Friday, Prime Minister Shehbaz Sharif inaugurated the group’s special economic economic area (SEZ) and praised an investment of $ 100 million by the Chinese clothing giant, Challenge Fashion Private Limited, aimed at stimulating textile exports from Pakistan and industrial capacity, reported Radio Pakistan.
Speaking during a meeting with a delegation from the Chinese group, led by President Huwang Weiguo, he expressed Pakistan’s commitment to raise his strategic and economic partnership with China for more heights.
“Pakistan and China enjoy a proven friendship that has been terminated with all challenges,” said Prime Minister Shehbaz. “We are happy to see our economic relations strengthen and we welcome more and more Chinese industries to set up operations in Pakistan,” he added.
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Sharif has praised the continuous confidence of the Chinese company in the Pakistani market, noting that the Challenge fashion group has already invested $ 17 million in the country since 2014. The new special economic zone, he said, will serve as a model for sustainable industrial development, for the facilitation of technology transfer, improvement of skills and job creation.
He ordered the relevant authorities to extend all the support necessary to ensure the rapid operationalization of ZES and reaffirmed the accent put by the government on the advancement of the industrial dimension of the Chinese-Pakistani Economic Corridor (CPEC).
The PM also highlighted Pakistan’s lively interest in learning from China’s expertise in the textile sector and announced that a China-Pakistan Business to-Business conference would soon be in China to encourage the collaboration of the private sector.
Briefing the first, the Challenge group delegation shared that the investment of $ 100 million in the next five years should generate textile exports worth $ 400 million. President Weiguo thanked the PM for warm reception and hospitality, saying that the group was determined to deepen its commitment with the growing textile sector of Pakistan.
