CODE STP inks agreement with STZA for Lahore’s tallest tech tower

ISLAMABAD: In a significant stride towards advancing Pakistan’s technology landscape, CODE Science and Technology Park (CODE STP), Pakistan’s pioneering privately managed technology zone company, on Thursday signed a zone development agreement with the Special Technology Zones Authority (STZA) for their flagship project “The MARK” — a tallest tech tower– in Lahore.

This pivotal agreement underscored a collaborative effort poised to bolster innovation and spur growth within the nation’s burgeoning technology sector.

The official signing ceremony, held in Islamabad, convened the leadership teams of CODE STP and STZA, cementing a strategic alliance aimed at catalyzing progress and fostering a conducive environment for technological advancement.

With this agreement, CODE STP is poised to establish a world-class technology ecosystem anchored by “THE MARK” – envisioned as the tallest technology tower in Johar Town, Lahore. Spanning 36 stories, this architectural marvel is slated to become a focal point for tech enterprises, academia, and industry pioneers, leveraging STZA’s fiscal and monetary incentives programme designed to nurture innovation and economic prosperity across Pakistan.

Led by the prime minister of Pakistan as president of the board of governors, STZA serves as the federal regulator for Special Technology Zones (STZs) nationwide. Aligned with the Triple Helix Model of Innovation, STZA licences Special Technology Zones and technology companies, fostering collaboration among academia, industry, and government to propel the knowledge and technology sectors forward.

As part of its commitment to cultivate a thriving technology ecosystem, STZA offers comprehensive fiscal and monetary incentives for a decade to both public and private enterprises, encouraging substantial investment in Pakistan’s knowledge ecosystem.

Under the agreement, licensed zones are reserved exclusively for technology firms, benefitting from a decade-long array of fiscal and monetary advantages. STZA further streamlines business processes by offering a One-Window facility for regulatory approvals, enhancing the ease of doing business and creating a competitive environment for innovators and entrepreneurs in the global technology arena.

The signing ceremony, presided over by Aamer Saleemi, Member Zones of STZA, and Akbar Shaukat, Board Member of CODE STP, was attended by esteemed dignitaries from both organizations. Aamer Saleemi expressed resolute support for “THE MARK,” affirming STZA’s commitment to fostering transformative projects that reshape Pakistan’s technological landscape.

Akbar Shaukat, Board Member at CODE STP, hailed the agreement as a monumental leap forward for Pakistan’s tech sector, emphasizing “THE MARK” as a cornerstone of technological infrastructure that fosters collaboration between industry, academia, and research, fortified by the government’s comprehensive incentive programs.

Reflecting on the project’s potential impact, Abid Hussain, board member at CODE STP, underscored the broader significance of “THE MARK” in revitalizing Pakistan’s economy through a harmonious blend of private sector dynamism and government initiatives.

Expressing gratitude, Qaisar Rasheed, another board member from CODE STP, extended heartfelt thanks to STZA for their steadfast support in realizing this milestone achievement.