Federal Minister for IT & Telecom Syed Amin-Ul-Haque has said that $355 million investment was mad under Start-ups echo system in year 2022.
To facilitate startup ecosystem, we have drafted policy recommendations for State Bank, SECP, FBR, and Intellectual property Organizations.
These recommendations will ease up the regulatory processes for startup ecosystem. Ignite is also developing a startup portal which will help investors to review startups under different sectors or thematic areas. And eventually this will help investors do their shopping.
Secondly startup can also interact with investors and pitch their proposals through that portal. So it’s a business matchmaking portal which will help startups and investors to build a relationship.
He was addressing the Investment Conference as Chief Guest in local Hotel organized by USAID and Organization of Pakistani Entrepreneurs (OPEN) Silicone Valley.
The conference’s primary focus was to discuss the global investment climate, as well as the challenges and opportunities present in Pakistan’s investment landscape and how we as foreign investors, can increase investment in Pakistan.
The Organization of Pakistani Entrepreneurs (OPEN) is a network of thousands of Pakistani entrepreneurs and professionals all around the world, working and leading some of the most innovative companies of our time.
OPEN Charter members have a net worth of over $2 billion and have had exits of more than $12 billion.
Federal IT Minister appreciated the efforts made by Mr. Junaid Qureshi of OPEN Silicon Valley and USAID of doing a roadshow around Pakistan to promote US investment in Pakistan. He welcomes entrepreneurs and usiness people to Pakistan from the US to bring their investments.
He said Ministry of IT & Telecom efforts in last four years made Pakistan a Paradise of Investment in IT & Telecom Sector.
“On my recommendation Government of Pakistan offered various facilities and relief to both the Industry, recently, Finance Minister officially announced to resolve the main issues facing by IT Industry regarding 35% repatriation of the foreign Exchange and setup FBR special Desk in Islamabad, Karachi & Lahore”, IT Minister added.
He said Eight incubation centers of ignite has created an entrepreneurial vibe in the country which is helping in establishing new startups in almost every sector.
The start-ups of the National Incubation Centers established in the country, received investment of $20 million from various sources last year.Syed Amin-Ul-Haque said under the National Freelance Training Program initiated and funded by Ministry of IT, 20 training centers were established across the country.—NNI