Uber pledges to invest $500 million in Pakistan by 2020

Sunday 14 May 2017 2 weeks ago 39   Islamabad   Print

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Report  Web desk : WEB DESK: 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 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. (01)