UAE delegation explores investment opportunities in Punjab’s IT sector

UAE investment

A United Arab Emirates (UAE) based group of businesses showed concern in investment in Punjab’s E-governance solutions and digital renovation projects.

Additional Director of Punjab Board of Investment and Trade (PBIT), Tipu Ahmed Sharqui told the media that an investor group from the UAE has shown profound interest in investing in Punjab.

Furthermore, councils of the Group of Companies possessed by Sheikh Ahmed Dalmook Al Maktoum, an associate of the UAE’s royal family, had a two-day visit to Punjab and met with senior government officials.

Read more: Brothers Gas of UAE to set up plant in Pakistan with $15 million investment

Tipu also informed that the delegation also visited PBIT in this respect and got familiar with the investment situation in Punjab. 

According to Tipu, the Board of Investment Chairman Fazil Asif Jah warmly welcomed the delegation whereas CEO Ahmar Malik provided a comprehensive briefing to the visiting delegation about investment opportunities in Punjab.

During the conference PBIT CEO guaranteed the delegation that the PBIT would outspread all probable assistance to them on the subject of investment and their investment preparation in Punjab would be an enjoyable experience.

In addition, Tipu also informed that actually when the PBIT delegation went to Dubai for the Dubai Expo, they had a meeting with the representatives of the company there.

“We had informed them about the scope of investment in Punjab. Later they had communicated with us through emails and now they want to invest in the IT sector of Punjab. We will also provide them with all kinds of guidance and such investments will be beneficial for Punjab,” he concluded.

Meanwhile, in other development, Karachi-based wealth management platform Elphinstone Cap is recognized as YCombinator and will be honored to be part of the incubator’s Winter 2022 batch. 

Furthermore, Karachi-based Rider and Islamabad-based Markaz Technologies were also recognized into YC, accomplishing Elphinstone the third Pakistani startup to be recognized into YCombinator’s winter batch comprising 205 startups.

All of these startups will get $500,000 in funding from YCombinator. 

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