Pakistan-China partnership fuels IT sector growth, minister says
BEIJING, CHINA — Pakistan’s Minister of State for IT and Telecommunications, Shaza Fatima Khawaja, highlighted the immense potential of the Pakistan-China strategic partnership in the IT sector during the opening ceremony of the Global Digital Economy Conference 2024.
She emphasized that Pakistan’s long-standing strategic partnership with China opens doors to unparalleled opportunities in the IT sector.
China-Pakistan Economic Corridor
The China-Pakistan Economic Corridor (CPEC) remains a cornerstone of bilateral cooperation, offering numerous opportunities for joint ventures and technology-driven initiatives. Khawaja noted that integrating digital technologies into CPEC projects could unlock new avenues for economic growth, job creation, and sustainable development.
“Whether it is in the fields of artificial intelligence, cybersecurity, e-commerce, or digital infrastructure, there exists immense potential for joint ventures, knowledge exchange, networking opportunities, and skill development,” she stated.
Pakistan’s thriving IT sector
Shaza Fatima underscored the robust growth of Pakistan’s IT sector, which has emerged as a powerful catalyst for the nation’s economic growth.
According to Kearney’s Global Services Location Index, in 2022, Pakistan will be the most attractive destination for outsourcing. With around 20,000 registered IT and IT-enabled Services (ITeS) companies exporting to over 170 countries, the sector’s growth is robust.
She mentioned that 20 top IT companies from Pakistan are participating in GDEC 2024 and are expected to sign memorandums of understanding to enhance IT cooperation between China and Pakistan.
Government support and skilled workforce
The minister attributed Pakistan’s IT sector’s success to several key factors, including the production of approximately 75,000 IT graduates annually and a skilled workforce that meets global standards.
The country offers offshore services at a remarkable 70% reduction in operational costs compared to Western destinations.
Government support through the Pakistan Software Export Board (PSEB) includes 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits for IT exports to foreign investors.
China’s technological advancements
China, a global leader in technology and innovation, has made remarkable advancements in artificial intelligence, big data, cloud computing, and 5G technology.
The Belt and Road Initiative and the Digital Silk Route project underscore China’s commitment to building a connected and technologically advanced world.
Shaza Fatima highlighted that the vast potential of China’s IT market presents a significant opportunity for foreign companies, including those from Pakistan, to expand their businesses and boost exports.
A digital renaissance
Looking towards the future, Shaza Fatima expressed optimism about the synergies between Pakistan and China, driving a digital renaissance that would benefit both countries and the entire region.
The ongoing Global Digital Economy Conference serves as a catalyst for fostering meaningful collaborations, providing a platform for companies from both nations to explore joint ventures, share best practices, and engage in knowledge exchange.
The government of Pakistan remains committed to providing the necessary support to transform these collaborations into shining examples of win-win cooperation, ensuring sustainable business growth and innovation in the IT sector.
