Agri, Defence, IT and Mines Sectors: Saudi Arabia Invests $0.5bn Under SIFC so far

ISLAMABAD: Saudi Arabia has made half a billion dollars investment under the Special Investment Facilitation Council (SIFC) so far since its formation on June 17, 2023, and also showed keen interest to make more investment in days to come, well-placed sources revealed.

The sources further maintained that Saudi Arabia including other foreign investors wants to invest in Pakistan in four sectors, including agriculture being the top priority followed by defence production, information technology, mines and minerals.

An agriculture information management system will be inaugurated Friday (July 7).

The initiative of the SIFC would be used to promote agriculture and attract investment for modern farming and technology integration in this sector.

“Land Information and Management System (LIMS) is a step in the right direction taken by Government of Pakistan and Pakistan Army for promotion of modern agriculture,” the source further maintained.

Pakistan has the 11th largest agricultural land in the world with a total area of 79.6 million acres, of which, 24.1 million acres are cultivated and 9.1 million acres are vacant.

The sources further stated that the government intends to transform ties with friendly countries under the SIFC so that they invest in Pakistan rather than provide aid. READ MORE

 

 

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