According to Badar-uz-Zaman, Commercial Counsellor at the Pakistan embassy, SCO members are leveraging Pakistani markets to strengthen the digital economy.
Pakistan’s digital economy is a priority for the Shanghai Cooperation Organization. The digitalization is linked with infrastructure and innovation. From Pakistan’s standpoint, both of these features remain untapped. According to a report released by Gwadar Pro on Monday, SCO members will capitalize the Pakistani market and resources to boost country’s digital economy.
“In Pakistan and under the safe city schemes, we have a greater need to construct up data centres.” Top Chinese firms such as Huawei, JD.com, and Tencent may send delegations to Pakistan to discuss future collaboration,” Badar remarked.
Under the China-Pakistan Economic Corridor, Pakistan and China have already established an Optical Fibre Cable Project (CPEC). The initiative would aid Pakistan’s ICT and telecom industries, as well as tourism, IA, 4G, 5G, and other associated industries.
Given that more than 64 percent of Pakistan’s population is under the age of 30, any country can benefit from this demographic. This vast potential can be put to good use in terms of digital adoption. In Pakistan, the mobile phone sector has flourished in recent years. This quick expansion has had a significant impact on Pakistan’s overall development.
China’s digital economy has already surpassed $5.4 trillion in value. High-quality digital collaboration is required between China and Pakistan. China is in a position to help Pakistan expand its economy by forming a mutual digital community. With the support of Pakistan’s local technology ecosystem, China’s technical innovations will provide a significant change in productivity development, exploit digital open-door opportunities, and expand digital infrastructure.