Pakistani ambassador hails Egyptian start-ups, vows support for their investments in Pakistan

Ahram Online , Tuesday 7 Dec 2021

Pakistani Ambassador to Cairo Sajid Bilal has lauded the efforts made by Egyptian start-ups investing in Pakistan, voicing his country’s full support for further Egyptian investment in the Asian country.

Pakistani Ambassador to Cairo
Pakistani Ambassador to Cairo Sajid Bilal meets with representatives from Swvl, Trella, Paymob, Orcas, Kashat, and E-Scapes. Pakistan s Embassy in Egypt.

Bilal made the remarks in a meeting with the COOs and representatives of prominent Egyptian start-ups with current investment interests in Pakistan, a statement by the embassy read on Monday.

The guests included representatives from the ridesharing company Swvl, trucking marketplace Trella, mobile payment platform Paymob, learning platform Orcas, nano financial service provider Kashat, and software solutions company E-Scapes.

These start-ups have brought millions of dollars of investment to Pakistan, the embassy said.

During the meeting, the guests expressed appreciation for the regulatory regimes and the availability of a talented workforce in Pakistan, the embassy said.

Swvl is the largest bus ride-sharing application in Pakistan, the embassy said, while Trella was launched last year in the country.

Paymob is looking to expand its payment solutions across Pakistan through its point-of-sales operations in the coming months and Orcas is also looking towards the Pakistani market for operations, the embassy added.

In a visit to Cairo in February, Pakistan’s Foreign Minister Qureshi Shah Mahmood Qureshi invited Egyptian businessmen to invest in his country, highlighting the business-friendly incentives offered by the Pakistani government.

The FM highlighted promising investment opportunities in Pakistan in energy, housing, and health.

In an interview with Ahram Online, Qureshi said Pakistan looks forward to establishing collaborative mechanisms to promote trade and economic cooperation with Egypt as a pivot for Pakistan’s “Engage Africa” policy.

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