Islamabad, Aug 27: According to a social media post on Monday, Pakistan’s diplomatic mission in Saudi Arabia has announced intentions to open a co-working facility for Pakistani businesses looking to get into the lucrative market in the country.
In an effort to take advantage of the expanding markets in the area as these nations attempt to diversify their economies, Pakistani officials have been aggressively courting investment from Saudi Arabia and other Gulf nations.
There has been a surge in the number of Pakistani startups operating in industries like healthcare, banking, education, and logistics. Many of these companies have secured significant capital to advance their products and enter new markets. Co-working spaces can help Pakistani firms explore the Saudi market by lowering overhead and promoting cooperation with local companies. Co-working spaces provide shared office environments.
“We are happy to announce the launch of a Co-Working Space on Embassy premises in the Saudi Diplomatic Quarter,” the Pakistani Embassy in Saudi Arabia said in a statement announcing the co-working space’s opening on X (previously Twitter).
In addition, the embassy said that “Pakistani startups, entrepreneurs, and tech companies looking to establish a presence in the Kingdom” would be welcome to use the space, and it invited those who were interested to get in contact.
PostEx, a Pakistani startup, successfully completed a trial project in Dubai earlier this year, during which over 3,500 stores enrolled with the company. PostEx has now expanded to Saudi Arabia, offering financial and logistics services. PostEx raised $7.3 million in August to increase its market share in the Middle East. Other businesses could profit immensely from the embassy’s initiative in Saudi Arabia while they are still in the process of seeking capital to launch their goods and services on global marketplaces.
