Tech
European Companies Eye Pakistan IT Sector
In a significant development, European companies have expressed interest in investing in Pakistan IT sector, due to the effective strategy of the Special Investment Facilitation Council (SIFC).
Startups graduated from the National Incubation Centers established under the SIFC have attracted foreign IT companies, paving the way for potential investment inflows.
A European software company has planned to establish a data center in Karachi, while Czech Republic’s software company IceWarp has partnered with Pakistan’s software company Hexalyze to set up a data center in the city.
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This investment is expected to save up to 60 percent in software and cyber security services for various industries, financial institutions, small and medium enterprises, and startups.
According to the US web portal Microsoft Network, the SIFC’s tireless efforts and strong networking of National Incubation Centers have regained foreign companies’ confidence in Pakistan’s IT and other sectors.
Foreign companies are gradually moving their businesses to Pakistan due to the growing capacity, trained youth, and emerging opportunities.
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IceWarp’s Global Chief Sales, Jan Urbik, praised Pakistan’s potential for digital transformation, stating that the company will support the Pakistan IT mission by providing affordable solutions.
This development is a testament to the SIFC’s effective strategy and the potential of Pakistan’s IT sector.
As more foreign companies invest in Pakistan, the country is likely to witness significant economic growth and development.
