ISLAMABAD: Saudi fast-food giant Albaik is set to launch operations in Pakistan, with plans to establish outlets in major cities, Commerce Minister Jam Kamal Khan announced during his visit to Jeddah on Saturday.
The minister toured Albaik’s facilities and engaged with Pakistani employees working there.
Albaik confirmed that its expansion into Pakistan is in the final stages, following the signing of a memorandum of understanding (MOU).
During the first-ever Made in Pakistan exhibition, discussions focused on business collaborations, investment opportunities, and the entry of Saudi brands into the Pakistani market, according to a press release issued on Saturday.
In key discussions with Saudi business leaders, the minister encouraged investment in Pakistan’s energy, agriculture, IT, healthcare, infrastructure, and consumer goods sectors.
He highlighted a 22% increase in Pakistan’s exports to Saudi Arabia, reaching $700 million, and assured Saudi investors of a business-friendly environment with tax incentives, investor protection laws, and access to a 240-million-strong consumer market.
Saudi business leaders showed interest in partnering with Pakistani counterparts, particularly in the construction materials, textile, and food industries.
Proposals were discussed to strengthen trade ties and industrial investment, with the minister inviting Saudi investors to participate in trade exhibitions like TEXPO, Food-AG, and the Healthcare & Mineral Show in Pakistan.
Talks also addressed Pakistan’s recent ease-of-doing-business initiatives, such as the Pakistan Single Window (PSW) and the National Compliance Centre, aimed at streamlining trade regulations and improving export standards.
A key highlight of the visit was Minister Jam Kamal Khan’s meeting with Albaik owner Rami Abu Ghazala. During a tour of Albaik’s operations, he interacted with Pakistani employees and discussed the brand’s entry into Pakistan.
Albaik reaffirmed that its expansion process is nearing completion, with branches expected to open soon, creating employment opportunities and strengthening economic ties between the two countries.
The minister acknowledged the contributions of Pakistani workers within Saudi businesses like Albaik and welcomed the brand’s arrival in Pakistan, noting its potential to boost the fast-food industry and consumer market.
In another significant meeting, the minister met with Pakistani investors and business leaders in Jeddah, appreciating their long-standing contributions to Saudi Arabia’s economic landscape.
He noted that 1.7 million Pakistanis traveled to Saudi Arabia in the past five years, making it the top destination for Pakistani emigrants.
The minister also highlighted that remittances from Saudi Arabia reached $7.4 billion last fiscal year, emphasizing the strong financial ties between the two nations.
He praised the Pakistan Investor Forum in Jeddah for supporting new market entrants and fostering Pakistan-Saudi business collaborations.
Additionally, he encouraged Pakistani investors to take advantage of the country’s Revised Visa Policy, which grants GCC citizens visa-free entry to Pakistan for up to 90 days, facilitating business travel.
Minister Jam Kamal Khan’s engagements in Jeddah reinforced Pakistan’s commitment to strengthening trade relations with Saudi Arabia. From Saudi business leaders expressing confidence in Pakistan’s economy to Albaik’s upcoming expansion, the visit marked a significant step in deepening economic and trade partnerships between the two nations.
With increasing Saudi interest in Pakistani industries, rising trade volumes, and new business ventures, the Pakistan-Saudi economic corridor is poised for further growth, creating promising opportunities for both countries.
