
Digital Investment Milestone: Pakistan Becomes First to Host DCO's DFDI Forum
The Digital Cooperation Organization (DCO) and the Government of Pakistan successfully conclude inaugural Digital Foreign Direct Investment Forum 2025, convening 700 global leaders.
Pakistan launches the first national implementation of the DCO Digital FDI Initiative, with $700M in digital investment to date.
Prime Minister Shahbaz Sharif a nd DCO Secretary-General Deemah AlYahya affirm multistakeholder leadership in driving digital transformation, with Pakistan Prime Minister personally recognizing DCO Secretary-General for advancing Pakistan's Digital FDI ecosystem.
ISLAMABAD, May 8, 2025 /CNW/ -- The Digital Cooperation Organization (DCO), in partnership with the Government of Pakistan, today celebrated the successful conclusion of the inaugural Digital Foreign Direct Investment Forum 2025 (DFDI) held in Islamabad. The two-day Forum, hosted 29-30 April 2025, served as a strategic platform, convening 700 delegates spanning Heads of State, ministers, global investors, policy makers and tech leaders from DCO Member States and beyond, as they explored ways to redefine digital investment frameworks and unlock new investment opportunities.
A centerpiece of the Forum was the launch of the Digital FDI Pakistan Insight Report, which outlined the pioneering blueprint pursued by Pakistan in its digital development. Building on the Digital FDI Initiative, the report recognizes Pakistan as the first nation to implement the initiative across its four pillars and identified six strategic priority actions to attract sustained digital investment.
Commenting on the conclusion of DFDI, Prime Minister of Pakistan Shahbaz Sharif said, "Pakistan is proud to lead the way in digital transformation, and the success of DFDI is a testament to our commitment to fostering a thriving, investment-friendly digitally enabled economy through a multistakeholder approach. With the support of DCO, fellow DCO Member States and partners, we are creating a blueprint for sustainable development that will benefit not only Pakistan and our digital ecosystem, but all nations undergoing a digital transformation".
At DFDI, Prime Minister Sharif also recognized the leadership of Secretary-General Deemah AlYahya and the DCO for their role in advancing Pakistan's digital foreign investment ecosystem, which has already attracted over $700 million in digital economy inflows. The event saw participation from more than 45 countries, with over 40 international companies and startups showcasing their products. Around 35 ministers and official delegations from various countries attended, along with over 30 global speakers and more than 50 CEOs from leading IT firms.
"On behalf of the Digital Cooperation Organization, I wish to express our deep appreciation to the Government of Pakistan and Prime Minister Shehbaz Sharif for their stellar efforts in enabling the success of the first DFDI," said Deemah AlYahya.
"This forum has demonstrated the transformative power of investment in bridging digital divides and accelerating sustainable growth," she added, The DCO remains committed to building a global investment environment where all nations can harness digital innovation to drive inclusive and sustainable growth.
Pakistan is one of five founding members of the DCO, which was established in November 2020 on the sidelines of the G20 in Riyadh. With its 2026 presidency on the horizon, the country is strategically positioning itself as a leader in the digital economy, poised to drive global conversations, partnerships, and innovations that will shape the future of digital investment.
About the Digital Cooperation Organization (DCO)
The Digital Cooperation Organization is the world's first standalone international intergovernmental organization focusing on the acceleration of the growth of an inclusive and sustainable digital economy. It is a global multilateral organization founded in November 2020 that aims to enable digital prosperity for all.
The DCO brings together the Ministries of Communications and Information Technology of its Member States, and is focused on empowering youth, women, and entrepreneurs, leveraging the accelerative power of the digital economy, and leapfrogging with innovation to drive economic growth and increase social prosperity.
The Digital Cooperation Organization (DCO) brings together ministries of communications and information technology in 16 countries: the Kingdom of Bahrain, the People's Republic of Bangladesh, the Republic of Cyprus, the Republic of Djibouti, the Republic of The Gambia, the Republic of Ghana, the Hellenic Republic (Greece), the Hashemite Kingdom of Jordan, the State of Kuwait, the Kingdom of Morocco, the Federal Republic of Nigeria, the Sultanate of Oman, the Islamic Republic of Pakistan, the State of Qatar, the Republic of Rwanda, and the Kingdom of Saudi Arabia - collectively representing nearly $3.5 trillion in GDP and a market of nearly 800 million people, more than 70% of whom are under the age of 35.
Through cooperation and strategic dialogue, we drive the facilitation of mutually advantageous cross-border legislation. The DCO seeks to establish within its Member States the optimal infrastructure and policies for the rapid creation of inclusive and equitable digital economies within which all people, businesses, and societies can innovate and thrive. The DCO's vision is to work towards a world in which every nation, business, and person has a fair opportunity to prosper in the digital economy.
In pursuit of the Member States' common interests, the DCO works collaboratively with governments, the private sector, international organizations, NGOs, and civil society to enable more inclusive digital transformation and the growth of the digital economy.
The DCO's key initiatives include programs to enhance cross-border data flows, promote market expansion for SMEs, empower digital entrepreneurs, and advance digital inclusion among women, and the youth, and other underrepresented populations.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Cision Canada
5 days ago
- Cision Canada
FMS CAPITAL TRUST FILES PRELIMINARY PROSPECTUS FOR INITIAL PUBLIC OFFERING
TORONTO, /CNW/ - FMS Capital Trust (the " Trust") announced today that it has filed with the securities commissions or similar authorities in each of the provinces of Canada, except Québec, and obtained a receipt for, a preliminary prospectus for an initial public offering of trust units (the " Offering"). The preliminary prospectus qualifies the distribution of a minimum of C$40 million and a maximum of C$60 million of Class A Units and Class F Units of the Trust at a price of C$10.00 per Class A Unit and Class F Unit. The Trust is an unincorporated investment trust and was established for the primary purpose of investing in a portfolio of Canadian income-producing self-storage properties with a focus on underserved and overlooked markets. Following completion of the Offering, the Trust intends to indirectly acquire a cluster of three existing self-storage properties (the " Initial Portfolio"), each located in Ontario, Canada. The balance of the net proceeds of the Offering will be used to subsequently acquire one or more additional self-storage properties in Canada, consistent with the Trust's investment objectives. FMS Manager LP (the " Manager"), an affiliate of Forum Investment and Development Corporation (" Forum") and Make Space Inc. (" Make Space"), is the promoter of the Trust and will also act as manager of the portfolio of properties. Forum is an investor, developer and asset manager operating across North America for over 29 years, focusing on real estate, private equity and infrastructure, with a strategic concentration in housing. The enterprise value of Forum's assets under management currently exceeds $3.1 billion. Make Space originally opened its first storage location in Pender Harbour, British Columbia in 2004. Since then, the Make Space platform has expanded across Canada to become a leading self-storage business with 57 self–storage assets, over 2.4 million square feet of rentable self-storage, and a 20-year track record in the industry. CIBC Capital Markets is acting as lead agent for the Offering. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Trust in the United States, nor shall there be any sale of the securities of the Trust in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces of Canada, except Québec. The preliminary prospectus is still subject to completion or amendment. A copy of the preliminary prospectus may be obtained from CIBC World Markets Inc. and is available on SEDAR+ at There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued. Forward-looking Statements This news release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the Trust, Forum, Make Space and the Manager regarding future events, including statements concerning the use of proceeds of the Offering. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts. Material factors and assumptions used by management of the Trust to develop the forward-looking information include, but are not limited to, the Trust's current expectations about: vacancy and rental growth rates in the Canadian self–storage market; demographic trends in Canada; the realization of property value appreciation and timing thereof; the inventory of self-storage properties; the availability of self-storage properties for acquisition (other than the properties comprising the Initial Portfolio) and the price at which such properties may be acquired; the price at which properties may be disposed and the timing thereof; closing and other transaction costs in connection with the acquisition and disposition of properties; the availability of mortgage financing and current interest rates; the capital structure of the Trust; the extent of competition for self-storage properties; assumptions about the markets in which the Trust intends to operate; expenditures and fees in connection with the maintenance, operation and administration of the properties; any capital costs to expand the scope of the Initial Properties; the ability of the Manager to manage and operate the properties; the global and Canadian economic environment, including changes in interest rates, capitalization rates and the rate of inflation; fluctuating global economic conditions; and governmental regulations or tax laws. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect. Although management believes the expectations reflected in such forward-looking statements are reasonable and represent the Trust's internal projections, expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities may not be achieved. A variety of factors, many of which are beyond the Trust's control, could cause actual results in future periods to differ materially from current expectations of estimated or anticipated events or results expressed or implied by such forward-looking statements. Such factors include the risks identified in the preliminary prospectus, including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the Trust undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.


Global News
30-05-2025
- Global News
U of G student housing developer must pay development tax, city council says
A developer has to pony up some dough after Guelph found them responsible for development charges on a student housing project. The city reportedly put a $15.5 million tax levy on the project on 601 Scottsdale Dr., prompting Forum Asset Management to pause the second development phase Forum presented a complaint at a council hearing earlier in May, arguing the project was exempt from the charges because it is on university-owned lands and only intended for student housing. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy During the hearing, staff convened as a tribunal to review the complaint and dismissed it, citing that the purpose-built rental units intended for students were not exempt from the charges. In a statement, the city says the project is already eligible for a $2.6 million discount on the fee for the purpose-built rental units under the Development Charges Act. Story continues below advertisement If the developer rents the units at or below the provincial government's affordable rental threshold for Guelph for 25 years, it would receive full exemption from the development charges. Forum Asset Management has until July 8 to file an appeal with the Ontario Land Tribunal.


Winnipeg Free Press
30-05-2025
- Winnipeg Free Press
Pakistan announces it will send an ambassador to Afghanistan to upgrade diplomatic ties
ISLAMABAD (AP) — Pakistan announced Friday that it is upgrading its diplomatic representation in neighboring Afghanistan from chargé d'affaires to the level of ambassador, a move aimed at improving bilateral relations between the two neighbors. The announcement by the Foreign Minister, Ishaq Dar, comes a week after he met his Afghan counterpart, Amir Khan Muttaqi, alongside China's top diplomat during a trilateral meeting in Beijing. Pakistan and the Afghan Taliban government have embassies in each other's capitals but they are led by chargés d'affaires. Like the international community, Pakistan has not recognized the Afghan Taliban government. There was no immediate comment from Kabul. However, Pakistan had earlier signaled that the two sides were considering an upgrade in diplomatic ties. In a statement, Dar said relations between Pakistan and Afghanistan have taken a positive turn since his visit to Kabul in April. 'To maintain this momentum, I am pleased to announce the decision of the Government of Pakistan to upgrade the level of its chargé d'affaires in Kabul to the level of ambassador,' he said. Dar expressed hope that the decision would strengthen economic cooperation, boost bilateral trade and enhance joint efforts to combat terrorism. Tensions between the two countries have long been strained over Pakistan's accusations that Kabul provides safe haven to Pakistani Taliban, who are known as Tehrik-e-Taliban Pakistan or TTP and are allies of the Afghan Taliban. TTP is a separate group and has been emboldened since the Afghan Taliban returned to power in Afghanistan in 2021.