KARACHI: Pakistan on Wednesday pitched investment opportunities in its ports, shipping and logistics sectors to Saudi business leaders, as it seeks to expand maritime trade infrastructure and strengthen its position as a regional transit and transshipment hub.
The outreach comes as Islamabad pursues greater foreign investment in its maritime sector and seeks to capitalize on its location at the crossroads of South Asia, the Middle East and Central Asia.
Pakistani officials have increasingly promoted the country's southern shores as gateways for trade with landlocked Central Asian states while pursuing partnerships with foreign investors to expand port capacity, logistics networks and related infrastructure.
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry made the pitch during a virtual meeting with Mansour Bin Mohammed Al Saud, chairman of the Pakistan-Saudi Arabia Joint Business Council, and other participants from the kingdom.
"Pakistan’s maritime sector presents strong investment potential, particularly in ports, logistics, blue economy initiatives and supporting infrastructure," Chaudhry said, according to a statement released by his ministry after the meeting.
He said the government saw significant scope for collaboration with Saudi investors in line with the kingdom's Vision 2030 economic diversification agenda and Pakistan's own development priorities.
Participants discussed investment opportunities at Karachi Port, Port Qasim, Gwadar Port, the Pakistan National Shipping Corporation (PNSC) and the Korangi Fish Harbour Authority.
Chaudhry said Saudi investors could explore projects including a proposed maritime business district, a marine workshop project and drydock and floating dock facilities at Karachi Port.
He also highlighted opportunities at Port Qasim, Pakistan's principal industrial port located east of Karachi that handles a large share of the country's bulk cargo, energy imports and industrial trade.
Projects under consideration include a multipurpose cargo terminal, a second integrated oil terminal and storage farm and an energy city development.
The minister also invited Saudi investment in the expansion of the national shipping fleet and the establishment of a roughly 100-acre Aqua Research and Technology Park at the Korangi Fish Harbour Authority.
Saudi Arabia has been one of Pakistan's key economic partners, with both countries exploring investment opportunities across mining, energy, infrastructure and logistics sectors.
