Tagsm Chin likely to make an investment – Business & Finance

Suilong Liu, marking a new chapter of bilateral trade relations and potential economic growth. During his visit, Liu had various meetings with Mansoor Ehsan Sheikh and finally signed a MOU at the Punjab Board of Investment and Trade (PBIT) in the presence of Chaudhry Shafay Hussain, Minister of Trade & Investment Punjab; Both presidents emphasized their shared enthusiasm for strengthening ties between the two countries’ footwear sectors.

Trade and Investment Minister Shafay Hussain praised PFMA for its key role in attracting investment in Pakistan. “The success of this visit exemplifies our commitment to fostering international trade relations and attracting foreign investment,” said Hussain. He further acknowledged the role of PFMA and those of Ahmed Fawad Farooq, whose dedicated efforts have been instrumental in attracting investors to Pakistan’s shoe industry.

Liu’s visit highlighted the huge potential of Pakistan’s shoe market. “Pakistan is a growing footwear market with enormous opportunities for growth and development,” said Liu. He expressed confidence in the country’s economic prospects and reiterated his commitment to investing substantially in Pakistan’s shoe manufacturing sector. “The Chinese delegates plan to invest in 1st phase Rs2 billion, and will increase their investment quantum to Rs20 billion in the 2nd phase, reflecting the long-term vision and belief in the Pakistani market,” he added. The collaboration between TAGSM and PFMA is expected to bring state-of-the-art technology, modern manufacturing techniques, innovative designs to Pakistan’s footwear industry and development of supply chain materials market. This partnership aims not only to boost local production capabilities but also to enhance the quality and competitiveness of Pakistani footwear in global markets.

PFMA Chairman Mansoor Ehsan welcomed the investment and emphasized its potential impact on the local economy. “This investment will create many employment opportunities and contribute to the overall economic development of Pakistan. We look forward to a mutually beneficial partnership with Tagsm, he noted.