ISLAMABAD: International mobility company, Yango, has announced its plans to invest and provide digital urban mobility services in Pakistan.
The announcement was made during a meeting with the Board of Investment (BOI) in Islamabad, which was chaired by the Federal Minister for BOI, Chaudhry Salik Hussain, via Zoom. The meeting was moderated by the Secretary of BOI, Asad Rehman Gilani.
According to officials, Anton Zykov, Vice President of Yango, informed the meeting that the company was successfully operating in 33 countries across Africa, Europe, the Middle East, and South America in the fields of ride-hail, foodtech, delivery, e-commerce, and more.
The company has now finalized its decision to invest in Pakistan, which will bring foreign investment, direct and indirect job opportunities, and digitalize the transport infrastructure in Pakistan.
Chaudhry Salik Hussain welcomed Yango’s investment and desired that the Russian side should also explore other areas of investment in Pakistan. He invited Yango to invest in e-bikes manufacturing in the country, citing a huge investment opportunity in this sector. The minister also extended his support to Yango and assured the delegation that their problems would be solved on priority.
Asad Rehman Gilani suggested that Yango should work on providing agriculture services in Pakistan, which has a vast investment opportunity. He assured the delegation that the BOI would help Yango to arrange meetings with different stakeholders to initiate its work in Pakistan.
The Russian delegation expressed pleasure at the overwhelming response from the minister and secretary BOI. Faisal Iftekhar, Head Pakistan, Yango, said that Yango’s investment would help bring sufficient foreign investment and direct and indirect job opportunities to the country.
As per the officials the investment is a significant step towards diversifying Pakistan’s economy and attracting investment in various sectors. Yango’s success in operating in different continents is a testament to their expertise in various fields.
The BOI’s support to Yango will not only help bring foreign investment to Pakistan but also digitalize the country’s transport infrastructure. The meeting was also attended by Nadeem Bashir, Director General BOI, Miral Sharif – GM Islamabad, Yango, and Arzish Azam, CEO Ejad Labs.
Overall, Yango’s investment in Pakistan is a positive development that will create job opportunities and attract foreign investment in the country. The BOI’s support and suggestions to Yango show their commitment to diversifying Pakistan’s economy and attracting investment in various sectors.
