Path to Prosperity: Saudi Investor Eyes Opportunities in Pakistan’s IT Sector
Pakistan’s Information technology (IT) sector has a lot of potential and it was recently pointed out by the CEO of a Saudi company. The CEO of the Saudi Arabia-based Gissan Company LLC said that private IT companies in KSA were keenly interested in developing partnerships and investing in Pakistan’s IT sector, specifically in system integration and the Internet of Things (IoT).
Furthermore, the CEO Dr. Fahd A. Al-Damer while talking to a media outlet said,
We are interested in investing in IT, system integration, and IoT initially, and for this we have already signed an MoU with a Pakistani company called Inbox and have explored some opportunities together in Saudi Arabia.
Gissan is famous for providing an array of defense and security solutions and services to its clients via its international partners. Moreover, the company has operated in numerous sectors, and the solutions along with the services that the company offers include the use of IT, satellite technology, and space imaging.
“We are ready to invest in the research and development of IT-related solutions with our partner,” he said. “We believe we can do more than just investing as we are interested in establishing a strategic partnership where we can share opportunities for both parties.”
Al-Damer further added that KSA’s Vision 2030 contained a range of mega-projects that will allow the two brotherly countries to take advantage of the opportunities. “Similarly, our networking efforts in the region will allow us to do business beyond just investing in Pakistan,” he said. “We have a history of friendship and partnerships, especially in the defense business and we acknowledge the expertise of the Pakistani people in various sectors like aerospace, medicine, and IT,” he said.
This development came after Pakistan’s prominent IT and telecom companies, along with startups in areas like AI, blockchain, and robotics, participated in the LEAP tech conference in KSA. These companies received a great response.
During the event, Inbox Business Technologies and Gissan joined hands through an MoU for cybersecurity, AI, and robotics collaboration. Pakistan’s goal is to attract $20 billion in investment in its IT sector from Gulf states over the next five years, as mentioned by Prime Minister Shehbaz Sharif during a seminar organized by the Special Investment Facilitation Council.
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