World Economic Forum Acknowledges Pakistan’s Digital Economy Progress

The World Economic Forum (WEF) has highlighted Pakistan’s significant achievements in the digital economy, positioning the country as a leader in innovative reforms. Pakistan has become the first nation to implement a Digital Foreign Direct Investment Initiative, marking a pivotal step in its economic transformation. In 2024, Pakistan’s IT exports reached $3.2 billion, reflecting a remarkable 24% annual growth. This increase underscores the country’s expanding capacity in digital services. The government has also set up 18 Special Technology Zones, which provide tax exemptions, duty-free imports, and foreign exchange account facilities to attract investment and foster technological innovation. Startups in Pakistan, despite recent challenges, secured $355 million in funding in 2022, with fintech, edtech, and agritech as dominant sectors. Mobile broadband access expanded to 58.4% in 2024, with over 142 million users, demonstrating significant strides in digital inclusion. WEF commended Digital Nation Pakistan, a comprehensive plan focusing on economic growth, exports, and governance. It also recognized efforts to boost investor confidence through initiatives like spectrum reforms and the Ease of Doing Business Act. To sustain progress, WEF recommended strengthening intellectual property laws, accelerating spectrum auctions, and enhancing digital infrastructure in underserved regions. The entry of global giants like Amazon and Google into Pakistan reflects growing trust in its digital ecosystem.