Pakistan's largest IT festival kicks off in Karachi, aims to attract $500m in investments

Pakistan’s largest IT and telecom festival, ITCN Asia, began on Tuesday in Karachi, showcasing over 750 local and international companies, along with foreign delegates from Saudi Arabia, the United Arab Emirates, and 15 other countries.

The three-day event, organised by the Ecommerce Gateway Pakistan (Pvt) Ltd in collaboration with the IT Ministry, is the 25th edition of this annual gathering, which aims to unite Pakistan’s tech and startup community.

The festival is set to feature investors and entrepreneurs from across the IT industry. The event, which runs from August 27 to 29, is expected to generate investments exceeding $500 million, according to a report by state broadcaster Radio Pakistan.

As the first day concluded, ITCN Asia had already attracted significant attention, with projections of over 70,000 visitors, including 350 foreign delegates from 17 countries such as Saudi Arabia, China, Singapore, Azerbaijan, Bahrain, Iran, Egypt, and the UAE.

The festival comes at a critical time as Pakistan seeks to bolster its exports, particularly in the IT sector, and draw foreign investment to reduce its dependence on external debt and stabilise its fragile $350 billion economy.

Earlier this year, State Minister for IT and Telecommunication Shaza Fatima Khawaja highlighted the government's goal of increasing IT exports to $25 billion, emphasising the need for collaborative efforts to create a digital future that is inclusive, sustainable, and secure.

Moreover, Pakistan’s Special Technology Zones Authority (STZA) recently announced the establishment of four new special technology zones, capable of housing up to 50,000 professionals and boasting an annual export potential of $350 million.