Riyadh, 2 October 2023 (WAI): On October 1, Pakistan and Saudi Arabia negotiated and established a memorandum of understanding (MoU) to collaborate in the information technology sector and other industries.
Pakistan’s Federal Minister of Information and Technology and Telecommunication (ITT), Umar Saif, met with Saudi Minister of Communication and IT, Abdullah Al-Sawahah, to finalize and sign the MoU.
Umar Saif stated that the MoU would allow Pakistani businesses to run effectively in Saudi Arabia. It will equip Saudi enterprises with well-trained IT personnel, set up a startup exchange program with leading Saudi tech institutes, and develop joint ventures with Saudi companies.
Saif stated, “Strategically, we aim at establishing close partnerships to establish the microchip manufacturing sector in Pakistan while focusing on electric automobiles, agriculture technology, lithium-ion batteries, and mining techs.”
The Minister and a delegation left for the Kingdom of Saudi Arabia on September 30. According to the Federal Minister, the tour will result in investments in the country and significant business for Pakistani IT businesses in Saudi Arabia.
According to Umar Saif, the Saudi Arabian Small and Medium Enterprises General Authority (Monsha’at) will work with Pakistan to help Pakistani IT enterprises and startups expand their business activities in the Kingdom.
Furthermore, he claimed that the Gulf States were an attractive marketplace for Pakistan’s IT firms, most already participating in regional projects.
“We are attempting to portray and promote Pakistan as an entity from where a lot of skilled professionals and tech experts can come for projects in the GCC region,” said the official.
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Pakistan and Saudi Arabia share outstanding relations, marked by mutual support. Latterly, ties between the two states have grown and fostered, particularly in the tech sector.
Saudi Arabia’s Vision 2030 emphasizes technological development and advancement, aligning with Pakistan’s aims to enhance the technology industry. The cooperation and connection have leveled the surface for collective efforts, which include investments and joint ventures.
Both states accept the potential for economic growth and transformation in the tech industry, actively working together to nurture a dynamic ecosystem that benefits at a larger scale, i.e., regional development and stability. Pakistan and Saudi Arabia are confident to play a critical role in the digital world.
An International Relations graduate, with a keen interest in diverse areas of IR; diplomacy, global politics & human rights.
