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Chinese Digital Infrastructure Capsule for Pakistan’s rising Digital Economy: Experts
December 13, 2021
ISLAMABAD, Dec 13 (INP): Chinese Digital Infrastructure capsule for Pakistan’s rising Digital Economy, says a report published by Gwadar Pro on Monday quoting economic experts.
The experts stated that building a meaningful economy with a focus on digitalization is a top priority policy for emerging economies in the world. Pakistan has the same paradigm shift towards digitalization and Chinese expertise in this field could speed up digital transformation.
According to the experts, Pakistan at the government and state level, there are several ministries already working on this goal including ad hoc committees and task forces are dedicated to the digital transformation.
As we see that more than 64% population in Pakistan is under the age of 30, it is an ideal potential for any country to enjoy an advantage. This enormous potential can be used for digital adoption. In the last few years, the mobile phone industry has grown in Pakistan. This rapid growth has had a clear impact on the overall development of Pakistan.
In 2018, it was noticed that $16.7 billion “Mobile Ecosystem” has contributed to the economy which is equivalent to 5.4% of the country’s GDP.
Recently, a study by AlhpBeta (commissioned by Google) suggested that in Pakistan by 2030 digital technologies have the potential to unlock $59.7 billion annual economic value.
China’s digital economy already stretched to $5.4 trillion. In the post-pandemic, Pakistan’s economy can be boosted with China’s Digital economy help.
To reach this point there must be more digital cooperation, efforts for creating a digital bridge, the flow of data, and other policy-driven steps need to be taken swiftly. China’s digital economy and new digital emerging market is a fast-progressive way for the country’s growth. It is playing a very crucial role in the economic recovery as well.
China and Pakistan must take high-quality digital cooperation. China is in a position to build a mutual digital community in Pakistan for a digital economy boost-up. Pakistan is a land of opportunity with young skilled professionals. Youth-oriented Pakistan is the discoverable marketplace for digital transformation.
This unmatched potential is untapped and a Tech Giant Google has shown its interest too by a commissioned research study. China’s technologies innovations transfer to Pakistan will bring a major change in productivity growth, capture digital open-door opportunities, develop digital infrastructure with the help of Pakistani local existing technological ecosystem.
CPEC is a bridge between both countries to promote a digital economy infrastructure with focused areas.
INP/javed
