International Ride Hailing and E-Commerce Service Yango is Investing in Pakistan

Yango, an international company operating in South America, Europe, the Middle East and Africa, has officially announced its intentions to invest in Pakistan.

This confirmation came from Anton Zykov, President of Yango, during a meeting with Chaudhry Salik Hussain, the Federal Minister for the Board of Investment.

The meeting took place virtually and was chaired by the federal minister with Asad Rehman Gilani, the Secretary of the Board of Investment (BOI), moderating the discussion.

During the meeting, Minister Hussain appreciated Yango’s decision to invest in Pakistan and commence its services. Additionally, he encouraged them to explore further investment opportunities in the country.

Hussain also extended an invitation to the Russian delegation to explore investment prospects in e-bike manufacturing within Pakistan. This sector presents a significant opportunity for investment, the minister said.

Zykov provided an update to the participants regarding Yango’s operations. He mentioned that Yango is currently active in 33 countries across Africa, Europe, the Middle East, and South America, offering an extensive array of services such as ride-hailing, food delivery, e-commerce, and more.

Yango has solidified its plans to invest in the Pakistani market, which will result in substantial foreign investment, create both direct and indirect job opportunities, and contribute to the digitalization of the country’s transportation infrastructure.

The Pakistani side received a positive response from the delegation, which expressed its delight during the discussions.

This development follows Pakistan’s recent placement of its inaugural order for discounted Russian crude oil, as part of an agreement between Islamabad and Moscow.