Pakistan’s diplomatic mission in Saudi Arabia has announced plans to establish a co-working space for Pakistani startups interested in tapping into the kingdom’s lucrative market, according to a social media post on Monday.
Pakistani authorities have been actively seeking investment from Saudi Arabia and other Gulf countries, aiming to capitalize on the region’s growing markets as these states work to diversify their economies.
Pakistani startups in sectors such as healthcare, finance, education, and logistics have experienced increased activity, with many securing substantial funding to develop their products and expand into new markets.
Co-working spaces, which offer shared office environments, can assist Pakistani startups in exploring the Saudi market by reducing overhead costs and encouraging collaboration with local businesses.
The Pakistan Embassy in Saudi Arabia announced the launch of the co-working space on X (formerly Twitter), stating, “We are happy to announce the launch of a Co-Working Space on Embassy premises in the Saudi Diplomatic Quarter.”
The embassy added that the space would be available to “Pakistani startups, entrepreneurs, and tech companies looking to establish a presence in the Kingdom” and invited interested parties to get in touch.
A Pakistani startup, PostEx, recently launched financial and logistics services in Saudi Arabia following a successful pilot project in Dubai, where over 3,500 stores registered with the company earlier this year. In August, PostEx raised $7.3 million to expand its presence in the Middle Eastern market.
Meanwhile, other startups are still in the process of raising funds to introduce their products and services to international markets and could greatly benefit from the embassy’s initiative in Saudi Arabia.