Alibaba expresses interest to invest in e-commerce sector of Pakistan
Chinese e-commerce giant Alibaba’s Chairman Jack Ma showed interest in investing e-commerce field of country. Delegation is led by Max Bittner who called on Finance Minister Senator Ishaq Dar and expressed his interest regarding the investment in e-commerce sector of Pakistan.
Alibaba is a group of Chinese-American e-commerce Company. Finance Minister appreciated that Alibaba is one of the leading companies of the world. He told that there was a great emphasis on increase role of e-commerce in global trade.
Minister further told that e-commerce sector of Pakistan is growing faster by passing days. He said that e-commerce sector is doubling in size with each coming year and it is estimated to surpass $1 billion in 2020.
He said Pakistan has already introduced 3G and 4G technologies in country to ease its residents. Minister remarked that almost 11% of citizens use mobile phones for financial transactions. In South Asia Pakistan is leader in mobile banking transactions.
He appreciated and welcomed Alibaba Group’s interest in investment. Jack Ma first expressed his intention for investment in a meeting with Prime Minister Nawaz Sharif.
Dar also welcomed Alibaba Group to invest in Pakistan’s digital trade industry.
The delegation was impressed by Pakistani progress in the field of IT, telecom and broadband penetration. The growing industries provide great opportunities for entrepreneurs and companies.