In welcoming news, the Special Technology Zones Authority (STZA) signed a Letter of Intent (LOI) with Russia’s Skolkovo Foundation to boost cooperation in the technology sector.
Important to note, the signing of the LOI took place during PM Khan’s historic visit to Russia. The Chairman of the Board Skolkovo Foundation Igor Drozdov and STZA Chairman Amer Hashmi signed the LOI. PM Khan and his Cabinet Members also witnessed the signing ceremony.
According to details, the LOI will pave a closer relationship between Pakistan and Russia. It will boost cooperation in the technology sector and establish closer business relations. Furthermore, it will foster strategic cooperation and exchanges between Russian and Pakistani scientific and technological institutions.
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Pakistan & @Russia to Boost Cooperation in Civilian Technology Sector🇵🇰🇷🇺
The historic visit of the Prime Minister of Pakistan, H.E. Mr @ImranKhanPTI, to the Russian Federation, has paved the way for both nations to undertake cooperation in many areas including technology. pic.twitter.com/TxJPBxTEzE
— Special Technology Zones Authority – Pakistan (@STZAOfficial) February 24, 2022
The Skolkovo – STZA collaboration is the latest addition to STZA’s portfolio of strategic partnerships, intended to open new doors for leading technology companies and organizations seeking to operate in Pakistan’s Special Technology Zones.
Earlier this month, STZA signed another LOI with China’s Zhongguancun Belt And Road Industrial Promotion Association (ZBRA). Under the framework of China Pakistan cooperation, ZBRA will jointly work with STZA on deepening all-around cooperation among academic institutions, R&D centers, industries, and technological enterprises of the two countries. Moreover, STZA aims to initiate a collaboration with ZBRA to promote the scientific and technological exchanges between China and Pakistan.
Read more: STZA partners with China to bring tech revolution in Pakistan
What is the Skolkovo Foundation?
To clarify, Skolkovo Foundation is a non-profit organization founded in 2010 and charged by former Russian President Dmitry Medvedev with creating a new science and technology development center in the Moscow suburb of Skolkovo.
The Skolkovo Foundation supports the Russian Skolkovo Innovation Center, a scientific and technological for the development and commercialization of advanced technologies.
According to details, the Skolkovo ecosystem has supported more than 2000 startups. Dozens of innovative projects developed by Skolkovo startups have found success in international markets. Furthermore, surveys have shown that Skolkovo startups are three times more likely to attract investment than non-members.