Key points
- Initiative designed to assist countries in developing policies
- It is a major opportunity for Pakistan’s digital sector: Minister
- The event will include high-level meetings and policy discussions
ISLAMABAD: The Federal Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja, has announced that Pakistan will host its first-ever Digital Foreign Direct Investment (FDI) event on April 29 and 30.
Speaking to ambassadors and officials from the Digital Cooperation Organisation (DCO) member states, she explained that the Digital FDI Initiative is designed to assist countries in developing policies that attract investment in the digital economy.
She extended an invitation to global investors, ambassadors, and international stakeholders to take part in the event, describing it as a major opportunity for Pakistan’s digital sector.
“This is an opportunity for the world to recognise Pakistan as a new hub for technology and innovation,” she remarked.
The event will include high-level meetings, policy discussions, and networking sessions, encouraging international cooperation in technology and digital investments.
Regional technology hub
The minister highlighted that this event represents a crucial step in positioning Pakistan as a regional technology and innovation hub. “It’s more than just an event; it demonstrates Pakistan’s readiness to engage with the global digital economy,” she added.
Shaza Fatima explained that the forum is being organised in collaboration with the DCO, led by Saudi Arabia, and is intended to showcase Pakistan’s potential for digital and IT investment.
Member states of the DCO, along with other nations, are expected to attend, making it a global platform for dialogue on digital investment.
“The objective is to establish Pakistan as a strong contender for digital foreign direct investment,” she said, emphasising the country’s young and skilled population, with more than 150 million people under the age of 35, as a key advantage for global digital businesses.
“Our expertise in cybersecurity, fintech, and emerging technologies is growing rapidly. Many of our start-ups are approaching unicorn status,” she added.
Incentives to investors
The minister stressed the government’s support for entrepreneurship and innovation, mentioning initiatives such as the National Incubation Centres and Special Technology Zones, which offer incentives to investors, including 10-year tax exemptions and unrestricted repatriation of profits.
She also highlighted the nearing completion of the new IT Park in Islamabad, which will provide cutting-edge infrastructure for technology businesses.
Fatima Khawaja acknowledged the existing challenges, including the need for improved international payment systems.
While Pakistan is the third-largest freelancing economy, she noted that it lacks efficient global payment gateways—an opportunity for foreign fintech firms.
She also revealed plans to train over 3 million people in digital skills over the next three years, with support from the Ministry of Finance and the Prime Minister, aiming to prepare Pakistani youth for global tech opportunities, according Daily Times.
The minister shared positive news regarding the country’s digital progress, noting that IT exports have risen by 27 per cent over the past seven months, internet usage has increased by 25 per cent, and Pakistan is now recognised among the leading nations in cybersecurity.
