Alibaba to invest up to $400 million in Pakistan’s e-commerce industry

Alibaba to invest in Pakistan

The Global e-commerce giant, Alibaba is reportedly going to invest in the Pakistani industry. According to ProPakistani, a high-level delegation of Alibaba will visit Pakistan today, only two months after their visit to evaluate the potential of country’s e-commerce market.

The delegation would be led by the President and Director of Alibaba, Mr. Michael Evans who supervises the company’s international growth strategy and expansion plans outside the Chinese market.

The Pakistani government is hopeful that Alibaba will invest up to $400 million in various segments of the market. However, the final investment plans would be revealed after the delegation’s meeting with the concerned authorities.

Alibaba’s officials are likely to meet Prime Minister of Pakistan, Mian Nawaz Sharif, Commerce Minister, Mr. Khurram Dastagir, Minister of IT & Telecom, Ms. Anusha Rehman and among other Pakistani ministers.

In their various meetings, the delegation would discuss the issues related to finance and investment, Reportedly, they would also meet with the Mr. Muftah Ismail, Chairman Board of Investment, and also with the Chairman NADRA, Mr. Usman Yousaf Mobin.

Recently, the State Bank of Pakistan (SBP) announced that it is going to draft an e-commerce policy of the country. The move was said to attract foreign investments in Pakistan. The Chinese e-commerce giant expressed interest in the Pakistani market at World Economic Forum (WEF) 2017 when JackMa met Nawaz Sharif.

Alibaba is also rumored to acquire Daraz, one of the largest online retailer in Pakistan but no evidence can be seen right now in this regard.

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