ISLAMABAD, Oct 15: The Investment Division and Board of Investment in collaboration with Saudi Ministry of Finance and Consul of Saudi Chamber of Commerce and Industry will be organising investor conferences in Riyadh and Jeddah on October 20 and 21, respectively.

Minister for Finance Syed Naveed Qamar will head the business delegations from Pakistan, said a BoI press release here on Wednesday.

The purpose of these conferences is to promote and amplify investment in the brotherly countries through partnership among public sector and business community, it added.

This endeavour will surely serve to the best interest of Pakistan and Saudi Arabia in providing a platform to promote the tremendous potential of the two nations.

From the Pakistan side ministries of food, agriculture and livestock, housing and works, Punjab Agri-marketing company, Private Power

Infrastructure Board, Infrastructure Project Development Facility, Federation of Pakistan Chamber of Commerce and Industry and leading businessmen would be participating in the conferences.

These conferences will provide Pakistani investors better prospect of having meetings with their Saudi counterparts and discuss modalities and opportunities of investments in Pakistan.

Key areas of business focus would be agriculture, dairy and livestock, construction and real estate and infrastructure sector.

It may be recalled that Foreign Direct Investment (FDI) inflow in Pakistan from Saudi Arabia over the last 10 years has been over $600 million, which has been very crucial in revamping the economic growth by bringing in the corporate culture and creating employment.

Two major projects in the pipeline are Al-Tuwairqi Steel Mill in Karachi with an investment of $100 million and construction of centaurus in the heart of the capital by Pak-Gulf Construction with an estimated investment of around $450 million.

Moreover, Saudi Arabia is the 4th largest source of imports for Pakistan.—APP