Two major Chinese companies have announced plans to establish manufacturing plants in Pakistan to produce raw materials for the textile industry, facilitated by the Special Investment Facilitation Council (SIFC).
According to the SIFC official, Rainbow Industries Ltd and Shaoxing Chemical Industry will jointly set up the plants to produce raw materials for the textile industry.
The joint venture between two Chinese enterprises is projected to generate millions of dollars in investment, with the goal of producing low-cost raw materials for local textile producers.
In 2022, Pakistan’s textile sector achieved a historical maximum of USD 22.1 billion in exports.
Pakistan remains the eighth largest exporter of textile products in Asia, and manufacturing employs 45 percent of the country’s labor force.
This investment is intended to bring innovative technology and accelerate the expansion of Pakistan’s textile sector.
