Pakistan has made remarkable strides in its digital economy, and the World Economic Forum (WEF) has recently recognized the country for its efforts and innovations. In a significant development, Pakistan became the first country in the world to launch a Digital Foreign Direct Investment Initiative, marking a major step in its ongoing economic transformation.
Pakistan’s progress in digital services is impressive, as shown by its IT exports which reached $3.2 billion in 2024. This growth represents a 24% increase from the previous year, showcasing the country’s rising capabilities in the digital space. Additionally, the Pakistani government has set up 18 Special Technology Zones to attract investment. These zones offer various incentives, such as tax exemptions and duty-free imports, to encourage technological innovation and support the growth of digital industries.
Despite facing some challenges, Pakistani startups have continued to thrive, securing $355 million in funding in 2022. The fintech, edtech, and agritech sectors have been particularly successful, drawing investors’ attention. Furthermore, mobile broadband access in Pakistan has expanded significantly, with over 142 million users and mobile broadband coverage reaching 58.4% in 2024. This is a clear sign that the country is making great progress in ensuring digital inclusion for its population.
The WEF has praised the “Digital Nation Pakistan” initiative, which is a comprehensive plan aimed at driving economic growth, boosting exports, and improving governance. The initiative also focuses on enhancing investor confidence in the country through reforms like spectrum auctions and the Ease of Doing Business Act.
As Pakistan continues its digital transformation, the WEF has recommended strengthening intellectual property laws, speeding up spectrum auctions, and improving digital infrastructure in underserved areas. The entry of global giants such as Amazon and Google into Pakistan is a testament to the growing trust in the country’s digital ecosystem.
Read Also: PIA Resumes Direct Flights to Paris After 4 Years!
