Pakistan IT Companies Sign Multiple Deals

Mar 11, 2024
Pakistan IT Companies Sign Multiple Deals

Pakistani information technology (IT) firms have secured several strategic agreements with major companies in Saudi Arabia and beyond during the LEAP tech exhibition in Riyadh, the Pakistan Software Houses Association (P@SHA) announced on Tuesday.

The event, which is a hub for showcasing the latest in technology, artificial intelligence, and innovation, runs from March 4 to March 7 and has attracted over 1,800 exhibitors and 600 startups from around the globe.

Muhammad Zohaib Khan, the chairman of P@SHA, highlighted the significance of this year’s conference, noting that it follows a successful LEAP 2023, which generated an impressive $9 billion in IT contracts.

Pakistani companies had also notably secured leads exceeding $100 million last year. This year, over 70 Pakistani companies, including 20 startups, are participating, marking the country’s largest-ever representation in the sector internationally.

The Pakistan Pavilion, featuring 27 companies, and other Pakistani participants has drawn attention from key global IT and IT-enabled services companies, along with top government officials from the Gulf region.

P@SHA has inked its largest memorandum of understanding to date with the IT Association of Bahrain, aiming to boost business-to-business engagements.

Notable deals include Abacus Consulting’s MoU with Saudi digital solutions firm Elm and Inbox Technologies’ partnership with GISSAN of Saudi Arabia.

Additionally, the inauguration of the Pakistan Pavilion by Pakistan’s envoy to Saudi Arabia, Ahmed Farooq, saw the signing of an equity partnership between SuperNova Solutions and Saudi investors.

Farooq emphasized the strong potential for enhanced IT sector cooperation between Pakistan and the Middle East, particularly in light of Saudi Arabia’s Vision 2030, which seeks to diversify the Kingdom’s economy beyond oil.

Pakistani firms are showcasing a wide array of solutions in fields such as artificial intelligence, blockchain, cybersecurity, and more.

The strong presence of Pakistani businesses at LEAP 2024 is seen as a key step in expanding Pakistan’s IT footprint in the Middle Eastern market, especially Saudi Arabia.

The event also included the Saudi-Pak Tech Forum, aimed at fostering closer collaboration between the two nations in the IT sector.

With Pakistan’s IT industry experiencing significant growth and ranking among the country’s top five export sectors, the LEAP exhibition provides a timely platform for Pakistani companies to showcase their capabilities and explore new opportunities in the region.

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