Pakistani IT service providers, startups, and exporters are anticipating up to $500 million in investment as they showcase their tech potential at the Gulf Information Technology Exhibition (GITEX) 2024, scheduled to take place in Dubai from October 14-18. Industry experts and officials shared this optimistic outlook on Thursday.
GITEX Global is one of the largest tech exhibitions in the world, connecting industry leaders with innovative startups, government officials, investors, and corporate buyers. Sajjad Mustafa Syed, Chairman of the Pakistan Software Houses Association (P@SHA), announced that Pakistan has been named the 2024 event’s “Tech Destination of the Year” due to the strong participation of Pakistani IT firms in previous editions of the exhibition.
“There will be representation from the IT sectors of 180 countries, with over 200,000 trade buyers of IT services, 65,000 top-level IT executives from around the world, and 7,000 multinational companies from IT and allied industries,” Syed said in a statement. He added that Pakistan expects to generate business leads worth up to $500 million at this year’s event.
Prominent Pakistani exhibitors include Quixas Technology Pvt Ltd, Wateen Solutions, AutoSoft Dynamics, KODERLABS, Dynamics 360, Creation Next, and Bits Collision, as confirmed by P@SHA Secretary-General Nadeem Malik.
State Minister for IT, Shaza Fatima Khawaja, emphasized that Pakistan’s participation highlights the country’s dedication to innovation, technology, and global collaboration. “We look forward to showcasing Pakistan’s brilliant tech talent and tremendous potential on this prestigious platform,” she stated.
Muhammad Umair Nizam, Senior Vice Chairman of P@SHA, highlighted the importance of innovation, entrepreneurship, and inclusion for rapid growth in the IT and IT-enabled Services (ITeS) industry. He pointed out that the Pakistani IT industry is one of the few sectors in the country with a trade surplus, boasting a 77 percent margin.
Nizam expressed confidence in the IT industry’s ability to contribute significantly to Pakistan’s economy, with the potential to generate up to $5 billion in foreign exchange by Fiscal Year 2024-25. He added that the sector could help bridge the country’s trade deficit, stabilize the rupee-dollar exchange rate, build foreign exchange reserves, and create new employment opportunities.
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