It was announced on Saturday that popular Saudi fast-food chain Al Baik was expanding into Pakistan by Attaullah Tarar, the information minister.
“Saudi investments are growing. Agreements have now exceeded $6 billion between both countries. Al Baik will soon enter Pakistan, and Aramco has opened its first fuel station here,” Tarar told reporters.
Taking note of Pakistan’s improving international economic standing, the minister pointed out that several allied countries are now interested in expanding their investments in the country.
He revealed that Qatar and Azerbaijan intend to contribute $3 billion and $2 billion, respectively. A port development agreement was also signed between Pakistan and Abu Dhabi last week.
As remittances have reached $8 billion, this will create significant employment opportunities, Tarar stated, emphasizing remittances’ positive effect on the national economy.
Remarking that Pakistani remittances are contributing substantially to Pakistan’s foreign exchange, he praised the contribution of Pakistanis abroad.
An important milestone in the expansion strategy for the food chain in Pakistan was reached when Saudi Arabia’s Al Baik Food System Company signed a strategic memorandum of understanding with Pakistan’s Gas and Oil Pakistan Ltd (GO) to open and operate its outlets throughout Pakistan.
In addition to Saudi Arabia’s Minister of Investment, Engineer Khalid Al-Falih, senior Saudi and Pakistani officials attended the signing ceremony.
Its signature broast chicken has earned AlBaik widespread recognition since its establishment in 1974 in Jeddah.
As a result of its over 120 outlets in Saudi Arabia, Bahrain, and elsewhere, the chain has developed a loyal following, especially among Pakistani expatriates and tourists to the country for business or religious reasons.
The company, backed by Saudi Aramco to the tune of 40%, is positioned to support the launch of Al Baik in Pakistan.
Timenews1 provided that news.
+ There are no comments
Add yours