China may contribute $1 billion to establish a medical metropolis in its ally Pakistan.

News Mania Desk / Piyal Chatterjee / 14th December 2024

A Chinese business group met with President Asif Ali Zardari today and showed interest in investing USD 1 billion to develop a medical city in Pakistan, according to media reports.Pakistan has strong bilateral connections with China, which has helped it with numerous investments and development projects, including the China-Pakistan Economic Corridor project, which has been described as a “lifeline” for the country’s economy.During a meeting with Zardari on Thursday, a team of Chinese investors announced plans to invest USD 1 billion in the development of a medical city in Karachi’s Dhabeji Economic Zone, which is located outside Pakistan’s largest city and financial hub.

The medical metropolis would be Pakistan’s first fully integrated pharmaceutical and medical ecosystem. The Korangi Association of Trade and Industry (KATI), which is in charge of overseeing the Dhabeji Economic Zone, said in a statement that the Chinese investors’ pledge demonstrates the two nations’ strengthening economic connections.The meeting, which also included Sindh Chief Minister Syed Murad Ali Shah and the Chinese Consul General, was convened following successful discussions between the Sindh government and a group of Chinese investors.  According to the statement, President Zardari emphasized the necessity of strengthening Pakistan-China economic and trade relations.

The statement said that the Chinese delegation also showed interest not only in the health sector but also in several other key areas, including agriculture, livestock, energy, transport, and manufacturing.The President also told the government is committed to facilitate and provide cooperation to Chinese investments in Pakistan.”We welcome Chinese investors and are determined to provide them with every possible support,” he added. The Sindh Chief Minister also informed the investors that the government had implemented Chinese language classes in the province to break down linguistic barriers and strengthen cultural links between the two countries.