Ayesha Saba

The Pak-China strategic partnership represents a promising development for the IT sectors of both nations. By focusing on strategic collaboration, skills development, and innovation, this initiative holds the potential to drive substantial economic and technological advancements. Talking to WealthPK, Socio-Economic Development Specialist at the CPEC Authority Adnan Khan said, “China has made remarkable strides in the development of technologies and is now the top source of foreign direct investment (FDI) in Pakistan. With the help of China, Pakistan’s ICT industry has transformed from a legacy to a truly digitalized industry, particularly in the field of telecommunications and information technology.” He emphasized the potential of this collaboration to diversify Pakistan's economy. By focusing on IT, Pakistan can reduce its dependence on traditional sectors like agriculture and textiles, creating jobs, attracting foreign investment, and increasing exports. He noted that Pakistan aimed to foster business-to-business (B2B) cooperation and had been striving to implement an export-oriented policy.

A positive sign has been seen through the FTAs, especially with China, as we have achieved a significant level of trade partnerships, which will further improve in the coming time. The official said, “There are four new joint working groups on digitization of industrial and agriculture sectors and development of information technology and science and technology sectors under the CPEC second phase”. Chairman Coordination of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Malik Sohail Hussain told WealthPK that China was enhancing its domestic productivity through significant advancements in digital economy. As a global leader in this sector, it is also actively involved in building global digital infrastructure through the Digital Silk Road initiative. “Compared to some neighboring countries, Pakistan's investment in digital infrastructure has been relatively lower. India's IT sector has been recognized globally for its significant contributions to the industry.

The recent opening of Apple stores in India showcases the country's growing importance in the technology and consumer electronics market,” he said. He pointed out that Pakistan should prioritize investing in quality education and technical training programs to develop a pool of skilled professionals in areas such as software development, data analytics, artificial intelligence, and cybersecurity. Learning from China's advancements will accelerate Pakistan's digital transformation and enhance its competitiveness globally. Titled “Opening up a New Era of Digital Intelligence, Sharing a New Digital Future”, the 4th Global Digital Economy Conference 2024 (GDEC) was recently held in Beijing. Approximately 20 leading IT companies from Pakistan participated in the event, all of which were expected to sign MOUs to enhance China-Pakistan IT cooperation, according to the Ministry of Information Technology and Telecommunication of Pakistan.

Credit: INP-WealthPk