February 25, 2022: The Skolkovo Foundation, Russia’s principal agency for the development and commercialization of advanced technologies and the Special Technology Zones Authority (STZA) of Pakistan have signed a Letter of Intent (LOI) to enhance bilateral cooperation in the technology sector, foster business relations and increase exchanges between the scientific and technological institutions of two countries.
The LOI was inked by Mr Igor Drozdov, Chairman of the Board, Skolkovo Foundation and Mr Amer Ahmed Hashmi, Chairman, Special Technology Zones Authority during the historic visit of the Prime Minister of Pakistan, H.E. Mr Imran Khan, to the Russian Federation. Prime Minister, Imran Khan witnessed the signing ceremony.
The Skolkovo Foundation, founded in Moscow, in 2010 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 with an array of services that are necessary to roll out developments into international markets. Located at Skolkovo Innovation Center is the Skolkovo Institute of Science and Technology (Skoltech), which is listed in the Nature Index “Top-100 Young Universities” list.
The STZA’s strategic partnership with Skolkovo Foundation will pave the ways for introducing 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 also aid in establishing 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.
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