Chinese Firm to Set Up Textile Parks in Pakistan, Aiming to Create 500,000 Jobs: Chinese textile giant RUYI Shandong has signed a Memorandum of Understanding (MoU) with Pakistan’s Board of Investment to establish international-standard textile parks in Sindh and Punjab. These parks aim to boost Pakistan’s textile exports to $5 billion and create 500,000 jobs.
Prime Minister Shehbaz Sharif lauded the initiative, highlighting the strengthening economic ties between Pakistan and China. The RUYI group plans to invite around 100 Chinese firms to invest in the textile parks, which will be powered by solar energy and developed as zero-carbon, automated facilities.
The parks will initially target $2 billion in exports in the first phase, eventually reaching $5 billion. Additionally, wholesale commodity centers will be established in Karachi and Lahore. Work on the parks is expected to begin by the end of the year and complete within three years, further cementing Pakistan as a hub for textiles and garments.