Islamabad, 2 August 2022 (TDI): The Special Technology Zones Authority (STZA) of Pakistan and the Shenyang Economic and Technological Development Area (Seda) of China have signed a Letter of Intent to boost technology sector cooperation.

This letter will increase collaboration between the two entities in the technology sector.

Zhao Yongsheng, Director of the Management Committee of SEDA, highlighted the company’s accomplishments at the virtual meeting. He further added that SEDA is home to 84 Fortune 500 companies worldwide, including the largest production site for BMW.

Also read: China, Pakistan discuss technological cooperation

Further, Zhao praised the close ties between China and Pakistan and promised that his organization would work with the STZA to encourage innovation, entrepreneurship, human capital development, and the digital economy by fusing the fields of science, technology, and business.

The Chairman of STZA, Amer Hashmi, noted during the event that Pakistan’s technology sector presents prospects for Chinese partners and investors due to its rapid expansion and competitiveness on a global scale.

He emphasized that Pakistan had a special demographic advantage because over 64% of its population was young. He also saw enormous potential in collaborating with Seda through the STZA’s dedicated China Desk to expedite engagement with the Chinese technology sector.

Amer Hashmi commended Seda’s leadership for fostering cooperation between the STZA and SEDA, as well as Pakistan’s ambassador to China, Moinul Haque, and he voiced his support for carrying out the two organizations’ common vision.

Shenyang Economic and Technological Development Area (SEDA)

SEDA has been working since 1988 and is the Shanxi Industrial Corridor’s beginning point. It serves as a production base for numerous well-known biotech and auto companies, including the BMW Group, Neusoft, Pfizer, NCR, and Ikea.

Special Technology Zones Authority

The STZA provides institutional and legislative assistance for the growth of Pakistan’s technology industry. It provides top-notch physical and digital infrastructure and a regulatory framework through an ecosystem strategy, which may propel Pakistan into a technology-driven future.