A Chinese Lahore-based company, Challenge Apparels, is planning to invest$1 billion in different phases in expansion and establishment ofstate-of-the-art garment manufacturing facility in Lahore. This has beenconveyed by the Chinese ambassador to Pakistan who met with PrimeMinister’s Advisor on Commerce, Textile, Industries and Production andInvestment, Abdul Razak Dawood. The company CEO also accompanied theambassador.
An official told *Business Recorder *that the Chinese company came toPakistan about four years ago and was now running a factory exportingmultimillion Adidas and Puma garments to the high end world markets (USAand European) with a label ‘made in Pakistan.’
“This is one of key evidences that Chinese companies are relocating toPakistan,” the official added.
The company claims that it would create 5,000 jobs during the first phasewhich will increase with the passage of time. However, the company isfacing problems in acquiring 400 acres of land in Lahore for expansion ofits supply chain. The company will acquire required land on commercialbasis.
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According to an official statement, both the PM’s advisor and Chineseambassador discussed ways and means to promote investment in Pakistan.Razak Dawood informed the ambassador that the incumbent government wasfacilitating investors due to which foreign investment was coming toPakistan.
He stated that more steps would be taken to facilitate investors.
