Special Investment Facilitation Council (SIFC) was functioning like one window for fast-tracking foreign investment: foreign minister

Ansar M Bhatti

ISLAMABAD: Saudi Foreign Minister Prince Faisal bin Farhan Al Saud, who is in Islamabad on a two-day official visit, has reiterated that the kingdom will play its all-out role in the economic development of the country.

“We will keep a follow on the constructive talks held between Pakistan and Saudi Arabia,” the Saudi foreign minister said while addressing a joint presser along with Foreign Minister Ishaq Dar on Tuesday in Islamabad.  

Prince Faisal said the visit of a high-level Saudi delegation is a result of a meeting between Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed Bin Salman during the former’s visit to the kingdom.

He said the Saudi delegation is visiting Pakistan on the direction of the Saudi crown prince.

“Thank you very much for your welcome and hospitality in Pakistan,” he added.

The Saudi FM highlighted that there are various avenues to increase investment in Pakistan and added that important work in this regard will be done in the next few months

“We will work together for economic development and security of the region,” he remarked.

Replying to various queries, the two sides said reiterated to further build up and convert the strong partnership into strategic partnership and further promote economic cooperation for the mutual benefit of the two brotherly countries.

Foreign Minister Dar expressed his pleasure at the arrival of high-powered Saudi delegation, terming it as an “impressive group of dignitaries visiting Pakistan for the first time during his long political career”.

Speaking about the meetings, he said that they had discussed ways and means to transform the cordial cooperation between the two brotherly nations into strategic partnership and enhancement of investment in Pakistan.

He explained that Special Investment Facilitation Council (SIFC) was functioning like one window for fast-tracking foreign investment, adding that Pakistan was committed to strengthening its investment environment.

He expressed the hope that Pakistan would soon become a hub for investment and innovations.

He further expressed the optimism that their detailed briefings had highlighted the extensive opportunities for the Saudi investors in energy, agriculture, minerals and IT sectors.

Foreign Minister Dar said that they would ensure full support to the Saudi investment and provide conducive environment under the directives of Prime Minister Shehbaz Sharif.

Saudi Foreign Minister Prince Faisal expressed his profound appreciation for the warm welcome and hospitality accorded to him and his delegation.

The Saudi FM stressed upon the importance of strategic partnership between the two countries and expressed commitment to strengthening investment in the country.

He said that the delegation was impressed with the proactive and business focused approach of the Pakistani side.

The untapped potential in Pakistan needed to be tapped, he emphasised.

Prince Faisal bin Farhan further reaffirmed to continue working closely for economic progress and regional security with historic bilateral cooperation.

At the same presser, Pakistan and Saudi Arabia regretting the failure of the international community to ensure ceasefire in Gaza, demanded its immediate enforcement in Gaza, opening of humanitarian corridor, and averting of famine that was leading to catastrophe.

FM Dar said that Pakistan was deeply concerned over the catastrophic like situation in Gaza.

Both the brotherly countries shared the same feelings on Gaza, he said, stressing upon the international community to end the genocide.

More than 33,000 Palestinians had been killed, the world conscience must wake up and enforce an immediate and unconditional ceasefire to ensure unimpeded humanitarian aid, he added.

More Palestinians should not be killed due to starvation, he said, demanding for a global probe into crimes committed against humanity in Gaza.

Saudi Foreign Minister Prince Faisal said that in Gaza so far more than 33,000 people had been killed.

“They are now facing famine like situation and starving to death as the international humanitarian aid is not getting in. It is a complete failure of the international community,” he added.

Terming the situation as unacceptable, he said there was no justification to it.

In reality, he said, the two UN resolutions regarding immediate ceasefire in Gaza had not seen implementation.

Prince Faisal called for an immediate end to the killings and sufferings of the people of Gaza.