Saturday, 27 May 2017

Uber pledges to invest $500 million in Pakistan by 2020

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LAHORE: Ride-hailing technology giant Uber has pledged to invest an additional $500 million to grow its operations in the country, the company revealed on Saturday. The announcement came a week after Pierre-Dimitri Gore-Coty took charge of the company s Europe, Middle East and Africa division.

The Uber team and Gore-Coty had a meeting with Chairman Federal Board of Investment Dr. Miftah Ismail, on Thursday in Islamabad as they discuss the expansion of the company in Pakistan. It was declared through a press released by the company that Uber will invest $500m by 2020. “We will continue to work closely with the government as Pakistanis benefit from reliable, affordable and safe transportation like Uber,” said Pierre-Dimitri Gore-Coty as he talked about Uber’s investment plans for Pakistan.

He professed that Pakistan is a key market for Uber and which is why we are channelling such significant investment to the country. While sharing his thoughts about the investment, Dr Ismail said, “Pakistan has a strong economy and a rising middle class that can benefit tremendously from Uber’s innovative technology.”

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