Uzbekistan's Economic Cooperation With China Is Expanding. China's Exports To China Exceed US$95 Million In 10 Months.
Due to the smooth implementation of the cooperation project, Uzbekistan's Fergana exports to China over the past 10 months exceeded US$95 million.
In the past two years, the state and Chinese partners have implemented many promising projects to promote further development of the state.
According to statistics, there are more than 200 foreign-invested companies in Fergana. In 2018, with the assistance of the state government, the state reached cooperation agreements with many countries, including Russia, South Korea, China and Latvia.
At present, the state of Fergana has carried out a number of new projects to attract foreign investment through practical work, especially the economic cooperation with Chinese entrepreneurs.
The state has 38 Chinese joint ventures and 24 foreign-invested companies in China. In the first 10 months of 2018, exports to China were $95.2 million, and imports were $164 million.
To increase the state's direct investment appeal, the state of Fergana established partnerships with many provinces in China last year. A $407.2 million agreement and project implementation memorandum was signed after the exchange of visits.
With the participation of 245 million U.S. dollars in direct investment, the state has also implemented 14 projects in the production of building materials and mass consumer goods, metal processing and light industry. Chinese entrepreneurs and representatives of various companies have also visited Fergana to familiarize themselves with the state's economic potential and the conditions created for investors.
The high-quality goods produced by Bolajon orsusi, a Sino-Ukrainian joint venture, are very popular in the city. According to the Uzbekistan National News Agency, the company has 180 employees.
“Last year, the company produced nearly 5 billion som worth of products, 40% of which were exported. Due to the introduction of modern technology in production, we have a complete process for producing adult and children's shoes, from soles to decorative materials. Entrepreneurs buy the necessary raw materials,” said Bolajon orsusi corporate manager Iklomujiang Bajmanov.
Currently, Fergana is building a cement plant with a project cost of more than $153 million. Zhuidam taamir Qurilish LLC and Beijing Kaisheng International Engineering Co., Ltd. have established a “Kukon Euro Qurilish Material” joint venture.
According to the company's plan, it plans to produce 1 million tons of cement and 33 million square meters of gypsum board every year, and will provide fixed work for more than 1,000 people.