KARACHI: Over 50 Chinese companies are set to invest $1.4 billion in Sindh’s various sectors, including healthcare, agriculture, food, energy, and fertilizers.
This announcement was made by Meng Xiaowei, head of the Chinese delegation, along with Muhammad Idrees Gigi, CEO of Global Ventures, during a press briefing following the Sindh Investment Conference held on Thursday.
The event was organized in partnership with the Sindh government and Global Ventures at a local hotel.
12 major Chinese firms visit various sites of Dhabeji SEZ
During the press briefing, it was revealed that over 50 Chinese companies keen to invest in Sindh, with delegations from 12 companies already present in the initial phase. The Sindh government has assured foolproof security for all Chinese investors, creating a secure environment for economic collaboration.
Major investment included:
Medical City in Dhabeji: A state-of-the-art Medical City will be developed near Dhabeji on 300 acres of land. Chinese investors are expected to contribute $1 billion to the project, which will be completed in three phases over seven years. The first phase is projected to finish in 2.5 years. The Medical City will include a research and training center, pharmaceutical production units, and facilities for manufacturing surgical equipment. It also promises a full transfer of technology to Pakistan.
Food Sector: In addition to healthcare investments, Idrees Gigi stated that Chinese companies are keen to explore opportunities in Pakistan’s food export sector. They aim to export commodities like beef, mutton, and seafood to China. He noted that China imports food items worth $105 billion annually from countries like Brazil and Argentina. With Pakistan’s involvement, the food import volume could reach $5 billion in the next two to three years.
Transport Sector Collaboration: The Sindh government is collaborating with Chinese investors to introduce 200 electric buses and 10,000 taxis. Additionally, plans for a high-speed train linking Karachi to Sukkur are under consideration. This project will reduce travel time between the two cities to just 2.5 hours.
Fertilizer Production in Thar: A Chinese company plans to utilize advanced coal-powered technology to establish a fertilizer production facility on 200 acres of land in Thar.
Solar Panel Manufacturing: Chinese investors will produce 2.1 million solar panels with capacities ranging from 2 to 5 kilowatts. These panels will be distributed to underprivileged communities through the Sindh government, aiming to uplift energy-deprived regions.
Agricultural and Livestock Development: Chinese companies will invest in fertilizers, seeds, and modern agricultural techniques to enhance productivity in Sindh’s agricultural sector.
Gigi also mentioned that President Asif Ali Zardari met with the Chinese delegation to assure them of full cooperation and highlighted China as a key partner for large-scale investments in Pakistan.
He said more Chinese companies are expected to arrive in Sindh next month, further accelerating economic activity in the province.
Earlier, he conference began with a seminar where key stakeholders shared insights into Sindh’s dynamic investment climate.
Speaking at the event, Special Assistant to Chief Minister Sindh on Investment and Public-Private Partnership, Syed Qassim Naveed Qamar welcomed the delegates and emphasized Sindh’s readiness to collaborate with international and local investors.
“Sindh offers unmatched opportunities for investment with its strategic location, abundant resources, and commitment to sustainable industrial growth,” he stated.
Provincial Minister for Transport and Information, Sharjeel Inam Memon highlighted the provincial government’s dedication to transparency and facilitating investors, stating, “Our vision is to make Sindh the leading destination for investment, where every project contributes to the prosperity of the people.”
Minister for Energy, Syed Nasir Hussain Shah underscored the government’s focus on infrastructure development and urban planning, emphasizing the role of industrialization in transforming Sindh’s economic landscape.
Copyright Business Recorder, 2024
Comments
Comments are closed.