Investment in Digital Ecosystem & IT Holds key for Strengthening Country’s Economy: Minister
In this modern digital age, the promotion of information technology and data sciences is essential to overcoming future challenges. The Federal Minister for Commerce, Naveed Qamar, recently stated it during the US-Pakistani Diaspora Conference on Accelerating Silicon Investments in Pakistan organized by USAID. In addition to it, the minister said that the National Assembly would soon pass the Data Protection Bill 2021, which will strengthen the IT and digital economy in the country. Furthermore, the minister pledged his complete support for promoting trade and investment in the digital ecosystem and information technology.
Investment in Digital Ecosystem & IT Holds key for Strengthening Country’s Economy: Minister
According to Mr. Naveed, enhancing Pakistan’s IT and digital ecosystem will be made possible by a better understanding of the successful and active US-Pakistani Diaspora in Silicon Valley, as well as the local enterprises and, most crucially, the Pakistani government. Moreover, the minister said that investing in technology is essential to achieving Pakistan’s objectives, thus it makes me happy to hear that at today’s conference, you emphasized how the diaspora can use investments in the technology industry to expand and modernize Pakistan. The minister also informed that the government is developing a strategy to boost IT exports. He stated that in order to leverage digital labor in the growth of this industry, a boot camp and incubation center will be established. The government, according to him, will urge all stakeholders to enhance investment in the digital industry.
The minister promised that the government will do everything possible to finance and create a favorable environment in this area. It is hoped that all political parties will ratify the Charter of Economy because the consistency of policy is essential for a strong national economy.
The minister added that in order to enhance IT exports, academia-industry connectivity is necessary and that it must be put into place. The national economy should be protected from political ups and downs, he said.
Asad Rehman Gilani, the secretary of the Board of Investment, announced that the government now offers all facilities, including a one-window operation to foreign investment in Special Economic Zones and Special Technology Zones.
In order to attract investment in the IT sector and boost local exports, he claimed that the government also offers incentives to other industries. On this occasion, $15 million worth of agreements were made in a number of industries, including IT and health, to attract more foreign investment to the nation and the flood-affected regions.
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