Islamabad: Prime Minister Shehbaz Sharif on Saturday welcomed Pakistan’s inclusion in the joint Digital Foreign Direct Investment (FDI) Initiative by the World Economic Forum (WEF) and the Digital Cooperation Organization (DCO).
“Pakistan is the first country to adopt the Digital Foreign Direct Investment Initiative under the World Economic Forum,” the prime minister stated in a release issued by the Prime Minister’s Office (PMO).
Launched in 2022 at Davos, the initiative aims to facilitate cross-border investments in the digital economy, particularly in emerging markets. According to WEF’s latest report, the project focuses on four key pillars: digital infrastructure, digital adoption, new digital activities, and digital services exports.
The report highlighted that Pakistan’s digital ecosystem has potential, and attracting digital FDI could drive economic progress. “The project aims to boost digital FDI in Pakistan by promoting a digitally friendly investment climate and increasing investor interest and activity in the country,” the report noted.
The WEF report also stated that digital FDI in Pakistan remains low compared to countries like India and Indonesia. “FDI in India is nearly 20 times higher,” it said. The report suggested that the formation of a new government in February 2024 provides an opportunity to stabilize political conditions and improve investor confidence.
Prime Minister Shehbaz Sharif emphasized the importance of the initiative. “Pakistan’s first Digital FDI project is making significant efforts to promote digital growth by identifying key targets,” he said. “This is a milestone toward creating an investor-friendly environment in the country.”
The prime minister also reiterated the government’s focus on building an inclusive digital economy. “This initiative reflects the government’s commitment to fostering economic growth,” he said.
