Pakistan Leads Digital Investment with Pioneering Initiative

Islamabad: Pakistan has become the first nation to implement the Digital Foreign Direct Investment (FDI) Initiative, spearheaded by the World Economic Forum and the Digital Cooperation Organization in 2022. This move signals the launch of Pakistan’s Digital FDI-Enabling Project, aimed at boosting cross-border investments in the digital economy, especially in emerging markets.

According to a statement by Press Information Department, the initiative is structured around four key pillars defined by the World Economic Forum’s Digital FDI framework: digital infrastructure, digital adoption, new digital activities, and digital services exports. Each pillar addresses essential growth areas crucial for attracting and sustaining digital FDI in Pakistan.

The project, in partnership with the Ministry of Information Technology and Telecommunications and the Board of Investment, has outlined six priority actions. These actions include promoting private-sector projects to connect local players with international investors, encouraging partnerships between domestic and global stakeholders, and enhancing government support for enabling infrastructure.

Additional efforts will focus on building capacity for adopting new digital technologies among local businesses, accelerating export growth through digital services, and fostering innovation by supporting new digital activities and startups.

Shaza Fatima Khawaja, Minister for IT at the Ministry of Information Technology and Telecommunications, emphasized the transformative potential of this initiative. She stated that the initiative aims to position Pakistan as a regional leader in digital transformation by fostering robust digital infrastructure, encouraging technology adoption, and supporting innovation.

This strategic move is anticipated to unlock Pakistan’s potential to draw significant foreign investment, driving economic growth and establishing the country as a leader in digital transformation in the region.

The post Pakistan Leads Digital Investment with Pioneering Initiative appeared first on pakistannewsgazette.com.

The post Pakistan Leads Digital Investment with Pioneering Initiative appeared first on AsiaNet-Pakistan.