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News » European firms express interest in Pakistan’s IT sector

European firms express interest in Pakistan’s IT sector

European firms interest in Pakistan IT
Photo from MarkRubens from Getty Images Signature

ISLAMABAD, PAKISTAN — European companies are increasingly looking to invest in Pakistan’s burgeoning IT sector, driven by the effective strategies of the Special Investment Facilitation Council (SIFC)

Startups emerging from the National Incubation Centers, established under the auspices of the SIFC, are attracting significant attention from foreign IT firms eager to enter Pakistan’s market.

One notable development is a European software company’s plan to establish a data center in Karachi. This move is seen as a testament to the growing confidence that foreign entities have in Pakistan’s IT capabilities, bolstered by the strong networking efforts of the National Incubation Centers. 

U.S. web portal Microsoft Network reported that foreign companies are gradually moving their businesses to Pakistan due to growing capacity, trained youth, and emerging opportunities.

Additionally, the Czech Republic-based software company IceWarp announced plans to start another data center in Karachi, in collaboration with Pakistan’s software company Hexalyze. 

Jan Urbik, Global Chief Sales of IceWarp, highlighted the potential for digital transformation in Pakistan. “We will support the Pakistan IT mission by providing affordable solutions,” Urbik stated, emphasizing the cost benefits and the strategic importance of this venture.

Strategic deals signed to propel tech growth

In a related development, several Memorandums of Understanding (MoUs) were signed during a ceremony held at the DHA Karachi Innovista, an IT park in the city of Karachi.

These agreements involve major players in the IT industry, including some of the aforementioned European firms, and are expected to facilitate a range of collaborative projects that could transform the local IT landscape.

The MoUs are part of a broader initiative to create an environment conducive to tech innovation and entrepreneurship in Pakistan. 

These efforts are poised to enhance Pakistan’s IT sector’s technological capabilities and global competitiveness by leveraging international partnerships and local talent.

A promising future for IT in Pakistan

These developments signify a robust growth trajectory for Pakistan’s IT sector, fueled by international investments and strategic local initiatives. 

With the backing of European technology firms and the proactive role of entities like the SIFC, Pakistan is rapidly becoming a key player in the global IT arena, promising exciting opportunities for local and international stakeholders alike.

Last month, Pakistan’s information technology (IT) sector secured $500 million in investment pledges during the 24th edition of ITCN Asia. 

Read more here.

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