ISLAMABAD, (TDI): Prime Minister Shehbaz Sharif reaffirmed Pakistan’s commitment to fostering a robust digital investment ecosystem as the country became the first to implement the World Economic Forum’s (WEF) Digital Foreign Direct Investment (FDI) Initiative.
Launched in 2022 in collaboration with the Digital Cooperation Organization (DCO), the initiative aims to boost cross-border digital investment in emerging markets. Pakistan volunteered to pilot the program, initiating the Digital FDI-Enabling Project (DEP) to focus on digital infrastructure, adoption, activities, and export services.
A WEF report released Friday highlighted Pakistan’s efforts tailored to its socioeconomic conditions, regulatory environment, and digital landscape. It outlined 55 policy recommendations developed through consultations with government and industry stakeholders, culminating in prioritized actions to strengthen the country’s digital ecosystem.
Prime Minister Sharif lauded the progress on social media, stating, “From expanding revenues to increasing workforce and global exports, Pakistan is scaling new heights in its stride for digital transformation.” He emphasized the government’s commitment to achieving #DigitalProsperity4All.
The DEP involved extensive stakeholder engagement, including workshops and consultations, which provided critical insights into the challenges and opportunities for attracting digital FDI.
The initiative aims to promote a digital-friendly investment climate, enhancing Pakistan’s standing as a destination for global tech investments.
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State Minister for IT Shaza Fatima Khawaja announced plans for a National Digital Commission to digitize governance and the economy. The commission seeks to improve tax collection, streamline inter-ministerial coordination, and eliminate procedural bottlenecks through paperless governance.
Pakistan, a member of the 16-nation DCO, is striving to position itself as a leader in the global digital economy. The DCO, founded in 2020, includes nations such as Saudi Arabia, Qatar, Morocco, and Ghana, representing a $3.5 trillion GDP market of 800 million people, with over 70% under the age of 35.
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Amid ongoing economic challenges, Pakistan’s government has intensified structural reforms to revive its $350 billion economy, leveraging digital transformation as a key driver of growth.
