ISLAMABAD: Prime Minister Shehbaz Sharif said on Thursday Pakistan was aiming to attract $20 billion of investment in the information technology sector by focusing on Gulf states over the next five years.
The government set up a special investment facilitation council (SIFC) in June to address the country’s economic woes by drawing international attention of business opportunities in the fields of agriculture, mining and IT.
The initiative was primarily noticed due to the council’s composition which also included Pakistan’s powerful army chief.
The prime minister announced the country’s investment goal while addressing the National Information Technology seminar which also included the soft launch of various IT projects in Islamabad.
“Our next target is to get $20 billion investment in IT and increase its exports in the next five years,” he said. “Our brothers in Gulf countries are more than willing to invest in the IT sector of Pakistan.”
Sharif said the Gulf states were ready to offer more employment opportunities to young Pakistanis and were interested in increased IT production.
“There were hurdles and problems for foreign investors to invest in Pakistan, but now, under the SIFC, we are providing one window operation to them and the whole government will provide facilities without any delay,” he added.
Pakistan has 60 percent population between the age of 15 and 30, the PM continued, with many of quite skillful and equipped with quality education.
The country’s IT minister, Syed Amin Ul Haque, also endorsed Sharif’s observation that the Gulf states were taking keen investment interest in Pakistan.
“During the last few years, Pakistani startups have gained a lot of recognition and appreciation throughout the world for their amazing work,” he told Arab News on the sidelines of the seminar.
“I can assure you that Pakistan will receive billions of dollars in investment in the IT sector from Arab countries because we will be facilitating them on every step of the way,” he said.
Haque pointed out Pakistan was also a member of Saudi-led Digital Cooperation Organization and would benefit from opportunities provided by the forum as well.
