Pakistan fast moving to become next tech hub of region: Masood

Washington: Pakistan’s Ambassador to the United States Masood Khan says our country is fast moving to become the next tech hub of the region.

He made these remarks while talking to the US business leaders, entrepreneurs, bankers and professionals, in Los Angeles.

The Ambassador highlighted that there had been exponential growth in Pakistan’s tech industry in past few years.

He said our economy is being digitized and we have unleashed a series of reforms not only to facilitate businesses but also to make them hugely profitable.

Talking to President Los Angeles (LA) Area Chambers Ms. Maria S. Salinas, Masood Khan said Pakistan is already hosting some eighty American enterprises and they find country’s market rewarding.

He said we want US companies to scale up their investments in Pakistan.

Highlighting multi-billions Gulf investment in Pakistan, the Ambassador invited US business community to join hands with Gulf nations and form trilateral partnership for fully reaping dividends being offered by Pak economy.

Inviting the President LA Area Chambers of Commerce to visit Pakistan and also to encourage US business leaders, he observed that positive perception after their visit would build confidence.

He also proposed sister city partnership between Los Angeles and Karachi to provide a framework for enhanced economic interactions.

Highlighting presence of 150,000 Pakistani American community in LA, Masood Khan observed that it was a strong foundation to further build on bilateral relations.

The two sides agreed to work closely towards industry specific cooperation to enhance trade and business interactions.

Meanwhile, during meeting with Board members and entrepreneurs from the Pakistan American Chamber of Commerce (PACC) led by Chairman PACC, Waqar Ali Khan, Ambassador Masood Khan highlighted the role of Pakistani American businessmen and investors in various sectors including hospitality, hotels, hospitals, telephony, medical transcription and billing, diagnostics, fin-tech, health tech, and telemedicine.

He said Pakistan values the contribution of the one million-strong Pakistani American community, which is a bridge between the two countries. They have invested heavily in Pakistan in various businesses and sectors and can help foster more collaboration and partnership.

During his interaction with Pak-American and US business leaders, entrepreneurs, bankers, professionals, and officials at the Consulate General of Pakistan in Los Angeles, Masood Khan reiterated that relationship between Pakistan and United States had resilient foundations.

The Ambassador said we want to scale up our trade and investment ties besides our ongoing cooperation in security and counter-terrorism.

He said we are in dialogue processes with the United States on climate change, renewable and green energy, healthcare, education and technology. These are our priority areas.

Masood Khan said that international financial institutions including IMF were supportive of Pakistan’s economic reform agenda and the new government has owned reform package being pursued by the interim government.

The Ambassador called upon the US enterprises to diversify their product lines so that they could export their products to gulf and other regions.

During his series of meetings, he highlighted the role that SIFC was playing to facilitate business community, spark investments and promote economic growth. He said Government of Pakistan has prioritized IT, agriculture, energy and extractive industry and every possible facilitation was being provided to the investors in those areas.

Addressing a large gathering of Pakistani Americans in California, organized by Friends of Pakistan (FOP) President Jamal Khawaja, Chairman Arif Mansuri and Board FOP, the Ambassador thanked FOP for its hospitality and organizing the meeting. He said that he was delighted to see exemplary spirit of unity & harmony among diaspora and their passion and commitment for Pakistan, the U.S. and Pak-US relations.