Chinese entrepreneurs to realize 15 joint projects in Uzbekistan
Tashkent, Uzbekistan, Aug. 21
By Demir Azizov - Trend:
Before late 2014, Chinese entrepreneurs will start to realize 15 joint investment projects in Uzbekistan's Djizak special industrial zone with involvement of Chinese direct investments worth $50 million, Uzbek government circles' representative told Trend.
An additional six textile industry projects on the industrial zone's territory will be realized by Chinese 'Nan Yang Mulanhu', 'Henan Sine', 'Pinmian Co. Ltd.' and 'Hebey An Feng Da Group'.
According to the terms of creation of enterprises, up to 80 percent of the production will be exported.
Wenzhou Jingshen Trade Co. Ltd. will start implementation of three projects worth a total value of $12.4 million.
The company will create 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.
Commissioning of these ventures is scheduled for the third quarter of 2014.
The remaining projects will be put into operation by late second quarter of this year.
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, and the commissioning is planned for the first quarter of 2014.
Djizak special industrial zone was created in March 2013 by an order of President Islam Karimov.
The purpose of establishing this zone is to create favorable conditions for attracting foreign and domestic investments in order to set up modern high-tech industrial production.
Djizak will operate for 30 years with a possible extension of its functioning term. A special tax regime and customs privileges will be used in the special industrial zone's territory during this period.
Djizak is the third special economic zone in Uzbekistan. Navoi and Angren special industrial zones were created in 2008 and 2012 respectively.
Edited by CN