The investment of large-scale technology companies in Pakistan has highlighted its potential to become the next largest market in Asia.
German broadcaster, Deutsche Welle’s report that it was said, referring to the recent report of the Mac McKenzie and the ecosystem of Pakistan, Pakistan is a growing number of Asia’s fastest-growing economies.
The report said that since 2010, 720 technology-based businesses have been started in Pakistan and 67% of them are still operating successfully.
“For the past few years, Pakistan’s tech ecosystem has been slowly gaining momentum; technology talent is present in this country and it is relatively inexpensive,” said Hina Hussein, founder of London-based communications company The Content Architects.
“This is an ideal situation for founders like me, whose businesses are still in the early stages,” he said.
Business center Karachi is also known as ‘Technology Hub’, which Hina Hussein said, ‘The development of technology market in Karachi reflects the trend found throughout Pakistan.’
“Technology is flourishing in the world but big companies have not yet entered the Pakistani market, some digital companies have received funding at this time,” said Iskandar Pataudi, a technology professional working in the German capital Berlin. When the economy of Pakistan is not good.
“This is because Pakistan is a huge youth market, there are more technology users while 3G and FourG networks are growing,” he said.
He said that in May 2018, Pakistan’s first e-commerce platform, ‘Daraz’, was purchased by China’s Alibaba Group for about $ 20 million, an early indication that something was going to happen since Foreign investment is increasing there.
Iskandar Pataudi said that Egypt’s app-based bus service was founded eleven months ago, that the company had raised $ 1.2 million in funds by August 2019, while American Venture Capital (VC) Group’s company ‘First’ Round Capital is the first company to invest in an Asian country in the past decade.