Pakistan’s IT industry has gained limelight as it foreign investors are seeking healthy opportunity to work with local software houses and service providers as shown by the substantial inflow of foreign investment in the country.
State Bank of Pakistan (SBP) statistics said the Foreign Direct Investment (FDI) in the IT sector witnessed growth of 120 percent, attracting capital of US $ 9.4 million in the first fourth months of the fiscal year 2011-12 compared with corresponding period of previous year.
The FDI inflows were recorded in software development with US $6.5 million; IT services with US $ 1.8 million and hardware services with US $ 1.1 million respectively.
Industry people said that global companies are seeking joint-ventures with local firms or planning to set up their outlets for exploiting talents of the local industry in different fields.
Foreign companies having offices in Pakistan are trying to scale up their business with expansion of their networks and production volume, they said. Hence, the FDI witnessed handsome growth in the current fiscal year and a business volume has been increasing with number of employment in the IT sector.
News Details: ProPakistani
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