Russia’s principal agency for the development and commercialization of advanced technologies, the Skolkovo Foundation, and the Special Technology Zones Authority (STZA) of Pakistan have signed a Letter of Intent (LoI) to enhance bilateral cooperation in the technology sector, increase exchanges between the scientific and technological institutions, and foster business relations.
The LoI was inked by Skolkovo Foundation Chairman of the Board Igor Drozdov and Special Technology Zones Authority Chairman Amer Ahmed Hashmi during the visit of Prime Minister Imran Khan to Russia. The prime minister also witnessed the signing ceremony.
Founded in Moscow in 2010, the Skolkovo Foundation has a mandate of supporting technological entrepreneurship in Russia and commercializing the results of scientific research activities. The number of Skolkovo residents already exceeds 3,200 and the Foundation provides them an array of services to roll out developments into international markets.
Also, located at the Skolkovo Innovation Center is the Skolkovo Institute of Science and Technology (Skoltech), which is listed in Nature Index’s ‘Top-100 Young Universities’.
The STZA’s strategic partnership with Skolkovo Foundation will pave the way for the introduction of 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 facilitate the establishment of 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.
