SIFC, Saudi firm sign agreement to ‘cultivate 5,000 acres of cattle fodder'

Country: Pakistan
SIFC, Saudi firm sign agreement to ‘cultivate 5,000 acres of cattle fodder'
18 March 2024

The article discusses a significant agreement between Pakistan and Saudi Arabia, aiming to leverage Pakistan's fertile soil for breeding high-quality livestock and exporting fodder, particularly alfalfa, to Saudi Arabia. The agreement, facilitated by the Special Investment Facilitation Council (SIFC) and Saudi Arabia’s Najd Gateway Holding Company, entails the cultivation of 5,000 acres of alfalfa cattle fodder for export purposes.

This agreement underscores the potential of Pakistani soil for producing high-quality livestock products, emphasizing the importance of alfalfa as a staple diet for various domestic animals due to its high nutritional and protein content. The SIFC, functioning as a platform to attract foreign investments, plays a pivotal role in facilitating such agreements and improving Pakistan's investment ecosystem.

The signing of this agreement aligns with Saudi Arabia's broader investment commitment of $25 billion, along with the UAE, announced in September 2023. Additionally, it reflects the continued support of Saudi Arabia for Pakistan, as demonstrated by Crown Prince Mohammad Bin Salman's congratulatory phone call to Prime Minister Shehbaz Sharif upon assuming office.

Furthermore, the article highlights the enduring bilateral relations between Pakistan and Saudi Arabia, evident in various initiatives such as the distribution of high-quality dates as gifts during Ramadan, reflecting the strong state-level ties between the two countries. Saudi Arabia's support to Pakistan extends beyond economic cooperation, encompassing assistance during economic crises and defense collaboration.

Overall, the agreement signifies a strategic partnership between Pakistan and Saudi Arabia in the livestock sector, leveraging Pakistan's agricultural potential and Saudi Arabia's investment commitment to foster mutual economic growth and cooperation.

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