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New Technology Park in Islamabad to Create Thousands of Jobs

A Memorandum of Understanding (MoU) was signed by the Special Technology Zones Authority (STZA) and Rapidev DMCC to build a Technology Park in Pakistan’s first Special Technology Zone (STZ) in Islamabad, a cutting-edge project that will support a high-tech corporate environment.

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Government officials, representatives from the IT industry, and members of both organisations were present at the signing event in Islamabad.

According to the MoU, both institutions will collaborate to construct a knowledge ecosystem powered by research, innovation, and collaboration in order to achieve high-tech industrial growth, generate jobs, upskill the youth, and attract Foreign Direct Investments (FDI).

The organisations’ signing of the Memorandum of Understanding (MoU) lays the foundation for the upcoming groundbreaking of Islamabad STZ, STZA’s flagship project.

With a $100 million investment, the project is anticipated to produce more than 5000 highly skilled employment and more than $200 million in income over the next five years.

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The previous MoU was signed by STZA with iEngineering Corporation, and the current MoU is with Rapidev DMCC on 3 Pol Technology Park. As the Islamabad STZ develops over time, it is expected that a collection of Technology Parks would emerge inside it.

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