Chinese delegation to invest $1b in Karachi mega medical city

Project will create 50,000 jobs, transform Pakistan's healthcare sector

KARACHI:

A high-profile Chinese delegation announced plans to establish a mega medical city in Karachi with an investment of $1 billion, generating 50,000 jobs.

The announcement was made during a joint meeting of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)'s Pakista-China Business Council and FPCCI's Central Standing Committee on Foreign Affairs, Trade, and Investment.

Meng Xiao Wei, President of the China-Pakistan Research and Innovation Enterprises Alliance, stated that the project will include manufacturing facilities for medical equipment, a world-class medical college, training programmes, and other healthcare-related businesses. With an investment timeline of three years, the initiative is expected to create over 50,000 jobs in Pakistan. The Pakistan-China Medical Association will also support the project.

FPCCI President Atif Ikram Sheikh said that the federation hosted the Chinese delegation at its head office in Karachi, where the visiting delegation announced plans for the medical city in Karachi were unveiled. He described the project as transformational for Pakistan's healthcare system in general and particularly for Karachi.

Magoon noted that the proposed medical city will be developed by 35 Chinese business groups listed on the Chinese Stock Exchange, aiming to bring Pakistan's healthcare system at par with international standards. He pointed out that the landmark initiative underscores the strengthening economic ties between Islamabad and Beijing, paving the way for significant socio-economic development in Pakistan.

Shabbir Mansha, Chairman of FPCCI's Pakistan–China Business Council, mentioned that representatives from leading Chinese industries—including medical, agricultural fertilisers, solar energy, heavy trucks, and electric vehicles—were part of the visiting delegation. They expressed their willingness for further collaboration.