Alibaba

Alibaba CEO Jack Ma eyes Pakistan for investment?

Chairman of Alibaba Group, Jack Ma met with Pakistani Prime Minister (PM) Nawaz Sharif on Wednesday and expressed deep interest in investment in Pakistan.

The meeting came on the sidelines of the World Economic Forum in Davos, Switzerland.

Jack Ma said that the conglomerate was monitoring Pakistan’s economic growth and e-commerce sector.

Jack Ma said that the giant wants to support small-scale industries in developing countries. He also informed the Pakistani premier that the Alibaba Group has been facilitating 60 million companies across the globe. Whilst talking about the China-Pakistan Economic Corridor (CPEC), he added that the historic investment would promote bilateral ties between the two states.

Ma invited the Pakistani Prime Minister to visit Mr Ma’s headquarters in Guangzhou, China for further discussions.

Alibaba

Alibaba is China’s dominant player in online commerce, with its Taobao platform estimated to hold more than 90 per cent of the consumer-to-consumer market, and its Tmall platform is believed to have over half of business-to-consumer transactions.

On January 17, Chief Executive Officer (CEO) of eBay, Devin Wenig had branded emerging markets of the world the fastest growing of all in the e-commerce sector. The statement came in response to a question regarding Pakistan.