SIFC’s Promotion of the Textile Industry: Chinese Companies Reveal Their Intentions To Establish Plants In Pakistan

Two significant Chinese businesses have declared plans to establish operations in Pakistan to produce raw materials for the textile industry, thanks to SIFC’s assistance.

In this sense, China’s Rainbow Industries Limited and Shao Xing Chemical Industry are about to establish a joint venture that will aid in the revival of the textile industry.

In order to provide reasonably priced raw materials for the regional textile sector, the two corporations are anticipated to invest millions of dollars in these initiatives.

The government is acting to address these concerns as rising energy tariffs present a serious threat to foreign investment and the nation’s textile industry.

A two-day show was arranged by the “rainbow group” and the “Punjab dyes and chemical merchants association” to support the rebirth of the textile sector.

More than 300 exhibitors from businesses in China, Malaysia, Turkey, and Iran attended the two-day Nine Color and Chem Expo.

Discussions about enhancing industry practices were facilitated by the exhibition between prominent corporate leaders and industry stakeholders.

Furthermore, the federal government has previously made public a 10-year program for foreign investors to import machinery duty-free and the creation of units in special economic zones.

Chinese investment is expected to boost the textile industry and provide cutting-edge technologies to Pakistan with the help of SIFC.