By Hifsa Raja ISLAMABAD, May 30 (INP-WealthPK): The World Economic Forum (WEF) has ranked Pakistan among the best countries in terms of affordability of information and communication technology (ICT) services whose size is projected to reach $20 billion by 2025 in accordance with the Pakistan Vision 2025 and Digital Policy of Pakistan 2018, reports WealthPK. The University of Engineering and Technology (UET), Taxila has entered into a joint venture with Huawei, a Chinese multinational company, for upgradation of its computer training curriculum and construction of a campus to meet the future requirements. Dr. Naveed Ahmed of UET said digital growth in Pakistan is undergoing a rapid transformation. He said the IT/ITeS sector is one of the fastest-growing industries in Pakistan, providing approximately 1% of the country's GDP, or approximately USD3.5 billion. The government’s incentives for the IT industry include zero income tax on IT exports till June 2025, which will attract other technology companies to do business in Pakistan, he added. Digital growth has doubled in the past four years, and analysts anticipate that it will increase by another 100 percent in the next two to four years to $7 billion. Worldwide IT services market rose from $2,445.47 billion in 2016 to $3,471.53 billion in 2021. The global IT services market is expected to grow to $6,275.36 billion in 2026 at a compound annual growth rate (CAGR) of 12.57%. According to the Economic Survey of Pakistan, IT and IT-enabled services (ITeS) remittances have experienced a compound annual growth rate (CAGR) of 18.85 percent over the past five years — the highest growth rate among all other industries and the highest in the area. Pakistan's IT exports have grown by 70% during the past three years. ‘’Because of the growing demand of the ICT industry, the UET hosts Huawei ICT Academy. Huawei also believes that the university-industry linkages can do better for creating a skilled workforce. That is why Huawei assists universities in cultivating ICT talent that satisfies industrial requirements, thereby supplying high-quality talent for development of the industry. The UET Taxila now includes Huawei ICT Training modules in its computer and telecom curriculum,’’ Dr. Naveed said. He said Pakistani universities must also adapt their instructional and operational strategies to meet the digital world's demands, adding that the UET had prioritised construction of a smart campus for this purpose. The university administration goes to Huawei once more to implement a comprehensive Smart and Safe Campus Project utilising Huawei ICT infrastructure, he added. "Additionally, Huawei has launched 5G technology. 5G has become an integral part of the global ICT infrastructure, which expedites digital transformation. Since rolling out 5G, carriers in Kuwait, one of the Middle East nations with the earliest and fastest 5G development, have seen 4 percent increase in revenue and 13 percent increase in profitability. Similarly, if we partner with Huawei, our revenue and profitability can also grow, allowing us to expand," said Dr. Naveed. The UET professor said beyond connection and profitability, 5G will promote development of vertical industries and Pakistan's Vision 2025. ICTs are widely utilised in developing nations, where they are viewed as a dynamic answer for socioeconomic growth. The ICT industry is a significant contributor to economic expansion in every nation, he said.