Chinese investment company RUYI is set to establish textile parks in Pakistan, inviting around 100 Chinese textile firms to invest in these facilities. According to a statement from Prime Minister Shehbaz Sharif’s office, the first park is scheduled to be inaugurated later this year and is expected to be completed within three years.
The parks are projected to generate exports worth $2 billion in the first phase, followed by an additional $5 billion in the second phase. This initiative is anticipated to create between 300,000 to 500,000 local jobs.
Pakistan and China have maintained a close alliance, with Islamabad relying significantly on Beijing for development and economic projects. The textile parks will utilize zero-carbon automatic technology powered by solar energy. RUYI also operates a coal power plant in the Sahiwal district of Punjab.
As part of the $65 billion China-Pakistan Economic Corridor (CPEC) initiative, Beijing has been actively developing road, rail, and port infrastructure in Pakistan under President Xi Jinping’s Belt and Road Initiative (BRI).
