It is reported that Uber is going to invest 500 million dollars in giving a rapid growth to its business in Pakistan.
According to the reports, the financial backing is supported and accelerated after the arrival of Uber’s Head of Europe, Middle East, and Africa, Pierre-Dimitri Gore-Coty.
On Thursday, in a meeting with the Chairman Federal Board of Investment Dr. Miftah Ismail, the Uber Team and Gore-Coty discussed the expansion of Uber in Pakistan and also discuss the reinforcement of the company’s dedication to market through the additional contribution of 500 million dollars by 2020.
While commenting on the Uber’s investment plans for Pakistan, Gore CCoty stated that:
“We will continue to work closely with the government as Pakistanis benefit from reliable, affordable and safe transportation like Uber. We are committed to not only providing the best solution of convenient reliable transport but also want to contribute to the economy of Pakistan by creating thousands of work opportunities and overall economic empowerment for the people and state of Pakistan. Pakistan is a key market for Uber which is why we are channeling significant investment to the country.”
Currently, Uber is performing its operation in five cities across the country, these cities are Karachi, Lahore, Islamabad, Rawalpindi and Hyderabad.
Chairman Federal Board of Investment, Dr. Ismail said:
“We are pleased to meet Uber’s management and welcome their proposal for significant investment that aims to create over 250,000 economic opportunities for Pakistanis. Pakistan has a strong economy and a rising middle class that can benefit tremendously from Uber’s innovative technology. Since March 2016, Uber has been operating in Pakistan, providing affordable and reliable transportation while creating tens of thousands of economic opportunities for Pakistanis”.
The company has been taking steps to improve lifestyles and is also there to produce economic opportunities for over 250,000 Pakistanis.
The company has also planned to become a partner with the government on regulation, Uber will also work with all other private organizations for providing ongoing training through initiatives such as a partnership with Punjab Skills Development Fund(PSDF).
During a short visit to Lahore, Gore-Coty has also signed MoU with PSDF for providing training and economic training to the youth in Punjab.
“Uber has been committed to growing its footprint in Pakistan since its launch last year, creating thousands of economic opportunities in the process.This latest investment, as well as other MoUs we have signed recently, illustrates that Uber is dedicated to expanding into Pakistan in a way that is relevant and beneficial to the local economy. I look forward to continuing to work with the government, business and local driver-partners to grow Uber to have an ongoing, positive and sustainable impact in Pakistan”