At the Silicon Valley conference in San Jose, Calif., backed by the Pakistani government in mid-October, the Pakistani ambassador to the United States and one of the conference speakers said, “If I were to look at our overall economic performance, the IT sector comes out as one that has performed the best.” The report acknowleded that Pakistan's Digital Policy served as the foundation pillar for the construction of a holistic Digital Ecosystem in the country with advanced concepts and components for the rapid delivery of next generation digital services, applications and content. Moreover, it means to improve citizens’ quality of life and economic well-being by ensuring availability of accessible, affordable and reliable high quality ICT services. It was noted that the policy includes incentives and promotional initiatives for the sector: 100% foreign ownership allowed; 100% repatriation of capital & dividends (subject to SBP Approval); IT & ITeS Export Income Tax exemption till June 2019 (Extended till 2024 just recently); and Income tax holiday for Venture Capital companies/funds till June 2024. According to the report,  incentives have been proved to be effective in attracting long term investments, improve export remittances and proliferate new IT parks through technology SEZs throughout the country. Statistics from Pakistan Software Export Board (PSEB) show that the country’s software exports grew by 2.4 per cent to $1.09 billion during 2018-19, from $1.06bn in the last fiscal year. The total size of the software sector is approximately $6.5 billion, which is expected to grow at least 3.5 percent in the next five years.   Major international software brands from the United States, the United Kingdom, Germany, Spain, and China have already established a strong presence in Pakistan.