On Monday, Prince Fahad bin Mansour Alsaud of Saudi Arabia officially inaugurated the Saudi-Pakistan Tech House (SPTH) in Pakistan, a $100 million project aimed at creating more than 1,000 jobs in the IT sector over the next five years. The launch ceremony, hosted by the Saudi embassy in Islamabad, was attended by high-ranking officials such as Nawaf bin Said Al-Malki, Ambassador of the Kingdom of Saudi Arabia, CEOs from the IT sector, and other dignitaries.

Prince Fahad bin Mansour praised Pakistan’s IT infrastructure, talent, and start-ups and expressed his belief that forging partnerships between the private sectors of both countries could be a game-changer for the IT sector in both nations. The SPTH, which was announced at the Future Fest 2023 in January, seeks to enhance the IT sector’s relationship between Saudi Arabia and Pakistan and promote greater business in Pakistan’s information technology industry.

The SPTH will be based in Riyadh, Saudi Arabia, with its first branch in Lahore, Pakistan. The Prince noted that the project is part of Saudi Arabia’s Vision 2030, which has taken Saudi Arabia’s relations with Pakistan to new heights. He welcomed Pakistan’s entrepreneurs, small and medium-sized enterprises, and its tech venture capital ecosystem to collaborate with their Saudi counterparts and further strengthen the relationship between the two nations.

In his speech, Ambassador Nawaf bin Said Al-Malki stated that the launching of SPTH is a significant step towards strengthening Saudi-Pakistan relations in the field of Information Technology. He also expressed his belief that the private sectors of both countries will prosper as a result of this initiative. Prince Fahad bin Mansour is the President of the Saudi G20 Young Entrepreneurs Alliance and the founder of Entrepreneurship Vision, a non-governmental organization focusing on working with entrepreneurs and supporting the development of the entrepreneurial ecosystem. He also highlighted the role of Saudi Arabia’s Vision 2030 in opening the country to the world, launching platforms for future growth, and significantly improving citizens’ quality of life.

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