US announces mobilization of over $40m in new US-Pakistani diaspora investment

Islamabad: The United States on Sunday announced the mobilization of over 40 million dollars in the new US-Pakistani diaspora investment.

The announcement was made at the ‘Invest in Pakistan’ conference host by the US Agency for International Development in Islamabad.

On the occasion, four diaspora partners concluded four new Memoranda of Understanding with the USAID worth 44 million dollars, while increasing total diaspora commitments to nearly 200 million dollars.

The new investment commitments include 5 million dollars by SERVINZ Limited for restoring livelihoods in flood-affected areas; 9 million dollars by Pakfoods LLC Group and NUST for technology; 25 million dollars by Jaxeri Investment Corporation for electric vehicle local manufacturing; and 5 million dollars by Global Semiconductors Group for training youth in semiconductor and chip design technology.