The Consulate General organized a seminar on “Prospects for Cooperation in Development of Technology & Innovation Sectors in Pakistan”, which was attended by senior tech executives, investors & professionals. The Seminar included presentations, a panel discussion and Q&A session.
Speaking on the occasion, the Consul General emphasized Pakistan’s significance as an important business, investment and tech destination. He highlighted various factors that makes Pakistan an ideal place for investment including: Pakistan’s geo-strategic location at the confluence of South, West and Central Asia with its quality connectivity infrastructure; its market size, strong middle class, youth bulge and presence of large pool of trained professionals and workforce proficient in English; shifting of Pakistan’s focus from geo-politics to geo-economics; liberalization of investment regime and Ease of Doing Business in Pakistan, and; rapid emergence of Pakistan’s technology ecosystem on the international stage with its thriving start-ups and growing IT exports. Outlining various government’s initiatives, including incentives for venture capitalists, and reforms introduced by SBP and SECP, the Consul General stated that the government will continue to create hospitable environment for tech and innovation sectors in Pakistan. He encouraged the business executives, tech entrepreneurs and technology experts to benefit from the opportunities offered by the tech and innovation sector in Pakistan.
Mr. Javaid Iqbal, Chief Commercial Officer of the Special Technology Zones Authority (STZA), Government of Pakistan, in his presentation said that STZA was providing legislative and institutional support for the development of Pakistan’s technology sector, through an ecosystem approach, by offering world-class physical & digital infrastructure and framework. He highlighted that Pakistan provided lucrative environment for cooperation & development in the tech and innovation sectors as it had a large educated youth bulge, skilled workforce, availability of connectivity infrastructure, innovative networks and regulatory support, which are of paramount importance for these sectors to flourish. The industry has a wide range of opportunities including SMEs, startups, tech corporations, venture capital firms and high-tech production. The foreign investors were allowed to fully repatriate their investments, profits and dividends and all legitimate payments abroad were allowed without any limitation.
The event provided a platform to brief and encourage potential investors and venture capitalists. The participants expressed keen interest in investment opportunities in Pakistan’s IT & tech sector.
Chicago IL
July 14, 2022
