Beijing, 21 October 2021 (TDI): A Joint Working Group (JWG) for the IT industry was established at the 10th CPEC Joint Cooperation Committee. The Deputy Director-General of China International Engineering Consulting Cooperation, Du Zhenli said that the Joint Working Group would help increase the cooperation in digital infrastructure and IT.
Du Zhenli is an investment counselor and promotes Chinese investment in Pakistan. He views Pakistan as one of the emerging and fastest growing IT markets in the world. According to the statistics, a rampant increase is predicted in communication services. This Inference is made by looking at the population of Pakistan. Almost 60% of the population is under the age of 30.
According to the China Economic Net (Cen), the Government of Pakistan is actively facilitating the expansion of the telecommunication infrastructure and its popularization. These developments in the telecom sector are also being extended to the rural areas of Pakistan. Pakistan is actively looking to pursue its own information technology. Advancement in Information Technology is probable if Investors help boost Pakistan’s industrial development.
Pakistan has a conducive environment for investors. Over the period of time, Pakistan has reformed its economic base and has inculcated economic liberalization, privatization, and open investment policy. The government of Pakistan has ensured protection of the foreign investment by entering into agreements with almost 40 countries. It has also entered into agreements with almost 50 countries comprising of double taxation avoidance.
These trajectories signify a future boost in the technological infrastructure of Pakistan. The contributions of CPEC in advancing Pakistan’s transport and energy infrastructure is significant. CPEC has largely improved the conditions of transport and energy infrastructure. These advancements have paved a conducive way for foreign investors. Pakistan and China are actively collaborating to assist Pakistan in achieving its milestones.