Russia’s Skolkovo Foundation and STZA Sign LoI to promote cooperation in advance technologies
ISLAMABAD, February 25: The Skolkovo Foundation, Russia’s principal agency for the development and commercialization of advanced technologies and Special Technology Zones Authority (STZA) of Pakistan have signed a Letter of Intent (LOI) to enhance bilateral cooperation in the technology sector, foster business relations and increase exchanges between the scientific and technological institutions of two countries.
The LOI was inked by Igor Drozdov, Chairman of the Board, Skolkovo Foundation and Amer Ahmed Hashmi, Chairman, Special Technology Zones Authority during the historic visit of the Prime Minister of Pakistan, Imran Khan, to the Russian Federation. Prime Minister, Imran Khan witnessed the signing ceremony.
The STZA’s strategic partnership with Skolkovo Foundation will pave ways for introducing Russian technologies in Pakistan and open doors for leading Russian IT companies and organizations to invest and operate in Pakistan’s Special Technology Zones.
The Skolkovo Foundation and STZA intend to cooperate for developing innovation centers and establishing research and development institutes across Pakistan to achieve technological advancements, especially in the areas of circular economy, low carbon development projects, clean energy, and digital transformation. The LOI will also aid in establishing linkages among academic institutions, promote online and offline technology activities and bilateral exchanges in all sectors of technology.
The STZA was enacted in 2021 with a national mandate of creating technological ecosystems across the country and offers access to wide ranging fiscal and forex incentives, regulatory support, highly trained human capital, and soft landing through its one window framework supporting the growth of enterprise in the zones.
