ISLAMABAD, Aug 15 (Alliance News): Prime Minister Shehbaz Sharif on Friday inaugurated a Special Economic Zone to be developed by Chinese garments manufacturer Challenge Fashion Private Limited, with a planned $100 million investment over the next five years and projected exports of $400 million.
The project, led by Challenge Fashion Chairman Huwang Weiguo, builds on the company’s $17 million investment in Pakistan since 2014.
Speaking at the launch, the prime minister welcomed the initiative, saying it would promote technology transfer, skill development, and sustainable industrial growth in the country.
Shehbaz Sharif directed authorities to extend full facilitation to the Challenge Group, reiterating his government’s commitment to boosting the industrial component of the China-Pakistan Economic Corridor and drawing on China’s expertise in the textile sector.
He highlighted the “time-tested” Pakistan-China friendship and expressed a desire for more Chinese industries to establish manufacturing units in Pakistan.
The prime minister also announced that a China-Pakistan Business-to-Business Conference would soon be held in China to foster private sector collaboration between the two countries.
Huwang Weiguo thanked the prime minister for the hospitality extended to his delegation and reaffirmed his company’s commitment to developing a modern textile industry in Pakistan.
Federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, Sardar Awais Ahmad Leghari, Special Assistant to the Prime Minister Tariq Fatemi, and senior officials attended the meeting.
