Ambassador Masood Khan has said that the time is ripe for strengtheningtech bonds between Pakistan and the United States.
“The US is ready to help and we are ready to join the IT revolution byintegrating and absorbing innovations in US technologies.”
The Ambassador was addressing Pakistan Tech Summit 2022 – Silicon ValleyUSA. He said that the Summit provides business leaders, tech entrepreneursand technology experts from Pakistan a platform to come together and formsynergies, build bridges between Silicon Valley and the Pakistani startupecosystem and join hands for a bright future of Pakistan. “You are alreadyon a roll”, he said.
Ambassador Masood Khan observed that more than 64% population of thecountry is below the age of 30 years and a growing middle class wasexpected to cross the 100 million marks soon. This youth bulge combinedwith the growing middle class promised bright prospects for the growth ofIT sector in the country. In the past 18 months, tech startups in Pakistanhave earned half a billion dollars mainly supported from the United States.He said that the sector was poised to generate tens of billions of dollarswithin the current decade.
Mr. Khan said that the Government of Pakistan will continue to take stepsto create a hospitable environment for tech industry. He said thatregulations were being made business friendly, ease of doing business was apriority and incentives were being given to venture capitalists.
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Recounting various incentives being offered to promote tech sector, theAmbassador said that investors were being facilitated to repatriate theirfunds; legislation was afoot on data protection and issues related tointellectual property were being addressed. “We are planning to open aconsulate general in the Bay Area to link Silicon Valley with Pakistan tospur and support growth of startups in Pakistan”, assured the Ambassador.
He encouraged participants to share the outcome of their deliberationsduring the summit and to identify the areas where the government andembassy’s intercession could help.
