Chinese entrepreneurs invited to invest in Pakistan textile sector

Chinese entrepreneurs invited to invest in Pakistan textile sector

Pakistan Textile Sector News

BEIJING: Pakistan Ambassador to China, Masood Khalid Tuesday
invited the Chinese companies to take advantage of investment-friendly
policies of present government and come forward to invest in textile
and garments sectors in Pakistan.

“The government is focusing for the development of textile and
garments sectors in Pakistan as it is considered to be the backbone
of Pakistan’s economy,” he said while addressing the representatives
of about 76 Chinese companies at a road-show of Quaid-e-Azam
Apparel Park (QAAP), Sheikhupura, held here.

Welcoming the Chinese businessmen and entrepreneurs, he said,
“Your presence here not only reflects your confidence in the market
potential in Pakistan but also shows friendship with Pakistan and its people.”

Giving the details of the project, he said, it is aimed at development of
textile and garment sector in Pakistan, adding, textile sector is one of main
segments of Pakistan’s economy and Pakistan exports bulk of its textile
products to China.

Masood Khalid said, the present government has launched various mega projects for the development of Pakistan, a home of more than 200 million people.

Pakistan and China, partners in the China-Pakistan Economic Corridor (CPEC), are executing a large number of projects including energy, roads network, infrastructure, Gwadar port and new industrial zones along its route, he added.

The Ambassador apprised audience about Punjab government’s development projects and said these development projects included provision of clean drinking water, farms to city roads and a knowledge park in Lahore.

He asked the Chinese entrepreneurs to take advantage of enormous opportunities offered by the government as Pakistan particularly the Punjab province is emerging as a hub for economic activities.

“It is matter of taking interest and lead to explore the market potential of Pakistan,” he said.

About investment and working climate in Pakistan, he informed that more than 90,000 Chinese national are already working on different development projects in Pakistan, adding, the government has taken special measures for their safety and security.

While drawing the attention of Chinese companies toward the project, he said, the QAAP being established near Lahore is a big project which requires their attention.

“We are looking for good contractors for executing this project aimed at making it a good quality project besides its implementation at par international standard,” he added.

He said, Pakistan’s government has offered special incentives for the investors including the Chinese friends and added, Pakistan has strategic location and is linked with two big neighbors – China and India while it provides easy access to Central Asia and Africa.

He said, cheap raw material along with hardworking work force and managerial teams are available besides profit margins are very good in Pakistan.

“We are working to modernize the development process and all the industries have been integrated,” he added.

The Ambassador said, all the important world financial institutions have expressed satisfaction over the performance of Pakistan economy and they termed it as strong and stable.

Project Director, Shahzad Sheikh who arrived here from Pakistan to organize the road-show, said, the objective of the road-show is to invite the international contractors to participate in the infrastructure development of QAAP project.

He said, ideally located on Lahore-Islamabad Motorway at the junction of Sheikhupura, QAAP is connected through a dedicated interchange on M2, with a network of national highways to create an uninterrupted link to all major cities, sea ports and dry ports of the country.

A comfortable distance of 40 KM from Lahore, 55 KM from International airport and just 6 KM from Railways station bring the project site more close to the international market, he added.

He said, the Apparel Park will have the capacity to create 250,000 new jobs along with setting up a precedent of empowering skilled women work force.

He said the garments produced by QAAP will be exported to Europe and Latin America at a huge scale, crowding in Rs 5 billion in country’s annual GDP.

At the end, a questions-answers session was held. The Chinese businessmen and representatives asked several question from the project director and showed keen interest in the different aspect of the project.

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