Propagation of high-tech industry through research and development is the need of the hour to lift the industrial base of Pakistan at par with the regional countries, said Board of Investment Chairman Azfar Ahsan.

Speaking in a meeting of National Science and Technology Park (NSTP) Special Economic Zone (SEZ) committee on Saturday, he said SEZs were blanket policy tool to promote investment in industrial infrastructure.

“On the other hand, research and development of innovative technologies remains the key building block of such infrastructure,” he said.

On the occasion, Board of Investment Secretary Fareena Mazhar stated that international investors could easily avail the opportunity to identify and select potential locations to establish their units in the SEZs.

With operationalisation of NSTP, more investors are expected to flock to this park to incubate new technologies which will help revolutionise the industry.

She reiterated that BOI would leave no stone unturned to ensure that NSTP reached its full potential.

During the meeting, the committee approved entry of two enterprises in the SEZ.

The applicants included Hato Pakistan, a joint venture owned by Hato BV Netherlands and Ather Technologies, Pakistan with a planned investment of Rs20 million in agri-tech.

The second enterprise is Rapidev, a UAE based company with planned investment of $20 million in defence and electronic technologies.

Published in The Express Tribune, December 5th, 2021.

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