MIIT delegation held successful talks in Urumqi and Beijing

During the first week of December this year, a delegation consisting of representatives of the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, district and regional khokimiyats of the Namangan region visited the Xinjiang Uyghur Autonomous Republic and the city of Beijing in China, the press service of the Ministry of Investment, Industry and Trade reports.

The purpose of the visit is to work directly with investors to attract direct Chinese investment in specific projects in the Namangan region. This is a comprehensive, systemic approach – the visit was preceded by a deep analysis of opportunities and the development of specific initiatives.

During the visit, meetings and negotiations were held in the cities of Fulong and Urumqi of the Xinjiang Uyghur Autonomous Republic and the city of Beijing with the heads of such large Chinese companies as ‘‘Hunan Zhongwei Group’’, ‘‘Fulong Four Season’’, ‘‘Xinjiang Tianshan’’, ‘‘Jinmo Camel Biotechnology’’, ‘‘BJ Supply Chain Managament’’, ‘‘Shaoxing Zhonglu’’, ‘‘Yang Yexuan Wantai’’, ‘‘Shenzhen Decoration Group’’, ‘‘New Energy Agriculture’’, ‘‘Zhuanghuayiliao’’, ‘‘GCL Group’’, ‘‘China Gansu International Economic and Technical Cooperation Co’’, ‘‘Sichuan Commercial Investment Group’’ and others, where practical details of the implementation of specific project initiatives in the Namangan region were discussed.

The heads of Chinese companies were presented with the conditions created in Uzbekistan for comfortable activities of entrepreneurs, benefits and preferences, legislative guarantees for the protection of the rights and interests of investors. Representatives of Chinese companies highly appreciated the business climate of our country, reporting on the popularity of Uzbekistan as one of the most reliable investment destinations in the business circles of China.

During the negotiations, agreements were reached on the implementation of joint projects in the areas of tourism, medicine and infrastructure development, processing of fruit and vegetable products, livestock farming, automotive industry, production of textile products, construction materials, equipment for solar and wind power plants. The Ministry expressed its readiness to provide full and comprehensive support to the partners from China at all stages of project implementation.

Also, as part of the visit, on December 6, an Uzbek-Chinese business forum was held in Beijing with the participation of the heads of more than 20 large Chinese companies, who expressed a keen interest in the presented projects. At the subsequent negotiations in the B2B format, further steps were agreed on the detailed development of projects directly ‘‘on the ground’’.

In general, as noted by Chinese partners, thanks to the reforms carried out in the country and a number of ‘‘success stories’’, the demand for Uzbekistan as one of the best locations for investment and business expansion is becoming a trend among the business community of China.

It is important to note that such work to establish direct interaction will be organized in the context of each region, local government leaders will travel and conduct negotiations with the assistance of MIIT in order to attract new investors to the country.