TEHRAN – A digital economy development park will be established in Arak, the capital of Markazi Province, in the near future, the head of the provincial office of Information and Communication Technology (ICT), Ladan Mahdavi, announced, IRNA reported on Wednesday.

More than 50 startups are currently active in the field of ICT in the province, which have obtained low-interest loans from ICT Ministry, he said.

In February, a digital economy development park was inaugurated in the city of Mashhad and a digital economy development park with a capacity for 150 knowledge-based companies was established in district 22 of Tehran.

The parks are like science and technology parks and benefit from capital venture.

Digital economy refers to an economy that is based on digital computing technologies, although we increasingly perceive this as conducting business through markets based on the internet and the World Wide Web. The digital economy is also sometimes called the Internet Economy, New Economy, or Web Economy.

SB/MG