Is Pakistan becoming the next big market for new technology companies?

Is Pakistan becoming the next big market for new technology companies?

Investment of large-scale technology companies in Pakistan has highlighted its potential to become the next largest market in Asia.

The German broadcaster 'Deutsche Welle' reports, citing the recent report of MacKenzie & Co regarding Pakistan's ecosystem, saying that 'Pakistan is one of the fastest-growing economies in Asia'.

The report said that since 2010, 720 technology-based businesses have been started in Pakistan and 67% of them are still operating successfully.

"For the past few years, Pakistan's tech ecosystem has been slowly gaining momentum; technology talent is present in this country and it is relatively inexpensive," said Hina Hussein, founder of London-based communications company The Content Architects. '

"This is an ideal situation for founders like me, whose businesses are still in the early stages," he said.

The business centre Karachi is also known as 'Technology Hub', which Hina Hussein said, 'The development of technology market in Karachi reflects the trend found throughout Pakistan.'

"Technology is flourishing in the world but big companies have not yet entered the Pakistani market, some digital companies have received funding at this time," said Iskandar Pataudi, a technology professional working in the German capital Berlin. When the economy of Pakistan is not good.

"This is because Pakistan is a huge youth market, there are more technology users while 3G and FourG networks are growing," he said.

He said that in May 2018, Pakistan's first e-commerce platform, 'Daraz', was purchased by China's Alibaba Group for about $ 20 million, an early indication that something was going to happen since Foreign investment is increasing there.

Iskandar Pataudi said that Egypt's app-based bus service was founded eleven months ago, that the company had raised $ 1.2 million in funds by August 2019, while American Venture Capital (VC) Group's company 'First' Round Capital is the first company to invest in an Asian country in the past decade.

It should be noted that making Pakistan 'digital' is one of the priorities of the Pakistan Tehreek-e-Insaf (PTI) government.

The inauguration of the 'Digital Pakistan' program in December is also part of the long-term program, which Tania Eros, head and former executive of Google, said was aimed at enhancing access and connectivity and promoting digital education as well as e-governance. To introduce

Other objectives of the program are to create a business environment that can help new businesses and innovators

Tags

Digital pakistan vision

Related Posts