ISLAMABAD: The Special Technology Zones Authority (STZA) has signed three Memorandums of Understanding (MoUs) with international companies to attract foreign direct investment, technology transfer, and job creation into newly established technology zones across Pakistan.
The Chairman STZA, Amer Hashmi, and senior executives of respective companies i.e., MasterCard, Galaxy Racer, and Shorooq Partners inked the MoUs. President of Pakistan, Dr Arif Alvi also attended the signing ceremony which was held in Dubai as part of the Expo 2020 visit.
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 cyber security 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 setup a ground presence to support local founders and investors through a series of ecosystem programmes and to further give portfolio companies in Pakistan...
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