Pakistan dubbed Tech Destination

Experts emphasise that Pakistani authorities and Information Technology (IT) companies must aggressively pursue follow-ups on deals and collaborations made at GITEX (Gulf Information Technology Exhibition) Global this year, where Pakistan's pavilion garnered impressive global recognition, positioning the country as a strategic investment destination

They urge stakeholders to facilitate foreign investors and lead in areas such as tech training and market expansion to capitalise on this momentum.

Pakistan's IT sector is optimistic about reaping the benefits from its prominent and active participation in the Global GITEX 2024, the world's leading technology festival and fair, where it attracted business leads, joint-venture opportunities, and investment prospects.

At GITEX Global 2024, Pakistan was honoured as the "Tech Destination of the Year." The Pakistan pavilion, featuring 80 companies offering IT and IT-enabled services, held a strategic and highly visible position at the event. Many Memorandums of Understanding (MoUs) and exclusive business meetings took place between major international tech companies and Pakistani firms.

"Pakistan and its companies made significant strides in branding and perception for the first time, resulting in massive engagement and interaction with foreign companies and exhibitors at this mega event," said Muhammad Zohaib Khan, former Chairman of the Pakistan Software Houses Association (P@SHA).

Khan highlighted that Pakistani companies received dedicated support, with representatives including diplomats, ministry officials, and company delegates invited to participate in tech talks and panel discussions across various conferences.

"I forecast that Pakistan's IT companies' participation in GITEX Global 2024 will attract projects worth over $200 million. This expected foreign exchange will make a considerable impact on the national economy, including job creation," Khan added.

He said that relevant authorities, along with IT companies, should maintain aggressive follow-ups on new deals and provide facilitation for foreign companies interested in investing in Pakistan.

P@SHA's Senior Vice Chairman, Umair Nizam, noted that Pakistan's presence at GITEX this year marked a huge win, with strong global recognition and unique branding for its pavilion. This visibility, he said, resulted in multimillion-dollar deals and strategic MoUs with companies from the United Arab Emirates (UAE), Bahrain, Canada, Malta, Nigeria, and other countries.

The Ministry of Information Technology and Telecommunication (MoITT), Pakistan Software Export Board (PSEB), P@SHA, and Pakistan's Embassy in the UAE played crucial roles in this success, working together as a team to deliver a powerful Pakistani presence at the world's largest tech event. Nizam stressed that all IT sector stakeholders should actively follow up on signed deals and promote collaborations in the areas of tech training and new market expansion.

Saad Shah, CEO of Hexalyze, a Pakistani IT company exhibiting at GITEX, said, "The trade fair provided unique opportunities for Pakistani exhibitors, which was surprisingly different compared to the past. Our company experienced an unprecedented response in terms of visits, queries, and interest in our products and services. This interaction will ultimately translate into business."

"I hope the participating IT companies will turn these business leads into concrete deals with various investors and countries that visited their booths," he said.

IT sector analyst Muhammad Yasir noted that both the government and private sector made substantial investments of time and resources at GITEX, stressing that these efforts must yield dividends through improved strategy, planning, and management. He added that the government should immediately address critical issues like internet disruptions and continue implementing policies that attract export revenue and foreign direct investment for IT companies in Pakistan.

GITEX Global, an annual technology exhibition and conference, was recently held at the Dubai World Trade Centre. In its 44th edition, it hosted over 6,500 exhibitors, 1,800 startups, and 1,200 investors from 180 countries.