The Pakistan-US Tech Investment Conference, recently held in California, secured initial commitments of over $20 million from US-based companies, led by Pakistani-American entrepreneurs. This development was hailed as a “pivotal moment” for Pakistan’s IT sector. The event, inaugurated by Pakistan’s Ambassador to the US Rizwan Saeed Sheikh, was organized by the Pakistani Consulate in Los Angeles, with support from Pakistan’s Ministry of IT & Telecom, Ministry of Commerce, Pakistan Software Export Board (PSEB), and the Trade Development Authority of Pakistan (TDAP).
Held at Stanford University, the conference attracted a wide range of participants, including IT firms, venture capitalists, tech professionals, and members of the Pakistani diaspora, along with government officials and journalists.
In her keynote address, Pakistan’s IT Minister Shaza Fatima Khawaja reaffirmed the government’s commitment to advancing the IT sector and achieving a $25 billion export target. She highlighted initiatives designed to create an investor-friendly environment and urged the diaspora to seize new opportunities. She also noted that Pakistan’s IT sector was thriving, with exports exceeding $3 billion, and emphasized the government’s ongoing support to foster innovation and maintain momentum in the sector.
The conference showcased projects in areas like artificial intelligence, fintech, health tech, e-commerce, and software development, all aimed at generating employment, attracting foreign investment, and integrating Pakistan’s IT sector into the global market.
Ambassador Sheikh encouraged American businesses to explore Pakistan’s growing market and urged the Pakistani-American tech community to play a key role in strengthening economic ties between the two nations. He also addressed misconceptions about Pakistan, stressing its recognition as a thriving investment destination.
The PSEB delegation, led by its CEO, included 11 Pakistani startups, while a representative from the US State Department’s economic team for Pakistan also attended, further cementing bilateral support.
Despite frequent collaborations with countries like Saudi Arabia, Pakistan’s IT exports face significant challenges, including internet connectivity issues caused by firewalls regulating content and social media. These barriers hinder local tech firms’ ability to communicate with international clients, leading to delayed deliveries, lost business opportunities, and a tarnished reputation for Pakistan’s IT industry, ultimately stalling growth and resulting in substantial financial losses.
