Islamabad, Aug 25: Two well-known Chinese businesses have declared their intention to open facilities in Pakistan; one will operate as a lone enterprise, and the other will collaborate with a local business to produce raw materials for the textile sector.
It was anticipated that both businesses would contribute millions of dollars to each project in order to produce inexpensive raw materials for the regional industry. Napa Chemicals and Shao Shing Chemicals have announced plans to invest in Punjab, according to Abdul Rahim Chughtai, the president of the Punjab Dyes and Chemicals Merchants Association and the organizer of the 9th Colour and Chemicals Expo 2024.
He announced that Rainbow Industries and Shao Shing Chemicals will soon enter into a joint venture, and that the Chinese investment would bring the newest technological advancements and transfers to our local dye and chemical industry. According to Chughtai, the federal government has already declared a ten-year tax holiday, duty-free machinery imports, and the opening of Special Economic Zone units to international investors.
According to him, the nation’s energy tariffs and state of law and order provide serious obstacles to foreign investment. The two-day 9th Color & Chem Expo, according to organizer Rashidul Haq, drew more than 300 exhibitors from the chemical, dye, and related industries. Companies and their representatives from Iran, Turkey, Malaysia, and China were also present.
The Punjab Dyes & Chemicals Merchants Association, Rainbow Group, and Event and Conference International organized the exhibition. The two-day event, according to Haq, included technology transfer, information on new products, the signing of new contracts, and enhanced interactions between the businesses and their vendors, industry stakeholders, important professionals, influential policy makers, top business executives, and decision-makers from a variety of verticals. The head of the China Dyestuffs Industry Association, Mr. Shi Xianping, attended the enormous gathering as well.
