Chinese Company to Invest $700 Million in IT and Smart City Projects in Punjab

A Chinese company, Chengdu, plans to invest $700 million in Punjab’s Information Technology (IT) and smart city projects. The announcement was made during a high-level meeting between a Chinese delegation and Punjab Chief Minister Maryam Nawaz Sharif in Islamabad. The delegation included Chengdu’s General Coordinator for the ICT Hub, Ms. Scarlett, and Huawei’s Deputy CEO, Mr. Yu Ray. The investment aims to bring transformative initiatives to Punjab, with the Punjab government committing to provide land and buildings for the projects. One of the major developments includes the launch of an e-taxi service, along with the establishment of cloud and data centers at the Nawaz Sharif IT City in Lahore. The first e-commerce platform in Pakistan will also be established under this partnership, which will offer training to Pakistani youth in global online trading. This platform is expected to open new economic opportunities and prepare the youth for the growing digital economy. The smart city initiatives planned for Lahore include the creation of a smart control room, advanced traffic management systems, smart transport solutions, and a smart sanitation center. These projects aim to improve urban management and make the city more efficient and sustainable. In addition, Phase Two of the project will focus on the development of an artificial intelligence (AI) industry center to train youth in AI technologies. This initiative underscores the Chinese government’s commitment to capacity building and technological advancement in Punjab. Chief Minister Maryam Nawaz Sharif expressed her determination to transform Punjab into the region’s IT hub. The collaboration with Chengdu and Huawei is expected to set the foundation for a new era of technological growth in Punjab, paving the way for innovative solutions and improved urban living.