ISLAMABAD: Recognizing the immense potential of IT sector, both Pakistan and China have made substantial strides in harnessing its capabilities, Minister of State for Information Technology and Telecommunication, Shaza Fatima Khawaja said on Tuesday.
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, our IT sector growth is robust.
We offer 100% equity ownership, 100% repatriation of capital and dividends, and income tax credits for IT exports to foreign investors, she told media after addressing as a keynote speaker at the opening session of Global Digital Economy Conference 2024.
About significance of her official visit of China, she said the primary aim is to see and collaborate with different partners across the world who are present here.
She highlighted that the digitization process and digitizing economies is now becoming more of an international and transnational phenomenon.
We are looking forward to partnerships that we can foster with other countries in this particular domain and how can Pakistan benefit from the expertise and share experience and also how can Pakistan add value to these other countries when it comes to digitization, she added.
Responding to a question about Pakistani IT companies participating in this conference and vision of the government on digital economy, she said that soon after assuming charge few months back, Prime Minister Shahbaz Sharif main goal was digitizing the whole nation in three particular verticals, including digital economy, digital governance, digital society, but digital economy certainly remains a top priority.
The government already legislated national digitization commission where the prime minister himself will be overseeing the work process. So, hopefully very soon, we will, embark upon this journey, she added.
About incentives or advantages for Chinese companies which intends to go to Pakistan, she said that Pakistan at this point in time offers a very large youth population that also serves as a free market and also as a great human resource potential.
Skilling this young population means getting effective and efficient smart human resource at very reasonable cost compared to other regions, she added.
And in addition to that, policies, including special technology zones authority, we have multiple and different incentives like export promotion zones, where we are fully supporting services, but also manufacturing repatriation, equity, great time zone to operate from the multiple advantages of operating from Pakistan as a foreign company.
Responding to a question regarding her expectations and the technology transfer from China to Pakistan, she said that the basically idea is to get as many joint ventures for private sector and get investment from China but also to have a shared technical expertise when it comes to human resource. So, that is two pronged agenda that we are looking forward to meet.
The minister is also leading a delegation of 20 IT companies from Pakistan for developing business to business cooperation with the Chinese companies.
The Global Digital Economy Conference 2024 being held at China National Convention Center, Beijing, is aimed to expand global cooperation in the digital economy.
