Baku, Azerbaijan, Sept. 5
Trend:
The Chinese Hengshui Decheng Machinery and Equipment Co. Ltd company has signed an agreement for the construction of several cement and brick factories in Jizzakh region, Podrobno.uz reported.
"The Chinese investors also intend to establish basalt production in the region, to build a hotel, a greenhouse for growing fruits and vegetable products and a poultry farm," the State Investments Committee of Uzbekistan said in a statement.
The Chinese company was founded in 2008. It specializes in the production of manufacturing lines for the output of drywall, cement and finishing stone.
Uzbekistan and China intend to increase the volume of bilateral trade to $10 billion by 2020. At the end of 2016, the trade turnover between the two countries exceeded $4.2 billion. Last year, China ranked first in Uzbekistan's trade turnover with 18.4 percent, being ahead of Russia by just three tenths (18.1 percent). At the end of this year, this figure may exceed $5 billion.
Currently, more than 700 enterprises with Chinese investments including more than 80 enterprises with one hundred percent foreign capital are operating in Uzbekistan. In addition, the representative offices of more than 70 companies from China carry out their activities in the country.