Saudi Arabia’s Prince Fahad bin Mansour Al Saud has announced to set up of a technology house in Pakistan to enhance cooperation between the two countries in diverse technical fields, the Future Fest management said.
Prince Fahad Bin Mansour Al Saud is also the Co-Founder Partner at ILSA Interactive and announced that ILSA Interactive is looking forward to creating more than 1000+ jobs in Pakistan, Saudi Arabia, and Globally. expecting to have more than 300+ Projects with a minimum Total Project Value of $100 million dollars For the next 5 Years.
The festival management in an official statement said:
“HRH [His Royal Highness] Prince Fahad bin Mansour Al Saud, during a virtual address to Future Fest stakeholders, announced the establishment of a dedicated Saudi-Pakistan Tech House to promote greater ease of doing business,”
The announcement was made at the Future Fest 2023 is a three-day event, which began on January 6, and has brought together 50,000 participants along with representatives of 500 startups and 200 exhibitors from over 30 countries.
This year’s conference is particularly important for Saudi-Pakistan relations since it has brought a bunch of business leaders and entrepreneurs from the kingdom and other Middle East countries.
The Saudi prince is a co-founder of tech giant ILSA Interactive, which was first founded in 2009 by Pakistani entrepreneur Salman Nasir. “It stands as a great hallmark of Pakistan-Saudi digital collaboration excellence,” the statement said.
Prince Fahad bin Mansour Al Saud during the conference said:
“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, Prince Fahad bin Mansour Alsaud 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 emphasized 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.
The Prince said that The strategy is expected to set Saudi Arabia’s Artificial Intelligence AI market to touch $135 billion by 2030, which is estimated to contribute %12.4 percent to the Kingdom’s (GDP). The Kingdom of Saudi Arabia maintains a robust and Secure digital infrastructure, accelerating digital transformation and Cyber Security to ensure sustainable Communication platforms.
This structure has enabled the Kingdom to face public and private sector disruptive crises, ensuring business continuity, educational operations, citizen requirements, and daily resident lives. The Kingdom has been ranked among the top ten developed countries globally for its robust digital framework.