2003 News Story

Saudi Arabia and Pakistan finance joint ventures

The Saudi-Pak Industrial and Agricultural Investment Company (SPIAIC), jointly founded by the Saudi and Pakistani governments to promote investment and industrialization, has approved financing of SR57 million [U.S. $15.22 million] for 19 companies. The project will generate new employment opportunities in Pakistan. Assisting in the process is the joint business council of Saudi and Pakistani businessmen set up by the Federation of Pakistani Chambers of Commerce and Industry (FPCCI) and the Council of Saudi Chambers of Commerce and Industry (CSCCI).