The memorandum of understandings (MoUs) were signed at the Punjab International Business Conference in Dubai with the UAE and Pakistani groups to invest in special economic zones and industrial cities across the province
The Pakistani Punjab on Sunday signed 17 deals worth more than $1 billion to attract foreign investment, build infrastructure and promote hospitality and tourism in the province. 

Out of the 17 deals, the Ravi Urban Development Authority (Ruda) managed to win trust of the investors to erect the first vertical city of Pakistan in Lahore costing $9 billion by 2035. It will collaborate with Dubai Sustainable City to develop a similar infrastructure at a 46km-long riverfront development, the world’s largest. It is also working on Masdar sustainable business model and will incorporate some of its key features in the development.

Imran Amin, chief executive of Ruda, signed a number of deals with Dreamworld Limited Company, Mastercard Asia/Pacific Pte Ltd, the Sustainable City Ravi Investment Limited and the SS International Dubai for the development of a theme park, digital payment ecosystem for Ravi City, development of innovation city, industrial park and a number of other development initiatives.

“We want to replicate the success of Dubai business model in Pakistan,” Amin told Khaleej Times.

Article first published in Khaleej Times on 21 November, 2021.

Read full article: Punjab signs 17 deals in Dubai to attract UAE investments