In a significant move to bolster foreign investment in the technology sector, Punjab Chief Minister Maryam Nawaz Sharif has formally extended an invitation to the UAE-based DAMAC Group. The invitation focuses on exploring substantial investment opportunities within the province, particularly in the realms of digital assets and emerging technologies.
High-Level Meeting and Key Agreements
The invitation was presented during a high-level meeting between the chief minister and a delegation from DAMAC Group. The delegation was led by Chief Executive Officer Amira Hussain Sajwani and Managing Director Ali Hussain Sajwani. After welcoming the group, who expressed gratitude for the warm reception, both sides engaged in substantive discussions.
A major point of agreement was to accelerate the process of tokenising both government and commercial assets. This innovative approach aims to unlock new value and investment streams. The meeting also reviewed a specific proposal for a pilot project involving the tokenisation of commercial assets located within the Nawaz Sharif IT City. The DAMAC delegation conveyed a strong and keen interest in making strategic investments across various sectors in Punjab.
Punjab: Pakistan's Technology and Investment Gateway
Chief Minister Maryam Nawaz expressed her satisfaction with Punjab's proactive adoption of new technologies and digital frameworks. She emphasized that the provincial government is actively developing Punjab as Pakistan's primary gateway for foreign direct investment (FDI) in advanced technologies and the digital economy.
Highlighting the province's robust IT foundation, she shared compelling statistics: Punjab contributes approximately 65% of Pakistan's total IT exports and stands as the country's largest IT and digital economy. Furthermore, she noted that the talent pipeline is strong, with over 25,000 IT graduates entering the job market each year.
"Lahore, Rawalpindi, Faisalabad, Multan, and Gujranwala are rapidly emerging as major technology hubs," the CM stated. She outlined the provincial government's ambitious goal to position Pakistan as a global centre for IT and digital innovation, asserting that the present moment is an opportune time for investment in Punjab, which offers vast opportunities, especially for the youth.
Showcasing Major Development Projects
On the occasion, Imran Amin, the Chief Executive Officer of CBD Punjab, provided the DAMAC delegation with a comprehensive briefing on several landmark projects. These included the CBD Quaid District Master Plan, the Serene Tower, a planned five-star hospitality tower, and a hyper retail mall.
The briefing also elaborated on the significant potential for asset tokenisation within the jurisdictions of CBD Punjab and the Ravi Urban Development Authority (RUDA). It was underscored that both CBD Punjab and Nawaz Sharif IT City are playing a pivotal role in driving the province's economic growth and are central to its future development strategy.
