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Hong Kong will establish Research and Development Centre in Pakistan

Faryal Nadeem Apr 16, 2017
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Hong Kong famous financial technology company Octo3 have announced to establish its entire Research and Development Department in Pakistan. The company specializes in developing and providing advanced payment as well as safe and secure transactional solution. It is further added that the firm will invest in Pakistani market to transform and revolutionize the ICT landscape.

The announcement was made after analyzing the robust development in the Pakistan Information Technology sector. The IT sector is rising and fulfilling the need of digital payment solution because of the growing e-commerce segment in the country.

The Groups Chief Executive Office Tyrone Lynch said “we have decided to shift and transfer the entire R&D department. Even the primary functions will also be transferred to Pakistan from Hong Kong as the country provides great talent in IT sector. ”

It was mentioned that Hong Kong reputable company outsourced their R&D wing to India, but things did not work according to their expectation and then once again they have to move back to Hong Kong.

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Lynch added that they have wisely analyzed the Pakistani market. The rapid developments in the IT department, it was concluded that digital payment solutions and the scope of ICT are highly needed especially after the completion of CPEC. Therefore, we decided to shift our R&D wing to Pakistan.

The Hong Kong Company started its operations in 2009 and made its presence in Singapore, Bangkok, and Hong Kong and now in Pakistan. This will help Pakistan to expand its entire modern economy. The founding chairperson is a Pakistani, so it aims to add value in CPEC related projects by building the database centers and various other ICT infrastructure with the government, private and even with multinational companies.

The management is taking support from financial institutions as well as local banks to support in various payment solutions, which will be accepted worldwide.

The Chairman and the Co-Founder Octo3 Group Holdings Limited, Ajmal Samuel said “We are a solution provider company in Pakistan which works both on ICT as well as digital payment solutions. I have access to many foreign players who wants to invest in the emerging economies, but the negative perception of Pakistan may opt them to visit.”

He claimed that the e-commerce growth of Pakistan have some global players like Amazon, our company can provide digital payment solution from Pakistan.

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