Daily Times

Minister of State for IT and Telecommunications, Shaza Fatima Khawaja Tuesday said that the all-weather strategic cooperative partnership between Pakistan and China opens doors to unparalleled opportunities in IT 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 as well.

The integration of digital technologies into CPEC projects holds the promise of unlocking new avenues for economic growth, job creation, and sustainable development, she made the remarks while addressing opening ceremony of Global Digital Economy Conference 2024.

The minister said that the strategic partnership between Pakistan and China opens doors to unparalleled opportunities for collaboration in the IT sector.

“Whether it is in the fields of artificial intelligence, cybersecurity, e-commerce, or digital infrastructure, there exists immense potential for joint ventures, knowledge exchange, networking opportunities and skill development,” she added.

Shaza Fatima said that the vast potential of China’s IT market presents a significant opportunity for foreign companies, including those from Pakistan, to expand their businesses and boost exports.

The minister remarked that the partnership between Pakistan and China continues to flourish, reflecting a long-standing tradition of collaboration and mutual growth.

This partnership takes a significant step forward as they convene to explore the vast potential within the Information Technology (IT) sector.

Shaza Fatima said that the global landscape has witnessed a digital revolution in recent years, positioning the IT sector as a cornerstone of economic development, innovation, and social transformation. Recognizing the immense potential of this sector, both Pakistan and China have made substantial strides in harnessing its capabilities.

“Pakistan’s IT sector has emerged as a powerful catalyst for the nation’s 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 (ITeS) companies exporting to over 170 countries, the sector’s growth is robust,” she added.

It is worth mentioning that 20 top IT companies from Pakistan is participating in GDEC 2024 and expected to sign MoU to enhance IT cooperation between China and Pakistan.

The minister said that this success can be attributed to several key factors. Pakistan produces approximately 75,000 IT graduates annually, a skilled and dynamic workforce that meets global standards. The country offers offshore services at a remarkable 70% reduction in operational costs compared to Western destinations. The government’s support, through the Pakistan Software Export Board (PSEB), includes 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits for IT exports to foreign investors.