Wednesday, April 24, 2024

Pakistan IT Companies Sign Multiple Deals with Leading Firms in Saudi Arabia

During the LEAP tech exhibition in Riyadh, Pakistani IT companies have been making important agreements with big companies in Saudi Arabia and other places. This event, which showcases the latest technology and innovations, is happening from March 4 to March 7. More than 1,800 exhibitors and 600 startups from around the world are participating.

Muhammad Zohaib Khan, the chairman of P@SHA, said that this year’s conference is very significant. Last year’s LEAP 2023 was successful, with Pakistani companies securing $9 billion in IT contracts. Pakistani companies received leads worth over $100 million last year, and this year, 70 Pakistani companies, including 20 startups, are participating, which is the highest number ever for Pakistan in this sector internationally.

The Pakistan Pavilion features 27 companies, and other Pakistani participants are attracting attention from important global IT companies and government officials from the Gulf region. P@SHA has made its biggest agreement ever with the IT association of Bahrain to increase business engagements. Some significant deals include Abacus Consulting’s agreement with Saudi digital solutions company Elm, and Inbox Technologies’ partnership with GISSAN of Saudi Arabia.

Pakistan’s envoy to Saudi Arabia, Ahmed Farooq, inaugurated the Pakistan Pavilion, where SuperNova Solutions signed an equity partnership with Saudi investors. Farooq mentioned that there is immense potential for enhanced cooperation between Pakistan and the Middle East in the IT sector, particularly due to Saudi Arabia’s Vision 2030, which aims to diversify its economy. Pakistani companies are showcasing solutions in artificial intelligence, blockchain, cybersecurity, and more.

The strong presence of Pakistani businesses at LEAP 2024 is crucial for expanding Pakistan’s IT influence in the Middle East, particularly in Saudi Arabia. The event also hosted the Saudi-Pak Tech Forum to foster closer ties between Pakistan and Saudi Arabia in the IT sector.

With Pakistan’s IT industry witnessing significant growth and ranking among the top five export sectors, the LEAP exhibition provides Pakistani companies with a great opportunity to demonstrate their capabilities and explore new prospects in the region.

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