Urging Pakistani-American entrepreneurs based in the US to take advantage of the economic opportunities in Pakistan and the business-friendly policies of the government, Pakistan’s Ambassador to the United States, Masood Khan, said that the exponential growth of startups and the tech sector in Pakistan created significant economic opportunities and the country is mature for attracting investment.
Ambassador Khan stated this while addressing a symposium on ‘Healthcare Entrepreneurship Landscape in Pakistan’ for the Association of Physicians of Pakistani Descent of North America’s (APPNA) 45th Annual Summer Convention in Atlantic City.
He said that the Pakistani-American entrepreneurs have emerged as key stakeholders in the Pak-US economic partnership.
“Your success stories serve as a catalyst for promoting the entrepreneurial drive and competitive spirit among aspiring entrepreneurs in Pakistan and further strengthen the Pakistan-US partnership,” the ambassador remarked.
Highlighting the significant successes of startups in Pakistan, Ambassador Khan said that Pakistani startups attracted an investment of more than $800 million in the last 18 months, and international investors are interested in Pakistani startups.
There are currently 3,720 startups in Pakistan, of which 356 are HealthTech startups. The ambassador mentioned that health tech startups are 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 stated that the government is committed to facilitating startups and new businesses in Pakistan, and the simplification of the tax regime, incentives for new businesses, the establishment of Special Economic Zones (SEZs), and liberalization of the visa regime demonstrate Pakistan’s keenness to become an attractive destination for investment.
Discussing the challenges the pandemic posed to the healthcare sector across the globe, Ambassador Khan thanked the US government for the provision of 62 million COVID-19 vaccines and mentioned that the pandemic was a reminder to prepare for future challenges of similar nature. He also urged physicians and investors to invest their excess capacity in Pakistan’s healthcare sector to reap the benefits of opportunities available in the healthcare sector.
The APPNA is the largest medical association in the United States of America. The symposium was organized by the APPNA’s Committee on Medical Education, Research and Information Technology Transfer (MERIT) and OPEN Global (Organization of Pakistani Entrepreneurs).
The participants interacted with Ambassador Khan and asked questions about the investment opportunities and the facilities extended to the potential investors.
