MoU inked to boost e-commerce investment

PESHAWAR: The Khyber Pakhtunkhwa Board of Investment and Trade (KPBoIT) and the Hangzhou Municipal Bureau of Commerce, China, have made commitment to collaboration in the realm of e-commerce and related IT opportunities for investment in Khyber Pakhtunkhwa by the signing of a Memorandum of Understanding (MoU).

A handout said the signing ceremony took place during the China Innovation Summit, an initiative led by the CAREC that fosters cooperation, collaboration, and the promotion of e-commerce and related IT interventions.

Representing the CEO of the KPBoIT, Gul Mohammad, the board’s representative, signed the MoU with the Director of Hangzhou Municipal Bureau of Commerce. Hangzhou, known for its diverse industrial sectors such as light industry, agriculture, and textiles.

Iqbal Sarwar, the director of Business Promotion at the KPBoIT, said the MoU aims to connect Chinese investors with Khyber Pakhtunkhwa and thus facilitating the establishment of e-commerce-related facilities in the region.

Additionally, the agreement seeks to facilitate collaboration and experience sharing between local service providers and their Chinese counterparts.The communication said engagement was expected to attract investors from various countries, promoting investment in the burgeoning e-commerce sector.