Pakistan’s Federal Minister for Commerce, Jam Kamal Khan, recently held pivotal meetings in Jeddah to bolster trade and investment between Pakistan and Saudi Arabia. These discussions, part of the inaugural “Made in Pakistan” exhibition, aimed to foster business collaborations and explore opportunities for Saudi brands in Pakistan. The talks underscored the growing economic partnership between the two nations, with AlBaik’s expansion being a key highlight.
Focus on Investment Opportunities
During his visit, Kamal Khan met with prominent Saudi businessmen, inviting them to invest in Pakistan’s energy, agriculture, IT, healthcare, infrastructure, and consumer goods sectors. He highlighted Pakistan’s 22% export growth to Saudi Arabia, totaling $700 million, and emphasized the country’s business-friendly policies, including tax exemptions and investor protection laws, to attract foreign investment. AlBaik’s decision to open 200 franchises in Pakistan is a testament to these efforts.
Saudi Interest in Pakistani Markets
Saudi business leaders expressed strong interest in collaborating with Pakistani counterparts, particularly in construction materials, textiles, and food industries. The discussions included proposals to enhance trade partnerships and industrial investments. Kamal Khan also invited Saudi investors to participate in Pakistani trade exhibitions like TEXPO, Food-AG, and the Healthcare & Mineral Show to explore further opportunities, including AlBaik’s large-scale franchise plans.
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Ease of Doing Business Initiatives
The commerce minister showcased Pakistan’s recent reforms to improve the ease of doing business, including the Pakistan Single Window (PSW) and the National Compliance Centre. These initiatives aim to streamline trade regulations, enhance export standards, and create a more conducive environment for foreign investors. AlBaik’s decision to launch 200 franchises reflects confidence in these reforms and Pakistan’s growing consumer market.
AlBaik’s Expansion into Pakistan
A key highlight of Kamal Khan’s visit was his meeting with AlBaik owner Rami Abu Ghazala. The minister toured AlBaik’s operations and interacted with Pakistani employees. AlBaik confirmed its plans to expand into Pakistan, with the process in its final stages following the signing of a Memorandum of Understanding (MOU). The brand aims to open 200 franchises across the country, creating thousands of jobs and boosting economic ties.
Boosting Pakistan’s Fast-Food Industry
Kamal Khan welcomed AlBaik’s entry into Pakistan, emphasizing its potential to elevate the country’s fast-food industry. The brand’s expansion is expected to introduce high-quality food options, create employment opportunities, and contribute to the local economy. With 200 franchises planned, AlBaik is set to become a major player in Pakistan’s thriving food sector, offering consumers a new dining experience.
Recognizing Pakistani Workers in Saudi Arabia
During his visit, Kamal Khan acknowledged the contributions of Pakistani workers in Saudi businesses, including AlBaik. He highlighted the role of 1.7 million Pakistanis who have travelled to Saudi Arabia in the past five years, making it the top destination for Pakistani emigrants. Their remittances, totaling $7.4 billion last fiscal year, play a crucial role in Pakistan’s economy. AlBaik’s franchises will further strengthen these ties.
Pakistan Investor Forum’s Role
The minister also met with Pakistani investors and business leaders in Jeddah, recognizing their efforts in strengthening Saudi Arabia’s economy. He highlighted the Pakistan Investor Forum’s role in guiding new market entrants and fostering collaboration between Pakistani and Saudi businesses. This platform is instrumental in promoting investment and trade between the two nations, including AlBaik’s ambitious franchise plans.
A Win-Win Partnership
The discussions in Jeddah underscored the mutual benefits of enhanced Pakistan-Saudi Arabia trade relations. Saudi investments in Pakistan, coupled with AlBaik’s expansion, signify a win-win partnership. The launch of 200 franchises is expected to create thousands of jobs, boost economic growth, and strengthen bilateral ties, paving the way for a prosperous future for both nations.
AlBaik’s Franchise Model: Opportunities for Local Entrepreneurs
AlBaik’s franchise model presents a significant opportunity for local entrepreneurs in Pakistan. By partnering with the brand, Pakistani business owners can benefit from AlBaik’s globally recognized standards, operational expertise, and marketing strategies. The 200 franchises will not only create direct employment but also stimulate ancillary industries, such as supply chain and logistics, further boosting the economy.
Conclusion
AlBaik’s launch of 200 franchises in Pakistan marks a significant milestone in the country’s economic landscape. Supported by Jam Kamal Khan’s efforts to attract foreign investment, this expansion reflects the growing confidence of international brands in Pakistan’s market. As Pakistan and Saudi Arabia continue to deepen their economic ties, such collaborations promise to bring mutual growth, prosperity, and a new era of culinary excellence to Pakistan.
