Chinese investors set up export-oriented textile unit: Asim

ISLAMABAD: The Challenge Fashion Group, a Chinese company on Wednesday vowed to expand its business under the China-Pakistan Economic Corridor (CPEC) in Pakistan which would create over 20,000 jobs for locals, CPEC Authority Chairman Lt General (R) Asim Saleem Bajwa said.

He said the Chinese investor had already established a textile factory in Lahore which was a huge export-oriented unit. In his tweet, Bajwa said the textile factory being run by the Chinese Challenge Fashion Group had produced over 5,000 jobs for locals. During his visit to the factory in Lahore, Asim Bajwa expressed satisfaction over the establishment of the unit of international standard, saying that the owner of the company was now keen to establish a separate Special Economic Zone in Pakistan that would be exclusively an export-oriented zone.

He said a number of Chinese investors were lined up for investment in Pakistan’s industrial sector and soon all would be accommodated.

He said this was the model for new SEZs which would boost the industrial output and exports.

Earlier this week, Prime Minister Imran Khan had lauded the strategic and bilateral partnership between Pakistan and China and directed the relevant authorities to introduce a new visa category for foreign investors. “In order to transform these relations into strong economic ties, it is necessary to promote investment in areas of mutual interest and provide all possible incentives to investors,” he had said. In the meeting, different investment projects under the CPEC were discussed.