Exponential growth of startups & tech sector in Pakistan has created huge economic opportunities: Masood Khan

WASHINGTON, July 17 (SABAH): Urging Pakistani-American entrepreneurs based in United States to take advantage of existing economic opportunities in Pakistan’s economy, a growing middle class and business friendly policies of the government, Pakistan’s Ambassador to the United States Sardar Muhammad Masood Khan has said that exponential growth of startups and tech sector in Pakistan has created huge economic opportunities and the country was mature for attracting investment, says a press release received here today from Atlantic City.

Ambassador Sardar Muhammad Masood Khan was addressing a symposium on “Healthcare Entrepreneurship Landscape in Pakistan”, held on the occasion of APPNA’s 45th Annual Summer Convention in Atlantic City. He said that Pakistani-American entrepreneurs have emerged as the key stakeholder in Pak-US economic partnership and to realize the vision of an economically strong Pakistan. “Your success stories serve as a catalyst for promoting the entrepreneurial drive and competitive spirit among aspiring entrepreneurs in Pakistan and to further strengthen Pakistan-US partnership”, continued the Ambassador.

Association of Physicians of Pakistani Descent of North America (APPNA) is the largest medical association in the United States. The symposium was organized by APPNA’s Committee on Medical Education, Research and Information Technology Transfer (MERIT) and OPEN Global (Organization of Pakistani Entrepreneurs). Highlighting huge successes achieved by the startups in Pakistan, Ambassador said that Pakistani startups have attracted an investment of more than US$ 800 million in last 18 months. International investors were being attracted to Pakistani startups. There are 3720 startups in Pakistan and out of those, 356 are Health Tech startups. The Ambassador said that health tech startups were reversing the current model of hospital centered healthcare delivery by bringing healthcare to the patients at their point of need using a “patient centered” approach.

He said that the government was committed to facilitate startups and new businesses in Pakistan. He said that simplification of tax regime, incentives for new businesses, establishment of Special Economic Zones (SEZs), liberalization of visa regime demonstrate Pakistan’s keenness to become an attractive destination for investment.

Discussing challenges created by COVID pandemic to the healthcare sector across the globe, the Ambassador thanked the US government for provision of 62 million COVID vaccine and said that pandemic was a reminder to prepare ourselves for future challenges of similar nature. He urged physicians and investors to invest their excess capacity in Pakistan in health care sector to reap the benefits of existing opportunities available in the healthcare sector. The participants interacted with the Ambassador and asked questions about existing investment opportunities and the facilitation being extended to the potential investors.