China to implement 15 projects in Uzbekistan
By Aynur Jafarova
Chinese entrepreneurs will start implementing 15 joint investment projects in Uzbekistan's Dzizak special industrial zone by late 2014.
These projects will be implemented by direct Chinese investment
worth $50 million, a representative in Uzbek government circles
told Trend Agency.
Six additional projects in the textile industry will be carried out
by the Chinese Nan Yang Mulanhu, Henan Sine, Pinmian Co. Ltd. and
Hebey An Feng Da Group companies on the territory of the industrial
zone.
It is planned to export 80 percent of the production.
Wenzhou Jingshen Trade Co. Ltd. will start implementation of three
projects worth $12.4 million in Dzizak. The company will establish
a venture to produce 1.2 million units of acrylic sanitary products
worth $10 million.
It will also implement a project worth $1.4 million to create a
modern line of full cycle waste-free leather processing, with an
output of 1,000 tons per year, as well as a project worth $1
million to produce 1,000 tons of pet food.
ZTE (H.K.) Ltd. will implement a $3.16 million worth project to
produce cell phones and their accessories. The production capacity
will be 100,000 cell phones annually.
The Dzizak special industrial zone was established in March 2012
under a decree signed by Uzbek President Islam Karimov.
Launching the Dzizak industrial zone, which will have a branch in the Syr Darya province, envisages the effective utilization of the production and resource potential of Dzizak and Syr Darya provinces, creation of new jobs, and increase of the population's income.
The Dzizak special industrial zone mainly tries to attract direct investments for launching high-tech and innovative production in order to produce competitive goods for domestic and foreign markets.
The Dzizak industrial zone will be in operation for 30 years, with a capacity of extension. During this period, special tax regulations and customs benefits will be provided depending on the volume of investment.
Uzbekistan and China are developing cooperation in oil, gas, petrochemical, chemical and mining industries, in the fields of transport and logistics, the manufacturing industry, telecommunications, production of electrical technology and modern construction materials, as well as in a number of other sectors.
China is one of the largest trade partners of Uzbekistan. The trade volume between the two countries has increased by almost 6 times for the past 6 years and amounted to $5.2 billion in 2013. This figure stood at $2.163 billion in the first half of 2014.
Some 482 joint ventures with Chinese capital, as well as the representative offices of more than seventy Chinese companies are operating in Uzbekistan.
Uzbekistan and China are implementing the projects in the energy sector by investing $2.8 billion. Some $2.5 billion or 90 percent of this amount are direct investments.
The Chinese companies are also involved in the projects of exploration and exploitation of deposits of hydrocarbons, uranium and other precious materials, as well as gas chemical complex in Mubarek and other high-tech industries in Uzbekistan.