Business
Pakistan, Saudi Arabia investors launch fund to boost trade, investment
A joint council of Saudi Arabian and Pakistani investors launched a private equity fund on Monday as part of the countries’ broader push to deepen two-way trade and private sector investment.
The Saudi-Pakistan Joint Business Council, formed by the governments of both countries, said the fund’s initial size is “multi hundred million”, which is expected to expand based on opportunities across sectors.
Three-fourths of the fund will be invested in Pakistan, while the rest will be invested in Saudi Arabian projects, the council said in a statement.
The launch of the fund comes at a time when Islamabad and Riyadh are deepening longstanding ties, especially in defense, amid few signs of a breakthrough in the months-long US-Iran conflict.