
Pakistan has secured $700 million in foreign investment into its IT sector. The news was announced by Prime Minister Shehbaz Sharif at the nation's first Digital Foreign Direct Investment (DFDI) conference in Islamabad.
The event united delegations from 45 nations, 75 overseas investors, and CEOs of more than 50 global tech firms.
Pakistan secures $700m tech investment
With 142 million broadband subscribers and 65% smartphone penetration, Pakistan's digital future is expanding.
The Prime Minister stated, "Pakistan is not waiting for the future; we are shaping it." He called upon international investors to be a part of Pakistan's trajectory of establishing a strong digital economy, driven by its educated and youthful labour force.
To facilitate this digital transformation, Huawei will skill 200,000 girls and boys under a government-supported skill development programme.
The PM also added that Pakistan received $4.1 billion in remittances in March, an all-time high that reflects increasing confidence in the country's digital ecosystem.
Notably, Federal IT Minister Shaza Fatima Khawaja revealed that more than 300,000 youth were trained in IT skills during the current year.
She stressed that Pakistan's youth — more than 100 million strong — are its largest digital asset.
Moreover, CEO of the Pakistan Software Export Board Abu Bakar confirmed that IT exports are poised to exceed $4 billion this year.