President emphasizes need to facilitate foreign investors in ICT sector

March 11, 2022: President Dr Arif Alvi has underscored the need for facilitating foreign investors to invest in the country’s ICT sector which had a huge potential to grow in view of the incentives being provided by the government, said a press release issued on Friday.

He encouraged the relevant stakeholders to facilitate Pakistan origin IT experts, based in Silicon Valley, USA, who wanted to establish IT companies in Pakistan. The President made these remarks while chairing a meeting on engaging Pakistani American Diaspora in the ICT sector, at Aiwan-e-Sadr.

The participants of the meeting were briefed about the progress on the development of the Pakistan National Semiconductor Plan (PNSP). It was informed that measures had been taken to train human resources in the field of semiconductors which has great scope and potential for growth and investment.

The participants were also briefed on the electric vehicle batteries manufacturing project, the establishment of Outsourced Semiconductor Assembly Test (OSAT) and related industries.

Addressing the meeting, the President highlighted that the IT industry is growing exponentially and Pakistan needed to focus on training and skill development of its human resources in the ICT sector to meet the requirements of the 4th Industrial Revolution as well as earn foreign exchange.

He also underlined the need to take measures for attracting Venture Capital and Private Equity Funds that would help accelerate the economic development of the country. The President assured the USA based IT experts of his cooperation in facilitating investments for the country’s ICT sector.

Press Release