The United States has unveiled plans to channel more than $40 million in fresh investments from the US-Pakistani diaspora, marking a significant development at the ‘Invest in Pakistan’ conference organized by the United States Agency for International Development.
During the conference, four prominent diaspora collaborators solidified their commitment through the signing of four new memoranda of understanding (MoUs) with the USAID, collectively valued at a substantial $44 million. These agreements have bolstered the total diaspora contributions to an impressive sum, nearing the $200 million mark.
Among these noteworthy investment commitments are SERVINZ Limited, pledging $5 million to aid in the revival of livelihoods in regions affected by flooding. Additionally, Pakfoods LLC Group and NUST are injecting $9 million into technology initiatives, while Jaxeri Investment Corporation has earmarked $25 million to facilitate the local manufacturing of electric vehicles. Lastly, Global Semiconductors Group has dedicated $5 million to empower young individuals with training in semiconductor and chip design technology.
Concluding the event, US Ambassador to Pakistan Donald Blome underlined the invaluable contributions of the US-Pakistani diaspora, emphasizing their crucial role in the country’s development and growth.
