Pakistan’s economic landscape, Minister for Commerce Jam Kamal Khan announced that a prominent textile group has expressed interest in establishing a textile factory in Pakistan. This revelation came during his visit to Beijing as part of Prime Minister Shehbaz Sharif’s official delegation, where several crucial discussions and agreements took place.
During the visit, Minister Jam Kamal Khan participated in a grand luncheon hosted by Chinese Premier Li Qiang, alongside Prime Minister Shehbaz Sharif. The event provided a platform for witnessing the signing of Memorandums of Understanding (MoUs) and agreements aimed at fostering bilateral cooperation between Pakistan and China.
Among the key highlights of the visit was Minister Jam Kamal Khan’s interaction with his Chinese counterpart, Wang Wentao, during the grand luncheon. Additionally, he accompanied Prime Minister Shehbaz Sharif in meetings with the Chairman of Shandong Ruyi, a prominent textile group that has expressed keen interest in investing in Pakistan’s textile sector by establishing a textile factory.
Minister Jam Kamal Khan joined the Prime Minister in witnessing the signing of crucial MoUs related to various sectors in Pakistan. These included agreements concerning the manufacturing of solar panels, the development of agriculture parks, seed technology transfer, and the exploration of green hydrogen energy development.
In a concerted effort to attract foreign investment to Pakistan, Minister Jam Kamal Khan, along with the Minister for Privatization and Investment, held meetings with the heads of renowned Chinese companies. These included Sinochem, China National Chemical Engineering (two large state-owned petrochemicals and chemical companies), Sinoma (manufacturers of cement plants and developers of economic zones), CZK (an e-commerce company specializing in Pakistani products), and Donghua Iron and Steel Company.
During these engagements, both ministers highlighted the immense investment opportunities available in Pakistan and provided insights into government policies conducive to foreign investment. They assured the Chinese companies of complete facilitation by the government and extended invitations for them to visit Pakistan in the coming months to explore potential investment ventures further.
The discussions with the Chinese textile group and other companies underscore Pakistan’s commitment to fostering mutually beneficial partnerships with international stakeholders. By leveraging its strategic location, skilled workforce, and abundant resources, Pakistan aims to attract foreign investment across various sectors, thereby driving economic growth and development.
The engagement with Chinese companies reflects the government’s proactive approach to promoting investment and creating an enabling environment for business ventures. Through targeted initiatives and policy reforms, Pakistan seeks to capitalize on its untapped potential and position itself as an attractive destination for foreign investors.
