21 December 2023 Episode 1
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Summary of the Episode
The promising future of Pakistan’s IT industry is evident in front of the world. This is not a mere statement but an argument made on the premise of stats. Recent figures indicate that Pakistan's IT market will reach $20 billion by 2025. But the major chunk of Pakistan's exports is targeted towards the US, UK, UAE, Singapore, and Saudi Arabia. Ignoring the Nordic IT market, which is poised to reach $6.36 billion during 2022-2026.
So, to find out how Pakistan's IT sector can effectively and efficiently penetrate into the Nordic IT market, we invited the respectable Ahmed Farooq, Pakistan’s Ambassador to Denmark in our show.
Show Notes
- The Pakistan Embassy has been quite active in facilitating the promotion of Pakistan’s IT sector. Because Denmark has an IT industry worth $35 billion, of which $20 billion is secured by IT services. As per Ahmed, in previous years, the Embassy has strived to bring all relevant stakeholders on one platform. Such as the Pakistan Software Export Board (PSEB) and the Ministry of IT also including the diaspora situated in Denmark.
- Another potent factor for entering Nordic markets is knowing that these are trust-based societies. For a company that wants to expand its business in this region, the first and foremost requirement is to prefer a physical presence rather than remote work. So that in the worst-case scenario, the client or customer knows where to go. Noting the fact that the best entry points into the Danish industry are via local, trusted institutions like the Danish Chamber of Commerce etc.
- If a medium-sized or small enterprise wants to enter the market, they must develop a relationship with the Pakistani embassy. Because the embassy is a local representation of companies saving them from trust-building efforts.
