Pakistani IT firms eye up to $500 million investment at major tech show in Dubai this month

ISLAMABAD: Pakistani information technology (IT) service providers, startups and exporters expect to generate up to $500 million investment by showcasing their tech potential at the Gulf Information Technology Exhibition (GITEX) 2024, scheduled to be held in Dubai on October 14-18, industry stakeholders and officials said on Thursday.
The annual GITEX Global exhibition is considered one of the world’s largest tech shows that connects industry leaders with major tech and innovation startups as well as government officials, expert investors and corporate buyers.
Sajjad Mustafa Syed, chairman of the Pakistan Software Houses Association (P@SHA), said Pakistan had been declared 2024 event’s “Tech Destination of the Year” following the participation of Pakistani IT firms in the previous GITEX editions.
“There will be representation of IT sector of 180 countries, more than 200,000 sizeable trade buyers of IT services, 65,000 top-level IT executives from world over and 7,000 multinational companies of IT and allied industries [in this month’s GITEX Global tech show],” he said in a statement.
“We are expecting to generate leads of up to $500 million for the country.”
Prominent Pakistani exhibitors and delegates that will be participating in the exhibition include Quixas Technology Pvt Ltd, Wateen Solutions, AutoSoft Dynamics, KODERLABS, Dynamics 360, Creation Next and Bits Collision, according to P@SHA Secretary-General Nadeem Malik.
Pakistan’s State Minister for IT Shaza Fatima Khawaja said the development highlighted Pakistan’s commitment to innovation, technology and global collaboration.
“We look forward to showcasing Pakistan’s brilliant tech talent and tremendous potential on this prestigious platform,” she was quoted as saying by P@SHA.
Muhammad Umair Nizam, senior vice chairman of P@SHA, stressed that innovation, entrepreneurship and inclusion were the keys to rapid growth in IT and IT-enabled Services (ITeS) industry and the Pakistani IT industry was having a number of “firsts and pluses.”
“[It is the] only major industry in Pakistan having a trade surplus and that too with a margin of 77 percent,” he said. “[The Pakistani IT industry] has the capability to earn foreign exchange to the tune of $5 billion in FY25 [Fiscal Year 2024-25].”
Nizam said the IT industry could bridge Pakistan’s overall trade deficit and stabilize the economy through exponential growth, curtailed volatility in rupee-dollar parity, building foreign exchange reserves and creating employment opportunities.