Pakistan’s significant representation at LEAP 2024 in Riyadh highlights the possibility for even closer connections between Pakistan and Saudi Arabia in the technology industry in the future.
This premier technology event brings together some of the world’s finest minds, providing a dynamic forum for tech entrepreneurs, industry leaders, and experts to cooperate, explore breakthroughs, build collaborations, and network with prominent mentors and investors.
Revenue more than $9 billion
LEAP generated more than $9 billion in revenue last year, attracting over 172,000 people, including global IT executives, IT professionals, presenters, tech gurus, and investors, cementing its position as the world’s fastest-growing innovation event.
74 firms and over 800 delegates
The Pakistan contingent is one of the largest at this year’s LEAP, with a 162sqm pavilion containing 74 firms and over 800 delegates, indicating a strong Pakistani corporate presence with excellent opportunities in the Saudi market.
These firms present solutions in AI, IoT, blockchain, cybersecurity, cloud computing, health technology, finance, online and mobile app development, open source, e-commerce, data services, and other areas.
PSEB and P@SHA, in partnership with the Pakistan Embassy in Riyadh and other stakeholders, organised the “Saudi-Pak Tech Forum” on March 3, 2024, to set the tone for LEAP. Deemah Alyahya, Secretary General DCO, was the event’s Chief Guest.
A large number of prominent Saudi government and private institutions attended the forum, which provided an excellent opportunity for Pakistani companies to network with Saudi counterparts, the IT industry, government institutions, and IT associations in advance of LEAP, generating an additional pool of prospects and valuable business leads.
CEO PSEB
Speaking at the event, CEO PSEB Aisha Moriani emphasised the importance of collaboration between the two countries and building on Pakistani firms’ success at LEAP 2023.
The recent surge in IT exports to Saudi Arabia. Pakistan sees this as an excellent opportunity to promote its IT/ITeS enterprises on a global trade platform and increase business in the Middle East market, notably in Saudi Arabia, which is undergoing transformation under Vision 2030.
Vision 2030
Saudi Arabia, with the largest economy in the Middle East and a rating in the top twenty globally, has a substantial presence in the technology industry. Pakistan’s IT industry has expanded dramatically, ranking among the country’s top five export sectors.
The industry benefits from a strong infrastructure, which includes 40+ Software Technology Parks and Special Technology Zones, and exports IT services to over 170 countries across multiple domains.
The government aggressively supports the IT industry through the Pakistan Software Export Board (PSEB), which provides international investors with 100% equity ownership, capital and dividend repatriation, and income tax benefits for IT exports.
4th largest English-speaking country
Pakistan’s location as the fourth largest English-speaking country and the second largest provider of online labour in software development makes it an appealing Tech destination.
Gateway to Central Asia
Pakistan’s strategic location as a gateway to Central Asia makes it an ideal choice for constructing a digital corridor that connects Middle Eastern, African, and Asian governments.
With a remarkable network of 6-8 marine cables enabling modern connection, along with a favourable time zone advantage, Pakistan improves operating efficiency by having approximately identical time differences to both London and Sydney.
Pakistan offers numerous chances, with roughly 75,000 IT graduates each year and a qualified workforce ready to contribute to the digital economy.
Professionals in accountancy, legal, design, and marketing supplement the workforce by providing offshore services.
Furthermore, Pakistan’s capacity to deliver high-quality services at competitive pricing, with a staggering 70% reduction in operational expenses when compared to North America, has won it the distinction of the most financially desirable country for outsourcing, according to Kearney’s worldwide 2023 study.
To read our blog on “Pakistani IT team excels at Qatar 2024 web summit,” click here
