One Chinese company is investing $ 150 million in an industrial park off the border of Lahore and Kasur road, which will be used to export sportswear from Pakistan to the United States, Europe, Asia-Pacific and other parts of the world. The investment will construct a modern workshop, a dyeing and sewing workshop.
According to Dawn news, the Shanghai-based ‘Challenge’ company is likely to be the first foreign direct investment in Pakistan’s export industry.
The company has already operated a clothing production on Multan Road in Lahore called ‘Challenge’ since April 2017, and according to the company’s general manager, its export revenue was 44 million euros in the last fiscal year.
According to the CEO, he expects exports from his current division to reach 54 million Euros in the current fiscal year.
On the other hand, when Challenge Fashion Industrial Park goes live by July next year, Pakistani sportswear exports are expected to reach 12,120 million in the first fiscal year and 40,400 million in the next few years.
Exports of Pakistan’s largest textile company fell to less than 30.3 million in the last fiscal year.
The company’s managing director told Dawn in an interview, “Our products are entirely for export. We bring to Pakistan the most efficient, modern and environmentally friendly technologies from all over the world. To make love.
The company currently employs 3,000 people, including 28 Chinese citizens, and will create 10,000 to 11,000 jobs when the industrial complex is fully operational.
The export volume from China to Challenge 150 million and products made in China are sold on average at $20/unit.
Chinese companies want to move their businesses to a location where they can start in 3-6 months when they invest overseas, even if industrial complexes in Africa are ready, just go and take advantage of it.
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