Pak-US Investment Volume to Touch $1B Mark: USAID Mission Director
USAID Mission Director has said that efforts are being Made To Increase Collaboration Between American Investors And Pakistani Companies.
Caretaker Minister for IT and Telecommunications Dr Umar Saif offered the diaspora to come and unlock Pakistan’s investment potential, he extended all his support for the “Investment in Pakistan” Conference to be held in the USA in November this year.
He said during a meeting with a high-level delegation of the US-AID Mission here on Thursday.
Senior Advisor to the Mission in the Private Sector, Diaspora Engagement & Digital Technology Ms. Kanwal Bokharey and ECON Counselor Mr. John Letvin were part of the delegation led by Mission Director Ms. Kate Somvongsiri. During the meeting, bilateral issues related to the investment of American companies in Pakistan were discussed.
Caretaker Minister for IT and Telecommunications Dr. Umar Saif told the USAID Mission that a venture capital fund is being set up for global investors with government assistance, the fund will ensure at least one-billion-dollar investment for startups.
Dr. Umar Saif further said that on the way of Pak-US trade relations, the signing of a Memorandum of Understanding (MoU) for the investment of $ 40 million at an investment conference last Saturday organized by US-AID and Silicon Valley was a big milestone.
He said Pakistan’s Information and Communication Sector is paving the way for global investment, adding that the priorities of the caretaker government include maximizing investment opportunities and providing all related incentives and facilities to global companies.
US-AID Mission Director Ms. Kate Somvongsiri said, “There is no doubt that Pakistan is a big and attractive market for investors in the IT and Telecom sector, we are trying our best to increase the collaboration between American Investors and Pakistani Companies.
She extended a special invitation to caretaker IT Minister Dr. Umar Saif to attend the investment conference to be held in the United States in the first week of November this year.Huawei is eying investment in 5G Technology in Pakistan
It is worth mentioning here that the 2nd part of the ‘Invest in Pakistan’ conference in collaboration with USAID and the Organization of Pakistani-American Entrepreneurs North America (Silicon Valley) aimed to catalyze investment between US+Pakistani diaspora and Pakistani companies.
