Pakistan is expecting an initial $1 billion in Chinese investment in its pharmaceutical industry.
The investment could rise to $5 billion over the next few years. The federal government has invited 130 leading Chinese pharmaceutical companies to Pakistan for an international conference in Karachi from 17 to 19 July. Around 200 Pakistani pharmaceutical and investment companies are also expected to attend.
Preparations for the conference and related investment agreements have been completed by the Drug Regulatory Authority of Pakistan (DRAP).
Chinese investment expected in local medical devices, vaccine production
Chinese investment is expected in the local production of medical devices, vaccines and pharmaceutical raw materials. Joint projects for the domestic manufacture of advanced surgical equipment are also under consideration.
Agreements expected on traditional Chinese, herbal medicines
The conference is expected to produce agreements on technology transfer for medical devices and the establishment of new joint manufacturing units. It will also mark the first business-to-business pharmaceutical conference in Pakistan for Chinese companies.
Agreements are also expected on the production of traditional Chinese and herbal medicines. New pharmaceutical manufacturing plants are planned for Islamabad, Lahore and Karachi.
Chinese cooperation is also expected in clinical trials, pharmaceutical research and the local manufacture of pharmaceutical machinery.
The government says Pakistan has opened its pharmaceutical sector to international investors as it seeks to expand foreign investment and industrial cooperation.
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