Pakistan Becomes First Country to Implement Digital FDI Initiative Under WEF
BAKU, AZERBAIJAN - NOVEMBER 13: Pakistani Prime Minister Shehbaz Sharif delivers a national statement during the high level segment on day three of the UNFCCC COP29 Climate Conference at Baku Stadium on November 13, 2024 in Baku, Azerbaijan. The COP29, which is running from November 11 through 22, is bringing together stakeholders, including international heads of state and other leaders, scientists, environmentalists, indigenous peoples representatives, activists and others to discuss and agree on the implementation of global measures towards mitigating the effects of climate change. According to the United Nations, countries made no progress over the last year in reducing global emissions from the burning of fossil fuels. (Photo by Sean Gallup/Getty Images)
ISLAMABAD: Prime Minister Shehbaz Sharif announced on Saturday that Pakistan has achieved a landmark by becoming the first country to implement the Digital Foreign Direct Investment (FDI) initiative, introduced by the World Economic Forum (WEF) and the Digital Cooperation Organisation (DCO).
In a statement, the prime minister highlighted the Digital FDI initiative as a significant step toward fostering an investment-friendly environment. The project focuses on developing digital infrastructure, promoting digitization, and enhancing the export of digital services, with an emphasis on attracting foreign investments to key sectors.
“This is a major milestone on Pakistan’s journey toward building a vibrant digital economy,” PM Shehbaz said, emphasizing its importance in achieving sustainable progress and economic prosperity. He reiterated the government’s commitment to fostering growth through innovation and technology.
Additionally, PM Shehbaz praised the World Bank for its $20 billion commitment under Pakistan’s first-ever 10-year Country Partnership Framework (CPF). The CPF aligns with the country’s Home Grown Economic Transformation Plan and focuses on six critical areas: child nutrition, quality education, clean energy, climate resilience, inclusive development, and private investment.
The prime minister acknowledged the collaborative efforts of Chief of Army Staff General Asim Munir and other stakeholders who worked tirelessly to secure transformative partnerships like the CPF, underscoring their significance in bolstering Pakistan’s economic resilience and potential.
“This reflects the confidence of international institutions in Pakistan’s ability to thrive and create lasting opportunities for its people,” PM Shehbaz stated in a post on X (formerly Twitter).
