BAKU, Azerbaijan, June 16. Chinese companies are capable of making a significant contribution to the development of machinery industry in Uzbekistan, the Center for Economic Research and Reforms (CERR) of Uzbekistan told Trend.
The creation of an Uzbek-Chinese joint venture for the production of geophysical equipment, instruments, drilling and exploration rigs with such Chinese companies as Sany and XCMG will contribute to the development of the machinery industry in the country, the analysts say.
"The launch of electrical equipment production in Uzbekistan in collaboration with the China Electrical Equipment Industry Association, as well as production with Semiconductor Manufacturing International Corporation, Hua Hong Semiconductor, and Yangtze Memory Technologies Corp, will lead to a decrease in imports of electrical products," the Center said.
Experts also emphasized that China is among the TOP-3 countries with the highest number of operating enterprises in Uzbekistan with Chinese capital.
"As of January 1, 2023, there are 2,141 enterprises with Chinese capital operating in Uzbekistan, accounting for 15 percent of the total number of foreign-capital companies present in the country. In 2022, 275 newly established enterprises with Chinese capital were registered," the CERR added.