The RUYI Group of China has announced plans to establish international-standard Textile Parks in Pakistan, facilitated by the Special Investment Facilitation Council (SIFC).
These parks, set to be developed in Sindh and Punjab, are part of the China-Pakistan Economic Corridor initiative aimed at strengthening economic ties between the two nations.
A Memorandum of Understanding was signed during a recent visit by a delegation from the RUYI Shandong Group in collaboration with Pakistan’s Board of Investment. The Chinese group expressed strong confidence in the SIFC’s efforts to simplify the investment process in Pakistan.
The primary goal of these textile parks is to boost Pakistan’s textile exports to $5 billion, positioning the country as a global hub for textiles and garments. Approximately 100 major textile manufacturers from China are expected to be invited to invest in these facilities.
These parks are anticipated to generate $2 billion in exports initially, with projections to increase to $5 billion in the second phase.
Designed to operate on solar energy, the Textile Parks will incorporate zero-carbon emissions and advanced automation technologies. The SIFC’s policy measures to enhance the investment climate in Pakistan have been well received.