Islamabad: The Pak-Saudi Business Forum, a significant event aimed at enhancing bilateral economic ties, convened in Islamabad on Thursday, marking a notable step towards deepening the partnership between Pakistan and Saudi Arabia. The forum, which focused on fostering B2B partnerships particularly in the IT sector, was attended by prominent figures including Saudi Minister of Investment Khalid bin Abdulaziz Al-Falih.
According to Press Information Department, Minister Al-Falih led a large delegation of 135 members to Islamabad, setting the stage for business agreements anticipated to reach a value of $2 billion. The Special Investment Facilitation Council (SIFC) orchestrated the forum, which provided an essential platform for businesses from both nations to engage in direct dialogue and explore investment opportunities.
The IT sector briefing, a key component of the forum’s agenda, was co-chaired by Pakistan’s Minister of State for IT and Telecom, Ms. Shaza Fatima Khawaja, and Mr. Fahad Abdulrahman Alshabanah, General Manager of Information Communications and Technology at the Saudi Ministry of Investment. Mr. Zarrar Hasham, Secretary of IT and Telecom, detailed Pakistan’s IT landscape, emphasizing the country’s emerging status as a significant player in global technology markets and highlighting areas ripe for Saudi investment.
Discussion during the forum revealed a mutual interest in expanding IT collaboration, with Saudi representatives expressing particular enthusiasm for Pakistan’s advancements in information technology. The B2B session facilitated by the forum underscored potential partnerships in digital transformation, software development, and emerging technologies, with several investment proposals currently being negotiated.
This year’s business forum not only solidifies the ongoing economic relationship between Pakistan and Saudi Arabia but also underscores a shared commitment to fostering innovation and growth in critical sectors such as IT and telecommunications. The anticipated business agreements are expected to significantly contribute to both nations’ technological and economic landscapes.