Chinese firm to set up textile parks in Pakistan

ISLAMABAD: Chinese investment company RUYI will set up textile parks in Pakistan and will invite around 100 Chinese textile firms to invest in the facilities, a statement from the Prime Minister Shehbaz Sharif’s office said on Friday.

The first park will be inaugurated later this year and will be completed in three years.

These parks are expected to export products worth $2 billion in the first phase and another $5bn in second phase, which will create 300,000 to 500,000 local jobs, the statement said.