Latest news with #DigitalFDI
Cision Canada
08-05-2025
- Business
- Cision Canada
Digital Investment Milestone: Pakistan Becomes First to Host DCO's DFDI Forum
The Digital Cooperation Organization (DCO) and the Government of Pakistan successfully conclude inaugural Digital Foreign Direct Investment Forum 2025, convening 700 global leaders. Pakistan launches the first national implementation of the DCO Digital FDI Initiative, with $700M in digital investment to date. Prime Minister Shahbaz Sharif a nd DCO Secretary-General Deemah AlYahya affirm multistakeholder leadership in driving digital transformation, with Pakistan Prime Minister personally recognizing DCO Secretary-General for advancing Pakistan's Digital FDI ecosystem. ISLAMABAD, May 8, 2025 /CNW/ -- The Digital Cooperation Organization (DCO), in partnership with the Government of Pakistan, today celebrated the successful conclusion of the inaugural Digital Foreign Direct Investment Forum 2025 (DFDI) held in Islamabad. The two-day Forum, hosted 29-30 April 2025, served as a strategic platform, convening 700 delegates spanning Heads of State, ministers, global investors, policy makers and tech leaders from DCO Member States and beyond, as they explored ways to redefine digital investment frameworks and unlock new investment opportunities. A centerpiece of the Forum was the launch of the Digital FDI Pakistan Insight Report, which outlined the pioneering blueprint pursued by Pakistan in its digital development. Building on the Digital FDI Initiative, the report recognizes Pakistan as the first nation to implement the initiative across its four pillars and identified six strategic priority actions to attract sustained digital investment. Commenting on the conclusion of DFDI, Prime Minister of Pakistan Shahbaz Sharif said, "Pakistan is proud to lead the way in digital transformation, and the success of DFDI is a testament to our commitment to fostering a thriving, investment-friendly digitally enabled economy through a multistakeholder approach. With the support of DCO, fellow DCO Member States and partners, we are creating a blueprint for sustainable development that will benefit not only Pakistan and our digital ecosystem, but all nations undergoing a digital transformation". At DFDI, Prime Minister Sharif also recognized the leadership of Secretary-General Deemah AlYahya and the DCO for their role in advancing Pakistan's digital foreign investment ecosystem, which has already attracted over $700 million in digital economy inflows. The event saw participation from more than 45 countries, with over 40 international companies and startups showcasing their products. Around 35 ministers and official delegations from various countries attended, along with over 30 global speakers and more than 50 CEOs from leading IT firms. "On behalf of the Digital Cooperation Organization, I wish to express our deep appreciation to the Government of Pakistan and Prime Minister Shehbaz Sharif for their stellar efforts in enabling the success of the first DFDI," said Deemah AlYahya. "This forum has demonstrated the transformative power of investment in bridging digital divides and accelerating sustainable growth," she added, The DCO remains committed to building a global investment environment where all nations can harness digital innovation to drive inclusive and sustainable growth. Pakistan is one of five founding members of the DCO, which was established in November 2020 on the sidelines of the G20 in Riyadh. With its 2026 presidency on the horizon, the country is strategically positioning itself as a leader in the digital economy, poised to drive global conversations, partnerships, and innovations that will shape the future of digital investment. About the Digital Cooperation Organization (DCO) The Digital Cooperation Organization is the world's first standalone international intergovernmental organization focusing on the acceleration of the growth of an inclusive and sustainable digital economy. It is a global multilateral organization founded in November 2020 that aims to enable digital prosperity for all. The DCO brings together the Ministries of Communications and Information Technology of its Member States, and is focused on empowering youth, women, and entrepreneurs, leveraging the accelerative power of the digital economy, and leapfrogging with innovation to drive economic growth and increase social prosperity. The Digital Cooperation Organization (DCO) brings together ministries of communications and information technology in 16 countries: the Kingdom of Bahrain, the People's Republic of Bangladesh, the Republic of Cyprus, the Republic of Djibouti, the Republic of The Gambia, the Republic of Ghana, the Hellenic Republic (Greece), the Hashemite Kingdom of Jordan, the State of Kuwait, the Kingdom of Morocco, the Federal Republic of Nigeria, the Sultanate of Oman, the Islamic Republic of Pakistan, the State of Qatar, the Republic of Rwanda, and the Kingdom of Saudi Arabia - collectively representing nearly $3.5 trillion in GDP and a market of nearly 800 million people, more than 70% of whom are under the age of 35. Through cooperation and strategic dialogue, we drive the facilitation of mutually advantageous cross-border legislation. The DCO seeks to establish within its Member States the optimal infrastructure and policies for the rapid creation of inclusive and equitable digital economies within which all people, businesses, and societies can innovate and thrive. The DCO's vision is to work towards a world in which every nation, business, and person has a fair opportunity to prosper in the digital economy. In pursuit of the Member States' common interests, the DCO works collaboratively with governments, the private sector, international organizations, NGOs, and civil society to enable more inclusive digital transformation and the growth of the digital economy. The DCO's key initiatives include programs to enhance cross-border data flows, promote market expansion for SMEs, empower digital entrepreneurs, and advance digital inclusion among women, and the youth, and other underrepresented populations.
Arab News
30-04-2025
- Business
- Arab News
Riyadh-based digital bloc says Pakistan's 2026 presidency to boost country's global tech standing
ISLAMABAD: The Secretary-General of the Riyadh-based Digital Cooperation Organization (DCO), Deemah AlYahya, said on Tuesday Pakistan's forthcoming presidency of the multilateral body was part of ongoing efforts to position the country as a regional and global digital leader. Founded in November 2020, the DCO is an intergovernmental organization aimed at accelerating digital transformation and encouraging collaboration among member states. The organization's founding members include Saudi Arabia, Bahrain, Jordan, Kuwait and Pakistan, with Nigeria and Oman joining shortly thereafter. Pakistan is scheduled to assume the DCO presidency in 2026, following Kuwait's term in 2025. AlYahya, a Saudi digital economy expert and the organization's Secretary-General since April 2021, is responsible for engaging with heads of state, ministers and private sector leaders to bridge digital divides across member nations. She is currently in Islamabad for a two-day Digital Foreign Direct Investment (DFDI) summit, organized by Pakistan's Ministry of Information Technology and Telecommunication in collaboration with the DCO. The event has attracted over 400 delegates and more than 200 IT and telecom companies from over 30 countries. 'The presidency of Pakistan that is planned for 2026 for DCO is a continuous effort for positioning Pakistan as the digital powerhouse for the region and for the globe as well,' the DCO secretary-general told Arab News in an exclusive conversation on the sidelines of the forum in Islamabad. She said Pakistan's leadership role would not only benefit the country in terms of infrastructure and technological advancement but also put it in a position where it will be able to support other countries to grow as well. 'The DCO is working to open markets for enterprises across all member states, enabling smooth and healthy cross-border collaboration, so Pakistan will have a leading role in making such kind of advancement happen,' she added. AlYahya said that seeing the youth and the growth in Pakistan's digital sector gave her a great sense of optimism. 'It gives us a lot of motivation to put hands in hands with all our member countries and utilize the amazing advancement in each and every country,' she added. She noted that DCO believed every country had a unique competitive advantage that can help address challenges faced by others, adding it was her organization's role to identify these imperatives, strengths and areas for improvement. 'The Digital FDI event here in Pakistan … is one example of how can we explore the competitive advantage of the great infrastructure, youth, talent, the advancement in software and hardware here in Pakistan and attract the private sector to harness these opportunities in the land of Pakistan,' she added. Pakistan's IT exports reached a record $3.2 billion in FY2024, reflecting a 24 percent increase from the previous year, according to the State Bank of Pakistan. In the first half of the current fiscal year (FY2025), exports rose further to $1.86 billion, up 28 percent year-on-year, with monthly figures averaging around $310 million. This growth trajectory is underpinned by a number of factors, including an expanding global client base, particularly in the Gulf Cooperation Council (GCC) region. Pakistan is now aiming to cross the $4 billion mark in IT exports by the end of FY2025.
