Amir Saeed

Shenzhen, a city in southern China, has emerged as a global technology powerhouse, boasting a vibrant ecosystem of startups, innovation hubs, and industry leaders. This incredible journey provides vital lessons for Pakistan to boost its tech sector and drive economic growth. Speaking to WealthPK, Mustafa Haider, Executive Director of Pakistan-China Institute Lahore, said Shenzhen was a small fishing village, but its designation as China’s first Special Economic Zone (SEZ) in the 1980s set off a rapid period of modernization and innovation. Shenzhen is now home to tech giants like Huawei, Tencent, and ZTE and a thriving startup culture. He explained that strategic planning, infrastructure investments, and a favorable environment contributed to Shenzhen’s technological success. The city has established specific tech zones, incubators, and accelerators, which provide resources and funding to the entrepreneurs and startups. He opined that Pakistan, with its growing pool of tech talent and entrepreneurial spirit, could draw inspiration from Shenzhen’s model.

By copying similar initiatives and creating a favorable business environment, Pakistan can unlock its tech potential and drive economic growth, he believes. “One key takeaway from Shenzhen’s story is the importance of innovation and research and development (R&D). Pakistan must prioritize investment in R&D, encouraging collaboration among the academia, industry, and government to drive innovation and entrepreneurship.” Concluding, the Pakistan-China Institute Lahore executive director said establishing SEZs and promoting a favorable business climate would help Pakistan attract foreign investment and revitalize its growth. Dr. Anwar Shah, a development economic researcher at the Quaid-e-Azam University, told WealthPK that Shenzhen’s success emphasized the importance of strategic partnerships and cooperation. He suggested that Pakistan look at the prospects for international cooperation, drawing foreign investment and skills to help grow its technology sector.

“The country must prioritize education and skill development, with the emphasis on emerging technologies such as artificial intelligence, blockchains, and cyber security. Developing a robust digital payment infrastructure would enhance financial inclusion and e-commerce growth. “Developing infrastructure, including high-speed internet and data centres, is also crucial in supporting the growth of tech industries. Furthermore, creating a favorable business environment with policies and regulations that attract foreign investment and support startups would help Pakistan become a hub for tech investment.” He said fostering a culture of innovation and experimentation needed a focus on tackling local and regional challenges through technology to help the country become a leader in the regional tech landscape. Initiatives like IT parks and IT cities are the steps in the right direction, but they often fail to yield significant and sustainable progress, he said, emphasizing partnerships with global tech leaders.

Credit: INP-WealthPk