Industry News

By Zafar Hussain

Hangzhou, May 24 (China Economic Net) - Prime Minister Muhammad Shehbaz Sharif visited the headquarters of Alibaba Group in Hangzhou on Sunday, where he was warmly received by Chairman Joe Tsai. Senior ministers and officials of the Government of Pakistan and top executives of Alibaba Group were also present.

On the occasion, the Prime Minister and Chairman Joe Tsai witnessed the signing and exchange ceremony of several strategic Memoranda of Understanding (MoUs) and agreements between Alibaba Group and Pakistani public and private sector entities. These are aimed at accelerating Pakistan’s digital transformation and technological advancement in partnership with Alibaba Group.

On the special initiative of the Prime Minister, Chairman Joe Tsai agreed to sign a comprehensive strategic framework agreement between the Government of Pakistan and Alibaba Group.

The framework aims to accelerate Pakistan’s digital transformation through initiatives in AI, cloud solutions, digital trade, SME empowerment, fintech, and healthcare innovation.

The Prime Minister welcomed Alibaba’s long-term commitment to partnering with Pakistan and termed the signing of this partnership as an important milestone in strengthening Pakistan-China economic and technological cooperation.

The agreements and MoUs signed during the visit include:

AI & Cloud Solutions: Pakistan’s Ignite and Alibaba Cloud will collaborate to develop localized AI models for Urdu and regional languages, launch nationwide skills development programs for 500,000 individuals, and co-host AI hackathons and innovation initiatives.

Healthcare Technology & Embodied Intelligence: DAMO Academy and Sky47 will deploy AI-powered disease screening systems across major Pakistani cities, while DAMO Academy and Ignite will jointly develop embodied intelligence capacity-building programs at Pakistani universities.

SME Growth & E-Commerce Expansion: Alibaba and SMEDA will onboard at least 2,000 Pakistani SMEs to a dedicated “Pakistan Pavilion,” enabling them to benefit from AI-powered business tools and enhanced access to international markets.

Financial Inclusion: Koko Tech will introduce a Buy Now, Pay Later (BNPL) solution in Pakistan supported by an initial investment of USD 3 million to promote financial inclusion and digital commerce.

Prime Minister Shehbaz Sharif expressed confidence that these agreements would open new avenues for investment, innovation, employment generation, and technological cooperation between Pakistan and China, while positioning Pakistan as an emerging regional hub for the digital economy.