President Musharraf hails Saudi investors

A delegation of prominent Saudi investors met President Pervez Musharraf, expressing a keen desire to introduce Chevrolet cars in the rapidly

growing automobile sector of Pakistan.

Shaikh Muhammad Omar Balubaid, the leader of the delegation, informed the president that initially the group intended to invest in the manufacturing of 1,000 and 800 cc brands of the world-famous Chevrolet cars in Pakistan.


President Musharraf welcomed the Saudi entrepreneurs� deep interest in the investment opportunities and stated that the automobile was the fastest growing industry in the country with 800 cc cars, being the most popular vehicles.



The president informed the Saudi investors that Pakistan had a business-friendly environment with a 6.4 per cent economic growth rate, thus holding out win-win potential for both the entrepreneurs and the people. In this context, Musharraf referred to the fact that of the over 600 international companies having concerns in Pakistan, almost all have been doing profitable business in the investment-friendly climate.




He recounted a range of steps taken by the government for facilitating foreign investors and said a number of fields, including the information technology, telecommunications, agriculture and pharmaceuticals, had tremendous prospects for investment.


"The success of economic reforms coupled with more foreign investment will touch off sustainable economic advancement of Pakistan, generating employment opportunities for the hard-working and talented Pakistani manpower," Musharraf said.

Shaikh Balubaid, on his first ever visit to Pakistan, said he was greatly impressed by the rapid economic growth of the country, adding that Pakistan offered attractive business prospects in many fields. He said the delegation would explore opportunities for business in other promising economic areas as well.