LEAP 2024 Highlights Pakistan’s IT Sector in Riyadh
Pakistan’s significant representation at LEAP 2024 in Riyadh highlights the potential for deeper ties between Pakistan and Saudi Arabia in the technology sector. LEAP, a premier tech event, serves as a vibrant platform for tech innovators, industry leaders, and experts to collaborate, explore innovations, establish partnerships, and engage with influential mentors and investors.
Last year, LEAP generated over $9 billion in business, attracting more than 172,000 individuals, including global tech leaders, IT professionals, speakers, and investors, solidifying its position as the fastest-growing tech event globally. This year, Pakistan boasts one of the largest contingents at LEAP, with a pavilion spanning 162 square meters, featuring 74 companies and over 800 delegates. These Pakistani firms are showcasing solutions across various domains such as AI, IoT, blockchain, cybersecurity, health tech, fintech, e-commerce, and more.
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The Pakistan Software Export Board (PSEB) and Pakistan Software Houses Association (P@SHA), in collaboration with the Pakistan Embassy in Riyadh and other stakeholders, organized the “Saudi-Pak Tech Forum” on March 3, 2024, setting the stage for LEAP. The forum was attended by prominent Saudi government and private institutions, providing Pakistani companies with an excellent opportunity to network and establish connections ahead of LEAP. Aisha Moriani, CEO of PSEB, emphasized the importance of collaboration between both nations to build upon the success of Pakistani companies at LEAP 2023.
Pakistan sees the increasing IT exports to KSA as a timely opportunity to showcase its IT/ITeS companies on the international trade platform and expand its business in the Middle East market, particularly in Saudi Arabia, which is undergoing transformation with its Vision 2030. With its remarkable growth, Pakistan’s IT industry ranks among the country’s top five export sectors.
The government actively supports the IT industry through incentives such as 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits for IT exports to foreign investors. Pakistan’s strategic location as a gateway to Central Asia, coupled with its advanced connectivity and favorable time zone advantage, positions it as an optimal choice for establishing a digital corridor.
Pakistan’s abundant opportunities, skilled workforce, competitive costs, and favorable business environment make it an attractive destination for IT products, solutions, and services. The government’s efforts to brand Pakistan as a lucrative TechdestiNation have expanded the horizons for Pakistani IT companies to tap into global markets.
With a strong presence at LEAP 2024, Pakistan demonstrates its readiness to engage with the world and welcomes collaboration with Saudi Arabia to foster technological advancements and mutual prosperity.
