Future Fest 2023: Saudi Arabia announces to open first joint technology house in Pakistan

Prince Fahad bin Mansour Al Saud says the Saudi-Pakistan Tech House will help ‘ease of doing business’

03:17 PM | 7 Jan, 2023
Future Fest 2023: Saudi Arabia announces to open first joint technology house in Pakistan

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.

Daily Pakistan Global Web Desk


Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

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.

Today’s currency exchange rates in Pakistan - 20 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08


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