Islamabad, In a significant move towards bolstering Pakistan’s startup ecosystem, Tri-Ri Asset Management (TRAM) and Tingo Group have pledged investments totaling $110 million. This commitment was announced during a high-profile meeting which included Dr. Kousar Abdullah Malik, the Federal Minister for National Food Security and Research, and key figures from the investment and technology sectors.
According to a news release by the Press International Department, the meeting, led by Khyber Pakhtunkhwa’s Minister for Science and Technology, Dr. Najibullah, and Chairman Pakistan Science Foundation, Dr. Shahid Mahmood Baig, saw the Chief Investment Officer of TRAM, Asad Ali, and the CEO of Tingo Group, Dozy Mmbousi, pledge substantial support to the burgeoning industry. Specifically, TRAM committed to a $100 million investment, while Tingo Group is set to invest $10 million.
Dr. Kousar Abdullah Malik lauded the incoming investments and acknowledged their transformative potential in stimulating growth and innovation across a range of sectors in Pakistan. While appreciating the backing from renowned entities in the business realm, Dr. Malik underlined the significance of such collaborations to further the goals of the Ministry of National Food Security and Research. He assured that the Ministry is dedicated to efficiently using all resources to facilitate and accelerate these investment ventures for the nation’s welfare.
Furthermore, Dr. Malik emphasized the pivotal role of the Special Investment Facilitation Council (SIFC) in ensuring that these projects are carried out promptly and effectively. By doing so, the council aims to guarantee that the benefits of these projects extend beyond investors to the broader populace.
Expressing gratitude, the Provincial Minister for Science and Technology in Khyber Pakhtunkhwa, Dr. Najibullah, commended Dr. Malik’s consistent enthusiasm and dedication towards nurturing collaborative endeavors. The meeting epitomizes a hopeful stride towards a prosperous future for Pakistan, propelled by trailblazing investments and joint ventures in the realms of science, technology, and beyond.