Khalid Alaamer, Policy Analyst, Investment Policy and Practices, World Economic Forum, Umar Nadeem, Partner and Head Advisory, Tabadlab, Hiba Fatima, Senior Associate, Centre for Digital Transformation, Tabadlab and Alina Khan, Analyst, Centre for Digital Transformation, Tabadlab visited OICCI to seek Chamber’s input on the issues and challenges in the flow of Foreign Direct Investment in Digital Sector. This consultative session is under the Digital Foreign Direct Investment (DFDI) Initiative launched by World Economic Forum and Digital Cooperation Organization (DCO).

Abdul Aleem, CE/Secretary General OICCI, Kashif Shafi, Executive Director, OICCI, Asad Zaidi, General Manager IT, Pakistan Cables and Lead OICCI Core Group on Artificial Intelligence, Izna Naseem, IT Manager, Proctor and Gamble and Lead OICCI Core Group on Startups and Small IT Companies, and Samra Noori, Head of Marketing, Finca Microfinance Bank and member OICCI IT Subcommittee welcomed the guests and shared OICCI’s point of view on the potential of inflow of Foreign Direct Investment (FDI) in Digital/IT sector and the challenges.

Due to majority of young population, digitization offers a great opportunity for Pakistan to create jobs, earn foreign exchange and increase the productivity. However, as mentioned in OICCI Digital Report 2022, the inconsistency in the policies, lack of ownership, stretched regulatory processes, misalignment between regulatory bodies, and lack of forward-looking approach with technically sound human resources within government bodies and regulators are some of the key challenges that are needed to be addressed to tap the huge potential that Pakistan offers. There should be an independent regulatory body with a long-term national policy with built-in mechanism of periodic reviews and improvement, private sector should be leading on the board that take the ownership of the policy as they have a better understanding of the market needs and focused on delivering the results. The educational institutions should also upgrade their curriculum in the light of feedback from the industry so that the graduates have the necessary set of skills and knowledge.

Concluding the discussion, the delegation appreciated OICCI for the insightful discussion and recommendations. The team will visit again with a structured document to finalize the key action items and then will be helping the government to implement those.