US investment coming to Pakistan more and more every year, says Blome

ISLAMABAD: US Ambas­sador Donald Blome has said that the US is Pakistan’s largest export market, and the US investment is seen coming to Pakistan more and more every year.

He was speaking at the US-Pakistan Innovation Expo in Islamabad that showcased the success stories of US government-sponsored Pakistani startups.

Ambassador Blome said that one of the top priorities of the US government was promoting inclusive economic growth and increasing trade and investment between the United States and Pakistan.

“There is still room to grow and entrepreneurs are central to that effort. Pakistan is a countr with immense potential, but it needs innovation and technology to take it to the next level,” Blome said.

The two-day expo that ended on Sunday, provided a platform for established startups to showcase their business ideas and prototypes, and network with potential US and Pakistani venture capitalists and investors.

Two-day innovation expo provides platform for startups to showcase business ideas

Senior Adviser for the Asia Foundation Pakistan Haris Qayyum expressed appreciation for the ongoing collaboration with the US embassy and National Incubation Centre to highlight success of Pakistani startups.

He said the US-Pakistan Innovation Expo was an endorsement of Pakistan’s dynamic tech entrepreneurs. It exemplifies Pakistan-US bilateral trade, foreign direct investment and technological innovation.

“The Asia Foundation is committed to collaborative efforts supporting Pakistan’s tech ecosystem, as we continue. The Asia Foundation is honoured to partner on initiatives that value entrepreneurship and innovation. It is our goal to support Pakistan’s sustainable development and inclusive growth,” he said.

The expo featured a speaker session for venture capitalists and angel investors led by an American expert. Business leaders and investors from Pakistan, the Middle East and the United States attended the event and discussed opportunities and challenges in the Pakistani startup ecosystem.

Project Director at the National Incubation Centre Parvez Abbasi said he was thrilled to see the US-Pakistan Innovation Expo come to fruition.

He said the event was a demonstration of the power of collaboration between the two nations and the endless possibilities “that arise when we combine our talents and resources”.

The delegates at the expo showed great enthusiasm for the event and expressed confidence that it would encourage further investment opportunities and potential trade partnerships between the US and Pakistan.