Pakistan set to offer promising one-window opportunities for foreign investors: Alvi

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Staff Reporter
Dubai

President Dr Arif Alvi on Saturday said Pakistan was committed to offer promising business opportunities for foreign investors through one-window operations in sectors of innovation and technology.

In a meeting with heads of leading investment and technology firms here, the president said the one-window facility under Special Technology Zones Authority (STZA), on which a legislation has been made, was aimed at encouraging and facilitating the foreign investors to expand their information technology footprint in Pakistan.

President Alvi said STZA had been set up by the federal government with a mandate to provide world-class digital and physical infrastructure across the country and putting Pakistan on the global technology radar.

He emphasized that jumping onto the technological bandwagon and investing in human capital development would ensure the country’s economic stability.

President Alvi invited the companies to invest in Pakistan’s diverse sectors particularly in e-business, adding that enhancing broadband penetration would help boost economic activities.

He said as a fundamental enabler of inclusive economic growth, the STZA was charged with delivering on key strategic goals of inclusive socioeconomic development and economic opportunity, particularly for youth.

Those who called on the president included Mark Mobius, founder of Mobius Capital Partners; Anthony Cheung, founder of Dragon Tech Ventures Management Limited; Sheikh Ahmed Al Maktoum from Galaxy Racer (E-sports) and Khalid Elgibali, Division President of Mastercard for Middle East & North Africa.

Commerce Adviser Abdul Razak Dawood and Foreign Secretary Sohail Mahmood. The business heads expressed keen interest to make investments in Pakistan in their respective domains and also briefed them about their companies.

Chairman STZA Amer Hashmi emphasized upon the importance of creating opportunities for the Pakistani youth in the high-potential E-sports industry.

He said it was high time that the government recognized, supported and facilitated their interests to encourage futuristic entrepreneurship opportunities.

The president later witnessed the signing of three Memoranda of Understanding (MoUs) between Pakistan’s Special Technology Zones Authority (STZA) with Mastercard, Galaxy racer (E-sports) and Shorooq Partners VC Funds.

According to MoU, the Galaxy Racer would host few the biggest E-sports tournaments in Pakistan with titles such as Tekken, PUBGM and FIFA, offering a total winning prize of US $ 100,000 USD in December.

The Mastercard signed the strategic digital country partnership with STZA in Pakistan to expand the nation’s digital economy and develop advance technology sector.

In collaboration with the STZA, Mastercard would develop Pakistan’s first cashless Special Technology Zones, which looked to develop deploy smart city solutions, support small and medium enterprises, boost artificial intelligence and cyber security capabilities and promote the use of agri-tech.

The Sharooq would contribute to the ecological venture through technological development in Pakistan.

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