German firms urged to invest in IT sector

Minister says current environment conducive for investment


APP February 04, 2021
By investing in the IT sector, local companies have the potential to grow and compete with global giants in any sector. PHOTO: REUTERS

ISLAMABAD:

German IT and telecom companies should invest in Pakistan as the current environment is ideal for investors, said Federal Minister for IT and Telecommunication Syed Aminul Haque.

During a meeting with German Ambassador to Pakistan Bernhard Schlagheck on Wednesday, Haque urged German firms to venture into Pakistan’s tech sector.

The two sides agreed to enhance cooperation in the IT and telecommunication sector. The minister said Pakistan greatly valued its relations with Germany and wanted to enhance cooperation between the two countries.

He said that steps were under way for achieving the Digital Pakistan Vision, adding that the ministry was taking strong initiatives for the development of IT and telecom sector, which had a lot of potential.

The minister informed the ambassador that information and communication technology (ICT) exports of Pakistan surged to $958 million at a growth rate of 40% during the July-December period of FY2020-21 in comparison to the same period of last financial year.

On a separate occasion, Haque held a virtual meeting with International Telecommunication Union (ITU)-BDT Director Doreen Bogdan-Martin.

During the meeting, both sides discussed connectivity and telecommunication services. The minister shared that they were fully committed to ending the digital divide between urban and rural areas of the country.

“Steps are being taken through the Universal Service Fund (USF) for the provision of broadband services in unserved and underserved areas of the country.” He added that the IT ministry fully supported ITU’s proposed initiatives like Giga and Smart Villages in Pakistan.

Published in The Express Tribune, February 4th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read