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Pakistan, Saudi Arabia likely to sign MoUs worth $10bn

IANS  |  Islamabad 

and are likely to sign memoranda of understanding (MoU) worth more than $10 billion this month, the media reported on Thursday.

The announcement was made at the second meeting on ease of doing business (EoDB) presided over by on Wednesday.

Speaking to Dawn news after the meeting, said Saudi would visit next month and most of the MoUs were expected to be signed during his trip.

(BoI) said was interested in Pakistan's four sectors - oil refinery, petrochemicals, and

"According to a survey, 65 per cent of the investments will take place in the country's commercial hub and 35 per cent in Lahore," he added.

The $10 billion investment will be in addition to the $6 billion bailout package given by to during Khan's visit to in October 2018.

Similarly, will also sign MoUs with China, the (UAE) and over the next two months.

Sharif told Dawn that he had recently visited and signed MoUs on industrial cooperation under the China-Pakistan Economic Corridor (CEPC).

The BoI said the UAE was interested in agriculture, housing and other sectors.

He said that four Malaysian firms were also due this month and would invest in four sectors - halal meat, gemstone, and hi-tech education.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 11:36 IST
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