PM Shehbaz declares Pakistan open for business, highlight opportunity.
The three-day Future Investment Initiative Summit (FII), sometimes known as “Davos in the Desert,” is being held in Riyadh, the capital of Saudi Arabia, to examine issues facing the world economy. He suggests different ideas about business in Riyadh.
The prime minister is in attendance. He suggested different ideas for business in Riyadh.
Technology is a “great equalizer, which can cut through social, cultural, and financial boundaries, and empower those who are qualified to utilize it,” the prime minister claimed in his speech.
He remarked, “I have observed with great satisfaction how young men and women are establishing their careers in Pakistan, just as I have seen in Riyadh.
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“Pakistan is the fourth most popular nation for independent contractors. Take into account the following: a sizable, young, digitally savvy population; and a sizable unmet demand that can in no way supply current production methods.
Investors and businesspeople here can see the significance of this enormous demand, he claimed.
Shehbaz claimed that “global warming is upon us” due to the fact that severe temperatures are altering weather patterns and upsetting the harmony of the natural world and its ecosystems.
With less than 1% of global carbon emissions, countries like Pakistan are particularly vulnerable to the effects of climate change, he claimed, citing recent flash floods that submerged one-third of the nation.
This entirely caused climate change and was not our doing. Therefore, the northern hemisphere must comprehend that the nations that have suffered from climate-related torrential destruction need to be supported and provided the necessary assistance in terms of technology and design to have a resilient infrastructure.
According to Shehbaz, the recent flash floods affected over 33 million people and claimed the lives of more than 1,700 people.
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The prime minister praised friendly nations’ help, praising the Kingdom of Saudi Arabia in particular for their “timely support.”
In his concluding remarks, PM Shehbaz stated that clean energy is the engine of the new economy as society places a higher value on sustainability.
In order to meet Pakistan’s peak load demand, he said, “As Prime Minister of Pakistan, I am leading from the front for the development of 10,000 MW of solar power.”
He also stressed the importance of moving toward renewable energy for developing nations like Pakistan, which cannot afford to import oil and gas at exorbitant prices.
“While the market is booming with a young, rising population, we are also modernizing our infrastructure. Additionally, he noted, the government supports private businesses as the engine of the economy.
I’d want to invite the present investors to step forward and make an investment in the renewable energy sector,” he stated.
PM Shehbaz Suggested About Business in Riyadh.
Shehbaz also suggested that FII take into account setting up a satellite center in one of Pakistan’s top colleges in order to examine the nation’s quickly expanding market and encourage innovation among its young people.
To harness this capacity, he said, “the satellite may become the hub of a network of researchers, innovators, investors, and service providers,” which, if optimized, would propel Pakistan to a high degree of social and economic growth.
Davos-style investment conference with hundreds of CEOs and financial titans scheduled on Tuesday in Riyadh. Analysts predict that this event will emphasize Saudi Arabia’s geopolitical clout despite tense relations with the US.
PM Shehbaz will speak with the Saudi Crown Prince during his two-day visit to Riyadh in order to assess their long-standing friendship and discuss ways to further deepen their numerous areas of collaboration, particularly in the economy.
The FII, which was established in 2017, serves as a showcase for Crown Prince Mohammed bin Salman‘s Vision 2030 growth plan, which aims to entice global finance and talent and wean the Saudi economy off of oil by developing new industries that also provide jobs for millions of Saudis.
According to FII organizers, this year’s edition attracted 7,000 delegates, up from 4,000 in 2017.
