Pakistan is taking steps to establish a welcoming environment for the digital industry, and now is the right time to elevate tech relations with the United States (US) according to Ambassador Masood Khan.
The United States is willing to assist, and we are ready to join the IT revolution by integrating and adopting breakthroughs in US technologies, Khan said at the Pakistan Tech Summit 2022 in Silicon Valley, California.
According to the Pakistani ambassador, the Forum provides a venue for Pakistani business leaders, tech startups, and technology professionals to come together and establish affinities, expand contacts between Silicon Valley and the Pakistani startup ecosystem, and team up for Pakistan’s better future.
He said that more than 64 per cent of Pakistan’s population is under the age of 30, and the country’s burgeoning middle class is likely to surpass the 100 million mark in the near future. This youth bulge, paired with a rising middle class, envisioned a bright future for the country’s IT sector.
He claimed that tech entrepreneurs in Pakistan have made half a billion dollars in the last 18 months, largely due to US funding, and that the sector is poised to create tens of billions of dollars in the next decade.
Ambassador Khan stated that the Pakistani government will continue to take initiatives to make the tech industry more welcoming. He stated that laws are being made more business-friendly, that ease of doing business is a focus, and that venture capitalists are being offered incentives.
The Envoy mentioned many incentives being offered to boost the tech sector, including the ability for investors to return their funds, data protection legislation in the works, and intellectual property challenges being handled.
“We want to open a consulate general in the Bay Area to connect Silicon Valley with Pakistan in order to promote and assist the growth of entrepreneurs in Pakistan,” the Ambassador continued.
During the conference, he invited participants to share the results of their discussions and to identify areas where the government and embassy could assist.