Special Technology Zone Authority and CODE STP Sign Development Agreement for “The MARK” Project

DTD-March 1, 2024

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Special Technology Zone Authority and CODE STP Sign Development Agreement for "The MARK" Project

“The MARK,” envisioned as the tallest technology tower in Johar Town, Lahore, is set to establish a world-class technology ecosystem.

Islamabad: A significant milestone was achieved in Pakistan’s technology sector as the Special Technology Zone Authority (STZA) and CODE Science and Technology Park (CODE STP) signed a Zone Development Agreement for “The MARK” project in Lahore. This landmark agreement, aimed at fostering innovation and economic growth, was celebrated at a ceremony held in Islamabad, attended by key leaders from both organizations.

“The MARK,” envisioned as the tallest technology tower in Johar Town, Lahore, is set to establish a world-class technology ecosystem. Under the agreement, CODE STP will benefit from STZA’s fiscal and monetary incentives program, aimed at attracting significant investment and promoting innovation in Pakistan.

STZA, led by the Honorable Prime Minister of Pakistan, serves as the federal regulator for Special Technology Zones (STZs) across the country. The authority’s commitment to cultivating a thriving technology ecosystem is evident through comprehensive fiscal and monetary incentives offered to both public and private enterprises.

The signing ceremony, attended by notable dignitaries, saw the official endorsement of the development agreement by Mr. Aamer Saleemi, Member Zones of STZA, and Mr. Akbar Shaukat, Board Member of CODE STP. Speaking at the event, Mr. Saleemi expressed full support for CODE STP’s transformative endeavor, while Mr. Shaukat hailed the agreement as a pivotal step in elevating Pakistan’s tech sector.

“The MARK” project is envisioned as a collaborative ecosystem for industry, academia, and research to thrive, with the government’s incentive programs playing a crucial role in sculpting a resilient economy and propelling GDP growth. Reflecting on the project’s potential impact, Mr. Abid Hussain, Board Member at CODE STP, emphasized its role in sustainable economic revitalization.

Mr. Qaisar Rasheed, another Board Member from CODE STP, extended gratitude to STZA for their unwavering support in realizing this milestone. The agreement signifies a strategic partnership between the public and private sectors to drive technological innovation and economic development in Pakistan.

For more information about the “The MARK” project and other initiatives by STZA, visit www.stza.gov.pk. For specific information related to the project and CODE STP, visit https://markstp.com.