Two Chinese companies have announced plans to establish manufacturing plants in Pakistan
Two prominent Chinese companies have announced plans to establish manufacturing plants in Pakistan, marking a significant step in enhancing the local textile industry. One company will set up its own facility, while the other will enter a joint venture with a local partner to produce raw materials for textiles.
The investments, totaling millions of dollars, aim to supply affordable raw materials to local industries. Abdul Rahim Chughtai, who leads the 9th Colour and Chemicals Expo 2024 and is also the president of the Punjab Dyes and Chemicals Merchants Association, revealed that Napa Chemicals and Shao Shing Chemicals will be investing in Punjab.
Chughtai noted that Rainbow Industries will partner with Shao Shing Chemicals in a joint venture, bringing cutting-edge technology and advancements to the local dyes and chemicals sector. He also mentioned that the federal government has offered a 10-year tax holiday, duty-free machinery imports, and incentives for setting up units in Special Economic Zones to attract foreign investment.
However, Chughtai pointed out that challenges such as law and order and energy tariffs still pose obstacles to foreign investment in the country.
The recent 9th Color & Chem Expo, organized by Event and Conference International, Rainbow Group, and the Punjab Dyes & Chemicals Merchants Association, was a significant event, drawing over 300 exhibitors from the dyes, chemicals, and related industries. The expo also featured companies and representatives from China, Malaysia, Turkey, and Iran.
