ISLAMABAD
\nThe Special Technology Zones Authority (STZA) announced the establishment of four new Special Technology Zones (STZs), focusing on business process outsourcing, information technology, high-tech production, research and development, tech skill development, and knowledge products.
\nThe decision has been taken in line with the vision of the Prime Minister and the Federal Government to enable job creation for the youth and prioritise the technology sector.
\nAccording to news release, these four new zones consists of 1.4 million Sqft high-quality tech infrastructure and 130 acres of land available for exclusive use of the technology companies.
\nAn investment of Rs. 30 billion has already been made in developing the specialised tech infrastructure by the zone developers while more than Rs 150 billion investment is expected in next 2-4 years by local and foreign technology companies.
\nThe 4 new zones will have the capacity to house more than 50,000 professionals with an export potential exceeding
\nUS$ 350 million annually.
\nThe newly designated zones included the NUST Special Technology Zone and Tech7 Special Technology Zone in Islamabad, Mindbridge Special Technology Zone in Lahore, and Capital Smart Technology Zone in Rawalpindi.
\nThese zones are notified strategically to foster innovation, drive economic growth, enhance technology exports and position Pakistan as a key player in the global technology arena.
\nThe accelerated roll-out of STZs are in-line with the economic pillars of SIFC and will increase the technology related local and foreign direct investment in the country.
\nIn addition to the 12 existing zones, which are home to over 15,000+ technology professionals, the newly notified zones will offer state-of-the-art facilities, cutting-edge infrastructure, and high-speed internet connectivity, ensuring that enterprises can compete and thrive in the global market.
\nExclusively designated for technology sector companies under STZA policy, these zones also offer significant incentives, including 10-year exemptions on Income Tax and Customs duties, and forex benefits to licensed technology companies operating within them.
\nThe NUST Special Technology Zone in H12 Islamabad, spanning 13 acres within one of Pakistan\u2019s leading science and technology universities, is positioned to become a major hub for R&D, high tech production and innovation.
\nWith a Rs 4 billion investment in tech-infrastructure and a potential of Rs 50 billion investment by technology & RnD companies, this zone will serve as a critical platform for knowledge-driven economic growth.
\nIt will enable technological advancements, industry-academia collaboration and attract top talent to support groundbreaking R&D projects in Science & Technology.
\nThe Tech7 Special Technology Zone in B-17 Islamabad encompasses an expansive 1 million square feet state-of-the-art facility for technology services companies.
\nSupported by an investment of Rs15 billion in tech-infrastructure and potential Rs 12 billion investment by technology sector companies, this zone is designed to cultivate a vibrant ecosystem for tech startups, SMEs, and established companies.
\nIt provides a comprehensive range of facilities, including modern office spaces and high-speed internet, to accelerate business growth and innovation.
\nThe Mindbridge Special Technology Zone in Lahore, located in the Quaid-e-Azam Industrial Estate, spans 360,000 square feet with an investment of Rs 5 billion.
\nAs one of Pakistan\u2019s largest Business Process Outsourcing (BPO) companies, Mindbridge is expanding its footprint with this specialised BPO Zone, offering a complete ecosystem tailored for it\u2019s own expansion, startups and SMEs in BPO sector and related areas.
\nWith fully serviced office spaces and modern amenities, the Mindbridge Special Technology Zone is poised to become a powerhouse in Pakistan\u2019s BPO industry, fostering innovation and growth.
\nThe Capital Smart Technology Zone in Rawalpindi, also known as Silicon Village, spans 127 acres within the Capital Smart City. With an investment of Rs 10 billion in basic infrastructure and essential facilities, this large zone shall lead the development of a cutting-edge technology ecosystem, positioning it as a pivotal platform for indigenous innovation, exports growth, import substitution and job creation for local and global technology companies.
\nSome of the focus areas include high-tech production enterprises, RnD companies, skill development organisations, technology services companies and business process outsourcing players.
\nThe Capital Smart Technology Zone is set to become a premier destination for regional and global technology companies with an investment potential exceeding Rs 100 billion.
\nThese newly notified Special Technology Zones underscore STZA\u2019s dedication to advancing Pakistan\u2019s innovation and entrepreneurship ecosystem by establishing specialized and mixed-technologies zones that cater to the dynamic needs of the evolving technology sector.
\nThese zones provide unparalleled opportunities for collaboration, fostering a robust network of industry experts, investors, researchers, and emerging tech talent, thereby nurturing a vibrant knowledge and technology ecosystem in Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Special Technology Zones Authority (STZA) announced the establishment of four new Special Technology Zones (STZs), focusing on business process outsourcing, information technology, high-tech production, research and development, tech skill development, and knowledge products. The decision has been taken in line with the vision of the Prime Minister and the Federal Government to enable […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-425111","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n