Islamabad, Nov 12: Pakistan-U.S. Tech Investment Conference Secures $20 Million Initial Commitment from Pakistani-American Companies. A Tech Investment Conference focused on Pakistan-U.S. relations took place in California on Sunday, signifying a significant development for Pakistan’s IT industry, with American companies, mainly led by Pakistani-American entrepreneurs, initially committing over $20 million, as stated in a press release from the embassy.
The event was inaugurated by Rizwan Saeed Sheikh, Pakistan’s Ambassador to the United States, and was organized by the Pakistani Consulate in Los Angeles, with support from the Ministry of IT & Telecom, Ministry of Commerce, Pakistan Software Export Board (PSEB), and the Trade Development Authority of Pakistan (TDAP).
Local partners included OPEN-SV and the Pakistan-American Tech Council (PTC), which operates in California. Hosted at Stanford University and directed by Consul General Asim Ali Khan in Los Angeles, the conference attracted a diverse group of participants, such as IT companies, venture capitalists, successful tech professionals, and distinguished members of the Pakistani community living abroad. Elected officials, government representatives, and media members were also present at the event.
In her keynote address, State Minister for IT and Telecommunication, Ms. Shaza Fatima Khawaja, emphasized the government’s steadfast commitment to enhancing the IT sector and reaching an ambitious export goal of $25 billion. She underscored strategic initiatives designed to promote an investor-friendly environment, encouraging the diaspora to take advantage of these prospects.
Ms. Khawaja pointed out that Pakistan’s IT sector was flourishing, with exports already surpassing $3 billion. She assured that the government was dedicated to supporting the IT industry, nurturing innovation, and maintaining the momentum to drive both technological and economic advancement.
In his comments, Ambassador Sheikh expressed the importance of Pakistan’s geo-strategic position, highlighting its cost-effectiveness and competitive quality in the IT field. He noted the country’s young, skilled, and resilient populace as a crucial growth factor, backed by government policies aimed at leveraging this demographic advantage and converting it into a sustainable economic resource.
The Ambassador urged American companies to investigate Pakistan’s dynamic market and called upon the Pakistani-American tech community to facilitate deeper economic partnerships. He also addressed prevalent misconceptions, reaffirming Pakistan’s status as an appealing investment destination, recognized globally.
The PSEB delegation, under the leadership of its CEO, showcased 11 innovative Pakistani startups, reflecting the sector’s expanding technical capabilities. A representative from the U.S. State Department’s economic team for Pakistan also participated in the event, reinforcing bilateral support, as mentioned in the press release.
The conference highlighted various projects in fields such as Artificial Intelligence, FinTech, Health Tech, E-Commerce, and software development. These initiatives aim to create jobs, attract foreign investments, and effectively integrate Pakistan’s IT landscape into the international market. Delegates praised the government’s strong approach in fostering innovation and regarded the conference as a proof of the efficacy of Pakistan’s economic diplomacy and its broader strategies for revival.
Keynote speakers included the CEO of PSEB, the President of OPEN-GLOBAL, and crucial representatives from emerging startups. Central Business District (CBD) Punjab presented its advanced IT infrastructure projects, appealing to U.S. investors. A panel discussion featured success stories of U.S. firms operating within Pakistan’s IT sector, touching on topics like semiconductor design and software development, along with contributions from a senior executive at Google.
Ambassador Sheikh, PSEB, and other partners pledged to sustain the progress through ongoing engagement with the diaspora and expanded outreach. The Ambassador introduced the concept of the “Digital Trinity,” suggesting a collaborative partnership that utilizes U.S. technology, Saudi investment, and Pakistan’s skilled workforce in the IT industry to achieve mutual growth.The conference highlights the long-standing bilateral relationship, with technology serving as a crucial channel for attaining socio-economic development.
