China announces to establish Textile Parks in Pakistan

ISLAMABAD: The RUYI Group from China has announced plans to set up international-standard Textile Parks in Pakistan with the support of the Special Investment Facilitation Council (SIFC).

These Textile Parks, to be established in Sindh and Punjab, are part of the China-Pakistan Economic Corridor initiative, aimed at strengthening ties and boosting economic collaboration between the two nations.

Pakistan’s exports witness 14% increase with SIFC’s support

A Memorandum of Understanding was signed between the Board of Investment and a delegation from RUYI Shandong Group during their recent visit to Pakistan.
The Chinese group expressed confidence in the efforts of the SIFC to streamline the investment process in Pakistan.

The goal of these textile parks is to increase Pakistan’s textile exports to five billion dollars and position the country as a global hub for textiles and garments. Approximately 100 major textile firms from China will be invited to invest in these parks.

These parks are anticipated to generate exports worth two billion dollars, with projections for the second phase to reach five billion dollars.

The Textile Parks will be designed to utilize solar energy and will operate with zero carbon emissions and advanced automation technology.

The policy initiatives taken in collaboration with the SIFC to improve the investment climate in Pakistan are commendable.