Maryam Nawaz, Prince Mansoor Witness Signing of Landmark Pak-Saudi Investment Accord

Lahore: A historic Memorandum of Understanding (MoU) between Pakistan and Saudi Arabia was signed in a dignified ceremony held in front of the Alamgiri Gate of the Badshahi Mosque in Lahore. The agreement marks a major milestone in strengthening bilateral economic cooperation and attracting Saudi investment to Punjab.

The MoU was signed in the presence of Chief Minister Punjab Maryam Nawaz Sharif and Chairman of the Pak-Saudi Joint Business Council Prince Mansoor bin Muhammad bin Saad Al Saud. The Saudi delegation, visiting under the auspices of the Pak-Saudi Joint Business Council, expressed keen interest in investing across seven major sectors of Punjab’s economy.

Saudi investors showed readiness to invest in Special Economic Zones, Industrial Zones, Real Estate Development, the Hospitality Industry, Healthcare Infrastructure, Mining and Minerals, Transport and Logistics, as well as in Agriculture, Livestock, and Aquaculture through joint ventures.

Speaking on the occasion, Chief Minister Maryam Nawaz Sharif reaffirmed her government’s full support for Saudi investors, stating, “Punjab is the best destination for investment. We want to transform the province into an industrial hub. Our natural and mineral resources are a true economic treasure, and we aim to make the most of them.”

The Saudi delegation lauded Maryam Nawaz Sharif’s economic vision and expressed confidence in Punjab’s investment climate. The Government of Punjab has designated a focal agency to ensure effective coordination and facilitation for Saudi companies and investors.

Both sides agreed to adopt a fast-track implementation mechanism instead of traditional timelines to translate the Pak-Saudi investment agreements into immediate action.

Punjab Chief Minister Maryam Nawaz Sharif on Saturday met a high-level delegation of the Saudi-Pak Joint Business Council, led by Prince Mansoor bin Muhammad bin Saad Al Saud, to explore new avenues of investment and business cooperation in Punjab.

Welcoming the delegation in Arabic, the Chief Minister described the visit as “a symbol of Pak-Saudi friendship built on faith and trust.” The Saudi delegates were briefed on Punjab’s major public welfare and infrastructure projects, which they termed “commendable and forward-looking.”

Announcing a major development initiative, Maryam Nawaz Sharif revealed plans to establish a dedicated Saudi Industrial Estate in Punjab, offering 10-year income tax exemptions and one-time customs duty waivers for Saudi investors. A fast-track facilitation cell will also be set up at the CM Office to support Saudi businesses.

“Punjab is the backbone of Pakistan’s economic development and welcomes Saudi investment with open arms,” the Chief Minister said, emphasizing that Punjab’s investment policy is based on “no delay, immediate delivery.”

She highlighted vast opportunities in energy, agriculture, mining, tourism, IT, and logistics, noting that Punjab’s 120 million-strong population, especially its skilled youth, are eager to partner with Saudi entrepreneurs.

The Chief Minister proposed the formation of joint working groups in priority sectors and appreciated the Saudi interest in livestock, mines, infrastructure, meat, and IT. The Punjab Mass Transit Authority also offered operational expertise for the Holy Metro Train project in Makkah.

Maryam Nawaz termed the Pakistan–Saudi defense agreement a “manifestation of our eternal commitment to protect the Two Holy Mosques,” describing it as “an agreement for peace and regional stability.”

She lauded the visionary leadership of King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, saying their efforts have elevated the stature of the Muslim Ummah. She also recalled that her father, former Prime Minister Nawaz Sharif, shared a “decades-long bond of respect and trust” with Saudi Arabia, while the “warm reception for Prime Minister Shehbaz Sharif” during his recent visit was “a source of national pride.”

Maryam Nawaz said her recent meeting with the Crown Prince covered investment, technology, and people-to-people ties, and with his encouragement, “the future of the Pakistan–Saudi partnership looks bright.” She also thanked the Saudi government for its generous support to Punjab’s flood victims.

“Pakistan and Saudi Arabia share one faith, one history, and one future,” she remarked. “I spent eight years in Saudi Arabia—it is like my second home.”

She underscored that the relationship between the two nations is not merely political or economic, but “an eternal bond of brotherhood spanning centuries.”

Meanwhile, Prince Mansoor bin Muhammad bin Saad Al Saud praised Maryam Nawaz’s leadership and hospitality, expressing Saudi Arabia’s intent to invest and assist Pakistani brothers in their development journey.

“We are here not only to invest but to help our brothers in Pakistan,” he said.

The meeting concluded with a dinner hosted by the Chief Minister, featuring traditional Punjabi cuisine, in honour of the Saudi delegation.