16 MoUs signed for Punjab's IT Hub

LAHORE:

The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), has marked a historic milestone by signing 16 Memorandums of Understanding (MoUs) in a single day for the development of CBD NSIT City.

The event took place in the presence of Punjab Chief Minister Maryam Nawaz Sharif and witnessed CBD Punjab forming key partnerships with 12 leading Chinese companies, three prominent Turkish firms, and a notable Pakistani IT enterprise.

The MoUs were signed by the COO of CBD Punjab, Brig (redt) Mansoor Janjua, alongside officials from the partnering companies.

Distinguished attendees included Federal Minister for IT Sheza Fatima, Provincial Minister for Information Punjab Azma Bukhari, Chief Secretary Punjab Zahid Akhtar Zaman, CEO of CBD Punjab Imran Amin, foreign diplomats, members of the Punjab Cabinet, and various officials from CBD Punjab.

The global giants entering into MoUs with CBD NSIT City include Huawei, CMEC, STDC, Hainan Jinxin Technology, Tang Chinese Education, Shenzen Caiu Investment, and Uni International from China.

The Turkish firms involved are Tumas Turk Engineering, Hayat Kimya, and Silk Coat Paints. From Pakistan, the Punjab Information Technology Board (PITB) has also joined this monumental venture.

Imran Amin, CEO of CBD Punjab, highlighted the significance of these partnerships, stating, “These MoUs are not just agreements; they are a testament to the trust and confidence that the international business, IT, and education sectors have in the potential of NSIT City. We are committed to fostering a conducive environment that will fast-track the establishment and growth of Pakistan’s premier and biggest IT hub.”

The MoUs are anticipated to accelerate the development of NSIT City, which is envisioned to be Pakistan’s leading IT hub with designated districts for technology, education, and creative industries, including a film city.

The strategic alliances formed through these MoUs are expected to bring substantial foreign investment, cutting-edge technology, and advanced educational resources, setting a new benchmark for development projects in Pakistan.

The establishment of NSIT City will serve as a beacon of progress, driving forward the vision of a technologically advanced and economically vibrant Punjab.

Published in The Express Tribune, May 23^rd, 2024.