Lauding the remarkable contributions made by China in the field of industrialisation, Planning Minister Ahsan Iqbal has said that developing nations could draw several lessons from the country’s experience with digital-era connectivity and economic growth.
He made these remarks while speaking at the panel discussion titled “Industrialisation and Digital Era Connectivity,” organised on Monday by the China International Development Cooperation Agency in Beijing.
The minister is on a four-day official visit to China to attend a special commemorative 12th Joint Cooperation Committee (JCC) to be held on July 11 (today) to mark the 10-year celebrations of China Pakistan Economic Corridor (CPEC).
The flagship connectivity and investment corridor project, part of Beijing’s Belt and Road Initiative, has ushered into a significant milestone as it celebrates a decade of remarkable achievements in fostering economic growth, infrastructure development, and regional connectivity.
In his remarks, the minister noted that China has undergone remarkable economic growth and technological advancements, making it a valuable example for developing countries.
“China's industrialisation journey was supported by substantial investment in infrastructure, including transportation networks, energy systems and telecommunications. Pakistan is greatly benefiting from infrastructure development under CPEC to improve its connectivity within the country and facilitate industrial growth,” he added.
Shedding light on the importance of the digital economy, he termed it a vital element for the sustainable development of the country.
While underscoring the importance of industrialisation and digital-era connectivity, Iqbal said that industrialisation and digital-era connectivity have transformed the world as both have brought unprecedented opportunities for progress, economic growth, and global connectivity.
However, he stressed the harmonisation of digital policies and standards by stronger collaboration through multilateral forums.
The minister also said that digital connectivity has revolutionised communication and collaboration in industrial sectors.
The digital era has generated massive amounts of data through various sources, including production processes, customer interactions and market trends, the minister said, who recently established a steering committee comprising experts from IT and the private sector for the implementation of digital transformation and to increase digital exports in the country.
Similarly, he said that the combination of industrialisation and digital connectivity has opened up new avenues for innovation and entrepreneurship. The startups and small businesses can leverage digital platforms and technologies to reach global markets and disrupt traditional industries, remarked the minister.
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