Dr. Umar Saif, Pakistan’s Caretaker Minister for Information Technology and Telecommunication, spoke on Monday, highlighting the lucrative potential for international investors in Pakistan’s digital banking, FinTech, and AgriTech and telecom infrastructure sectors.
At the inaugural session of the Global Information Technology Exhibition in Dubai, Dr. Saif emphasized the attractiveness of Pakistan as an investment destination, mentioning various incentives such as tax concessions and a 100% ownership rights regime.
With the Dubai Global Exhibition running from October 16 to 20 and featuring delegates from 170 countries, representing over 6,000 IT companies, Dr. Saif outlined that 85% of Pakistan’s population lacks bank accounts, creating a significant opportunity for digital payment solutions.
Furthermore, he pointed out that Pakistan’s youthful population, with 65% aged under 30, presents an attractive demographic for investment. Dr. Saif noted that Pakistan’s IT talent, along with its strategic geographical location, offers substantial opportunities in the technology sector.
Pakistan’s extensive telecommunications sector, boasting 192 million cellular subscribers, provides a vast market for investment. Dr. Saif also mentioned future prospects for battery and device component production, expanding investment horizons.
Key officials from the Pakistan Software Export Board, Agnate, and the Pakistan Software Houses Association were present at the event. Additionally, 54 IT companies and 30 startups from Pakistan participated in the Dubai Global Exhibition, reinforcing Pakistan’s presence in the global tech landscape.
