Pakistan, KSA to boost digital, AI collaboration

State minister seeks to foster fintech and digital investment opportunities for startups

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ISLAMABAD:

Pakistan and Saudi Arabia have agreed to strengthen digital investment and technology partnerships, aiming to facilitate Pakistani startups and small and medium enterprises (SMEs) in accessing the Saudi market.

The understanding was reached during a meeting between Pakistan's Minister of State for Information Technology, Shaza Fatima Khawaja, and Saudi Deputy Investment Minister, Ibrahim Almubarak, on the sidelines of LEAP 2025, said a statement.

The LEAP 2025 being held in Saudia Arabia Riyadh from February 9 to 12 witnessed a large gathering of Pakistani and Saudi business leaders, government officials, and technology experts.

Discussions between Pakistan and Saudi Arabia focused on fostering business-to-business (B2B) collaborations, particularly in artificial intelligence (AI), cloud computing, and fintech sectors.

Shaza Fatima reaffirmed Pakistan's commitment to developing an investor-friendly digital ecosystem to attract global stakeholders.

Saudi Arabia, in turn, expressed confidence in Pakistan's skilled workforce and technological advancements, highlighting the potential for cross-border venture capital investments to create global opportunities for Pakistani startups.

The two sides also explored ways to simplify licensing and registration processes for Pakistani companies entering the Saudi market.

Both leaders agreed to enhance joint research and development (R&D) initiatives and digitize the degree attestation process for Pakistani professionals seeking opportunities in Saudi Arabia.

Shaza Fatima said that strong digital economic cooperation between Pakistan and Saudi Arabia would play a crucial role in driving regional growth and innovation.

She stressed the need for ethical AI governance, data security, and digital inclusivity.

The panel, titled "Shaping the Future of Ethical AI: Multilateral Perspectives on Governance and Risk Management," was hosted by Deemah Al Yahya, Secretary General of the Digital Cooperation Organization (DCO), and gathered global leaders to discuss responsible AI implementation.

During the discussion, Shaza Fatima highlighted the transformative impact of AI, urging multilateral cooperation and strong regulatory frameworks to ensure AI benefits all segments of society.

She stressed the importance of data privacy, security, and fairness in AI systems, calling for global collaboration to establish responsible AI governance models that prevent discrimination and ensure equal access to digital opportunities.