Prime Minister Imran Khan approved Hi-Tech Special Economic Zone (SEZ) approved for NUST.
In a special vote of thanks, Lt Gen Naweed Zaman, HI(M), (Retd), Rector NUST, expressed deep gratitude to the Prime Minister and the Government for bestowing this exclusive status upon NUST, which will indeed augur well for the cause of Science, Technology and Innovation in the country. He also acknowledged the ready guidance and patronage of the BoI, which enabled NUST to achieve this milestone.
SEZs provide a number of economic incentives that are a preferred component of thriving Research and Innovation ecosystems across the world. Free Trade Zones, Export Processing Zones, Special Technology and Hi-tech Zones, etc., around the globe are some of the economic substructures that have been designed to deliver tax and import stimulants and enhance the germination and development of disruptive technologies and hi-tech entities.
National Science and Technology Park, NUSTThe first S&T-based SEZ of the country will witness the transformation of the pilot National Science & Technology Park (NSTP) at NUST (which was inaugurated by the PM in Dec 2019) into a full-blown STP with a hosting capacity of 250 industry and R&D partners, becoming the nation’s optimal platform for research and innovation. National and international companies working to tap the Fourth Industrial Revolution will now have the most diametrically complete and perfect ecosystem of the country in the form of the NSTP, thus contributing towards achieving import substitution and exports.
The award of SEZ will not only catalyze the transformation of NSTP into a national and regional economic hub but also pave the way for similar endeavors elsewhere in the country, improving our Global Innovation Index and catapulting the country among the league of leading knowledge economies of the region and the world.
After this momentous achievement, NUST is all set to invite Expressions of Interest from prospective partners for the full-scale multi-tower-based NSTP project to be launched soon.
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