Pakistan-US Tech Investment Conference at Stanford a Catalyst for American IT Investments in Pakistan
By Elaine Pasquini
San Francisco: Ambassador Rizwan Saeed Sheikh inaugurated the Pakistan-US Tech Investment Conference on November 10, 2024, marking a pivotal moment for Pakistan's IT sector with an initial commitment of over $20 million by American companies led by Pakistani-American entrepreneurs.
Held at Stanford University, the event, steered by Asim Ali Khan, Consul General of Pakistan in Los Angeles, was supported by the Ministry of IT & Telecom, Ministry of Commerce, Pakistan Software Export Board (PSEB), and Trade Development Authority of Pakistan (TDAP). Local partners included OPEN-SV and the Pakistan-American Tech Council (PTC) based in California.
In her keynote address, the Minister of State for IT and Telecommunication, Ms Shaza Fatima Khawaja, reiterated the government’s unwavering commitment to advancing the IT sector and achieving an ambitious $25 billion export target. She highlighted strategic initiatives fostering an investor-friendly environment, urging the diaspora to seize these opportunities. She said that Pakistan’s IT sector was thriving, with exports already exceeding $3 billion.
Ambassador Sheikh highlighted Pakistan’s geo-strategic environment, emphasizing its cost-effectiveness and competitive quality in the IT sector. He underscored the nation's youthful, skilled, and resilient population as a vital driver of growth, supported by government policies designed to harness this demographic dividend and transform it into a sustainable economic asset. The ambassador invited American businesses to explore Pakistan’s vibrant market and called on the diaspora tech community to act as a bridge for deeper economic collaboration. He also addressed common misconceptions and reaffirmed Pakistan’s reputation as a flourishing global investment destination.
The PSEB delegation included 11 innovative Pakistani startups, showcasing the sector’s growing technical capabilities. A representative from the US State Department's economic team for Pakistan also graced the event, reinforcing bilateral support.
The conference featured an array of projects in diverse areas including Artificial Intelligence, FinTech, Health Tech, E-Commerce, and software development. Delegates commended the government’s robust approach in driving innovation and underlined the conference as a testament to the effectiveness of Pakistan’s economic diplomacy.
Prominent speakers included the CEO of PSEB, the President of OPEN-GLOBAL, and key representatives from emerging startups. Central Business District (CBD) Punjab presented its advanced IT infrastructure initiatives, appealing to US investors. A senior Google executive also contributed insights.
At the event the ambassador unveiled the "Digital Trinity" concept, proposing a synergistic partnership leveraging US technology, Saudi investment, and Pakistan’s skilled workforce in the IT sector to achieve shared growth.
During his time in Northern California, Ambassador Sheikh also conducted a series of public engagements aimed at reinforcing constructive ties between Pakistan and its vibrant diaspora on the US West Coast.
The ambassador delivered a talk on Pakistan-US relations and the role of the Pakistani diaspora at the Department of Ethnic Studies, University of California, Berkeley. The event, moderated by Professor Hatem Bazian, drew a large audience of faculty members and students. The highly anticipated program provided an opportunity for an open dialogue on the evolving relationship between Pakistan and the United States, with a focus on the role of the Pakistani-American community in shaping bilateral ties.
“The role of the Pakistani-American community is vital in enhancing people-to-people connections and promoting educational, economic, and cultural exchanges,” Ambassador Sheikh said. In addition, he noted that the community, with its strong roots in both countries, is uniquely positioned to further strengthen friendly relations between the two nations.
In San Jose, the ambassador addressed a gathering of the Pakistani-American community at the prestigious Capital Club. Organized by Friends of Pakistan (FOP), a non-profit organization headquartered in Southern California with multiple chapters along the U.S. West Coast, the event underscored the Embassy’s and Consulate General's dedication to community engagement. Attendees praised the Embassy’s outreach efforts in fostering stronger ties and mutual support.
The evening’s program featured inspiring speeches from distinguished figures, including Ambassador Rizwan Saeed Sheikh, FOP Chairman Arif Zaffar Mansuri, FOP President Jamal Khawaja, Zain Jeewanjee, and Consul General Asim Ali Khan. Prominent community leaders and several FOP Board Members, including FOP Sacramento Chapter Head Waqar Khan, Kamal Zafar, Afia Hassan, Syed Ashraf Ali, and Shak Khan, were also in attendance, showcasing the unity and commitment of the Pakistani-American community. The event’s warm atmosphere, combined with excellent food and meticulous organization, added a special touch to an unforgettable evening.
The same day, Ambassador Sheikh met with key officials from the San Francisco Chamber of Commerce. His comments focused on expanding and deepening Pakistan-US bilateral trade and investment ties. Asim Ali Khan, Pakistan’s consul general in Los Angeles, also joined the talks.
In a visit to Google, Ambassador Sheikh and Consul General Khan shared insights on the positive momentum within Pakistan’s IT industry, along with key government policies and initiatives aimed at integrating Pakistan into the global IT ecosystem, creating employment, and boosting IT exports.
Ambassador Sheikh assured Google of the government of Pakistan’s full support, as well as the backing of its diplomatic missions in the US, to facilitate mutual collaboration. He also requested Google’s assistance in enhancing Pakistan’s branding in the American tech market and emphasized the need to implement a roadmap for deepening bilateral cooperation. Interactive discussions focused on Google’s ongoing initiatives in Pakistan.
During a tour of the BioDesign Lab at Stanford University, the ambassador explored collaborative opportunities to strengthen Pakistan’s healthcare system. While at the university, he also met with Pakistani students, commending their talent and potential to serve their country.
At the Annual Forum of the Organization of Pakistani Entrepreneurs (OPEN) Silicon Valley, the ambassador outlined Pakistan’s ambitious IT growth targets, aiming to increase IT and IT-enabled services (ITES) exports to $15 billion by 2029 and $30 billion by 2030. He highlighted the thriving freelancer ecosystem, comprising the world’s second largest active professionals, which places Pakistan among the top global providers of freelance services.
Throughout his engagements, the ambassador encouraged US-based investors and entrepreneurs of Pakistani origin to explore Pakistan as an investment destination. He emphasized the long-standing Pakistan-US bilateral relationship which has a strong foundation for expanding economic ties. By leveraging these historic connections, he urged the diaspora and business leaders to contribute to Pakistan’s economic progress and technological advancement.
Ambassador Sheikh also spoke about the challenges posed by the complex geopolitical dynamics in South Asia but emphasized that technological advancements, especially in fields like AI, can serve as equalizers. He expressed confidence that these technologies could uplift millions of lives, bridge socio-economic gaps and drive inclusive growth in Pakistan.
Pakistan, being a resilient nation, would overcome all challenges, the ambassador averred.
(Elaine Pasquini is a freelance journalist. Her reports appear in the Washington Report on Middle East Affairs and Nuze.Ink.)
