Pakistan IT sector attracts $500Mn investment pledges at tech expo
LAHORE, PAKISTAN — Pakistan’s information technology (IT) sector recently secured $500 million in investment pledges during the 24th edition of ITCN Asia.
The event has been a cornerstone for business deals within the local and international IT, telecom, and allied sectors.
Over 600 companies participated in the three-day expo, engaging in thought-provoking discussions and networking opportunities across various summits and sessions.
Lahore event paves way for Pakistan’s technological growth
Muhammad Umair Nizam, Vice President and Event Director of Ecommerce Gateway Pakistan, expressed optimism about the expo’s impact on the country’s technological ecosystem.
“The biggest tech show will soon achieve various goals for the IT and telecom sectors, including investment inflows in Pakistan, growth in export receipts, strengthening of startup culture, and the emergence of AI in the country,” Nizam stated.
ITCN Asia is renowned for providing a comprehensive platform that showcases solutions across multiple sectors, including government, cybersecurity, education, and healthcare.
The event’s focus on networking, knowledge sharing, and lead generation is complemented by conferences designed to foster a learning environment for tech enthusiasts.
Pakistani government’s vision for IT empowerment
State Minister for Information Technology and Telecommunication Shaza Fatima Khawaja highlighted the event’s role in promoting Pakistan’s IT expertise on an international stage.
“Sixty-eight percent of Pakistan’s population consists of young people, and IT is a field that has a lot of opportunities available for them,” she said during an interview with Radio Pakistan.
Khawaja outlined the government’s commitment to skill training in the IT sector and mentioned initiatives like providing cheap loans to freelancers and the Industry-Academia Bridge Program, which allows IT students to gain practical experience in collaboration with the private sector.
Pakistan’s digital progress recognized
On the opening day, Khawaja emphasized Pakistan’s position as a founding partner of the Digital Cooperation Organization and its readiness to be a leading stakeholder in the global IT ecosystem.
“Pakistan’s digital progress and its position as a global stakeholder is underscored by its vibrant youth as Pakistan produces 10,000 IT graduates every year,” she stated.
Earlier this year, Prime Minister Anwaar-ul-Haq Kakar instructed officials to formulate plans to bring international IT talent to Pakistan to aid the “development and promotion of IT.”
International participation and support
The expo attracted a delegation of international investors from 12 different countries, with renowned companies like Microsoft, Lenovo, and Dell showcasing their technologies.
The event received joint support from various Pakistani governmental bodies, including the Ministry of Information Technology and Telecommunication and the Pakistan Software Export Board, reinforcing the country’s commitment to becoming an IT hub.
