DUBAI: Caretaker Minister for Information Technology and Telecommunication Dr. Umar Saif on Monday said that international investors could greatly benefit from investing in Pakistan’s digital banking, AgriTech, FinTech, and telecom infrastructure sectors.
Addressing the inaugural session of the Global Information Technology Exhibition in Dubai, UAE, the Minister said international investors could take advantage of different incentives in Pakistan, including tax concessions and a 100 percent ownership rights regime.
Running from 16 to 20 October, the Dubai Global Exhibition features delegates from 170 nations, representing more than 6,000 IT companies.
Dr. Saif said that 85 percent of Pakistan’s population does not have bank accounts and prefers to use cash or alternative means for transactions. This presents a great opportunity for offering suitable digital payment solutions.
He said that Pakistan is an attractive market for payment companies like PayPal because of its potential to generate billions in revenue.
He added that Pakistan’s strength lies in its youthful population, with 65 percent of its people under the age of 30.
عالمی اداروں کیلئے ڈیجیٹل بینکنگ، فن ٹیک، ایگری ٹیک، ٹیلی کام انفراسٹرکچر میں سرمایہ کاری کے شاندار مواقع ہیں. عالمی سرمایہ کاروں کو ٹیکس رعایت، 100 فیصد مالکانہ حقوق سمیت متعدد سہولیات دے رہے ہیں.#Fintech
— Ministry of IT & Telecom (@MoitOfficial) October 16, 2023
Pakistan Presents Immense Opportunities
Worldwide, Pakistan’s IT talent and its strategic geographical position present immense opportunities,” he said. Despite facing challenges, the country is rapidly advancing in the field of technology.
Dr. Saif underlined that Pakistan’s IT companies offer high-quality services and valuable experiences that can benefit international markets.
The extensive telecommunications sector in Pakistan, with 192 million cellular subscribers, offers a major market for investment.
The Minister also said that the next phase will involve the production of batteries and other device components, further expanding the investment horizons in the country.
As many as 54 IT companies and thirty startups from Pakistan are also participating in the Dubai Global Exhibition, highlighting Pakistan’s presence in the global tech landscape.
