New Technology Park in Islamabad to Create Thousands of Jobs

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New Technology Park in Islamabad to Create Thousands of Jobs

The Special Technology Zones Authority (STZA) and Rapidev DMCC have signed a memorandum of understanding to set up a technology park in Pakistan’s first Special Technology Zone (STZ) in Islamabad. To create

The signing ceremony was held in Islamabad and was attended by members of both organizations, technology professionals and government officials. According to the MoU, the two organizations will invite foreign direct investment (FDI) through high-tech industrial development, job creation, youth skills development, and the development of a knowledgeable ecosystem. , Based on innovation and cooperation.

Mr. Amir Hashmi, Chairman STZA, stated that the Technology Park at Islamabad STZ will endorse innovative solutions and provide future business opportunities for Pakistan’s young generation. In addition, the STZA team addressed how the Special Technology Zone (STZ) can enhance Pakistan’s economic outlook by increasing IT exports and encouraging the transfer of technology and knowledge from global technology hubs. Able to change.

The signing of the MoU between the two organizations means that arrangements are in place for the STZ’s flagship project, Islamabad STZ, which will soon be demolished.

3 Pool (People, Purpose, Passion) Technology Park by Rapidev, spread over an area of ​​650,000 square feet, will offer a complete ecosystem with all the necessary facilities to promote innovation. Facilities provided to residential companies will include technology towers, state-of-the-art R&D labs, production and manufacturing plants, certified testing centers, wellness facilities and a Center of Excellence.

With an investment of 100 100 million, the project is expected to create more than 5,000 highly skilled jobs and generate more than 200 200 million in revenue over the next few years. With the addition of a research and training academy in the park, Rapidio’s chief executive officer, Mr. Wajid Gulistan, also envisions equipping Pakistan’s youth with high-tech knowledge and skills.

Addressing the gathering, Mr Gulistan said the park would be one of its kind in Pakistan – a hub for research, innovation and technology. He mentioned that the goal is to provide access to all available facilities to all residential companies including startups, SMEs and multinationals. He concluded by saying, “Our mission is to make Pakistan the fastest growing exporter in the world and to make ‘Made in Pakistan’ a symbol of quality.”

Last but not least, this is STZA’s second recent agreement with Rapidev DMCC on 3 Pool Technology Park after signing a previous MoU with Engineering Corporation. It is envisaged that a cluster of technology parks will be formed within the Islamabad STZ as this zone is being completed over the years.

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