A Chinese business delegation met President Asif Ali Zardari in Karachi and expressed interest in investing $1 billion in establishing a medical city in Pakistan. File | Photo credit: AP

A Chinese business delegation met President Asif Ali Zardari in Karachi and expressed interest in investing $1 billion in establishing a medical city in Pakistan, according to a media report.

Pakistan enjoys strong bilateral relations with China, which has supported it through numerous investment and development projects such as the China-Pakistan Economic Corridor project, described as a “lifeline” for the economy of the country.

The delegation of Chinese investors, in a meeting with Mr. Zardari on Thursday (December 12, 2024), presented their intention to invest ₹1 billion in establishing the medical city in Dhabeji Economic Zone in Karachi, apart of the largest city and financial center of Pakistan.

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

The Korangi Association of Commerce and Industry (KATI), responsible for managing the Dhabeji Economic Zone, said in a statement that the engagement of 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 Chinese Consul General, was held after successful negotiations between the Sindh government and the Chinese investor conglomerate.

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

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

The President also said the government was committed to facilitating and cooperating with Chinese investments in Pakistan.

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

The Sindh chief minister also told investors that the government had introduced Chinese language classes in the province to remove language barriers and strengthen cultural ties between the two countries.