ISLAMABAD: Pakistan’s State Minister for IT and Telecommunications Shaza Fatima Khawaja arrived in China on Monday to attend the “Global Digital Economy Conference,” state-run media reported, as Islamabad hopes to attract foreign investment in its priority sectors and modernize its economy amid efforts to ward off a macroeconomic crisis.
The Global Digital Economy Conference 2024 is scheduled to be held from July 2-5 at the China National Convention Center in Beijing. This conference aims to build a platform for cooperation and communication in terms of the global digital economy, and jointly promote prosperity and development of the global digital economy with all attendees, China’s government said on its official website.
“The Minister of State will visit booths of Pakistani tech companies and meet their representatives,” state broadcaster Radio Pakistan reported. “She will also attend ‘Euro Asia Pakistan Digital Economy Forum’ and participate in the panel discussions.”
Radio Pakistan said Khawaja will also hold meetings with “important figures” related to the information and communication technology sector during her trip. China is a major ally and investor in Pakistan, investing over $65 billion in energy and infrastructure projects in the South Asian country as part of the China-Pakistan Economic Corridor (CPEC), a key element of its Belt and Road initiative. This will connect China to the Arabian Sea and help modernize Pakistan’s economy through a network of roads, railways, pipelines, and ports.
Prime Minister Shehbaz Sharif visited China on a five-day official trip with a high-level delegation in June during which both countries signed several agreements to bolster trade and investment in agriculture, economy, IT and other sectors.
Pakistan has been trying to navigate a prolonged economic crisis by actively pursuing foreign investments and enhanced trade opportunities, while also seeking yet another International Monetary Fund (IMF) bailout to keep economic reforms on track.
Islamabad established the Special Investment Facilitation Council (SIFC), a civil-military hybrid forum, in June 2023 to attract foreign funding in agriculture, mining, information technology, defense production and energy.
