Muhammad Saleem

Pakistan urgently needs foreign investment, and member countries of the Shanghai Cooperation Organisation (SCO) can play a pivotal role in addressing this challenge. “We must join hands with Chinese entrepreneurs to elevate our textile sector to new heights. Collaboration with other SCO members is also essential to benefit from their expertise,” emphasized Waheed Ahmed, an industrialist. “This is an era of specialization, and we need to explore innovative avenues to boost our economy and create jobs for the youth,” he told WealthPK. Ahmed added, “The recent SCO summit hosted by Pakistan painted an optimistic picture for our country. Now, it’s up to our policymakers to seize the initiative and launch joint ventures that yield results. If they provide a level playing field with business-friendly and consistent policies, investors will be eager to invest in Pakistan.”

Nabeel Malik, a tech entrepreneur, highlighted Pakistan’s unique advantages for global investors. Speaking to WealthPK, he noted that Pakistan’s rapidly growing, tech-savvy youth population offers a significant pool of skilled talent for investors. “Our engineers and developers are globally recognized for their expertise and cost-effectiveness compared to other outsourcing destinations. Additionally, the government is actively supporting the IT industry through tax breaks,” he said. Malik emphasized the importance of fostering entrepreneurship through startups and the potential role of SCO members in this endeavor. “The world is moving towards innovative digital solutions, and Pakistan has the potential to become an exciting new market for tech investors,” he explained. He acknowledged Pakistan’s ongoing energy crisis but noted recent progress in improving the business environment.

“However, attracting sustained foreign direct investment, particularly in high-growth sectors like technology, remains a challenge,” he said. Malik added that the SCO summit provided an excellent opportunity for Pakistan to showcase its reform efforts to a broader regional audience. “Economic powerhouses like China and Russia represent enormous markets with growing demand for innovative digital solutions. Pakistan can leverage the SCO platform to highlight its strengths and competitive advantages, including a tech-savvy workforce and a cost-effective talent pool,” he said. He further stressed that Pakistan could position itself as an attractive destination for tech-focused foreign direct investment by aligning its investment promotion strategies with the SCO’s priorities around digital connectivity.

“Our developers are demonstrating exceptional software development skills. It’s imperative for policymakers to explore clients within SCO member countries to generate foreign exchange,” he added. “There are ample opportunities to enhance collaboration in areas like cross-border e-commerce, digital payments, and cloud-based enterprise solutions. I firmly believe SCO member countries can help Pakistan unlock new opportunities for technology transfer, market expansion, and investment,” Malik concluded. Ahmed, the industrialist, echoed similar sentiments. “The SCO is a strategic platform for Pakistan to strengthen regional connectivity and economic integration,” he said. He also noted Pakistan’s growing technological capabilities and its potential to become a regional leader in innovative tech solutions.

Credit: INP-WealthPk