Country encourages foreign companies’ investment in fast-growing IT sector: President

Business Jan, 5 2023
Country encourages foreign companies’ investment in fast-growing IT sector: President
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ISLAMABAD: President Dr Arif Alvi said that Digital Transformation was at heart of country’s vision to create conducive environment for technology development and growth.

Talking to delegation of DigitalOcean, led by its CEO Yancy Spruill who called on him said conducive environment would include inviting and facilitating foreign investment in IT sector and transforming youth bulge into Information technology-savvy human resource for large-scale entry of country into fast-growing international IT market.

He said this would help in building Pakistan’s image, harnessing its business potential and promoting export of country’s IT services and products around world.

President Alvi said that high level of commitment, taking right decisions at right time and implementing policies and decisions on timeline basis was needed both at federal and provincial levels to create well-integrated and functional IT ecosystem in Pakistan.

This would help fully capitalising vibrancy of youth, improve Pakistan’s IT exports by further improving investment climate and imparting speedy but quality IT computer programming, artificial intelligence and computing skills to huge youth bulge which was already contributing to growth and progress of IT sector in Pakistan.

He urged need for bureaucracy to assist all investors including foreign established and well-reputed IT firms and companies, keep their doors open, welcome investors warmly, help them complete their procedural requirements on timeline basis and resolve their issues with due diligence on top priority basis.

President Alvi said that government was focusing to review entire education system of country to transform it from non-market to market-oriented system by imparting market-oriented knowledge, techniques and skills to graduates to enable them to be readily absorbed in market and play their role in development of country.

He appreciated DigitalOcean for investing in Pakistan by acquiring a Pakistani IT company at $ 350 million, which was largest IT acquisition in history of Pakistan.

He said that DigitalOcean’s slogan “IT for All” would help in large-scale entry of Pakistan’s youth into fast-growing international IT market, besides helping build Pakistan’s image, harnessing its business potential and promoting export of country’s IT services and products around world.

CEO of DigitalOcean Yancey Spruill briefed President about DigitalOcean, its growth strategy in Pakistan, future investments and tripling its business size in Karachi. Delegation exchanged ideas on areas of social impact that company should especially focus on in Pakistan.

Published in The Daily National Courier, January, 05 2023

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