Agreement Signs To Launch IT Industry Academia Bridge Program

Khurram Schehzad, CEO of Alpha Beta Core, said in a statement to the media that the joint venture was a good thing for Pakistan’s IT industry.

Agreement Signs To Launch IT Industry Academia Bridge Program

Avanceon Saudi for Energy Company, a division of Avanceon Limited, has formed a joint venture with ZOMCO (Zamil Operations and Maintenance), a division of the Zamil Group, a Saudi Arabian company, in a significant development for Pakistan’s information technology (IT) sector.

The joint venture agreement will be carried out through a newly formed limited liability company called Avanceon Arabia InfoTech WLL and aims to increase the project execution footprint in the Kingdom of Saudi Arabia (KSA).

It is anticipated that this partnership will combine the companies’ respective expertise and completely transform the local IT sector.

Khurram Schehzad, CEO of Alpha Beta Core, said in a statement to the media that the joint venture was a good thing for Pakistan’s IT industry.

KSA’s economy is developing and becoming more dynamic, and it needs IT companies to help it meet the ambitious goals set forth in its $500 billion plan known as Vision 2030. The plan calls attention to the innovative and forward-thinking character of the KSA economy by including projects like Neon City.

Nasheed Malik, an ICT analyst at Topline Securities, believes that the joint venture between ZOMCO and Avanceon Saudi for Energy Company will have a significant positive impact on both businesses. In Saudi Arabia, ZOMCO is a business that specialises in managing IT operations and maintenance.

After this partnership, ZOMCO will receive hardware, management, and maintenance services from Avanceon Saudi for Energy Company, but ZOMCO will continue to be in charge of overall operation management.

Schehzad thinks it’s encouraging that Pakistani companies are focusing on the Saudi Arabian economy because it will help the domestic business sector of the nation.

The joint venture between these companies will create jobs by hiring teams in Pakistan. He asserted that this partnership is anticipated to have a positive impact on Pakistan’s economy, which has recently been experiencing difficulties given that the KSA has a sizable and developing economy.

Overall, this is a significant development that might mark the start of a new phase of cooperation and growth between Pakistan and Saudi Arabia.

Riyadh, KSA Avanceon Saudi for Energy Company, a 100% wholly owned subsidiary of Avanceon Limited, and ZOMCO (Zamil Operations and Maintenance), a fully owned subsidiary of the Zamil Group, have entered into a Joint Venture Agreement to Expand Project Execution Footprint in KSA, the company informed the Pakistan Stock Exchange (PSX).

Avanceon Arabia InfoTech WLL, a newly formed liability company, will handle the Joint Venture Agreement.

This joint venture represents an important turning point for Pakistan’s IT sector and its expanding recognition on the international scene. The collaboration between Avanceon Saudi for Energy Company and ZOMCO is anticipated to transform the Saudi IT sector and have a positive knock-on effect on Pakistan’s economy.

Pakistani IT firms have the chance to support the expansion and development of the Kingdom as KSA works to meet the challenging goals set forth in its Vision 2030 plan. This is good news for the local economy in Pakistan as well as for the surrounding area.