the upcoming conferences at a press meeting here on Monday. The Investment Division and Board of Investments in cooperation with the Saudi Ministry of Finance, Council of Saudi Chambers, Federation of Pakistan Chambers of Commerce and Pakistan Mission in Saudi Arabia are organizing these conferences. Prominent businessmen and industrialists from the two countries will participate in the conferences whose main focus will be bilateral economic relations between the two countries. The priority sectors for joint ventures have been identified as agriculture, dairy sector, logistics, manufacturing, power, construction and small and medium enterprises. Karimullah said the Kingdom has made “more conducive atmosphere” for the Pakistani businessmen and investors. Regarding the current political and regional situation in Pakistan, the ambassador said “Even if internal issues in Pakistan are not as settled as expected, it doesn't mean that we should wait and see. “We have to work and move forward and put all out efforts to make our country more effective.” A 14-member business delegation will also be visiting the Kingdom to participate in these conferences. A visit to King Abdullah Economic City (Rabegh) will also be arranged for the participants. According to statistics, foreign direct investment inflow in Pakistan's financial business sector during July-June 2007-08 has increased by 72.8 percent. Pakistan needs $3.5 billion per annum investment on infrastructure to maintain the healthy growth and for this purpose, private public partnership is quite a viable option. __
