ISLAMABAD: Pakistan and China want to initiate various development projects relevant to the competitive digital economy under the China-Pakistan Economic Corridor (CPEC) Phase-II.
Both countries explored future ventures in digital economy transformation under the CPEC, recognising Pakistan's significant potential for growth in this sector.
For this purpose, the Chinese company Huawei wants to collaborate with Pakistan in the field of digital economy. Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices.
A delegation of Huawei Pakistan led by Ethan Sun, CEO Huawei Pakistan; Ahmed Bilal Masood, Director Subsidiary Board and Deputy CEO; Yushaoning, Vice CEO; and Ahmad Mehboob, Senior Manager Government Affairs called on Planning Minister Professor Ahsan Iqbal in his office on Friday.
“Pakistanis are the second biggest nationality employed in Huawei,” stated the delegation to highlight Pakistan’s potential to emerge as a key player in the competitive digital economy.
It is projected that developed economies will witness a significant surge in their Gross Domestic Product (GDP) stemming from digital advancements. According to leading experts, more than 30 per cent of the GDP of developed nations is expected to be driven by digital innovation and infrastructure by the coming decade, as expressed by CEO Huawei Pakistan.
Federal Minister for Planning Iqbal said that as Pakistan’s digital landscape is evolving rapidly, both parties shared views on the requirements for fostering a conducive environment for sustainable growth. “Four key pillars were identified for establishing a robust digital corridor: connectivity, data centers, firewall protection, and smart governance. These elements are essential to fueling economic growth and ensuring global competitiveness in the digital age,” the minister stated.
The minister stressed establishing a Digital Corridor, acknowledging Pakistan's role as a prime ground for digital economic expansion.
Moreover, Ahmed Bilal Masood, Deputy CEO Huawei Pakistan assured Pakistan can become a big trading zone for the large user-base of Middle Eastern countries.
Emphasizing the pivotal role of digital advancement in shaping the future of Pakistan’s economy, the minister asserted, "The only path to sustained economic progress for our nation is through comprehensive digital transformation. Embracing digital technologies and infrastructure is not just an option; it's a necessity if we are to thrive in the global marketplace."
Moreover, notable investments are already underway to bolster the digital infrastructure and technological capabilities of Pakistan. The establishment of a Huawei manufacturing setup in Pakistan was also discussed. It will not only foster employment opportunities but also facilitate a reduction in smartphone prices.
The planning minister proposed to initiate Islamabad as a model smart city, emphasizing the importance of digital infrastructure provision for the new age economy. He highlighted the establishment of an Innovation Center at UET Narowal, inviting Huawei to be a technology partner in this endeavour.
Ethan Sun expressed Huawei's keen interest in collaborating with Pakistan on the proposed initiatives, reaffirming Huawei's dedication to fostering technological innovation and economic growth in Pakistan.
Copyright Business Recorder, 2024