Prime Minister Shehbaz Sharif on Friday launched a Special Economic Zone (SEZ) to be developed by Chinese garments giant Challenge Fashion Private Limited, with a $100 million investment over five years and projected exports of $400 million.

The company, which has already invested $17 million in Pakistan since 2014, will establish the SEZ to promote technology transfer, skill development, and sustainable industrial growth.

Before the groundbreaking, the prime minister met with a company delegation led by Chairman Huwang Weiguo.

He welcomed the investment, directed authorities to provide all possible facilities, and reiterated his government’s commitment to boosting the industrial component of the China-Pakistan Economic Corridor (CPEC) by leveraging China’s expertise in textiles.

Highlighting the “time-tested” Pakistan-China friendship, PM Shehbaz expressed the desire for more Chinese industries to set up units in Pakistan. He also announced that a China-Pakistan Business-to-Business Conference would soon be held in China to foster private-sector collaboration.

Chairman Huwang thanked the prime minister for his hospitality, saying the company aimed to establish a modern textile industry in Pakistan. He reaffirmed the $100 million investment plan to achieve $400 million in export revenue.

The meeting was attended by federal ministers Ahsan Iqbal, Jam Kamal, Attaullah Tarar, Ali Pervez Malik, Sardar Awais Ahmad Leghari, Special Assistant to the Prime Minister Tariq Fatemi, and senior officials.