• March 8, 2024
• Information Technology
• Web Desk

The burgeoning partnership between Pakistan and the Kingdom of Saudi Arabia (KSA) in the realms of Information Technology and Telecom received a significant boost at the LEAP 2024 technology conference, one of the world’s premier tech events. The event served as a dynamic hub where innovators, investors, and industry leaders explored cutting-edge technologies and forged lucrative collaborations.

Pakistan’s contingent was among the largest at this year’s LEAP, with a 162 sqm pavilion hosting 74 companies and over 800 delegates. These companies showcased a wide array of solutions in Artificial intelligence (AI), Internet of Things (IoT), blockchain, cybersecurity, cloud solutions, health tech, fintech, web and mobile app development, and more. This robust presence demonstrated Pakistan’s strong business potential in the Saudi market.

Former Pakistani Minister for Investment and founder of Nutshell Group, Muhammad Azfar Ahsan, highlighted the importance of the Pakistan-Saudi Arabia partnership during his appearances at LEAP. He acknowledged the dynamic leadership of Saudi Crown Prince Mohammad bin Salman and his visionary initiatives, calling for enhanced collaboration between the two countries for mutual growth and prosperity.

To kickstart the conference, the Pakistan Software Export Board (PSEB) and Pakistan Software Houses Association (P@SHA) collaborated with the Pakistani Embassy in Riyadh to host the “Saudi-Pak Tech Forum” on March 3rd. This high-profile event, attended by key Saudi government officials and industry leaders, laid the groundwork for successful partnerships during LEAP.

“Pakistan and Saudi Arabia share a vision to harness technology for mutual growth,” said Ms. Aisha Moriani, CEO of PSEB. “LEAP 2024 offered Pakistani companies a world stage to showcase our innovation and forge connections in the booming Middle East market.”

Pakistan’s IT industry, one of the top five export sectors in the country, has experienced remarkable growth. With over 40 Software Technology Parks and Special Technology Zones and services exported to over 170 countries, Pakistan offers a conducive environment for IT businesses. The government’s active support through the PSEB includes incentives like 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits for IT exports.

Furthermore, Pakistan’s strategic location as a gateway to Central Asia, its advanced connectivity with 6-8 marine cables, and its time zone advantages position it as an attractive destination for establishing a digital corridor to the Middle East, Africa, and Asia. With approximately 75,000 IT graduates annually and a skilled workforce, Pakistan is poised to make significant contributions to the global digital industry.

The collaborative effort between KSA and Pakistan at LEAP 2024 not only strengthened bilateral ties but also propelled both nations toward a future marked by technological advancements and mutual prosperity.