Shandong Pakistan Industrial Park Project Of Ruyi Science And Technology Group Was Invested By ICBC

On the morning of November 8th, Jiang Jianqing, chairman of ICBC, personally signed the investment cooperation of "Pakistan Industrial Bank - Ruyi Masood textile and garment industrial park project".

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The project is one of China Brazil economic corridor projects. It will build spun yarn, fabrics, clothing and 2*135M W power projects in the city of Punjab, Pakistan. It will be jointly invested by ICBC, Shandong Ruyi technology group and Pakistan Habib bank.

The signing of the investment agreement is a milestone for China's textile and garment enterprises to invest in Pakistan on a large scale. It is the first textile and clothing project invested by ICBC and named it "ICBC Ruyi Masood textile and Garment Industrial Park", which will provide strong financial support and guarantee for the project construction.

Meanwhile, Pakistan's largest bank, Habib bank, is also actively involved in the project's investment.

Provide financing support for the project.

Shandong Ruyi science and technology group propaganda minister Liu Kai told reporters: Ruyi group will give full play to the advantages of technology, management and talents in the textile and garment industry, cooperate with the famous local enterprises, build an international advanced textile and garment industrial park, will promote the upgrading of the textile and garment industry in Pakistan, at the same time, make use of the low-cost advantages of local labor and raw materials in Pakistan, greatly reduce production costs, and further enhance Shandong's satisfaction.

The internationalization level of the group and the competitive advantage of the industry.

Earlier, media reports said that Shandong Ruyi technology group failed to buy a deal in Pakistan due to bank financing problems, and Ruyi group denied and clarified the statement for the first time.

The industrial and commercial bank's participation in the industrial park project has made the statement of "bank financing problem" unfounded.

It is reported that Shandong Ruyi group has entered Pakistan since 2013 to invest in the power and textile and garment industries.

A person close to Shandong Ruyi group told reporters that Ruyi's investment in Pakistan has introduced a well-known financial institution to achieve the integration of industry and financial capital.

The full participation of ICBC will further further promote the industrial layout of Shandong Ruyi group in Pakistan.

Market analysts pointed out that Ruyi group should have taken into account the comprehensive cost advantage of Pakistan and the strategic thrust of the China Brazil economic corridor.

With the continuous rise of domestic costs, the low cost advantages of Southeast Asia and other countries are gradually emerging.

Pakistan will be harvested at this time, or it will gain fruit in the near future.