KARACHI: The 25th edition of ITCN Asia 2024 wrapped up with promising projections of over $500 million in investments and business deals, signaling a significant boost to Pakistan’s economic growth.
Umair Nizam, the Project Director of ITCN Asia, expressed confidence in the event’s impact on the nation’s economy, emphasizing Pakistan’s potential to rise above challenges through innovation and dedication. “Pakistan is rapidly emerging as a regional technology hub,” Nizam noted, highlighting the pivotal role of strategic planning in advancing the country’s tech industry.
Mohammad Zohaib Khan, Chairman of the Pakistan Software Houses Association ([P@SHA](https://www.pasha.org.pk/)), emphasized the steady growth of Pakistan’s IT and IT-enabled services exports. He pointed out that maintaining consistent policies is crucial for elevating the sector’s global presence. Pakistani IT firms have already gained international recognition, contributing to key projects like the UAE’s central payment system and delivering state-of-the-art software solutions to prominent global companies.
Former Minister of State and Chairman of the Board of Investment, Azfar Ahsan, underscored the need for a cohesive effort among the business community, policymakers, and other stakeholders. He advocated for a “charter of business” to ensure the stability of long-term policies, creating an environment conducive to both domestic and foreign investments across various sectors. Ahsan stressed that establishing a 25-year economic growth plan is crucial, and such a strategy should be upheld regardless of political changes in the country.
Ahsan further highlighted Pakistan’s strategic advantage and vast market potential, which make it an attractive destination for foreign investments. However, he pointed out that inconsistent policies remain a significant hurdle to realizing this potential. He called on Pakistani business leaders to actively support foreign investors, noting that many international entities are eager to partner with Pakistan but require more accessible investment opportunities across different sectors.
