ISLAMABAD
\nChinese garment manufacturer Challenge Fashion Pvt. Ltd. will establish a Special Economic Zone (SEZ) in Pakistan with a projected investment of $100 million over the next five years, according to a statement from Prime Minister Shehbaz Sharif\u2019s office. The investment is expected to generate $400 million in exports, an official briefing stated.
\nThe prime minister inaugurated the SEZ after a meeting with a delegation led by the company\u2019s chairman, Huwang Weiguo, Gwadar Pro reported. During the meeting, Prime Minister Shehbaz Sharif said, \u201cWe appreciate Challenge Fashion Group\u2019s confidence in the Pakistani market. We welcome Challenge Group\u2019s establishment of a Special Economic Zone in Pakistan.\u201d
\nAccording to Shehbaz, the increase in economic relations between the two countries is a source of satisfaction and the Government of Pakistan is keen to take China-Pakistan friendship to new heights. \u201cChina and Pakistan\u2019s friendship holds a unique place in the world and both countries have stood by each other in every difficulty,\u201d said the Prime Minister who added that the SEZ will help in technology transfer, skill development, and sustainable industrial growth.
\nThe Prime Minister instructed that all possible facilities be provided to Challenge Group with regard to the SEZ and added, \u201cWe are determined to promote the industrial component of the China\u2013Pakistan Economic Corridor (CPEC) and Pakistan wishes to benefit from China\u2019s progress and expertise in the textile sector\u201d
\nHuwang Weiguo, the Chairman of Challenge Fashion Group thanked the Prime Minister for the warm hospitality in Pakistan. \u201cSince 2014, Challenge Fashion Group has invested 17 million US dollars in Pakistan,\u201d Huwang Weiguo said, adding, \u201cChallenge Fashion Group is establishing a modern textile industry in Pakistan\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Chinese garment manufacturer Challenge Fashion Pvt. Ltd. will establish a Special Economic Zone (SEZ) in Pakistan with a projected investment of $100 million over the next five years, according to a statement from Prime Minister Shehbaz Sharif\u2019s office. The investment is expected to generate $400 million in exports, an official briefing stated. The prime […]<\/p>\n","protected":false},"author":2,"featured_media":497340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-497324","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n