ISLAMABAD, August 26 (Gwadar Pro)- The establishment and operation of Special Technology Zone (STZ) Islamabad, will be a step forward for Pakistan, making the country the next destination for World Tech Giants.

 

In order to promote indigenization, reduce overwhelming dependence on imports, boost IT based exports as well as to create new jobs and opportunities for the bulging youth population, Pakistan will set up 14 such special technology zones (STZs) across the country.

 

STZs along with Special Economic Zones (SEZs) under China Pakistan Economic Corridor (CPEC) will bring economic revolution in the country, eradicating poverty and unemployment while giving a boost to the living standards of local people.

 

Presiding a meeting on the establishment of STZs, Prime Minister Imran Khan said that the top priority for his government is to support youth by harnessing the power of technology and creating an enabling environment for strong partnership among educational institutions, industrial sector and government.

 

British investor Harry Stebbings, who previously invested in Pakistani startups, said in his tweet that Pakistan is expected to be the next massive market, it’s a large market of 220 million. “The country has real consumer spending power”, he added.

 

The sudden emergence of Pakistan’s tech ecosystem on the international stage has been driven by three major factors: an improving security situation, quickly growing mobile connectivity, and critical legal changes and deregulation.

 

Pakistan's tech ecosystem has been slowly gaining momentum in the last few years. In 2021, Pakistani startups are on track to raise more money than the previous five years combined. Even more excitingly, a large portion of this capital is coming from international investors from across Asia and the Middle East.

 

This article originally appeared on Gwadar Pro.