Islamabad, During a high-profile event at the Serena Hotel, the United Nations Development Programme (UNDP) unveiled its latest report, “The State of Youth Entrepreneurship Ecosystem in Pakistan,” in collaboration with the Citi Foundation, Islamic Development Bank, and the Commonwealth Secretariat.
According to United Nations Development Programme, the report provides a comprehensive analysis of the growth and challenges within Pakistan’s youth entrepreneurship ecosystem. It utilizes Youth Co:Lab’s entrepreneurship ecosystem diagnostic framework, covering six domains crucial for nurturing an inclusive entrepreneurial environment.
The report highlights significant growth in youth entrepreneurship but also pinpoints persistent challenges that hinder young entrepreneurs. Key areas such as policy and regulatory frameworks, human capital, access to finance, and business support infrastructure are scrutinized to offer a detailed overview of the existing landscape and what is required to improve it.
Dr. Samuel Rizk, UNDP Pakistan’s Resident Representative, emphasized the report’s potential to guide stakeholders in enhancing the entrepreneurship ecosystem, particularly stressing the importance of gender inclusivity in entrepreneurial ventures. Syed Husain Quadri from the IsDB and Sushil Ram from the Commonwealth Secretariat echoed the need for collaborative efforts to empower the youth and enable their entrepreneurial potential fully.
Rana Mashhood Khan, Chairman of the Prime Minister’s Youth Programme, acknowledged the report as a crucial tool for informing policy and pledged to move forward with implementing its recommendations to ensure that Pakistan’s youth can contribute effectively to the country’s economic and societal development.