KARACHI: Meng Xiao Wei, President of China–Pakistan Research and Innovation Enterprises Alliance, said that the medical city project planned in Karachi will include manufacturing facilities for medical equipment; a world-class medical college; training programs and other healthcare-related businesses.
With an investment of over $1 billion and a timeline of three years, the initiative is expected to generate over 50,000 jobs in Pakistan. The project will also have support of the Pakistan–China Medical Association.
Atif Ikram Sheikh, President FPCCI, apprised that the federation has hosted a high-profile Chinese delegation where the visiting delegation announced the plans to establish a mega medical city in Karachi – with an investment of $1 billion. It will be transformational for the healthcare system of Pakistan in general and for Karachi in particular, he added.
It is pertinent to note that the announcement was made during a joint meeting of FPCCI’s Pakistan–China Business Council and FPCCI’s Central Standing Committee on Foreign Affairs, Trade and Investment.
The meeting was co-chaired by Saquib Fayyaz Magoon, SVP FPCCI and Meng Xiao Wei, President of China–Pakistan Research and Innovation Enterprises Alliance.
Saquib Fayyaz Magoon stressed that the proposed grand medical city will be collectively developed by 35 Chinese business groups listed on the Chinese Stock Exchange, aiming to upgrade Pakistan’s healthcare system to make it at par with international standards.
He added that this landmark initiative underscores the strengthening economic ties between Pakistan and China – paving the way for significant socio-economic development in Pakistan.
He acknowledged the instrumental role of Idrees Gigi, prominent Pakistani Industrialist & exporter of Pakistan, in organizing the engagement of Chinese investors with their Pakistani counterparts.
Shabbir Mansha, Chairman of FPCCI’s Pakistan–China Business Council, informed that the representatives from leading Chinese industries; including medical industry, agricultural fertilisers, solar energy, heavy trucks and electric vehicles, were part of the visiting Chinese delegation. The Chinese delegation expressed their willingness for further collaboration and announced extensive B2B meetings with Pakistani companies in Karachi to explore additional investment opportunities in collaboration with the Sindh government.
Mahin Khan, Convener of FPCCI’s Central Standing Committee on Foreign Affairs, Trade and Investment, elaborated that the Chinese delegation has also revealed plans for other significant investments in Pakistan; including, cold extraction mine project; fertiliser manufacturing & distribution facilities; high-speed train track between Karachi & Sukkur and other mega projects.
Copyright Business Recorder, 2024