China may invest $1 billion to set up medical city in ally Pakistan | World News

A Chinese business delegation has met with President Asif Ali Zardari here and expressed interest in investing USD 1 billion to establish a medical city in Pakistan, according to a media report.

Pakistan has held strong bilateral relations with China which has supported it through many investments and development projects such as the China-Pakistan Economic Corridor project which was termed as a “lifeline” for the country’s economy.

The delegation of Chinese investors during a meeting with Zardari on Thursday outlined their plans to invest USD 1 billion into creating the medical city in Karachi’s Dhabeji Economic Zone which is outside Pakistan’s biggest city and financial hub.

The medical city would be Pakistan’s first fully integrated pharmaceutical and medical ecosystem.

Korangi Association of Trade and Industry (KATI) which is tasked with the running of the Dhabeji Economic Zone said in a statement that the pledge by the Chinese investors is an example of the growing economic ties between the two countries.

The meeting which was also attended by Sindh Chief Minister, Syed Murad Ali Shah and the Chinese Consul General was held after successful negotiations between the Sindh government and the conglomerate of Chinese investors.

President Zardari, according to the statement, highlighted the importance of fostering deeper economic and trade cooperation between Pakistan and China.

The statement said that the Chinese delegation also showed interest not only in the health sector but also in several other key areas, including agriculture, livestock, energy, transport, and manufacturing.

The President also told the government is committed to facilitate and provide cooperation to Chinese investments in Pakistan.

“We welcome Chinese investors and are determined to provide them with every possible support,” he added.

The Sindh Chief Minister also told the investors that the government had introduced Chinese language courses in the province to remove language barriers and enhance cultural ties between the two countries.