The Board of Investment (BOI) in Pakistan has teamed up with the Chinese textile company RUYI Shandong to create high-quality textile parks in Pakistan. This partnership aims to significantly boost the country’s textile exports and generate many new job opportunities.
The main goal of this project is to increase Pakistan’s textile exports to $5 billion. It is also expected to create around 500,000 new jobs for the local workforce. This agreement was signed during a meeting between Qiu Yafu, the Chairman of RUYI Group, and Prime Minister Shehbaz Sharif.
This meeting came after Prime Minister Sharif’s recent visit to China, where discussions took place about strengthening the economic relationship between the two countries.
The textile parks will be built in the provinces of Sindh and Punjab, and they will accommodate around 100 Chinese textile companies. What sets this project apart is its commitment to sustainability. The parks will be powered by solar energy, which will help lower carbon emissions and create automated facilities with zero carbon footprints.
This eco-friendly approach is expected to have a positive effect on Pakistan’s energy consumption and will help modernize the textile industry.
Construction of these parks is planned to begin by the end of this year, with the entire project expected to be completed within three years. Once the parks are finished, they will not only increase exports and create jobs but will also help position Pakistan as an important player in the global textile market.
This collaboration between Pakistan and China highlights the growing partnership between the two nations, especially in industries like textiles and technology.
