LAHORE: The RUYI Group of China is establishing cutting-edge Textile Parks in Sindh and Punjab, Pakistan, under the Special Investment Facilitation Council’s guidance.
PM Shehbaz Sharif commended Pakistan’s long-standing friendship with China and expressed gratitude for RUYI’s investment, noting the company’s previous role as the first investor in the Sahiwal Coal Power Plant under the China-Pakistan Economic Corridor (CPEC).
This initiative boosts economic ties and cooperation between China and Pakistan through the China-Pakistan Economic Corridor project.
A Memorandum of Understanding was signed between the Board of Investment and RUYI Shandong Group, solidifying their commitment.
The project is anticipated to attract investment from approximately 100 Chinese textile firms. RUYI’s chairman shared that the textile parks will be zero-carbon and fully automated, powered by solar energy.
This project invites 100 large Chinese textile industries to invest, expecting $2 billion in exports in the first phase and $5 billion in the second.
The Special Investment Facilitation Council has improved Pakistan’s investment environment, addressing concerns like political instability and tax rates, to attract foreign investment and stimulate growth.
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