Follow Us on Google News
Saudi Arabia’s well-known fast-food brand, Al Baik, is gearing up to launch its services in Pakistan, as confirmed by Pakistan’s Information Minister, Attaullah Tarar, on Saturday.
This eagerly awaited development is part of a larger trend of foreign investments flowing into Pakistan, as regional partners work to strengthen their economic connections with the country.
“Saudi investments in Pakistan are on the rise. Recent deals with Saudi Arabia have exceeded $6 billion,” Tarar remarked in Lahore, mentioning that “Al Baik is poised to open soon in Pakistan, and Aramco has already kicked off its inaugural fuel station here.”
This announcement is further supported by new investments from neighboring nations. Qatar is set to invest $3 billion, while Azerbaijan has pledged a $2 billion investment. Pakistan has also recently concluded a strategic agreement for port development with Abu Dhabi, highlighting the country’s increasing attractiveness to foreign investors.
Tarar underscored the economic significance of these investments, pointing out that foreign reserves have climbed to $11 billion, with remittances from overseas Pakistanis reaching $8 billion. “These investments will create substantial job opportunities and promote economic development,” he stated.
The establishment of Al Baik in Pakistan was formalized through a Memorandum of Understanding between Al Baik Food System Company and Pakistan’s Gas and Oil Pakistan Ltd (GO).
The agreement was finalized at a ceremony held in Islamabad, attended by Saudi Minister of Investment Engineer Khalid Al-Falih and high-ranking officials from both countries.
This strategic collaboration will enable Al Baik to set up and manage its outlets throughout Pakistan, bringing the brand’s renowned broast chicken to a new consumer base.
