ISLAMABAD: The RUYI Group of China has announced plans to establish internationally standard Textile Parks in Pakistan, facilitated by the Special Investment Facilitation Council (SIFC).
These parks, to be located in Sindh and Punjab, are part of the China-Pakistan Economic Corridor project, aimed at strengthening economic cooperation and enhancing bilateral relations between the two countries.
A Memorandum of Understanding was signed between the Board of Investment and a delegation from the RUYI Shandong Group during their recent visit to Pakistan. The Chinese group expressed confidence in the SIFC’s initiatives to simplify the investment process in the country.
The objective of these textile parks is to boost Pakistan’s textile exports to five billion dollars and position the country as a global hub for textiles and garments. Approximately 100 large textile companies from China will be invited to invest in these parks.
Expected to generate exports worth two billion dollars initially, these parks aim to reach five billion dollars in the second phase. Designed to operate on solar energy, they will utilize zero-carbon and advanced automated technology. The policy measures implemented in collaboration with the SIFC to improve the investment climate in Pakistan are commendable.
