Minister of State for IT and Telecommunication Shaza Fatima Khawaja on Tuesday said that the all-weather strategic cooperative partnership between Pakistan and China had opened doors to unparalleled opportunities in the information technology sector.
“The China-Pakistan Economic Corridor (CPEC) serves as a cornerstone of bilateral cooperation between Pakistan and China, offering a multitude of opportunities for joint ventures and technology-driven initiatives,” she said while addressing the opening ceremony of the Global Digital Economy Conference (GDEC) 2024.
“The integration of digital technologies into CPEC projects holds the promise of unlocking new avenues for economic growth, job creation and sustainable development.”
Be it artificial intelligence, cybersecurity, e-commerce or digital infrastructure, she said, there existed immense potential for joint ventures, knowledge exchange, networking opportunities and skill development.
She pointed out that the vast potential of China’s IT market presented a significant opportunity to foreign companies, including those from Pakistan, to expand their business and boost exports.
“The partnership between Pakistan and China has continued to flourish, reflecting a long-standing tradition of collaboration and mutual growth. This partnership takes a significant step forward as the two sides convene to explore the vast potential in the IT sector,” she remarked. The global landscape has witnessed a digital revolution in recent years, which positions the IT sector as a cornerstone of economic development, innovation and social transformation.
“Pakistan’s IT sector has emerged as a powerful catalyst for economic growth. According to the Kearney’s Global Services Location Index in 2022, Pakistan is the most attractive destination for outsourcing. With around 20,000 registered IT and IT-enabled services companies exporting to over 170 countries, the sector’s growth has remained robust,” she added.
It may be noted that 20 top IT companies of Pakistan is participating in the GDEC 2024 and are expected to sign MoUs to enhance cooperation in IT between China and Pakistan.
The minister emphasised that the success could be attributed to several key factors as Pakistan was producing approximately 75,000 IT graduates annually and had a skilled and dynamic workforce that met global standards.
Also, the country offers offshore services with a 70% reduction in operational costs compared to the western destinations. The government’s support, through the Pakistan Software Export Board, includes 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits to foreign investors for IT exports.
1719053250-0/BeFunky-collage-(5)1719053250-0-270x192.webp "electric shock for millions as tariffs soar")
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ