China to Invest $1 Billion in Karachi Medical City Creating 50,000 Jobs

A high-level Chinese delegation has unveiled plans to build a state-of-the-art medical city in Karachi with an investment of $1 billion, expected to create 50,000 jobs. The announcement came during a joint meeting of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s Pakistan-China Business Council and its Central Standing Committee on Foreign Affairs, Trade, and Investment. Meng Xiao Wei, President of the China-Pakistan Research and Innovation Enterprises Alliance, outlined the project’s scope, which includes manufacturing facilities for medical equipment, a top-tier medical college, training programs, and other healthcare businesses. The initiative, to be completed within three years, will receive backing from the Pakistan-China Medical Association. FPCCI President Atif Ikram Sheikh called the project a game-changer for Pakistan’s healthcare sector, particularly for Karachi, emphasizing its potential to raise medical standards and boost the local economy. The medical city will be developed by 35 Chinese business groups listed on the Chinese Stock Exchange. Shabbir Mansha, Chairman of FPCCI’s Pakistan-China Business Council, highlighted the delegation’s interest in other sectors, including solar energy, agriculture, and electric vehicles, signaling opportunities for further collaboration.