The technology event foresees investments of 500 million dollars

KARACHI:

The three-day 25th ITCN Asia 2024 ended on a positive note, with the event expected to generate over $500 million in investments and business deals, signaling a major boost to Pakistan’s national economy.

Umair Nizam, Project Director of ITCN Asia, expressed optimism that the event will make a significant contribution to Pakistan’s economic landscape, highlighting the nation’s potential to overcome challenges through a combination of hard work and innovation. “Pakistan is becoming the regional hub of technology,” Nizam said, stressing the importance of smart strategies to promote the country’s technology sector.

Mohammad Zohaib Khan, Chairman of P@SHA highlighted the steady growth of Pakistan’s exports in IT and IT services. He stressed that sustainable policies are vital to further enhance the value of the sector. Pakistani IT companies have already made their mark globally, contributing to major projects such as the development of the UAE’s central payment system and providing cutting-edge software solutions to renowned international companies.

Former Minister of State and Chairman of the Board of Investment, Azfar Ahsan, emphasized the importance of a unified approach among entrepreneurs, policy makers and stakeholders. He advocated a “business map” that would ensure the continuation of long-term policies and create an enabling environment for both local and foreign investment in various sectors. According to Ahsan, formulating a 25-year economic development roadmap is essential and such policies should be followed, regardless of political changes in the country.

Ahsan further pointed out that Pakistan, with its strategic location and huge market potential, has the capacity to attract significant foreign investment. However, the absence of consistent policies continues to be an obstacle to development. He urged Pakistani businessmen to facilitate foreign investors, noting that many international entities are keen to do business with Pakistan but require easier access to investment opportunities in many sectors.