China’s key role in Pakistan’s digital transformation: FinMin stated during an interview.
Federal Minister of Finance and Revenue Muhammad Aurangzeb highlighted China’s pivotal role in advancing Pakistan’s digital transformation, a critical step for the country’s sustainable economic growth. He noted that Pakistan, with the world’s third-largest freelancer population, is well-positioned to contribute significantly to its future economy.
Speaking at the World Economic Forum, Aurangzeb described the strong and enduring partnership between Pakistan and China. In an interview with China Global Television Network (CGTN), he emphasized China’s vital contributions to developing Pakistan’s digital infrastructure, according to a press release issued Friday.
Aurangzeb pointed out that the second phase of the China-Pakistan Economic Corridor (CPEC) would focus on transferring Chinese industries to Pakistan to stimulate economic growth and boost export-led development. The ultimate goal is to transform Pakistan into an export hub for Chinese industries while enhancing its role in the global economy.
China has consistently supported Pakistan in fields such as artificial intelligence (AI), technology development, financial assistance, and the transfer of knowledge and technology, the minister added. He stressed the importance of continued collaboration, especially through CPEC, and highlighted the potential impact of China’s economic growth in 2024 on their partnership.
Praising China’s leadership, Aurangzeb stated that the mutual business partnerships forged with China would yield significant results in the second phase of CPEC. He also revealed plans to introduce the Panda Bond, a step toward accessing China’s vast capital market.
The minister expressed pride in launching Pakistan’s first Foreign Direct Investment (FDI) Digital Initiative, aiming to advance the country’s IT sector by leveraging China’s expertise. He described this development as a milestone in establishing digital infrastructure, special technology zones, fintech opportunities, and AI data centers in Pakistan.
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