In a major move to boost Pakistan’s textile exports, the Board of Investment (BOI) has signed a Memorandum of Understanding (MoU) with China’s RUYI Shandong. This collaboration aims to establish cutting-edge textile parks in Sindh and Punjab, with the goal of increasing Pakistan’s textile exports by $5 billion and creating around 500,000 new jobs.
The MoU was signed during a meeting between RUYI Group’s Chairman, Qiu Yafu, and Pakistan’s Prime Minister Shehbaz Sharif, following the Prime Minister’s recent visit to China. The parks are part of a larger effort to strengthen the economic ties between the two countries.
What makes these parks unique is their focus on sustainability. Powered by solar energy, they will feature zero-carbon, automated facilities, setting new standards for environmental responsibility in the textile industry. By utilizing solar energy, the parks will help lower carbon emissions and contribute to Pakistan’s renewable energy goals.
Around 100 Chinese textile companies are expected to be housed in these parks, which will modernize Pakistan’s textile industry while reducing its environmental footprint. Construction is set to begin by the end of this year, with the project slated for completion in three years.
This initiative positions Pakistan as a rising player in the global textile market and showcases the strengthening partnership between Pakistan and China, particularly in industrial and technological sectors.