The best gift Saudi Arabia can give Pakistan is a blueprint for change

The much-anticipated Saudi investment has yet to materialize in a meaningful way, despite multiple rounds of visits and hundreds of memorandums of understanding (MOUs).

Both sides likely have MOU fatigue by now. After all, the whole world, including the U.S., is courting the Saudis for investment, and in Pakistan, attention has shifted back to traditional lenders—the International Finance Corporation (IFC), the World Bank, and the International Monetary Fund (IMF).

This does not mean Saudi Arabia has not supported Pakistan’s economy. In fact, it is highly likely that the current IMF program, which helped Pakistan avoid sovereign default, would not have been possible without the rollover of debt and commitments for further support from the Saudi government.

However, an even more valuable way Pakistan can benefit from its relationship with Saudi Arabia is by learning from its Vision 2030 transformation.

Last week, I attended the Future Investment Initiative (FII) Priority Summit in Miami. I have attended similar events in Rio, London, and the flagship event in Riyadh. But Miami was on a different level. President Donald Trump delivered the opening speech, accompanied by key figures like Elon Musk, Jared Kushner, and Steve Witcoff.

Business and tech leaders—including Eric Schmidt, Sir Len Blavatnik, Sir Martin Sorrell, Travis Kalanick, Masayoshi Son, Michael Saylor, Cathie Wood, Ken Griffin, and Steve Cohen—flocked to the event, all seeking investment from Saudi Arabia.

Many tailed Yasser Al-Rumayyan, the governor of the Public Investment Fund (PIF). The scene underscored not only Saudi Arabia’s financial strength but also its strategic focus and ambitious targets.

The Kingdom aims to lead in technology sectors such as Artificial Intelligence (AI), robotics, and renewable energy. At previous FII events, the focus also extended to food security. Saudi Arabia’s approach is nothing short of a masterclass in strategic engagement.

I hope Pakistan’s leadership takes inspiration from its repeated interactions with Saudi counterparts. Developing technical skills such as presentation, communication, and storytelling should be relatively straightforward.

More complex capabilities—like negotiation and deal-making—require deeper learning. The most urgent lesson Pakistan must absorb is how a nation can achieve drastic transformation in a short span of time.

Pakistan has formulated the Uraan Pakistan plan, modeled after Vision 2030. However, what makes Vision 2030 successful is that it is not just a document filled with key performance indicators (KPIs) and targets. It is, at its core, a shared dream—one of building an ambitious, thriving, and prosperous nation.

Such visions are not mere rhetoric. For any plan to succeed, it must be a collective aspiration embraced by society. To be widely adopted, it must be bold enough to inspire.

Unfortunately, after repeated failures, Pakistan has become too cautious, even timid, in setting high ambitions. But nations need pride and grand aspirations to drive change.

Three key areas where Saudi Arabia’s vision is most evident are:

1. Tourism giga-projects such as Neom, AlUla, and Diriyah.
2. Heavy investment in technology.
3. Strategic focus on sports.

While international media has largely focused on Neom due to its scale, projects like Diriyah and AlUla have already opened to the public, progressing on schedule and under budget.

At the FII Summit, Diriyah project CEO Jerry Inzerillo enthusiastically made his signature “number one” gesture, underscoring Saudi Arabia’s goal to make Diriyah the world’s leading cultural destination.

Once the ruins of the Kingdom’s birthplace, Diriyah now draws more than 11,000 tourists daily, with all residential properties already sold out.

Pakistan should take note of this transformation to develop its own historical sites, such as Taxila, Harappa, and Mohenjodaro. These locations boast far richer histories than many celebrated landmarks worldwide, yet the ambition to elevate them into global cultural hubs is missing.

In technology, Saudi Arabia has made striking progress. A Saudi woman astronaut recently traveled to the International Space Station. Just a few years ago, Saudi women were not even allowed to drive alone. Now, they are competing in Formula One and winning medals in equestrian sports. This rapid shift reflects a nation unafraid to dream big.

Lastly, Saudi Arabia’s commitment to sports is particularly impressive. The PIF’s investments in golf and football have helped position sports as a lucrative asset class.

At FII, speakers quoted Nelson Mandela’s famous words: “Sport has the power to change the world. It has the power to inspire. It has the power to unite people in a way that little else does. It speaks to youth in a language they understand. Sports can create hope where once there was only despair.”

Given Pakistan’s vast youth population, a strong focus on sports could provide a much-needed source of inspiration and prevent alienation and radicalization.

Pakistan stands to gain far more from emulating Saudi Arabia’s Vision 2030 than from short-term financial deals, such as selling its copper assets.

Once Pakistani leaders embrace a more ambitious vision, they may craft far more compelling investment opportunities—ones that go beyond mere resource sales and instead lay the foundation for long-term prosperity.

*The writer is the Chairman of KTrade Securities and a consultant for Stacks Foundation.

*The views and opinions expressed in this article are those of the author and do not necessarily reflect the editorial stance of Nukta.