Prince Fahad bin Mansour Al Saud says the Saudi-Pakistan Tech House will help ‘ease of doing business’
LAHORE – In another step to increase cooperation in diverse technical fields, Saudi Prince Fahad bin Mansour has announced the establishment of joint technology house with Pakistan.
Prince Fahad bin Mansour Alsaud, during a virtual address to Future Fest 2023 stakeholders, announced the establishment of a dedicated Saudi - Pakistan Tech House to promote greater ease of doing business.
The prince called it a great hallmark of Pakistan-Saudi digital collaSaudi Arabia to boost tech ties with Pakistan with first joint technology houseboration excellence.
To this end, Prince Fahad bin Mansour Alsaud also announced a further 300+ projects for the company with 100 Million project value, creating more than a 1000+ jobs in Pakistan, Saudi Arabia and globally.
“I’m deeply honored to be a part of such a respected and prestigious gathering of the IT industry with thought leaders of Pakistan at the country’s largest tech conference and expo, Future Fest 2023. My journey to Pakistan started 5 years ago to explore the possibilities of establishing an IT company in Lahore.
Let me say that the resources in Pakistan are very talented in all fields; Technical Resources, User Experience and Quality Assurance resources have been great to work with.”
He further added, “At Future Fest 2023, I am pleased a delegation of Saudi startups & venture capitalists will have a chance to meet Pakistani companies and key stakeholders to explore investments, partnerships, acquisitions, and talent recruitment.”
During his address, he highlighted the Kingdom’s Vision 2030 roadmap under the leadership of the Custodian of the Two Holy Mosques, King Salman, which has seen the booming of the technology sector along with major new smart cities like NEOM.
He emphasised how companies such as ILSA Interactive are reflective of the determination of both Pakistani and Saudi leaders to further deepen an existing strategic relationship in all fields with plans to forge partnerships with IT companies, Universities and big enterprises in Pakistan.
On announcing the establishment of the Saudi - Pakistan Tech House, Prince Fahad bin Mansour Alsaud confirmed that the House will be headquartered in Riyadh, with it’s first branch in Lahore.
Under the theme of #SaveTheFuture, Pakistan’s biggest three-day tech conference and expo titled Future Fest 2023 kicked off on Friday with historic participation from Saudi startup and investors.
Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).
In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.
On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.
UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.
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