Punjab Chief Minister Maryam Nawaz Unveils Tax-Free Special Saudi Industrial Estate

In a significant move to enhance foreign investment, Punjab’s Chief Minister, Maryam Nawaz, has announced the establishment of a tax-free Special Saudi Industrial Estate. This initiative aims to bolster economic cooperation between Pakistan and the Kingdom of Saudi Arabia.

Strengthening Economic Ties

The announcement was made during a meeting in Lahore with a high-level Saudi delegation led by Prince Mansour bin Mohammad bin Saad Al Saud, Chairman of the Pakistan-Saudi Business Forum. During the meeting, the delegation was briefed on key development projects and governance reforms in Punjab, showcasing the province’s commitment to modernization and growth.

Focus on Investment Opportunities

Expressing appreciation for Punjab’s people-centric development agenda, Saudi officials highlighted their interest in exploring various sectors. CM Maryam outlined promising investment opportunities in:

• Livestock
• Mining
• Infrastructure
• Meat Processing
• Information Technology

Special Incentives for Investors

The proposed Saudi Industrial Estate will include lucrative incentives such as:

• A ten-year tax holiday
• A one-time customs duty waiver for imports related to the project

To ensure effective implementation, a special fast-track office will operate within the Chief Minister’s office, dedicated to facilitating the investment process.

Commitment to Bilateral Cooperation

In an effort to enhance collaboration, the Punjab government has extended an invitation to the Saudi delegation to utilize the services of the Punjab Mass Transit Authority in operating the Mashar and Maqdis Metro Trains in Makkah.

A Vision for Zero Delays

Maryam emphasized Punjab’s commitment to a ‘zero time to start’ investment policy, aimed at eliminating delays and accelerating project launches. She stated, “The public-private partnership framework enables large-scale collaboration in key sectors such as energy, agriculture, mining, logistics, and tourism.”

Joint Working Groups and Development Roadmaps

To further promote practical cooperation, the Chief Minister proposed the establishment of joint working groups between Pakistan and Saudi Arabia. These groups would focus on priority sectors, backed by 30-, 60-, and 90-day roadmaps for measurable outcomes.

Pakistan’s First Central Business District

Maryam highlighted the ongoing development of Pakistan’s first Central Business District (CBD) in Lahore, which reflects the government’s vision for economic transformation and modernization.

Historic Defence Pact

Expressing gratitude for the recent defence pact signed between Pakistan and Saudi Arabia, Maryam stated that it represents a shared commitment to safeguarding peace in the region, particularly in the holy cities of Islam, Makkah, and Madina.

Invitation to Saudi Investors

Reaffirming Punjab’s vital role as Pakistan’s economic backbone, she invited Saudi investors to join the province’s transformative journey towards development and prosperity. Highlighting the Special Investment Facilitation Council (SIFC) and Punjab Business Facilitation Centre, she assured investors of streamlined approvals and fast-track implementation processes.

The Future of Investment in Punjab

Maryam expressed optimism about Punjab entering a new era of investment, opportunity, and innovation, driven by a skilled youth workforce. She stated, “We hope Saudi investment and Punjab’s hard work will combine to create a prosperous future for generations to come.”

Prince Mansour’s Response

Prince Mansour thanked the Punjab government for its warm hospitality and reaffirmed the deep-rooted ties between Pakistan and Saudi Arabia. He indicated that the delegation’s purpose was not only to explore investment but also to strengthen supportive relations.

Unity Through Investment

He announced that the next phase of the strategic initiative would include transitioning operations from Madina to Pakistan under the ‘Made in Madina’ vision. “This vision signifies unity and progress for the Muslim community,” he explained, adding that products manufactured in Pakistan would be exported to various markets within the Muslim world and beyond.

Exploring Mining Sector Opportunities

The Saudi delegation expressed interest in evaluating the investment potential within Punjab’s robust mining sector, anticipating a thorough review in the upcoming meetings.

This announcement signals Punjab’s proactive approach to investment and international cooperation, reinforcing the province’s commitment to becoming a central hub of economic activity in the region.