Representing the country’s private sector, Muhammad Zohaib Khan, Chairman of the Pakistan Software Houses Associations (P@SHA), spearheaded a delegation that showcased Pakistan as a burgeoning tech destination at the World Economic Forum 2024 held in Davos, Switzerland.
Showcasing Pakistan’s Tech Prowess at Davos
Muhammad Zohaib Khan represented Pakistan’s private sector. The Pakistan Pavilion was a focal point for renowned investors, entrepreneurs, and tech founders.
The Chairman of P@SHA delivered a compelling keynote address at the Digital Pakistan event, emphasizing Pakistan’s emergence as a significant tech player on the global stage.
The Role of the Special Investment Facilitation Council (SIFC)
Acknowledging the instrumental role of the Special Investment Facilitation Council (SIFC), Zohaib Khan credited it as a catalyst for piquing the interest of investors in Pakistan.
SIFC has been pivotal in attracting foreign investment and fostering a conducive environment for tech-related businesses to thrive in the country.
Collaboration with Multinational Companies
Dr. Umar Saif, the federal caretaker minister for information technology & telecom (MoITT), joined the IT industry’s delegation during their interactions with multinational companies.
This collaboration has borne fruit in terms of securing funding for skills development and training programs, further bolstering Pakistan’s tech ecosystem.
Special Technology Zones: A Magnet for Foreign Investment
Zohaib Khan highlighted the growing significance of Special Technology Zones (STZs) as magnets for foreign direct investment (FDI) in Pakistan’s tech sector.
STZs offer comprehensive facilitative measures to investors, including land, civic amenities, communications infrastructure, and a conducive environment for tech ventures. This all-encompassing approach has garnered substantial interest from international investors.
Pakistan’s Youthful Advantage
One of Pakistan’s standout strengths in the tech arena is its youthful population, with 65 percent of the total population being youth.
This demographic advantage positions Pakistan as a prominent tech destination with a rapidly expanding IT workforce, making it an attractive choice for tech companies looking to tap into a growing talent pool.
Thriving Tech Verticals
Several tech verticals garnered significant attention, showcasing Pakistan’s diverse tech capabilities. These included artificial intelligence (AI), gaming, space sciences startups, digital governance, FinTech, healthcare technologies, EdTech, and business process outsourcing (BPO) across unconventional industries.
Pakistan’s impressive presence at the World Economic Forum 2024 underscores its rising prominence as a global tech hub.