Saudi Arabia plans to explore a crypto and blockchain zone in Karachi. The kingdom is also studying several large-scale investment projects.
Pakistan is currently working to regulate cryptocurrency trading. Moreover, the government aims to attract foreign investment in emerging technologies.
Pakistan recently signed a Memorandum of Understanding involving Saudi and local partners. The agreement focuses on developing a maritime business district in Karachi.
The MoU includes the Karachi Port Trust, Saudi Business Council-Najd Gateway Holding Company, Arif Habib Dolmen REIT Management Ltd, and the Pakistan Corporate Consortium.
Maritime District Planned on Prime Waterfront Land
The proposed project will cover 140 acres along MT Khan Road. Developers aim to transform the site into a major commercial hub.
According to officials, Pakistan has proposed several technology-focused initiatives. These include a digital banking park and a crypto and blockchain zone.
In addition, planners have suggested an Islamic finance centre and banking units. These projects seek to strengthen financial cooperation between both countries.
Authorities also proposed a marine technology and logistics zone. Furthermore, the plan includes smart port integration and digital customs services.
Research and development activities will support maritime software projects. Consequently, officials expect greater efficiency in port operations.
Healthcare, Education and Investment Opportunities
Pakistan has also proposed international hospitals and a medical university. A maritime and trade law school forms part of the development plan.
Developers have planned luxury hotels, skyscrapers, corporate hubs, and a convention centre. Therefore, officials expect significant economic activity.
Minister Muhammad Junaid Anwar Chaudhry said the project would attract investment and create jobs. He added that the initiative would support Karachi’s urban development.
Meanwhile, Saudi delegates expressed interest in broader maritime cooperation. They also discussed potential participation in port infrastructure projects.
