Riyadh, 2 October 2023 (TDI): Pakistan and Saudi Arabia have signed a memorandum of understanding (MoU) to work together in information technology (IT) and other sectors, on October 1.
Pakistan Federal Minister of IT and Telecom Umar Saif met Saudi Arabia’s Minister of Communications and IT, Abdullah Al-Sawahah, to sign MoU.
Umar Saif said that this MoU will facilitate Pakistani companies to work in Saudi Arabia.
It will provide trained IT manpower to Saudi companies, promote joint ventures with Saudi companies, and establish a startup exchange program with the top Saudi tech incubators.
In addition, he added, “strategically, we will work to establish close cooperation to establish chip manufacturing industry in Pakistan and work on electric vehicles, lithium ion batteries, agriculture technology, and mining technologies.”
On September 30, the Minister and a group departed for the Kingdom of Saudi Arabia.
Federal Minister stated that the trip will lead to investments in the nation and significant business for Pakistani IT firms in Saudi Arabia.
According to Umar Saif, the Small and Medium Enterprises General Authority (Monsha’at) of Saudi Arabia would collaborate with Pakistan to assist Pakistani IT firms and startups in growing their operations in the Kingdom.
Moreover, he stated that the Gulf nations were a very alluring market for Pakistani IT businesses, many of whom were already involved in projects in the area.
“We are working to market Pakistan as a place from where a lot of technical expertise can come for projects in the GCC region,” he stated.
Digital Cooperation Organization (DCO)
Meanwhile, he also met with Digital Cooperation Organization (DCO) Secretary General Deemah AlYahya.
Saif believed that the DCO uniquely positioned Pakistani companies to expand their operations in several Gulf Cooperation Council (GCC) countries.
He said, “We’ll be working with DCO for a digital passport’ for Pakistani businesses so they can quickly establish businesses in DCO member nations, beginning with Saudi.”
Additionally, he stated that he wanted to organize the DCO’s annual summit on digital direct foreign investment in Pakistan for all of the member countries.
AlYahya said that it was a “absolute privilege” to receive the group from Pakistan.
She said that the South Asian nation was advocating the Digital FDI, with the DCO serving as a catalyst and luring investments that cross borders inside the digital economy.
“Pakistan’s role as a revered founding member state of our council fills me with immense pride,” she said.
“Our shared journey holds promise for an exciting future, and I eagerly look forward to the successes of our advocacy and teamwork.”
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The Minister continued by saying that the Pakistani team is going to discover more about the $100 million Saudi-Pakistan Tech House initiative.
It was first launched earlier this year and is intended to enhance strategic alliances between IT companies in both nations. He made this statement while he was in Saudi Arabia.
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