Yango, a company owned by Russian tech giant Yandex, has confirmed its intention to invest in Pakistan, as announced by the company’s president, Anton Zykov, during a meeting with Federal Minister for Board of Investment, Chaudhry Salik Hussain.
The virtual meeting was chaired by the federal minister, while the moderation was handled by Asad Rehman Gilani, Secretary of the Board of Investment (BOI).
Hussain praised Yango for its willingness to invest in Pakistan and commence its services. He also urged the Russian representatives to explore other investment opportunities within the country.
During the meeting, Hussain extended an invitation to the Russian delegation to consider investing in e-bike manufacturing in Pakistan, highlighting the significant investment potential in this sector.
Zykov informed the participants that Yango is currently operational in 33 countries across Africa, Europe, the Middle East, and South America. The company offers various services, including ride-hailing, food delivery, and e-commerce.
Yango has finalized its plans to invest in the Pakistani market, which will bring substantial foreign investment, create direct and indirect job opportunities, and contribute to the digitalization of the country’s transportation infrastructure.
The Russian delegation expressed their satisfaction with the positive response from the Pakistani side.