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Saudi Arabia to invest Rs2.8 trillion

Saudi Crown Prince Mohammed bin Salman on Sunday said with the signing of $20 billion (Rs2.8 trillion) memoranda of understanding (MoUs) between Pakistan and Saudi Arabia in the first phase, the bilateral cooperation between the two brotherly countries would further grow in the coming months and years.He referred to the historic and deep relationship between the two countries and said those would further strengthen.

The crown prince, who arrived in Pakistan on a two-day visit, was speaking at a banquet hosted by Prime Minister Imran Khan here at the PM House in his honour.

The crown prince said the Kingdom of Saudi Arabia desired an economically and politically strong Pakistan. He said that the first phase of investment worth $20 billion in Pakistan has been completed and his country will invest further in future. The prince said that the investment will prove beneficial for both the countries. He said that Pakistan is an important friendly country for Saudi Arabia as the relationship and brotherhood between both countries will be further improved in coming days. He reminded that Pakistan is the first country that he is visiting after becoming the crown prince and starting the Asia tour with Pakistan as first destination. The crown prince was confident that Pakistan will move forward under the leadership of Imran Khan. He said Pakistan has vast potential in tourism and it will be an attractive country for tourism in future.

Imran Khan, welcoming the crown prince, said it was a great day for the Pakistani people. He said Saudi Arabia and its people lived in the hearts of Pakistanis not only because Makkah and Madina were in Saudi Arabia but owing to the fact that the kingdom had always been supporting Pakistan in the hour of need.

“We value it much,” he said. The prime minister said in the last six months in power, the greatest moment for him was to visit Makkah and Madina where he was allowed to go inside for which he was personally thankful to the kingdom.

Imran Khan also thanked the crown prince for the financial support the kingdom had extended recently to Pakistan.

“It is an exciting future where we have Saudi Arabia participating in what is going to be, in the next 10 years, probably the country with the biggest GDP,” Imran said and he also told the crown prince that if it hadn’t been for security concerns, “you would have seen thousands and thousands of people on the streets welcoming you”.

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