CALIFORNIA: The Pakistan-US Tech Investment Conference, held in California, has resulted in more than $20 million in initial commitments from US-based companies, led by Pakistani-American entrepreneurs, marking a major milestone for Pakistan’s IT industry.
The event was heralded as a “pivotal moment” in the country’s efforts to strengthen its IT industry, as reported by Associated Press of Pakistan (APP).
Inaugurated by Pakistan’s Ambassador to the U.S., Rizwan Saeed Sheikh, the conference was organized by the Pakistani Consulate in Los Angeles and supported by several key government bodies, including Pakistan’s Ministry of IT & Telecom, Ministry of Commerce, Trade Development Authority of Pakistan (TDAP), and the Pakistan Software Export Board (PSEB).
Ambassador Sheikh encouraged American businesses to explore Pakistan’s vibrant market and called on the Pakistani-American tech community to serve as a bridge for deeper economic ties between the two nations.
Ambassador Rizwan Saeed Sheikh inaugurated the Pakistan-U.S. Tech Investment Conference, marking a pivotal moment for Pakistan's IT sector with an initial commitment of over $20 million by American companies led by Pakistani-American entrepreneurs.
The event, led and organized… pic.twitter.com/84UFwKXDSC
— Pakistan Embassy US (@PakinUSA) November 11, 2024
During her keynote address, Shaza Fatima Khawaja, Pakistan’s IT Minister, emphasized the government’s dedication to promoting the industry’s expansion and hitting an ambitious $25 billion export target.
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She highlighted the government’s commitment to creating an atmosphere that is welcoming to investors and noted that Pakistan’s IT exports had already topped $3 billion. She further added that the IT industry was booming and expected to continue growing.
A wide range of people attended the event, including venture capitalists, IT companies, tech professionals, and prominent members of the Pakistani diaspora.
The conference showcased a range of projects from industries such as artificial intelligence (AI), fintech, health tech, e-commerce, and software development, all aimed to improve Pakistan’s integration into the global tech industry, generate employment, and attract foreign investment.
Despite the advancements, Pakistan’s IT exports still face challenges, mostly due to issues with Internet connectivity, which stem from the deployment of firewalls to regulate content and social media.
These technological obstacles often hinder communication with clients abroad, which results in missed business opportunities, delayed delivery, and a tarnished reputation for Pakistan’s IT sector. This ultimately slows down the sector’s capacity for growth and causes significant financial losses.
