The Chinese company plans to invest $150 million in the Lahore Industrial Park to improve Pakistan's export future.
According to Dawn News, the industrial park will be located near the Lahore border between Kasur. It will include grand textile factories, dyeing factories and garment manufacturing facilities to improve Pakistan's sportswear exports.
A Chinese company has been working as a Challenge Apparel in Pakistan since 2017 and has a textile manufacturing facility on Multan Road near Lahore.
The shortage of labor and rising wages in the home textile industry has made Pakistan an attractive place for Chinese companies to relocate their manufacturing facilities. Other markets such as Vietnam, Bangladesh, India and Myanmar were also overcrowded.
However, Chen Yan explained that finding suitable land with electricity, coal and other utilities in Pakistan is difficult. Acquiring these utilities takes longer for the company to start operating.
Therefore, as the Pakistani market becomes more attractive to foreign investors, it is important that these foreign investors support relevant policies and initiatives to increase the country's export.
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