ISLAMABAD - Special Technology Zones Authority (STZA) Chairman Amer Hashmi on Sunday said the new project of Islamabad Special Technology Zone will create huge business opportunities for foreign and domestic investors. 
The next five years will see an investment of about $100 million in the Islamabad Special Technology Zone, which will have a positive impact on the country’s economy where new jobs are created, Amer Hashmi said.
He said the first Technology Park in the Islamabad Special Technology Zone based on 150 acres of land in the Islamabad Capital Territory would be established soon, said a press release issued here. 
Special Technology Zones Authority and iENGINEERING Corp signed a Memorandum of Understanding (MoU) to build the first technology park in Islamabad in the Prime Minister Secretariat.
According to the MoU, both the organisations would work together to achieve high-tech industrial growth, create job opportunities, upskill the youth, and attract Foreign Direct Investments (FDI) through development of a knowledge ecosystem driven by innovation and collaboration, he said.
The chairman said that the land had been identified and approved by the Capital Development Authority (CDA) and it had been earmarked for the establishment of the Islamabad Special Technology Zone.
He said the Islamabad Special Technology Zone would include the state-of-the-art iENGINEERING Technology Park.
The Chairman, STZA said the park would develop a business campus, which would comprise of a cluster of midrise energy efficient buildings over 250,000 sq. ft in Islamabad Special Technology Zone with initial investment of $ 2 million and would create more than 2,500 highly skilled jobs and generate over $ 100 million in the next five years.
He said the park would accommodate local and foreign technology companies with Pakistani descent owners, start-ups, and tech hubs which would initially materialise up to $ 50 million of zone enterprise cumulative annual revenue for Islamabad Special Technology Zone.
The STZA has been mandated to develop a technology-driven knowledge ecosystem to encourage hi-tech innovative solutions and futuristic entrepreneurship, he said.
He informed that STZA will develop a national network of special technology zones which will change the economic outlook of Pakistan by enhancing IT exports and encouraging technology and knowledge transfer from global technology hubs.
He said that the authority has been mandated to provide legislative and institutional support to encourage investments and high-tech business in the technology zones across Pakistan.
Amer Hashmi said that the STZA has initiated the work to establish the first special technology zone in Islamabad.
He said the Islamabad Special Technology Zone will be the flagship project of the Special Technology Zones Authority.
In order to create the state-of-the-art infrastructure that can facilitate the business environment, a MoU has been signed between the STZA and iENGINEERING Corporation, he said.
While addressing the gathering, Chief Executive Officer of iENGINEERING Corporation Riaz Ahmad stated that iENGINEERING Technology Park will have the first mover advantage for the pilot technology zone of the Islamabad Special Technology Zone.
He said that it will focus on transforming cost centres into profit centres, which will significantly increase revenue capacity. 
He informed that iENGINEERING Technology Park plans to facilitate acquisition of foreign Pakistani-descent businesses by providing a mechanism for zone enterprises to invest their profits and acquire new customers and generate new revenue streams.
He further said, “that iENGINEERING Corporation has more than 20 years of unique operational experience in the technology sector in the USA and Pakistan.”
While welcoming the first Tech Park developer, Chief Executive Officer of Islamabad STZ, Aamer Saleemi assured his full support in early execution of the project.
He said that Islamabad STZ will act as a catalyst for enhancing the Information Technology (IT) exports of Pakistan and it is expected to attract more than $350 million Foreign Direct Investment (FDI) in the technology sector which will provide job opportunities to more than 200,000 youth of Pakistan.