Foreign IT investors look for policy consistency

Tech expert calls on Pakistan to pass laws on long-term policies

ISLAMABAD:

Pakistan is a country where policies change with every new government which creates an uncertain situation for foreign investors, who want legislation that ensures consistent policies, particularly in the information technology sector.

They have pressed Pakistan to pass laws to put in place a long-term policy that allows IT firms to thrive regardless of the change at the helm.

Talking exclusively to The Express Tribune at an event, Vice Chairman Asia and Pacific ICT Alliances (APICTA) pointed out that a major concern had been the change in government that posed challenges to investors.

“One of the things industry needs to thrive is the consistency of policies,” he said and called for adopting a law that would ensure consistent policies for the companies investing and establishing their presence in Pakistan.

“If a new government comes in, there should be no change in policies, as other countries do, such as India and Vietnam,” he stressed while citing an example of regional nations.

Inserra was of the view that Pakistan should be a safe country to do business and suggested measures that the country should take to stimulate investment in startups and IT.

First step is to position the country as a safe haven, not in terms of the economy, but in terms of what they are doing to support funds and start-up organisations, as well as to encourage overseas companies and professionals to set up offices here, not to attract investment, but to increase their presence.

“You have 60% of the population under the age of 25; this is incredible and has the potential to benefit millions of people. You have youth, talent and knowledge, are willing to invest and are attempting to change perceptions,” he remarked.

“You need to increase business like the economies of Singapore, Thailand and Australia. Pakistan is an economy and perceptions must change.”

Inserra called on Pakistan to encourage local companies to form partnerships with their overseas counterparts and also underlined the need for developing programmes for the tech companies that were generating revenues.

He was of the view that the government should reward local companies to encourage those performing better as they could change the perception. “It is just a perception that Indian companies are more advanced than Pakistani firms. Innovation and knowledge in Pakistan are not different to what is found in India,” he said.

Published in The Express Tribune, December 11^th, 2022.

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