China firm plans to build textile parks in Pakistan
The Board of Investment and Chinese textile firm RUYI Shandong signed a Memorandum of Understanding (MoU) on Friday to establish international-standard textile parks in Pakistan.
This initiative aims to boost the country’s textile exports to $5 billion and create approximately 500,000 jobs. The MoU was signed during a meeting between a RUYI Group delegation, led by Chairman Qiu Yafu, and Prime Minister Shehbaz Sharif, following the PM’s recent visit to China.
The textile parks, set to be built in Sindh and Punjab, will host around 100 Chinese textile firms and will utilize solar energy, focusing on zero-carbon and automated facilities. Construction is expected to begin by the end of the year, with completion anticipated within three years
