ISLAMABAD: A recently held Pakistan-US Tech Investment Conference in California yielded initial commitments of over $20 million by US-based companies led by Pakistani American entrepreneurs, state-run Associated Press of Pakistan (APP) reported this week, describing the development as a “pivotal moment” for the country’s information technology sector.
The event was inaugurated by Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh on Sunday and was organized by the Pakistani Consulate in Los Angeles. It was supported by Pakistan’s Ministry of IT & Telecom, Ministry of Commerce, Pakistan Software Export Board (PSEB) and the Trade Development Authority of Pakistan (TDAP).
The conference was held at Stanford University and drew a broad range of participants, including IT firms, venture capitalists, tech professionals and prominent members of the Pakistani diaspora, the APP reported. Government officials and journalists were also in attendance.
“A Pakistan-US Tech Investment Conference, held in California, on Sunday, marked a pivotal moment for Pakistan’s IT sector with an initial commitment of over $20 million by American companies led by Pakistani-American entrepreneurs,” APP reported on Monday.
Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh speaks during Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)
Pakistan’s IT Minister Shaza Fatima Khawaja reiterated the government’s unwavering commitment to advancing the IT sector and achieving an ambitious $25 billion export target during her keynote address. She highlighted strategic initiatives fostering an investor-friendly environment, urging the Pakistani diaspora to seize these opportunities, the state-run media said.
“Ms. Khawaja said Pakistan’s IT sector was thriving, with exports already exceeding $3 billion,” APP said. “She noted that the government remained fully committed to supporting the IT industry, fostering innovation, and ensuring that the momentum continues to fuel both technological and economic progress.”
Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh (3L), sitting with Pakistan-American investors, speaks during a press briefing at the Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)
The conference featured projects in diverse areas including artificial intelligence, fintech, health tech, e-commerce and software development. These initiatives were aimed at generating employment, attracting foreign investment and seamlessly integrating Pakistan’s IT landscape into the global market.
Sheikh urged American businesses to explore Pakistan’s vibrant market and called on the Pakistani-American tech community to act as a bridge for deeper economic collaboration between the two countries. He also addressed common misconceptions, reaffirming Pakistan’s reputation as a flourishing investment destination which he said was also being recognized at the global level.
The PSEB delegation, led by its chief executive officer, included 11 Pakistani startups. A representative from the US State Department’s economic team for Pakistan also attended the event, reinforcing bilateral support from Washington, the state media said.
Participants gesture for a group photo with Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh during Pakistan-US Tech Investment Conference in California on November 11, 2024. (Photo courtesy: Pakistan Embassy US)
While Pakistan collaborates with countries such as Saudi Arabia and others in IT frequently, its IT exports face significant challenges due to Internet connectivity issues stemming from firewall installations to regulate content and social media platforms. This hinders local tech firms’ ability to communicate with international clients and results in delayed deliveries, loss of business opportunities and a tarnished reputation for Pakistan’s IT industry, ultimately stifling growth and costing millions of rupees in losses.
