Punjab CM Announces Nawaz Sharif IT City in Lahore, Signs MoU to Bolster IT Sector

Punjab CM Maryam Nawaz announces Nawaz Sharif IT City to boost innovation and employment, as PCBDDA and PSEB sign MoU to strengthen IT sector competitiveness and academia-industry collaboration.

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Rizwan Shah
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Punjab CM Announces Nawaz Sharif IT City in Lahore, Signs MoU to Bolster IT Sector

Punjab CM Announces Nawaz Sharif IT City in Lahore, Signs MoU to Bolster IT Sector

Punjab Chief Minister Maryam Nawaz Sharif has announced the establishment of Nawaz Sharif IT City in Lahore to generate employment opportunities and promote innovation among the youth. The Punjab Central Business District Development Authority (PCBDDA) and the Pakistan Software Export Board (PSEB) have signed a Memorandum of Understanding (MoU) to bolster Punjab's IT sector competitiveness and encourage collaboration between academia and industry.

The MoU aims to strengthen the global competitiveness of the provincial IT sector, support local talents, and position Punjab as a hub for innovation and entrepreneurship. PCBDDA and PSEB will collaborate to close the gap between academic institutions and the IT industry, facilitate partnerships, and catalyze knowledge exchange, technology transfer, and market expansion opportunities for local IT firms.

Speaking at the event, Chief Minister Maryam Nawaz Sharif emphasized the importance of encouraging creative thinking and innovation among the youth. "The Pakistani youth have creative abilities and can surprise the world through innovation and creative thinking," she stated. Maryam highlighted that countries investing in research and development are progressing economically and that the Punjab government aims to support the creative potential of the youth.

Why this matters: The establishment of Nawaz Sharif IT City and the MoU between PCBDDA and PSEB represent significant steps towards fostering innovation, creating employment opportunities, and strengthening Punjab's IT sector. These initiatives have the potential to position Punjab as a thriving hub for technology and entrepreneurship, driving economic growth in the region.

The MoU signing ceremony was attended by prominent figures from the IT and corporate world, including the Secretary General of the Digital Corporation Organization, the Minister for State IT & Communication, and officials from PCBDDA. The agreement was signed by the CEO of PCBDDA and the CEO of PSEB, underscoring their shared commitment to creating a conducive environment for the growth and flourishing of the IT industry in Punjab.

Key Takeaways

  • CM Maryam Nawaz announces Nawaz Sharif IT City in Lahore to boost employment and innovation.
  • PCBDDA and PSEB sign MoU to strengthen Punjab's IT sector, foster academia-industry collaboration.
  • MoU aims to enhance global competitiveness, support local talent, and position Punjab as an innovation hub.
  • CM emphasizes importance of encouraging creative thinking and innovation among Pakistani youth.
  • Initiatives aim to position Punjab as a thriving hub for technology and entrepreneurship.