Pakistan's digital growth recognized by WEF

January 20, 2025 (MLN): Pakistan's digital transformation has been recognized by the World Economic Forum (WEF), with IT exports reaching $3.2 billion in 2024, reflecting significant growth in the digital economy.

In addition to strong export performance, Pakistan has established 18 Special Technology Zones and improved broadband access nationwide, according to APP.

The WTF also commended the "Digital Nation Pakistan" initiative, highlighting its crucial role in driving growth and attracting investment in the technology sector.

In 2024, Pakistan’s IT exports reached a 24% annual growth, underscoring the country’s expanding capacity in digital services.

The government has introduced duty-free imports and foreign exchange account facilities to stimulate investment and foster technological innovation.

Despite recent challenges, startups in Pakistan secured $355 million in funding in 2022, with fintech, edtech, and agritech leading the way.

Additionally, mobile broadband access expanded to 58.4% in 2024, reaching over 142mn users and marking significant progress in digital inclusion.

The WEF commended the "Digital Nation Pakistan" initiative, a comprehensive plan aimed at driving economic growth, enhancing exports, and improving governance.

It also recognized efforts to boost investor confidence through key initiatives such as spectrum reforms and the Ease of Doing Business Act.

To sustain progress, the WEF recommended strengthening intellectual property laws, expediting spectrum auctions, and improving digital infrastructure in underserved regions.

The entry of global giants like Amazon and Google into Pakistan further reflects the growing confidence in its digital ecosystem.

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