Info Technology
ISLAMABAD: Caretaker Information Technology Minister Dr. Umar Saif embarked on an official visit to Saudi Arabia on Saturday. His primary focus is to explore job opportunities for skilled Pakistanis within the kingdom’s IT sector.
During his visit, Umar Saif is slated to receive a comprehensive update regarding the progress of the $100 million Saudi-Pakistan Tech House project. Both sides announced the project earlier this year.
This pivotal project signifies the strengthening ties and collaborative efforts between the two nations in technology and innovation. It has the potential to foster economic growth and technological capabilities on both sides.
Saudi Arabia joins the club of countries having a trillion dollars plus GDP: Saudi-Pak info technology
Meanwhile, Saudi Arabia has achieved a significant milestone, entering the trillion-dollar club in 2023. The Gross Domestic Product (GDP) of Saudi Arabia exceeded the $1 trillion (SAR 4.155 trillion) mark this year. It surpassed the national target for 2025 well ahead of schedule.
The Saudi Press Agency announced this breakthrough today with a report by the Federation of Saudi Chambers. The announcement coincided with the celebration of the Kingdom’s 93rd National Day.
The Kingdom’s remarkable successes have made substantial contributions to enhancing key economic indicators and elevating its global economic ranking, as recognized by institutions like the International Monetary Fund (IMF). In fact, the IMF declared the Saudi economy as the fastest-growing among the Group of Twenty (G20) member states in 2022.
The report indicates that the Saudi economy achieved an impressive growth rate of 8.7%, the highest among G20 member states, primarily driven by its robust production capabilities. This is evident in the increased self-sufficiency rate of the Saudi economy, which reached 81.2%, and the rise in the investment rate (the percentage of output invested) to 27.3%.
Such outstanding performance has bolstered confidence in the national economy and the Saudi riyal.
