In a seminar held at the Pakistan Pavilion at Dubai Expo 2020, Secretary Board of Investment (BoI) Pakistan Fareena Mazhar estimated that the Information Technology sector would earn Pakistan $7 billion in the next two to four years.
The Board of Investment (BoI) held an Investment Promotion seminar on Sunday to important attribute foreign investors about Pakistan’s investment policies and prospects. The seminar’s focus was on investment opportunities in Pakistan’s education and innovation technologies sectors.
The secretary told the audience that Pakistan’s Information Technology industry is one of the fastest-growing, generating roughly 1% of the country’s GDP, or $3.5 billion. She went on to say that it has doubled in the last few years and that experts predict it will double again in the next two to four years, to $7 billion.
Speaking with The News, Fareena Mazhar said the government made the income from the IT sector tax-free till 2025, so excellent profit margins and conducive environment for business in Pakistan can be compared with other parts of the world.
“More than 70 investment projects are being shown and displayed in Pakistan Pavilion, Dubai Expo 2020 to attract foreign investment,” she said. Highlighting the current era of business, she said that the world is more focusing on E-commerce and online marketplaces following post Covid-19 and Pakistan’s young talent in the IT sector can be utilized for promoting and establishing businesses. “Pakistan’s IT market is full of qualified people who are equipped to cater to the needs of the market at relatively low costs,” said Fareena Mazhar.
Further elaborating on freelance development, she shared that the country has been ranked at number four for freelance development globally, and digital growth in Pakistan is going through a rapid evolution. She assured that the Government of Pakistan is committed to protecting and encouraging foreign investment and that the Board of Investment will facilitate the investors and help them execute their investments. Many foreign investors and overseas Pakistanis attended the seminar and expressed interest in the existing opportunities in Pakistan.
