ISLAMABAD – The United States announced the mobilization of more than $40million in new US-Pakistani diaspora investment at the United States Agencyfor International Development (USAID) ‘Invest in Pakistan’ conference hereSaturday.
Four diaspora partners concluded four new Memoranda of Understanding (MoUs)with the USAID valued at $44 million, increasing total diaspora commitmentsto nearly $200 million.
The new investment commitments include SERVINZ Limited, $5 million forrestoring livelihoods in flood-affected areas; Pakfoods LLC Group and NUST$9 million for technology; Jaxeri Investment Corporation $25 million forelectric vehicle local manufacturing; and Global Semiconductors Group $5million for training youth in semiconductor and chip design technology.
Addressing the participants at the closing ceremony, US Ambassador toPakistan Donald Blome highlighted the valuable contributions of theU.S.-Pakistani diaspora. “I want to congratulate our four diasporapartners, SERVINZ Limited, Pakfoods LLC Group, Jaxeri InvestmentCorporation, and Global Semiconductors Group, for signing these MOUs.
You are helping unlock Pakistan’s investment potential. I look forward toseeing the benefits these partnerships will bring to the Pakistani economyand the Pakistani people,” the Ambassador said. “The three themes discussedat the conference today – Artificial Intelligence, electric vehicles, andsemiconductor technology investments – are key to Pakistan’s economicgrowth and future prosperity,” he added.
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The ‘Invest in Pakistan’ conference aimed to catalyze investment betweenU.S. investors and Pakistani companies. More than 300 participantsattended, including US Ambassador Donald Blome, USAID Mission Director KateSomvongsiri, Umar Saif, Minister IT, members of the US-Pakistani diaspora,and prominent Pakistani business leaders.
Today’s conference is one in a series of diaspora-centered conferences. Inthe past 10 months, U.S. Mission Pakistan supported the mobilization ofnearly $200 million in U.S.-Pakistani diaspora-led investments andcontributions.
