Pakistan’s IT sector secures $500 million in investment pledges at tech expo

The 24th edition of ITCN Asia has taken the tech world by storm, concluding with a resounding success as it garnered over $500 million in promises for business and investment deals across the local and international sectors of IT, telecommunications, and affiliated industries. Hosted over three days and wrapping up this Friday, the event showcased the strength and innovation within Pakistan’s burgeoning technology ecosystem.

More than 600 companies from around the globe gathered to share insights, engage in thought leadership, and forge new connections through a series of networking sessions, including the notable AI Summit and Global Digital Summit. Muhammad Umair Nizam, Vice President and Event Director of Ecommerce Gateway Pakistan, underscored the significance of the expo in catalyzing the accelerated growth of the country’s technological landscape, with a special focus on the IT sector.

“This premier tech show sets the stage for achieving multiple milestones for the IT and telecom sectors in Pakistan. We foresee a surge in investment inflows, growth in export receipts, an enhanced startup culture, and the embracing of Artificial Intelligence (AI) technologies,” stated Nizam.

The expo offered a diverse platform, showcasing solutions across various sectors such as government, cloud computing, data centers, cybersecurity, ERP, education, banking & finance, health & pharma, e-commerce, artificial intelligence (AI), and more. Central to ITCN Asia were its networking opportunities and conferences, designed to foster knowledge sharing and lead generation among tech enthusiasts.

Key highlights of the event included the Artificial Intelligence Summit, Global Security Symposium, Gaming and Scholars Roundtable, Investor Summit, Freelancer Summit, and the Made in Pakistan Roundtable Conference.

State Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja, emphasized the expo’s role in showcasing Pakistan’s IT prowess on a global scale during her address at the event’s opening at Lahore’s Expo Center.

“With 68% of our population being young, IT holds vast potential for them. The government is aimed at equipping our youth with the necessary skills and providing support such as affordable loans for the IT sector, especially freelancers,” Shaza Fatima Khawaja expressed during her talk with Radio Pakistan, highlighting several government initiatives to bridge the gap between academia and the industry.

She also took pride in Pakistan’s founding partnership with the Digital Cooperation Organization, marking the country’s commitment and readiness to play a pivotal role in the global IT ecosystem. “Pakistan’s progress in the digital domain, coupled with its vibrant youth producing 10,000 IT graduates annually, places us in a strategic position to transform Pakistan into a significant IT hub,” she added.

The expo saw a substantial international presence with investors from 12 different countries, drawn by the potential for significant investment opportunities estimated at around $500 million, as reported by Pakistani state media. Esteemed tech giants, including Microsoft, Inbox, Red Hat, TP-Link, Lenovo, HP, NetSol, Abacus, and Dell, showcased their latest innovations over the three-day exhibition. The event was backed by several Pakistani governmental and industry entities, demonstrating a unified approach to bolstering the nation’s IT sector.

This gathering not only served as a testament to Pakistan’s dynamic and promising IT ecosystem but also as a beacon attracting global investment and spotlighting the talent and potential within the country’s technology sector.

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