CM eyes global support for uplift

Chinese group announces $50m fund for tech startups in Punjab

LAHORE:

Hailing agreements signed at the Punjab Investment Conference with Chinese Companies in the fields of information technology, environment and green energy, Chief Minister Maryam Nawaz Sharif has termed it an important step towards global partnership for economic development in the province.

She noted, "Under an agreement with the Bank of Punjab, Gobi Partners has announced a plan to establish a $50 million investment fund to support technology startups in Punjab. The aim of the agreement is to promote a financial system for startups and SMEs in Punjab."

The Gobi Fund will support businesses through loan provision, equity investment, financial solutions and mentorship programmes.

The chief minister said the fund would strengthen businesses in Punjab and ensure sustainable development in the region through digital economy by helping Punjab develop technology and create regional leaders in entrepreneurship.

She said, "Chinese company Solar N Plus and the Punjab government have signed an MoU for the promotion of solar technology in the province. The Chinese company will work to establish a centre in Punjab and introduce innovative solar technology projects to promote green energy."

Chief Minister Maryam Nawaz said , "The conference has provided the prospective investors with all the needed information on Punjab's unique economic incentives."

According to an official statement, the participants said Punjab had surpassed regional and global standards in promoting investment due to tax exemptions, special industrial zones and other facilities.

The promotion of sustainable and long-term partnerships between the Punjab government and Chinese businesses was discussed at the conference.

The Punjab Investment conference was hosted in Shanghai by Gobi Partners, a leading venture capital firm.

The event showcased Punjab's commitment to fostering innovation, sustainable development and global collaboration.

Under a memorandum of understanding, Solar N Plus will explore setting up a facility in Punjab, conduct feasibility studies, support local capacity building and introduce advanced solar technologies for sustainability and modernisation.

An MoU between Punjab government and the Tianjin Capital Environmental Protection Group (TJCEP) focused on urban development and environmental management projects. It outlined collaboration on waste management, water treatment, localisation of environmental machinery and pollution reduction in urban areas like Lahore.

As Chief Minister Maryam Nawaz Sharif left for Pakistan after completing her hectic visit to China, she was seen off at the airport by the foreign affairs director and other senior officials.

She paid an eight-day visit to the neighbouring country on the invitation of the Communist Party of China. Senator Pervaiz Rashid, Senior Provincial Minister Marriyum Aurangzeb, Information and Culture Minister Azma Zahid Bukhari, Transport Minister Bilal Akbar Khan and Agriculture Minister Ashiq Kirmani accompanied her.