Multi-million dollar investment from China for Pakistan shoe producers
Pakistan’s footwear manufacturing sector is set to receive a substantial investment from China.
A delegation from the Association of Guangdong Shoe Manufacturers visited Pakistan in early June, visiting factories and holding meetings with local footwear industry leaders and officials.
This visit was a follow-up to a trip to China that senior figures in the Pakistan Footwear Manufacturers’ Association (PFMA) made earlier this year.
The result is a memorandum of understanding under which the Association of Guangdong Shoe Manufacturers will invest an initial $7 million in shoe companies in Pakistan.
In a second phase, the Chinese industry body will invest a further $70 million with the aim of helping their new manufacturing partners in Pakistan buy new technology for shoe design and construction.
PFMA chairman, Mansoor Ehsan, said this investment had the potential to create numerous job opportunities in Pakistan.
Image shows representatives of the Pakistan Footwear Manufacturers’ Association and of the Association of Guangdong Shoe Manufacturers at the signing of their new memorandum of understanding.
