The RUYI Group from China has revealed its plans to build high-standard Textile Parks in Pakistan, with the help of the Special Investment Facilitation Council (SIFC). These parks will be set up in the provinces of Sindh and Punjab and are designed to strengthen the economic relationship between China and Pakistan, especially under the China-Pakistan Economic Corridor (CPEC) project.
During a recent visit, RUYI and Pakistan’s Board of Investment signed a Memorandum of Understanding (MoU) to officially start the project. This initiative is aimed at increasing Pakistan’s textile exports, with a goal of reaching $5 billion. To achieve this, the project is inviting around 100 major Chinese textile companies to invest in the country.
These Textile Parks will be state-of-the-art, using solar energy and the latest automated technologies to ensure efficient operations. In the early stages, it is expected that the parks will contribute around $2 billion in exports. However, as the project grows and expands, the exports are projected to rise to $5 billion.
This project is not only focused on boosting Pakistan’s textile industry but also on encouraging sustainable development by using clean energy sources like solar power.
The involvement of large Chinese firms is expected to bring in new investments, create jobs, and drive the country’s economy forward. Over time, the Textile Parks will become an important part of Pakistan’s efforts to expand its global presence in the textile market.
