Islamabad: As Pakistan got the GSP-plus status which will allow almost 20 per cent of Pakistani exports to enter the EU market at zero tariff and 70 per cent at preferential rates, and at that time China’s top textile conglomerate – the Shandong Ruyi Group – is ready to take over major share of a Pakistan’s textile enterprise next week.
Jerry Liu, Vice-Chairman of Shandong Ruyi is leaving Beijing early next week at the head of his team for making $ 100 million investment.
The deal for acquisition of 52 per cent share of Faisalabad- based Pakistani textile enterprise is expected to be signed on January 9.
According to the company’s website, the Group being involved in rabbit hair spinning, textile & clothing, cotton textile, cotton printing and dyeing, knitting, fiber, jeans and real estate, Ruyi Group has become a well-known textile-related pluralism group, with the total assets of RMB 5.5 billion Yuan and nearly 20 thousand employees.
Dear TNT Reader,
At The News Tribe, our mission is to bring you free, independent, and unbiased news and content that keeps you informed and empowered. We are committed to upholding the highest standards of journalism, as we understand that we are a platform for truth.
Apart from independent global news coverage, we also commit our unique focus on the Muslim world. In an age marked by the troubling rise of Islamophobia and widespread misrepresentation of Muslims in Western media, we strive to provide accurate and fair coverage.
But to continue doing so, we need your support. Even a small donation of 1$ can make a big difference. Your contribution will help us maintain the quality of our news and counteract the negative narratives that are so prevalent.
Please consider donating today to ensure we can keep delivering the news that matters. Together, we can make a positive impact on the world, and work towards a more inclusive, informed global society.
Donate Monthly Subscription Annual Subscription