Ministry of Commerce hosts Crucial Discussion between Federal Minister Dr. Gohar Ejaz and US Delegation to Boost Investment in EV Sector, Semiconductors, and AI by Pakistani Diaspora
Islamabad, September 11, 2023:
The Ministry of Commerce is delighted to announce a fruitful meeting between the Federal Minister of Commerce, Dr. Gohar Ejaz, and a high-level US delegation to explore avenues for increased investment in Pakistan’s burgeoning Electric Vehicle (EV), semiconductor, and Artificial Intelligence (AI) sectors by the Pakistani diaspora.
During the meeting, Federal Minister Dr. Gohar Ejaz expressed his unwavering commitment to facilitate investors for Pakistan’s economic development.
He emphasized that the Pakistani diaspora, residing in the United States, is an invaluable asset to the country and underscored the importance of bringing them back into the fold of Pakistan’s economic progress.
Dr. Ejaz stated, “IT is our first priority, and the US diaspora is our asset.
We are determined to do whatever it takes to entice our talented US-based Pakistani diaspora to return and contribute to Pakistan’s growth. I take full ownership of the necessary steps required to achieve this, as was also requested by Ambassador Blome.”
The discussions held by the US delegation were marked by a commitment to advancing the future of AI, exploring its wide-ranging applicability, and formulating a comprehensive AI national policy. The delegation also deliberated on Pakistan’s potential to harness the EV wave, considering the presence of fewer than 6,000 EVs in the country and only a limited number of charging stations. A pivotal point of discussion revolved around the development of indigenous EV solutions in Pakistan, with a suggestion for duty concessions to incentivize Research and Development (R&D) activities. The delegation also called for a robust Pakistan National Semiconductor Policy and the urgent need for an AI Policy to guide the sector’s growth.
Additionally, the discussion touched upon the necessity of a National Data Management Policy, essential for safeguarding sensitive data and fostering an environment conducive to innovation.
Dr. Gohar Ejaz appreciated the collaborative spirit exhibited during the meeting and acknowledged the shared vision of both Pakistan and the United States in advancing the fields of EVs, semiconductors, and AI.
These discussions mark a crucial step towards unlocking the full potential of these sectors and strengthening economic ties between the two nations.