At the recently held Pakistan-US Tech Investment Conference in California, US-based companies, led by Pakistani-American entrepreneurs, pledged over $20 million in initial commitments. This development was described as a “pivotal moment” for Pakistan’s information technology sector. The event, inaugurated by Pakistan’s Ambassador to the United States, Rizwan Saeed Sheikh, was organized by the Pakistani Consulate in Los Angeles and supported by various Pakistani government ministries, including IT & Telecom, Commerce, PSEB, and TDAP.
Held at Stanford University, the conference attracted a diverse group of participants, including IT firms, venture capitalists, tech professionals, and prominent members of the Pakistani diaspora, as well as government officials and journalists.
In her keynote address, Pakistan’s IT Minister Shaza Fatima Khawaja reiterated the government’s strong commitment to advancing the IT sector, with an ambitious goal of reaching $25 billion in IT exports. She emphasized the strategic initiatives in place to create an investor-friendly environment and encouraged the Pakistani diaspora to seize these opportunities. Khawaja also highlighted the sector’s growth, with exports surpassing $3 billion, and stressed the government’s ongoing support for innovation and economic progress.
The conference showcased various projects in fields like artificial intelligence, fintech, health tech, e-commerce, and software development, aimed at generating jobs, attracting foreign investment, and integrating Pakistan’s IT sector into the global market.
Ambassador Sheikh called on American businesses to explore Pakistan’s growing market and encouraged the Pakistani-American tech community to strengthen economic ties between the two countries. He also addressed misconceptions about Pakistan, reinforcing its image as a thriving investment destination, recognized globally.
The conference also featured 11 Pakistani startups, with a delegation from the PSEB led by its CEO, as well as a representative from the US State Department’s economic team for Pakistan. However, despite collaboration with countries like Saudi Arabia, Pakistan’s IT sector faces significant challenges, such as internet connectivity issues caused by firewalls regulating content and social media platforms. These obstacles hinder communication with international clients, delay deliveries, and result in lost business opportunities, stifling growth and causing financial losses for Pakistan’s IT industry.
