Pakistan’s diplomatic mission in Saudi Arabia has decided to set up a co-working space for Pakistani startups interested in entering the kingdom’s lucrative market, according to its social media post on Monday.
Pakistani authorities have sought investment from Saudi Arabia and other Gulf countries, aiming to benefit from the burgeoning markets in the region as these states diversify their economies.
Pakistani startups, operating in sectors like health care, finance, education and logistics, have seen a rise in activity, with many receiving substantial funding to develop products and expand into new markets.
Co-working spaces, which provide shared office environments, can help Pakistani startups explore the Saudi market by reducing overhead costs and foster collaboration with local businesses.
“[The Pakistan Embassy in Saudi Arabia] is happy to announce launch of Co-Working Space on Embassy premises in [the Saudi Diplomatic Quarter],” the embassy said on X, formerly Twitter.
It added the space will be given to “Pakistani startups, entrepreneurs and tech companies looking to set up business in the Kingdom” while asking them to get in touch.
A Pakistani startup, PostEx, launched financial and logistics services in Saudi Arabia this week after a successful pilot project in Dubai, where more than 3,500 stores registered with it earlier this year.
PostEx raised $7.3 million in August to expand its footprint in the Middle Eastern market.
However, other startups are still working to raise funds to unveil their products and services in overseas markets and could benefit from the embassy’s initiative in Saudi Arabia.
