CDA, STZA Partner to Develop Islamabad’s First Technology Zone
Key Takeaways
- CDA and STZA formed a joint working group to plan a Special Technology Zone in Islamabad.
- STZA will act as the regulator, while CDA will be responsible for infrastructure and urban planning.
- The zone aims to attract hi-tech firms, startups, and innovation-driven enterprises.
- Incentives, such as tax rebates and duty exemptions, are being considered to draw investment.
- The project is a top priority for CDA Chairman Randhawa to position Islamabad as a regional technology hub.
The Capital Development Authority (CDA) and the Special Technology Zones Authority (STZA) have established a joint working group to spearhead the planning and creation of a Special Technology Zone in Islamabad. This initiative was formalized during a meeting led by CDA Chairman Muhammad Ali Randhawa and STZA Chairman Azfar Manzoor, attended by senior officials from both bodies. Under the agreed framework, STZA will serve as the regulator, managing licensing for high-tech companies, while CDA will function as the development agency responsible for all necessary infrastructure and urban planning. The working group is tasked with regularly reviewing financial and operational frameworks and submitting finalized proposals to the Federal Government for approval. The goal is to attract hi-tech firms, startups, and innovation-driven enterprises by offering dedicated space for R&D and manufacturing, potentially supported by incentives like tax rebates and duty exemptions. Chairman Randhawa stressed that developing Islamabad into a "technopolis city" is a top priority, expecting the zone to generate jobs, boost technological exports, and establish the capital as a regional technology hub.
