An MoU (Memorandum of Understanding) has been inked between the Chief Minister of IT Sindh, Dr. Sikandar Ali Shoro and the Ministry of Industries and Information Technology for the formation of Pak-China IT industrial Park in Sindh. This development came after China Pakistan Economic Corridor (CPEC) agreement was signed between the two countries. Subsequently, it was decided much earlier that one IT industrial park would be established in each province of Pakistan.
While expressing his positive stance about the development, Dr. Sikandar Ali stated that the industrial park would help in promoting IT culture in Sindh. In addition, it will also polish the skills of IT graduates in the province. Furthermore, he ensured strengthened and perpetual strong bonding between the people of Sindh and China. The minister also added that they decided to promote, support, exchange ideas and views, experiences and knowledge in the field of IT and industrial development.
This is not the first IT Park which is announced. Earlier, Islamabad became the first city where an IT industrial park would be established.
Islamabad IT Industrial Park
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 construction of first IT Park which was announced for Islamabad started some 1.5 years ago. It is forecasted to be completed in 10 years by 2025. The development cost for the IT Park in Islamabad is close to $1.5 billion and it will go through 3 phases:
Phase 1: 3 years
Phase 2: 4 years
Phase 3: 3 years
The vital functions of an IT industrial park are:
1. Providing an exhibition and developmental platform for academia and industry (local and international)
2. Developing knowledge-based enterprises by undertaking research based routes to the development and commercialization of ideas and technologies
3. Acting as a knowledge provider by establishing university research and education infrastructure, applied research laboratory facilities by public bodies at the Technology Park
4. To be a dynamic business and trading platform for local and international industries
5. Highlighting Pak-China commodities in order to provide stimulus to the existing collaborative ventures while simultaneously encouraging new linkages
6. To act as a wholesale and retail market
7. Providing financial support services like establishing venture capital entities, regional development agencies and/or banks
8. Delivering modern e-commerce platform keeping up with modern and updated global trends
9. Acting as an investment and financing platform for fresh startups and technologies
10. Setting up business incubators and business development centers, both for male and female entrepreneurs.
Source: Brecorder
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