AIRLINK 61.71 Decreased By ▼ -0.77 (-1.23%)
BOP 5.33 Decreased By ▼ -0.03 (-0.56%)
CNERGY 4.51 Decreased By ▼ -0.07 (-1.53%)
DFML 15.40 Decreased By ▼ -0.10 (-0.65%)
DGKC 65.50 Decreased By ▼ -0.90 (-1.36%)
FCCL 17.27 Decreased By ▼ -0.32 (-1.82%)
FFBL 27.70 No Change ▼ 0.00 (0%)
FFL 9.26 Decreased By ▼ -0.01 (-0.11%)
GGL 10.08 Increased By ▲ 0.02 (0.2%)
HBL 105.50 Decreased By ▼ -0.20 (-0.19%)
HUBC 121.05 Decreased By ▼ -1.25 (-1.02%)
HUMNL 6.47 Decreased By ▼ -0.13 (-1.97%)
KEL 4.43 Decreased By ▼ -0.07 (-1.56%)
KOSM 4.36 Decreased By ▼ -0.12 (-2.68%)
MLCF 35.78 Decreased By ▼ -0.42 (-1.16%)
OGDC 122.51 Decreased By ▼ -0.41 (-0.33%)
PAEL 22.77 Decreased By ▼ -0.23 (-1%)
PIAA 31.01 Increased By ▲ 1.67 (5.69%)
PIBTL 5.82 Increased By ▲ 0.02 (0.34%)
PPL 107.30 Decreased By ▼ -0.20 (-0.19%)
PRL 27.28 Increased By ▲ 0.03 (0.11%)
PTC 17.49 Decreased By ▼ -0.58 (-3.21%)
SEARL 52.75 Decreased By ▼ -0.25 (-0.47%)
SNGP 62.70 Decreased By ▼ -0.51 (-0.81%)
SSGC 10.68 Decreased By ▼ -0.12 (-1.11%)
TELE 9.05 Decreased By ▼ -0.15 (-1.63%)
TPLP 11.50 Increased By ▲ 0.06 (0.52%)
TRG 70.50 Decreased By ▼ -0.36 (-0.51%)
UNITY 23.59 Decreased By ▼ -0.03 (-0.13%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,927 Decreased By -16.4 (-0.24%)
BR30 22,664 Decreased By -163.1 (-0.71%)
KSE100 66,989 Decreased By -152.9 (-0.23%)
KSE30 22,041 Decreased By -49.4 (-0.22%)
Technology

Technology Park to be built in Pakistan’s first STZ

  • The project is expected to create more than 5000 highly skilled jobs and generate over US$ 200 million of revenue
Published June 2, 2021

Rapidev DMCC, a UAE based technology solutions provider will establish a Technology Park in Pakistan’s first Special Technology Zone (STZ) in Islamabad.

The Special Technology Zones Authority (STZA) and Rapidev DMCC signed a Memorandum of Understanding (MoU) in this regard.

According to the MoU, both the organizations will work together to achieve high-tech industrial growth, create job opportunities, upskill the youth, and attract Foreign Direct Investments (FDI) through development of a knowledge ecosystem driven by research, innovation and collaboration.

Amer Hashmi, Chairman STZA, stated that the Technology Park in the Islamabad STZ will encourage innovative solutions and provide futuristic entrepreneurship opportunities for the youth of Pakistan.

The STZA stressed that Special Technology Zones (STZs) have the potential to change the economic outlook of Pakistan by enhancing IT exports and encouraging technology and knowledge transfer from global technology hubs.

The 3 Pol (People, Purpose, Passion) Technology Park will be built at an investment of US$ 100 million, and will spread over an area of 650,000 sq. ft. The facilities offered to resident companies will include technology towers, R&D labs, production and manufacturing plants, certified testing centers, wellness facilities and a Center of Excellence.

The project is expected to create more than 5000 highly skilled jobs and generate over US$ 200 million of revenue in the coming few years.

The MoU with Rapidev DMCC on 3 Pol Technology Park is STZA’s second after the former MoU was signed with iEngineering Corporation.

Comments

Comments are closed.