BEIJING:
Information Technology and Telecommunication Minister Shaza Fatima Khawaja said on Tuesday that the all-time strategic partnership between Pakistan and China has opened doors to unparalleled opportunities in the field of information technology.
“The China-Pakistan Economic Corridor (CPEC) serves as a cornerstone of bilateral cooperation between Pakistan and China, offering many opportunities for joint ventures and technology-driven initiatives,” she said while addressing the opening ceremony of the World Digital Economy Conference. (GDEC) 2024.
“The integration of digital technologies into CPEC projects promises to unlock new avenues for economic growth, job creation and sustainable development.”
Whether it was artificial intelligence, cyber security, e-commerce or digital infrastructure, he said, there was huge potential for joint ventures, knowledge sharing, networking opportunities and skills development.
He pointed out that the huge potential of China’s IT market offers a significant opportunity for foreign companies, including those from Pakistan, to expand their operations and boost exports.
“The cooperation between Pakistan and China has continued to flourish, reflecting a long tradition of cooperation and mutual development. This partnership takes an important step forward as the two sides come together to explore the vast potential in IT,” he noted. The global landscape has seen a digital revolution in recent years, which positions the IT sector as a cornerstone of economic growth, innovation and social transformation.
“Pakistan’s IT sector has emerged as a powerful catalyst for economic growth. According to Kearney’s 2022 Global Services Location Index, Pakistan is the most attractive outsourcing destination. With approximately 20,000 registered IT and IT services companies exporting to more than 170 countries, industry growth has remained strong,” he added.
It is noted that 20 leading IT companies of Pakistan are participating in GDEC 2024 and are expected to sign MoUs to enhance IT cooperation between China and Pakistan.
The minister emphasized that the success can be attributed to several key factors as Pakistan produces about 75,000 IT graduates annually and has a skilled and dynamic workforce that met global standards.
Also, the country offers offshore services with a 70% reduction in operating costs compared to Western destinations. Government support, through the Pakistan Software Export Board, includes 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits to foreign investors for IT exports.
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