ISLAMABAD: The Special Technology Zones Authority (STZA) has signed three Memorandum of Understanding (MoUs) with international companies to attract foreign direct investment, technology transfer, and job creation into newly established technology zones across Pakistan.
In this regard, STZA Chairman Amer Hashmi and senior executives of respective companies including MasterCard, Galaxy Racer, and Shorooq Partners inked the MOUs on Thursday. President of Pakistan Dr Arif Alvi also attended the signing ceremony which was held in Dubai as part of the Expo 2020 visit.
The STZA delegation included Abdul Rahim CIO, Hamza Saeed Orakzai Director Planning, and Hina Nasir Director Marketing. The team also had several strategic engagements with high-profile tech investors, entrepreneurs, and venture capitalists throughout the day.
The first MoU for Digital Country Partnership was signed with MasterCard Asia/Pacific Pte. Ltd, a global technology company with a market capitalization of over $340 billion. This MOU includes strengthening the digital framework in Pakistan, deploying smart city solutions, boost artificial intelligence (AI) and cybersecurity capabilities, promote Agritech, and setting up Pakistan’s first cash-free technology zone.
The second MoU was signed with the UAE-based Galaxy Racer, for cooperation on the development of gaming and esports through STZs in Pakistan. The Esports industry has a global footprint and has been gradually grown in popularity over the years in the global market.
The third MOU was signed with the UAE-based Shorooq Partners to support building Pakistan’s tech ecosystem and set up a ground presence to support local founders and investors through a series of ecosystem programs and to further give portfolio companies in Pakistan a suite of value-added services. Chairman of STZA, Mr. Amer Hashmi, reinforced the government’s commitment to facilitating global venture capital firms in the STZs.
The authority, also hosted a session with international technology companies, investors, and venture capitalists to brief them about the STZs being created by the government to attract FDI, technology transfer, and job creation.