Digital Innovation
Pakistan and Saudi Arabia have signed a memorandum of understanding (MoU) to collaborate in the field of information technology, as reported by PTV News.
The state broadcaster announced on X, formerly Twitter, that both nations had also agreed to promote the private sector in addition to government-level cooperation. The MoU encompasses a bilateral agreement concerning the digital economy.
Caretaker Federal Minister of IT and Telecom Umar Saif and Saudi Arabia’s Minister of Communications and Information Technology Abdullah A Al-Sawahah signed the agreement in Riyadh.
Saudi Arabia’s Ministry of Communications and IT also shared the update on X, emphasizing that the agreement aimed to bolster the growth of the digital economy and enhance the partnership between the two countries.
Moreover, they signed the memorandum to accelerate digital innovation, empower entrepreneurs, and develop the digital infrastructure. The ministry hailed this development as an important step to foster innovation and boost growth prospects in both nations.
Saif outlined the DCO’s role in assisting Pakistani companies in expanding their operations across Gulf Cooperation Council countries. Also, he announced plans to collaborate with the DCO on a “digital passport” for Pakistani companies, facilitating quick business establishment in DCO member countries, starting with Saudi Arabia.
In response, AlYahya welcomed the Pakistani delegation, describing Pakistan as a respected founding member state of the council. She highlighted Pakistan’s leadership in championing Digital Foreign Direct Investment (FDI), with the DCO serving as a catalyst for attracting cross-border investments within the digital economy.
The interim government of Pakistan has embarked on a mission to equip up to 200,000 young individuals with information technology skills, tapping into the billion-dollar IT sector, which currently generates $2.6 billion in exports but possesses the potential for $10 billion.
