Home / Knowledge / News / Textiles / Chinese Bank assures investment in Pak textile sector
Chinese Bank assures investment in Pak textile sector
30
Mar '15
The Industrial and Commercial Bank of China has assured of investing in the textile and energy sectors to chief minister of Punjab Shahbaz Sharif, who is on a visit to China.

The assurance to the chief minister was given by the chairman of the bank, Jiang Jianqing during a high-level meeting in Beijing.

According to Pakistan media reports, as a result of this, billions of dollars of investments will flow in to Punjab in the next few years.

The bank, apart from offering capital, will also help the Punjab government in attracting investment from other global sources.

Shahbaz Sharif also appealed to the China National Textile and Apparel Council (CNTAC) to invest in an Apparel Park project in Sheikhupura, to which CNTAC officials expressed keen interest.

Sharif said that there are vast opportunities for investment in the Apparel Park and also assured of full protection to their capital and said that Chinese investors could also repatriate profits to their country.

He added the Apparel Park has been planned in such a way that there would be separate textile and garment zones, apart from there was abundance of skilled manpower in the sector.

“Cooperation in the Apparel Park project will help Pakistan benefit from Chinese expertise and technology,” he informed.

The added benefit according to Sharif was that since Europe had granted Pakistan GSP Plus status, Pakistan can export its textile products duty-free to European countries. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search