ISLAMABAD, Jul 17: Deputy Chairman of the Senate, Syedaal Khan Nasir, has said that the brotherly relations between Pakistan and Saudi Arabia are built on a solid foundation of faith, mutual trust, and shared progress.
Addressing the Saudi Company Formation and Business Expansion Summit 2026, organized by Al Raee Group in Islamabad, he said Saudi Vision 2030 has opened new avenues for global investment and private sector growth, offering immense opportunities for the Pakistani business community.
Congratulating Al Raee Group and the Kingdom of Saudi Arabia on organizing the timely summit, the Deputy Chairman Senate described the event as a significant initiative to strengthen economic connectivity and add a new dimension to bilateral trade and investment.
He assured participants that the Senate of Pakistan and the government would continue to extend all possible support to initiatives that promote economic growth, employment, and technology transfer.
Speaking on the occasion, Chairman of Al Raee Group Bilal M. Zubair welcomed the distinguished guests and highlighted Saudi Arabia’s business-friendly policies.
He said that under Saudi Vision 2030, the Kingdom offers 100% foreign ownership, simplified banking procedures, and has removed the minimum capital requirement for various business activities, creating an ideal corporate environment.
He explained that any Pakistani private limited company or partnership firm that has been operating for at least one year can seamlessly expand into the rapidly growing Saudi economy by submitting key documents, including the Certificate of Incorporation and an audited financial report.
President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Atif Ikram Sheikh, stressed the need to strengthen private-sector linkages and lauded Al Raee Group’s constructive role in serving as an effective bridge for Pak-Saudi trade relations.
The summit was attended by foreign diplomats, leading investors, and senior corporate executives representing national and international companies.
A major highlight of the summit was the signing of Memorandums of Understanding (MoUs) between Al Raee Group and representatives of 12 prominent
Pakistani companies from various sectors.
Under the agreements, these companies will establish operations and undertake large-scale investments in Saudi Arabia.
The summit marked a significant milestone in bilateral investment cooperation and laid a strong foundation for a long-term, resilient economic partnership between the two brotherly nations.
