ISLAMABAD: The Chairman of China’s RUYI Group, along with his senior management team, visited the Special Investment Facilitation Council (SIFC) in Islamabad on Sept 20, to announce their plans to establish two export-oriented Green (Zero Emission) textile cities in Lahore and Karachi.
Jamil Qureshi, Secretary of SIFC, stated on Friday that the group will collaborate with 25 leading companies from the China Textile Council and China Garments Association. With an anticipated investment of around USD 5 billion, the project is expected to generate significant annual value and boost Pakistan’s textile exports by up to USD 10 billion.
Earlier, a nine-member delegation from RUYI Group, led by Chairman Qiu Yafu, met with Prime Minister Muhammad Shahbaz Sharif. The group plans to establish international standard textile parks in Pakistan, aiming to increase the country’s textile exports and position Pakistan as a global textile and garment hub. These textile parks are projected to create employment opportunities for 300,000 to 500,000 locals.
The prime minister praised the enduring friendship between Pakistan and China, noting that their economic ties grow stronger each day. He welcomed the Chinese textile group to Pakistan, commending their investment in the country’s textile sector. He also highlighted that this firm was the first investor in the Sahiwal Coal Power Plant, a project under the China-Pakistan Economic Corridor (CPEC). The meeting also decided to form working groups in Islamabad and Beijing to address issues between Pakistan and the Chinese enterprises.
The Chinese textile group is a large-scale Sino-foreign joint venture enterprise with diversified shareholders. It boasts the largest woollen garment and cotton dyeing industry chain in China and consistently contributes to the textile industry through its advanced technology. Currently, the group’s brand matrix includes more than 6,000 stores worldwide, operating in 84 countries and regions, making it the most influential Chinese enterprise in the global fashion field. –Agencies
