Islamabad, Dec 14: As the President of China–Pakistan Research and Innovation Enterprises Alliance Meng Xiao Wei pointed out the medical city to be planned in Karachi will entail medical equipment production facilities and a medical college of international standard and training programs and other healthcare ventures.
Carrying an investment of more than $ 1 billion and spanning over three years, the proposed initiative will create more than fifty thousand employment opportunities in Pakistan.
It will also receive endorsement from an added partner called the Pakistan–China Medical Association. Stating this, Atif Ikram Sheikh, President FPCCI informed that the federation has arranged a very important Chinese delegation where the guest delegation declared to set up a mega medical city at Karachi –costing $1 billion.
It will be transformational for the healthcare system of Pakistan in general and for Karachi in particular, he added.
The announcement came during a joint meeting of FPCCI’s Pakistan–China Business Council and FPCCI’s Central Standing Committee on Foreign Affairs, Trade, and Investment.
Saquib Fayyaz Magoon, SVP FPCCI, and Meng Xiao Wei, President of China–Pakistan Research and Innovation Enterprises Alliance, co-chaired the meeting.
Saquib Fayyaz Magoon emphasized that 35 Chinese business groups listed on the Chinese Stock Exchange will collectively develop the proposed grand medical city, aiming to upgrade Pakistan’s healthcare system to meet 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.
