Saudi fast-food chain giant AlBaik confirmed its expansion into Pakistan, stating that the process is in its final stages following the signing of a memorandum of understanding (MoU) last year.
“The first AlBaik branches in Pakistan are expected to open soon, creating new job opportunities and strengthening economic ties between the two nations,” read a statement released by the Ministry of Commerce (MoC) on Saturday.
The development came during Federal Minister for Commerce Jam Kamal Khan’s meeting with AlBaik owner Rami Abu Ghazala.
In October last year, the Saudi fast food brand signed a MoU with Gas & Oil Pakistan Ltd (GO) to explore the possibility of establishing a strategic partnership to set up and operate AlBaik restaurants in Pakistan, as part of the company’s expansion strategy.
As per the statement, the federal minister was given a tour of AlBaik’s operations, where he met Pakistani employees working at the fast-food giant.
Kamal appreciated the contributions of Pakistani workers within Saudi businesses like AlBaik and welcomed the brand’s entry into Pakistan, highlighting its potential to enhance the country’s fast-food industry and consumer market.
According to the ministry’s statement, Kamal held a series of high-profile meetings in Jeddah, focusing on enhancing trade and investment partnerships between Pakistan and Saudi Arabia.
The discussions, held during the first-ever “Made in Pakistan” exhibition, centred on business collaborations, investment opportunities, and Saudi brands entering the Pakistani market.
In a key meeting with prominent Saudi businessmen, Kamal invited them to explore investment opportunities in Pakistan in the energy, agriculture, IT, healthcare, infrastructure, and consumer goods sectors.
He highlighted Pakistan’s 22% export growth to Saudi Arabia, reaching $700 million, and assured Saudi investors of a business-friendly environment with tax exemptions, investor protection laws, and access to a 240-million-strong consumer market.
“Saudi business leaders expressed keen interest in collaborating with Pakistani counterparts, particularly in construction materials, textiles, and food industries,” the commerce ministry said.
Several proposals were discussed to enhance trade partnerships and industrial investment, with the federal minister extending an invitation for them to visit Pakistan and participate in trade exhibitions like TEXPO, Food-AG, and the Healthcare & Mineral Show.
The discussions also touched on Pakistan’s recent ease-of-doing-business initiatives, including Pakistan Single Window (PSW) and the National Compliance Centre, aimed at streamlining trade regulations and enhancing export standards.
The minister highlighted the $7.4 billion in remittances sent from Saudi Arabia last fiscal year, emphasizing the strong financial link between the two countries.
“He noted that the Pakistan Investor Forum, recently established in Jeddah, is playing a key role in guiding new market entrants and fostering Pakistani-Saudi business collaborations.”
Kamal also encouraged Pakistani investors to leverage the country’s Revised Visa Policy, which allows GCC citizens to enter Pakistan visa-free for up to 90 days, making business travel more convenient.
“From Saudi business leaders showing confidence in Pakistan’s economy to Albaik’s upcoming expansion, the visit marked a major step forward in deepening economic and trade relations between the two nations,” the ministry said.
It added that with growing Saudi interest in Pakistani industries, increasing trade volumes, and new business partnerships, the Pakistan-Saudi economic corridor is set to expand further, opening exciting opportunities for both countries.
American Dollar Exchange Rate