Pakistan’s iTANZ Technologies Limited has signed Memorandums of Understanding (MoUs) worth around $45 million with three leading Chinese technology companies. The deals focus on artificial intelligence, robotics, digital platforms, and offshore software services. This development occurred during Prime Minister Shehbaz Sharif’s recent visit to China.
Strategic MoUs Signed in Hangzhou
iTANZ CEO Syed Asim Zafar represented the company in high-level B2B meetings in Hangzhou.
The Pakistani delegation accompanied the Prime Minister to strengthen economic and strategic ties with China. MoUs were signed with Zhejiang Xiangyue Group, Suzhou Xuqing Intelligent Technology Co., Ltd., and Shanghai Shuhai ZhiLian Digital Technology Co., Ltd. These agreements cover technology transfer, joint market development, and digital transformation initiatives.
iTANZ Technologies, listed on the Pakistan Stock Exchange, was formerly known as Zahur Cotton Mills Limited. It transitioned into IT after merging with ITANZ Technology Private Limited in 2025.
The company now specializes in software development, IT services, and consultancy.
Boost for Pakistan’s Digital Economy
The $45 million (approximately Rs12.5 billion) indicative value highlights significant future opportunities. However, the actual realization depends on final agreements, due diligence, and regulatory approvals.This partnership aligns with broader Pakistan-China cooperation under frameworks like CPEC. Experts see it as a major step toward modernizing Pakistan’s technology sector.
The deals aim to bring advanced AI and robotics capabilities to local markets. iTANZ plans to expand offshore software services and digital platform solutions. Analysts believe this will create new jobs and skill development opportunities in Pakistan. China remains a key partner for technology transfer and investment in the region.
The visit to China also focused on wider economic collaboration between the two countries.iTANZ’s inclusion in the official delegation underscores government support for IT exports.
Pakistan’s IT sector has shown steady growth in recent years. Such partnerships could accelerate this momentum significantly. The company expressed confidence in converting these MoUs into concrete projects soon.