As part of their high-level delegation visit, China has proposed the creation of a futuristic state-of-the-art medical city at Karachi through a $1 billion investment, which shall generate 50,000 jobs.
The joint announcement took place at a meeting of FPCCI’s Pakistan-China Business Council and Central Standing Committee on Foreign Affairs, Trade, and Investment.
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Project Scope and Impact
Meng Xiao Wei, President of the China-Pakistan Research and Innovation Enterprises Alliance, laid out the project, which comprises manufacturing facilities for medical equipment, a leading medical college, training programs, and further healthcare businesses under the capabilities of this initiative within a time frame of three years through the Pakistan-China Medical Association support.
Significance of Karachi’s Health Care
FPCCI President Atif Ikram Sheikh declared that it was a game-changer for the healthcare sector in the country, primarily for Karachi, by raising the standards of healthcare. The medical city will then be developed by 35 Chinese business groups registered on the Chinese Stock Exchange.
Broader Interest and Joint Initiative
Shabbir Mansha, Chairman of FPCCI’s Pakistan-China Business Council, also claimed that the delegation is interested in a host of other sectors including solar energy, agriculture, and electric vehicles, indicating more avenues for collaborative work.