Government should link FDI with technology transfer: Atta


ISLAMABAD (June 08 2008): Government should link the Foreign Direct Investment (FDI) with technology transfer to bring complete know-how of the technology and benefit the economic sector of the country, said Dr Atta-ur-Rehman, Chairman Higher Education Commission (HEC) here on Saturday.

"A national Committee should be constituted to look into the matters of technology transfer for both FDI and indigenous research and development projects", Dr Attaur Rehman said while addressing the foundation stone laying ceremony of Technology Incubation Centre at new campus of the National University of Science and Technology (NUST). He also launched ST Ventures, a commercial organisation, which is being set up at NUST to facilitate and improve academic and corporate linkages.

Dr Atta-ur-Rehman urged for better facilities for the science and technology sector saying that he made efforts to get a 15-year tax holiday for Technology Parks in Pakistan, which has encouraged people. Technology Parks being set up in almost all universities of Pakistan would help connect the academia with industry and enhance the industrial activities.

He called for a political will for attracting foreign and local investors to come and invest in science and technology sector. "Government should show its willingness and seriousness in making improvements in education, Information Technology, entrepreneurship and other research and development sectors", he said. He stressed the need for establishing an International Network in Pakistan to develop links with other countries, know about their experiences and get benefits from their achievements.

He said that better law and order situation is imperative for creating conducive atmosphere for the investment in every sector. "People only invest where they feel their money and life is safe. In a peaceful atmosphere companies will feel better to launch and run their projects. "We must learn how other countries have executed their projects and how they attained economic development through science and technology", he added.

He said that he has always supported the idea of promoting entrepreneurial culture to enable transfer of knowledge and skills acquired at universities. "Unless we are able to expose ourselves to the ever demanding and competitive environment of business and industry, economic prosperity will remain only an elusive hope", he added.

He supported new business ventures in the hi-tech industries to accomplish this new agenda. It is reassuring to see an institution like NUST moving in this direction and hopefully others will also follow the same path.

Earlier, Rector of the NUST, Lieutenant General Muhammad Asghar said that the launch of NUST Business and Technology Incubation Centre and ST Ventures was a landmark event in its own right not only for NUST but also for whole nation.

"We are fortunate enough to ride the surging waves of HEC supported programmes that have blown winds of change into the corridors of higher education institutions. They have virtually generated a movement that has helped us attract the best brains of Pakistan from all over the world", he said. Rector informed that NUST had almost all the engineering disciplines, a manufacturing school, IT Department, Business School and biomedical sciences institutions and it would be able to provide the necessary expertise and skills to the entrepreneurs, launching SMEs.