IT minister claims, “Digital technologies will unlock new avenues of growth, job creation”, reported in The Tribune News.
BEIJING:
Minister of State for IT and Telecommunication Shaza Fatima Khawaja on Tuesday claimed that “The all-weather strategic cooperative partnership between Pakistan and China had opened doors to unparalleled opportunities in the information technology sector.”
“The China-Pakistan Economic Corridor (CPEC) serves as a cornerstone of bilateral cooperation between Pakistan and China, offering a multitude of opportunities for joint ventures and technology-driven initiatives,” she said while communicating at the opening ceremony of the Global Digital Economy Conference (GDEC) 2024.
“The integration of digital technologies into CPEC projects holds the promise of unlocking new avenues for economic growth, job creation and sustainable development.”
Be it artificial intelligence, cybersecurity, e-commerce or digital infrastructure, she claimed, there is extreme potential for joint ventures, knowledge exchange, networking opportunities and skill development.
She focused on the point that “The vast potential of China’s IT market presented a significant opportunity for foreign companies, including those from Pakistan, to expand their business and boost exports.”
“The partnership between Pakistan and China has continued to flourish, reflecting a long-standing tradition of collaboration and mutual growth. This partnership takes a significant step forward as the two sides convene to explore the vast potential in the IT sector,” she commented. The global landscape has provided evidence of a digital revolution in many previous years, which sectioned the IT sector as a milestone of financial growth, innovation and social revolution.
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“Pakistan’s IT sector has emerged as a powerful catalyst for economic growth. According to Kearney’s Global Services Location Index in 2022, Pakistan is the most attractive destination for outsourcing. With around 20,000 registered IT and IT-enabled services companies exporting to over 170 countries, the sector’s growth has remained robust,” she further claimed.
It may be considered that 20 top IT enterprises of Pakistan is taking part in the GDEC 2024 and are assumed to sign MoUs to grow collaboration in IT between China and Pakistan.
The minister showcased that the triumph could feature too many key elements as Pakistan was providing the expectedly 75,000 IT graduates annually and had a professional and energetic workforce that fulfilled global requirements.
Also, the country provides offshore dealings with a 70% reduction in operational costs in comparison to the western destinations. The government’s collaboration, through the Pakistan Software Export Board, includes 100% equity ownership, 100% repatriation of capital and dividends, and revenue tax credits to foreign investors for IT exports.
Published in Tribune News
