The Kingdom of Saudi Arabia and Pakistan’s cooperation in the field of information technology and telecommunications, as well as Pakistan’s significant participation in LEAP 2024, further solidified bilateral relations between the two countries. Collaborations like these are crucial to innovation, economic growth, and Pakistan’s role as a worldwide center of technology and innovation as the digital landscape develops.
With amazing success, Ejad Labs wrapped off the 11th Global Pakistan Tech Summit in Riyadh, Saudi Arabia, achieving a new milestone in its endeavor to promote Pakistan internationally. Held in Huna Takhassusi, the gathering of visionaries, industry experts, and respected IT executives promoted thought-provoking conversations and cooperative efforts. From March 4–7, nearly 1,800 exhibitors, 1,000 tech specialists, and 600 startups participated in the event. Major corporations and tech groups from the Gulf region flocked to the Pakistani pavilion, which was opened on March 4 by Ahmed Farooq, Pakistan’s ambassador to Saudi Arabia.
With a 162 square-meter pavilion, 74 companies, and over 800 delegates, Pakistan has one of the strongest contingents at LEAP this year. This indicates a strong corporate presence of Pakistanis in the KSA market. These businesses are demonstrating solutions in a variety of fields, including open source, e-commerce, data services, blockchain, AI, IoT, cyber security, cloud solutions, health tech, and fintech. The G20 Young Entrepreneurs’ Alliance President, Prince Fahad bin Mansour bin Nasser bin Abdul-Aziz Al Saud of the Kingdom of Saudi Arabia, praised the historic presence of Pakistani leaders in Riyadh for LEAP 2024 and emphasized the significance of the opportunities in KSA for Pakistani companies.
At the tech expo LEAP 2024 in Riyadh, Pakistani tech companies struck several deals with leading Saudi and international companies, according to a statement released on March 5 by the head of the Pakistani Software Producers’ Association. According to the chairman of the Pakistan Software Houses Association, Pakistani companies had the “largest-ever presence” of any South Asian nation in this sector, with over 70 enterprises and 800 delegates showcasing their products. Launched by the Prince in Islamabad last year, the Saudi-Pakistan Tech House initiative established 300 digital and technology initiatives worth $100 million, creating new jobs in the fields of IT and digital technologies.
The Prince has consistently advocated for increased technological cooperation between Pakistan and Saudi Arabia. He has collaborated with a Pakistani technological company in recent years, providing direct exposure to the remarkable potential of the nation. The Prince believes that Pakistan has the capacity to emerge as a global center for blockchain technology, artificial intelligence, software development, and other cutting-edge technologies, and he is committed to helping the country realize this potential.
Prince Fahad inaugurated the $100 million Saudi Arabia-Pakistan Tech House during his Future Fest 2022 tour to Pakistan. This venture is anticipated to create over 1,000 employees over the course of the next five years. ArzishAzam, the CEO of Ejad Labs and the founder of Future Fest, stressed Saudi Arabia’s position as a portal to the globe for Pakistani talent, while also highlighting Prince Fahad’s support for Pakistani talent. He brought up the substantial $200 million investment that Pakistan has received as a result of more than 70 Saudi delegates attending Future Fest 2022 in Lahore.
The important MOUs that were inked between the Gulf and Pakistan were quite important. To improve business-to-business collaboration, P@SHA and the IT Association of Bahrain inked their largest Memorandum of Understanding. Elm, a Saudi digital solution provider, and Pakistani Firm Abacus Consulting inked a Memorandum of Understanding to cooperate together. GISSAN, a Saudi company, teamed with Inbox Technologies. P@SHA and the official delegation of the Government of Oman enjoyed a fruitful meeting. On March 4, SuperNova Solutions, a major enterprise resource planning and business solutions supplier in Pakistan, announced a partnership with a well-known Saudi investor group in the IT and technology industry. “It is a crucial investment for SuperNova Solutions and Pakistan’s IT sector,” the business stated in a news release, citing the envoy.
The government aggressively encourages the IT industry through the Pakistan Software Export Board (PSEB), which provides income tax benefits for IT exports to international investors in addition to 100% equity ownership and 100% capital and dividend repatriation. Pakistan is a desirable tech destination because to its position as the second-largest supplier of online labor for software development and the fourth-largest English-speaking country in the world. Pakistan is the best option for creating a digital corridor that connects Middle Eastern, African, and Asian nations because of its advantageous location as a gateway to Central Asia.
Based on a remarkable 70 percent reduction in operational expenses as compared to North America, Pakistan can supply high-quality services at competitive pricing, making it the most financially appealing location for outsourcing, according to Kearney’s worldwide 2023 report. Given these elements, Pakistan becomes a prime location for a range of IT goods, services, and solutions. The nation’s advantageous geographic position, robust connectivity, and skilled workforce make it an ideal place to take advantage of these opportunities. The government’s recent efforts to promote Pakistan as a profitable hub for technology and to strengthen its international standing have greatly expanded the opportunities for Pakistani IT companies to grow internationally. Pakistan confirms that it is open for business and ready to take on the world by making a significant presence at Leap 2024. In addition to enhancing bilateral relations, the KSA and Pakistan’s cooperation at this event will lead both countries into a future marked by technological developments and shared prosperity.
(Malik Zaeem) .
