AlBaik in Pakistan: job opportunities, trade growth on the horizon

ISLAMABAD: Saudi fast-food chain AlBaik has confirmed its plans to expand into Pakistan, stating that the process is nearing completion after signing a memorandum of understanding (MoU) last year.

The Ministry of Commerce (MoC) announced that the inaugural AlBaik outlets in Pakistan are expected to open shortly, which will generate new job opportunities and bolster economic ties between the two countries. This announcement came during a meeting between Federal Minister for Commerce Jam Kamal Khan and AlBaik owner Rami Abu Ghazala.

In October, AlBaik signed an MoU with Gas & Oil Pakistan Ltd (GO) to investigate a strategic partnership for establishing and operating AlBaik restaurants in the country as part of the company’s growth objectives.

The MoC statement indicated that Minister Kamal toured AlBaik’s operations and met with Pakistani employees at the fast-food company. He lauded the contributions of Pakistani workers in Saudi businesses like AlBaik and welcomed the brand’s entry into the Pakistani market, noting its potential to elevate the country’s fast-food industry and consumer base.

Kamal was involved in several significant meetings in Jeddah to enhance trade and investment partnerships between Pakistan and Saudi Arabia. These discussions, held during the first-ever “Made in Pakistan” exhibition, focused on business collaborations, investment opportunities, and the entry of Saudi brands into Pakistan.

Also read: Saudi food chain AlBaik to make debut in Pakistan

During a meeting with prominent Saudi businessmen, Kamal invited them to explore investment prospects in sectors such as energy, agriculture, IT, healthcare, infrastructure, and consumer goods. He highlighted that Pakistan’s exports to Saudi Arabia grew by 22%, reaching $700 million, and reassured Saudi investors of a business-friendly climate, characterized by tax exemptions, investor protection laws, and access to a consumer market of 240 million.

The commerce ministry reported that Saudi business leaders expressed a strong interest in collaborating with Pakistani counterparts, particularly in the construction materials, textiles, and food sectors. Various proposals were discussed to enhance trade partnerships and industrial investments, with the federal minister inviting them to visit Pakistan and partake in trade exhibitions such as TEXPO, Food-AG, and the Healthcare & Mineral Show.

The discussions also covered Pakistan’s recent initiatives to ease doing business, including the creation of the Pakistan Single Window (PSW) and the National Compliance Centre, aimed at simplifying trade regulations and improving export standards.

The minister pointed out the USD7.4 billion in remittances sent from Saudi Arabia in the last fiscal year, underscoring the strong financial ties between the two nations.

According to Kamal, the recently established Pakistan Investor Forum in Jeddah was instrumental in guiding new market entrants and promoting Pakistani-Saudi business collaborations. He also encouraged Pakistani investors to take advantage of the Revised Visa Policy, which allows Gulf Cooperation Council (GCC) citizens to enter Pakistan visa-free for up to 90 days, facilitating easier business travel.