Amir Saeed

 Dubai has developed into a booming IT and tech hub drawing talent and investments from all over the world. Pakistan can learn a lot from Dubai’s business-friendly environment to overcome the challenges facing its IT industry. Omer Ahmed, Chief Executive Officer (CEO) of Avanza Solutions Private Limited, a leading IT firm, told WealthPK. The significance of a streamlined and effective regulatory structure is one important lesson Pakistan must learn from Dubai. The government should put in place a number of measures, such as internet portals and single-window processes, to make the process of starting and operating a business easier. “Pakistan’s digital payments infrastructure is underdeveloped, making it difficult for tech companies to process transactions efficiently. The country needs to attract payment giants like PayPal and offer seamless access to payment systems to making itself an attractive destination for companies seeking easy payment collection and international transactions,’’ he stressed.

 He suggested that Pakistan must prioritize investments in its digital infrastructure, including broadband expansion and data centre development, to support the growth of its IT sector. The country needs to establish clear regulations and guidelines for digital payments, including consumer protection and dispute resolution. Talking to WealthPK, Muhammad Iqbal Kakakhail, Manager of Ideomatrix, a digital marketing firm, said Dubai’s appeal to global software companies stemmed from its smooth payment processes, favorable business environment, and robust contract enforcement. IT companies highlight the Emirate’s location and infrastructure as an additional benefit.

 He lamented that Pakistan had a tightly regulated financial system, which posed significant challenges for businesses. Businesses find it more practical to incorporate in countries where the payment processing is streamlined and achieving international security standards is simpler. He opined that Pakistan’s tech industry could flourish with encouraging policies and government support, attracting multinational technology companies to establish regional headquarters in the country’s major cities. Kakakhail lamented that the country had a history of internet censorship, which has had a disastrous impact on the tech industry’s freedom to operate. The government should take steps to reverse its history of internet censorship and promote a free and open internet by establishing clear guidelines for internet governance.

 The Ideomatrix manager pointed out that the country faced a severe energy crisis, with frequent power outages and load shedding affecting the tech industry operations. The government should implement load management strategies and energy conservation measures. Concluding, he said owing to the lack of better opportunities, the country faced a brain drain, with many skilled tech professionals emigrating to other countries for better opportunities. A supportive environment is needed to encourage innovation, entrepreneurship, and creativity to retain the skilled labor force in the country.

Credit: INP-WealthPk