ISLAMABAD - Prince Fahad bin Mansour bin Nasser Al Saud, a member of the Saudi royal family, is currently in Pakistan to foster increased collaboration in the technology sector between Saudi Arabia and Pakistan. During his visit to Islamabad this week, HH Prince Fahad inaugurated the Saudi-Pakistan Tech House in the capital, with the goal of facilitating increased ease of doing business between the two nations and promoting investment in the technology sector
The Prince has been a staunch supporter for more collaboration between Saudi Arabia and Pakistan in the technology industry. In recent years, he has partnered with a Pakistani technology business and observed the country’s remarkable potential firsthand. According to the Prince, Pakistan has the potential to become a worldwide hub for software development, artificial intelligence, blockchain technology, and other emerging technologies, and he is determined to assist the nation in fulfilling this potential.
During an exclusive interview with The Nation, HH Prince Fahad noted that he believes there is much room for improvement in Pakistan in terms of knowledge transfer, and that he hopes to serve as a conduit for commercial and information exchanges between Saudi Arabia and Pakistan. He is also enthusiastic about promoting the entrepreneurial sector in both nations, and he feels that there are excellent entrepreneurs in both nations who can work together.
The Saudi-Pakistan Tech House initiative, launched by the Prince in Islamabad, intends to establish 300 technology/digital initiatives worth $100 million over the next five years, resulting in the creation of new IT/technology/digital jobs.
“During the course of the next five years, we intend to complete 300 projects with a total value of $100 million,” HH Prince Fahad said. “In the previous five years, our overall value has reached $10 million. In addition, we aim to create over 1,000 jobs in the next five years.”
The effort will focus on delivering tech services to companies in Saudi Arabia and Pakistan, as well as the rest of the world, and on establishing a platform for entrepreneurs in both nations to connect.
Addressing his role as the President of the Saudi G20 Young Entrepreneurship Alliance (YEA) and how it can aid Pakistan, the Prince indicated that he believes Pakistan’s abilities and solutions can contribute value to the global economy. He also stated a desire to include additional nations in the YEA alliance, especially those with the potential to have a large economic influence.
HH Prince Fahad said there is potential to increase cooperation between Saudi Arabia and Pakistan in various industries, including agriculture and real estate. He is undertaking market research to uncover prospective investment opportunities in these sectors because he believes there are a great deal of prospects in these industries.
In terms of his key takeaway from a prior visit to Lahore, HH Prince Fahad described the city as Pakistan’s Silicon Valley. “I had the opportunity to tour institutions and organisations operating in the technological industry. And I had the impression that Lahore is Pakistan’s Silicon Valley.”
The Prince said that he is looking to expand into other regions of Pakistan, because he has noticed a lot of technological firms in Islamabad. Prince Fahad believes that creating more job opportunities for Pakistanis is just the beginning, and that the world has a huge need for technologies, services, manpower, and women’s power. He believes that the demand will help to increase this number to 10x or even more.
In his concluding remarks, HH Prince Fahad reaffirmed his commitment to investing in the technology industry in Pakistan and to supporting the Saudi Vision 2030 — under the leadership of King Salman bin Abdulaziz Al Saud and the Crown Prince Mohammed bin Salman Al Saud — which he believes has a good impact on the global community. He emphasised his pride in being a part of this vision and his desire to include others in its realisation.
“We are really proud and happy that we are realising this vision and we we would love to see the whole world adapting to what has been going on in Saudi Arabia and I think that everybody from the world is actually inspired by this vision. So, we are proud and we would love to also have the world adapt to what we’re doing and work with us to make this vision a reality for us and others.”
Prince Fahad remarked that he was captivated by the breathtaking view of the capital from the Margalla Hills. He hopes to view the city at sunset and at night on his next visit.
