It is reported that a Chinese apparel firm is all set to invest $150 million in an industrial park project in Lahore, Pakistan. The new project will launch state-of-art fabric units along with dyeing facilities and garment manufacturing units. The garment manufacturing units are exclusively for exporting sportswear from Pakistan to USA, Europe, and Asia-Pacific along with other regions around the globe.
This project is by a Shanghai-based college and probably listed as the first foreign direct investment in the export sector of Pakistan. The chinese firm is already operating as challenge apparel since 2017 and has contributed to the revenue from exports with a total of $44 million.
According to the managing director, they expect their existing facility to contribute more towards the export industry of Pakistan and have aimed to make revenue of $54 million for this fiscal year. Once the new Fashion apparel project becomes functioning in the coming year, it aims at achieving $120 million in the initial year and $400 million.
The Managing Director of the firm, Chen Yan says:
Our total production is meant for export. We’re bringing modern, most-efficient and environment-friendly technology to Pakistan from across the world besides introducing new ways of management at our new flagship industrial park.
Furthermore, he added:
Our plan is to make Pakistan the hub for our polyester-based sportswear exports. Our Chinese operations in Shanghai and Hubei have customers like Adidas and Reebok who’re willing to come to Pakistan if we’ve capacity here. We’ll bring Pakistan new business. We’re a different breed and our product line is new for Pakistan.
At present the company employees 3000 workers which include 28 chinese nationals. Once the company is completely functional, it aims at employing approximately 11,000 employees. Therefore, we expect to see this step as a fruitful decision. It will definitely boost the exports of Pakistan and will have a positive impact on the country’s economy.
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