Islamabad, July 17, 2026: Deputy Chairman Senate Syedaal Khan Nasir on Friday said Pakistan and Saudi Arabia enjoy brotherly relations rooted in faith, mutual trust and shared prosperity, adding that Saudi Vision 2030 has created significant opportunities for Pakistani businesses to expand into the Kingdom.
He made the remarks while addressing the Saudi Company Formation and Business Expansion Summit 2026, organized by Al Raee Group in Islamabad as the chief guest.
Congratulating Al Raee Group and the Kingdom of Saudi Arabia on organizing the summit, Nasir described the event as a timely initiative to strengthen economic connectivity and give fresh momentum to bilateral trade and investment.
He said the Senate of Pakistan and the government would continue extending full support to initiatives that promote economic growth, generate employment and facilitate technology transfer between the two countries.
Speaking on the occasion, Al Raee Group Chairman Bilal M. Zubair highlighted Saudi Arabia’s business-friendly investment environment under Saudi Vision 2030. He said the Kingdom now allows 100 percent foreign ownership, offers simplified banking procedures and has abolished minimum capital requirements for various business activities to encourage foreign investment.
He explained that Pakistani private limited companies and partnership firms operating for at least one year can establish businesses in Saudi Arabia by submitting essential documents, including a Certificate of Incorporation and audited financial statements.
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Atif Ikram Sheikh emphasized the importance of strengthening private-sector collaboration between Pakistan and Saudi Arabia. He appreciated Al Raee Group’s efforts in serving as a bridge for enhancing bilateral trade and investment.
The summit was attended by foreign diplomats, prominent investors and senior corporate executives representing a range of national and international companies.
A key highlight of the event was the signing of Memorandums of Understanding (MoUs) between Al Raee Group and representatives of 12 leading Pakistani companies from diverse sectors. Under the agreements, the companies will establish operations and undertake major investments in Saudi Arabia.
The organizers said the agreements mark an important step toward expanding bilateral investment cooperation and strengthening the long-term economic partnership between Pakistan and Saudi Arabia.
