Islamabad: At the opening ceremony of the Global Digital Economy Conference 2024 in Beijing, Minister of State for IT and Telecommunication, Shaza Fatima Khawaja, emphasized the significant opportunities arising from the strategic partnership between Pakistan and China in the IT sector. She highlighted the China-Pakistan Economic Corridor (CPEC) as a foundational element for joint ventures and technology-driven initiatives that could drive economic growth, job creation, and sustainable development.
According to Ministry of Information Technology and Telecommunication, Minister Khawaja detailed the integration of digital technologies in CPEC projects, asserting that this collaboration not only enhances Pakistan’s economic landscape but also positions it as a key player in the global IT industry. The conference, held at the China National Convention Center from July 2nd to 5th, is themed “Embarking on a New Era of Digital Intelligence, Sharing a New Future of Digital Economy.”
Shaza Fatima outlined the vast potential within the fields of artificial intelligence, cybersecurity, e-commerce, and digital infrastructure, where both nations could benefit from mutual exchanges of knowledge and technology. She noted that Pakistan’s IT sector has become a pivotal part of its economic development, with the country being recognized as a top destination for outsourcing.
The Minister also remarked on the favorable business conditions in Pakistan, including significant cost reductions in operations and comprehensive government support such as 100% equity ownership, full repatriation of capital and dividends, and income tax credits for IT exports. These incentives are designed to attract foreign investors and bolster the local IT industry.
Additionally, Shaza Fatima praised China’s advancements in technology sectors like artificial intelligence and big data, suggesting that the ongoing collaboration under the Belt and Road Initiative and the Digital Silk Route project could lead to a digital renaissance benefiting the entire region.
The Global Digital Economy Conference serves as a crucial platform for fostering partnerships, discussing regulatory frameworks, and promoting sustainable business growth between the two countries, providing ample opportunities for both nations to enhance their digital economies.