Russian e-commerce big Yango confirms Pakistan funding plans

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An individual checks the Yango taxi app on a telephone, in Dakar, Senegal March 13, 2022. — Reuters

ISLAMABAD: Yango, which is owned by Russian tech big Yandex, has introduced its plans to spend money on Pakistan, firm’s president Anton Zykov confirmed throughout a gathering with Federal Minister for Board of Funding Chaudhry Salik Hussain, The Information reported Friday.

The digital gathering was chaired by the federal minister whereas Board of Funding (BOI) Secretary Asad Rehman Gilani moderated the assembly.

The minister lauded Yango’s willingness to spend money on Pakistan and begin its companies and likewise urged the Russian facet to discover different areas of funding within the nation. 

Hussain additionally invited the Russian delegation to contemplate investing in e-bike manufacturing in Pakistan, which presents a substantial funding alternative.

Earlier within the assembly, Zykov knowledgeable the individuals that Yango is at present working in 33 international locations throughout Africa, Europe, the Center East, and South America, providing a variety of companies, together with ride-hail, foodtech, supply, and e-commerce. 

The corporate has finalised its plans to spend money on the Pakistani market, which is able to usher in substantial overseas funding, direct and oblique job alternatives, and digitalise the transport infrastructure within the nation.

The Russian delegation expressed its delight on the optimistic response from the Pakistani facet.

The event comes days after Pakistan positioned its first order for discounted Russian crude oil underneath a deal struck between Islamabad and Moscow.

A day earlier, International Minister Bilawal Bhutto Zardari additionally met his Russian counterpart, Sergey Lavrov, on sidelines of the Shanghai Cooperation Organisation (SCO) Council of International Ministers assembly within the Indian metropolis of Goa.

The 2 overseas ministers mentioned bilateral, regional and worldwide issues of mutual curiosity and guaranteed one another of working carefully to additional deepen cooperation between their international locations within the areas of meals safety, vitality and people-to-people contact.

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