ISLAMABAD: Twelve leading Pakistani companies from diverse sectors have signed Memorandums of Understanding (MoUs) with Saudi Arabia-based Al Raee Group to launch operations and undertake major investment projects in the Kingdom.
The agreements were signed during the Saudi Company Formation and Business Expansion Summit 2026, organised by Al Raee Group in Islamabad, marking a significant step towards enhancing private-sector cooperation and strengthening economic ties between Pakistan and Saudi Arabia.
According to the Associated Press of Pakistan, the initiative aims to provide Pakistani businesses with opportunities to enter the Saudi market and benefit from the investment-friendly environment created under Saudi Vision 2030.
Deputy Chairman Senate Syedaal Khan Nasir, who attended the summit as the chief guest, said Pakistan-Saudi relations were rooted in shared faith, mutual confidence and a common vision for development.
He said Saudi Vision 2030 had created new opportunities for international investors and encouraged private-sector participation in key economic sectors.
He congratulated Al Raee Group and the Saudi government for organising the summit, describing it as an important platform to improve economic connectivity, promote bilateral trade and attract greater investment between the two countries.
Syedaal Khan Nasir assured participants that the Senate of Pakistan and the government would continue supporting initiatives aimed at economic growth, job creation and technology transfer.
Chairman Al Raee Group Bilal M. Zubair welcomed the participants and highlighted Saudi Arabia’s business-friendly reforms, saying the Kingdom had introduced several measures to facilitate foreign investors.
He said Saudi Vision 2030 allowed 100 per cent foreign ownership in several sectors, simplified banking procedures and removed minimum capital requirements for various business activities, creating favourable conditions for international companies.
He added that Pakistani private companies seeking expansion into Saudi Arabia could establish their presence by submitting essential documents, including a Certificate of Incorporation and an audited financial report, provided they had been operational for at least one year.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh emphasised the importance of stronger private-sector collaboration between the two countries and appreciated Al Raee Group’s efforts in promoting business links between Pakistan and Saudi Arabia.
The summit was attended by foreign diplomats, prominent investors, senior corporate executives and representatives of national and international companies, reflecting growing interest in expanding Pakistan-Saudi economic cooperation.
