ISLAMABAD: The United States announced the mobilization of $44 million in new US-Pakistani diaspora investment at the United States Agency for International Development (USAID) ‘Invest in Pakistan’ conference here Saturday.
The conference witnessed four new Memoranda of Understanding (MoUs), with the USAID valued at $44 million, taking the commitments to nearly $200 million. The new investment commitments include SERVINZ Limited, $5 million for restoring livelihoods in flood-affected areas; Pakfoods LLC Group, NUST $9 million for technology, Jaxeri Investment Corporation, $25 million for electric vehicle local manufacturing; and Global Semiconductors Group $5 million for training youth in semiconductor and chip design technology.
US Envoy hails US-Pakistani Diaspora Investment
Addressing the closing ceremony, US Ambassador to Pakistan Donald Blome while emphasizing the valuable contributions of the U.S.-Pakistani diaspora congratulated the four diaspora partners for signing these MOUs and added that these partners were helping to unlock Pakistan’s investment potential. Blome further said that he was optimistic for fruitful outcome of these partnerships that would give support to the Pakistani economy and the people of Pakistan.
“The three themes discussed at the conference today – Artificial Intelligence, electric vehicles, and semiconductor technology investments, are key to economic growth and future prosperity of Pakistan,” he added.
The ‘Invest in Pakistan’ conference focused on expediting investment between U.S. investors and Pakistani companies. Over 300 participants attended, including US Ambassador Donald Blome, USAID Mission Director Kate Somvongsiri, Umar Saif, Minister IT, members of the US-Pakistani diaspora, and leading Pakistani business figures.
