Ranks of foreign partners expand
Over the past two years, a number of promising projects have been implemented in Uzbekistan’s Fergana region in cooperation with foreign partners, which serves the further development of the region.
Over the past two years, a number of promising projects have been implemented in Uzbekistan’s Fergana region in cooperation with foreign partners, which serves the further development of the region.
There are more than 200 enterprises with participation of foreign investments in the region. In 2018, with the assistance of the regional khokimiyat, promising agreements were reached with many countries, including Russia, South Korea, China, and Latvia. Practical work is underway on launching new projects with attraction of foreign capital. In particular, economic cooperation with Chinese businessmen is further strengthening.
There are 38 joint ventures and 24 foreign enterprises in the region, with participation of investments from China. New projects are launched each year. The volume of exports to China for 10 months last year amounted to 95.2 million USD, and the imports volume – 164.4 million dollars. In order to increase the attraction of direct investments in the region, cooperation with many provinces of China was established last year. As a result of mutual visits, agreements and memorandums on implementation of projects worth 407.2 million USD were signed. 14 projects for production of building materials and consumer goods, metal processing, in the light industry with participation of China’s direct investment at the amount of 245 million USD are also being implemented in the region. In turn, Chinese entrepreneurs, representatives of various companies of this country are becoming familiar with the economic potential, conditions created for investors in Fergana.
Construction of a cement plant with a project cost of more than 153 million USD continues in Uzbekistan district of the region. Quqon Euro Qurilish Materiali joint venture was established in cooperation of LLC Juydam Tamir Qurilish with Chinese cement manufacturing company Beijing Triumph International Engineering Co.Ltd. It is planned to produce 1 million tons of cement and 33 million square meters of drywall annually based on the project of this joint venture, more than a thousand people will be provided with permanent work.