Shenyang Economic and Technological Development Area (SEDA) of China and the Special Technology Zones Authority (STZA) of Pakistan have signed a Letter of Intent (LOI) to boost technology sector cooperation between the two organizations. Established in 1988, SEDA is a production hub of major biotech & automobile organizations including BMW Group, Neusoft, Pfizer, NCR, and IKEA. Speaking at the virtual ceremony, Mr Zhao Yongsheng, the Director of the Management Committee of SEDA highlighted their successes. Elaborating further, he revealed that SEDA hosts the largest manufacturing facility for BMW in the world, while 84 fortune 500 companies from all over the globe are operating in SEDA in high-tech manufacturing, automotive, research, and development areas, and next-generation information He expressed his gratitude to Mr Moin ul Haque, Pakistan’s Ambassador to China, and the leadership of SEDA for enabling cooperation between STZA and SEDA and expressed his support for implementing the shared vision.
He hailed the strong relationship between China and Pakistan and pledged his organization’s resolute support to cooperate with STZA in areas of innovation, entrepreneurship, human capital development, and digital economy through the integration of science, technology, and economy. Speaking on the occasion, the Chairman of STZA Mr Amer Hashmi stated that Pakistan’s technology sector due to its rapid growth offers globally competitive opportunities for Chinese partners and investors. He highlighted that Pakistan has a unique demographic advantage, as almost 64% of its population consisted of youth and sees great potential in working with SEDA through STZA’s dedicated China Desk to streamline cooperation with the Chinese technology sector.