Islamabad: Prime Minister Imran Khan on Thursday inaugurated Lahore Technopolis, a special technology zone, to create jobs and boost Pakistan’s technology exports.
It is the second technological zone after Islamabad Technopolis, created to accelerate the country’s transition to a knowledge-based economy.
The Special Technology Zones Authority (STZA) announced the establishment of 14 world-class technology zones across the country in the coming months.
These areas will create thousands of jobs for young people, boost technology exports, generate a highly skilled workforce, and develop Pakistan’s tech industry and entrepreneurship ecosystem.
Speaking at the event, Imran Khan expressed his desire to “transform Pakistan into a knowledge-based economy by encouraging innovation, research and development, and empowering Pakistani youth to take the lead. development of the country ”.
He also underlined the importance of the technology industry from an economic point of view, especially for job creation, human capital development, technology transfer, women’s empowerment, skills development. , import substitution and overall technology-driven economic growth.
Khan said the 10-year tax breaks in the tech zone for local and foreign companies would provide incentives for the tech industry and improve the ease of doing business. The digital economy can create new employment opportunities for young men and women who make up over 60% of Pakistan’s 220 million people, he said.
Pakistan has made significant strides in the digital space as information technology (IT) exports cross the $ 2 billion mark for the first time this year.
STZA Chairman Amer Hashmi, who oversees the country’s ambitious plans to develop a high-tech economy, said in a previous interview with Gulf News that his organization’s goal is to transform Pakistan into an entrepreneurial-driven nation. on technology and the spearhead of economic growth. “STZA provides the Pakistani technology sector with the institutional and legislative support that the industry lacked to unleash its full potential.
Lahore Technology Park is one of Pakistan’s largest Special Technology Zones (STZs), spanning a strategically located 800-acre plot of land, where huge investments are sought around the world to improve the potential for development. export of the technological sector. Enterprise and Zone Developer licenses have been issued to several local and global companies including Systems Limited, Galaxy Racer, Shorooq Partners, Grupo Karim, iEngineering, One Screen, Co labs, DigiKhata and Adal Fintech.
The event also marked the signing of the Memorandum of Understanding for investments worth more than $ 300 million in technology zones in different parts of the country.