ISLAMABAD (TDI): Chinese Ruyi Shandong Group has planned to establish international-standard Textile Parks in Pakistan, with support from the Special Investment Facilitation Council (SIFC).
The RUYI Group of China has announced plans to set up Textile Parks in Pakistan.
These parks will be located in Sindh and Punjab and are part of the China-Pakistan Economic Corridor (CPEC) initiative, aimed at strengthening economic ties between the two countries.
Chinese Company to Establish Textile Park
A Memorandum of Understanding (MoU) was signed between the Board of Investment and a delegation from RUYI Shandong Group during their recent visit to Pakistan.
Read More: CPEC Draws $25.4 Billion Chinese Investment in 10 Years
The Chinese group expressed confidence in the SIFC’s efforts to simplify the investment process in the country.
The textile parks aim to increase Pakistan’s textile exports to $5 billion, positioning the nation as a global hub for textiles and garments.
About 100 large Chinese textile firms are expected to invest in these facilities.
Initially, the parks are projected to generate $2 billion in exports, with the potential to reach $5 billion in a second phase.
Also Read More: Chinese Textile Plants in Pakistan
Designed to operate on solar energy, these parks will feature zero-carbon emissions and advanced automation technologies.
The collaborative measures by the SIFC to improve the investment climate in Pakistan have been positively received.
