When the CPEC agreement was signed it was decided that Pakistan and China would be setting up IT industrial parks in every province in Pakistan.
One of such IT Parks were announced for Islamabad, work on which has already been started. There’s another one announced now. Keep reading to know the details:
Sindh IT Industrial Park
An MoU (memorandum of understanding) has been signed between Chief Minister IT Sindh Dr. Sikandar Ali Shoro and Ministry of Industries and Information Technology of China on the establishment of an IT Industrial park in Sindh.
He said that this will help promote IT in Sindh and further its development in the province. He further added that they agreed to promote, exchange views, experiences, knowledge in the field of Information Technology and Industrial Development and strengthen the strong relations between province of Sindh and Peoples Republic of China.
In Islamabad the construction of the first IT industrial park started about half a year or so ago and is predicted to complete in 10 years. The one in Islamabad is expected to cost $ 1.5 billion and will be based on 3 phases.
The first phase will be completed in 3 years the second one in 4 years while the last one will be done in 3 years.
An industrial park’s key functions are:
- To provide an exhibition and developmental platform for academia and industry (local and international)
- To develop knowledge-based enterprises by undertaking research based routes to the development and commercialization of ideas and technologies
- To act as a knowledge provider by establishing university research and education infrastructure, applied research laboratory facilities by public bodies at the Technology Park
- To be a dynamic business and trading platform for local and international industries
- To showcase Pak-China commodities in order to provide impetus to the existing collaborative ventures while simultaneously encouraging new linkages
- To act as a wholesale and retail market
- To provide Financial support services such as through establishing venture capital entities, regional development agencies and/or banks at the Technology Park
- To provide modern e-commerce platform keeping up with latest global trends
- To act as an investment and financing platform for novel startups and technologies
- To set-up Business Incubators and Business Development Centers, both for male and female entrepreneurs alike.