Pakistan’s IT Exports Grow by 25%, Aiming for $25 Billion Target

• Pakistan's IT exports have grown by 25%, with the government aiming to reach a $25 billion target.
• IT Minister highlights growth in IT exports.
• Minister of State for IT and Telecommunication Shaza Fatima said Pakistan’s technology sector has shown promising growth in the past few years.

Pakistan's ICT exports have experienced a significant 25% growth, and the government is focused on building upon this momentum to reach the ambitious target of $25 billion. Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, shared these insights while addressing the first-ever Pak-US Tech Investment Conference 2024 through a video link.

Fatima emphasized that the conference is a landmark event for Pakistan’s IT sector, fostering collaboration between U.S. and Pakistani businesses and advancing innovation. She highlighted that Pakistan’s technology industry has seen promising growth driven by innovation, entrepreneurship, and a strong commitment to progress.

The minister noted that Pakistan is making considerable strides in providing secure cyberspace for businesses, with the country ranked in Tier-1 in the Global Cybersecurity Index by ITU, alongside global leaders like the United States and Japan. She pointed to initiatives such as the National Cyber Security Policy and the CERT rules as pivotal in this achievement.

Pakistan’s digital transformation is also reflected in the UN E-Government Development Index, where the country has moved up 14 places from 2022, now ranking in the High EGDI category. Over 60% of Pakistan's IT and ITeS exports go to the U.S. and UK, demonstrating the high quality of work produced by Pakistani enterprises and freelancers.

The government is fully committed to nurturing the IT sector, with plans for the National Digital Commission and Pakistan Digital Authority to support nationwide digitization. Fatima further noted that Pakistan’s young workforce, with over 75,000 new IT graduates annually, is a valuable asset. With 63% of the population under 30, the country is investing in their skills and certifications to foster an innovative workforce that can contribute both locally and internationally.

Pakistan is increasingly viewed as an attractive destination for international investors, offering state-of-the-art facilities, tax exemptions, and a supportive business environment. The government remains focused on creating a thriving digital ecosystem led by the private sector.

[embedpost slug="/todays-gold-price-in-saudi-arabia-11-november-2024/"]