A 9-member delegation of RUYI group led by Chairman QiuYafu met with Prime Minister Muhammad Shahbaz Sharif. After the Prime Minister’s recent visit to China, important progress regarding Chinese investment in Pakistan. China’s cotton group will establish international quality textile parks in Pakistan. A friend of China Pakistan who has stood with Pakistan in every difficult time. Economic relations between China and Pakistan are getting stronger with each passing day. We welcome the delegation of Rui Group in Pakistan. Rui Group was the first investor of Sahiwal Coal Power Plant under China Pakistan Economic Corridor. The Prime Minister appreciated the deep interest of Rui Group regarding investment in Pakistan’s textile sector
We have not come to Pakistan as investors but as friends of Pakistan, Chairman Rui Group Chew Yafu’s conversation Chairman Rui Group mentioned Punjab and Shahbaz Speed regarding the rapid development works during the Punjab Chief Minister’s tenure as Prime Minister. And expressed hope that this time too the same speed will be seen in the completion of development projects. Rui Group will establish international quality textile parks in Sindh province and Punjab province, in which around 100 major textile industries of China will be invited to invest. The focus of these textile parks is to increase Pakistan’s textile exports and make Pakistan the world’s textile and garment hub. These textile parks will use solar energy and will work on zero carbon and automated advanced technology. These parks are expected to export 2 billion US dollars in the first phase and 5 billion US dollars in the second phase. These textile parks will provide employment opportunities to 3 lakh to 5 lakh local people. The foundation stone for these textile parks will be laid later this year and will be completed within a three-year period
Rui Group will also establish one wholesale commodity centers in Karachi and Lahore. In the meeting, it was decided to establish working groups in Islamabad and Beijing to advance the issues between Pakistan and Rui Group. Prime Minister’s directive to form a special committee headed by Deputy Prime Minister and Foreign Minister Ishaq Dar in this regard. The committee will include Federal Ministers for Trade, Investment and Privatization, Industry and Production, Foreign Secretary, Special Investment Facilitation Council representative and Zafaruddin Mahmood. Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Industry and Production Rana Tanveer Hussain, Federal Minister for Investment and Privatization Abdul Aleem Khan, Federal Minister for Power Owais Ahmed Khan Leghari and other relevant senior officials. Government officials participated. After the delegation met the Prime Minister, a memorandum of understanding was signed between the Investment Board and the Rui Shengdong Group regarding the establishment of modern textile parks in Pakistan, in which the Prime Minister also participated.
Sub Editor: Ghufran