Ahead of the visit of President Shavkat Mirziyoyev to China, Xian today hosted an Uzbek-Chinese business forum, which was attended by delegates of over 400 major Chinese companies.
Addressing the forum participants with a welcoming speech, the Minister of Investments, Industry and Trade of Uzbekistan Laziz Kudratov highly valued the resolute attitude of Chinese businesses to launch partnership, the Ministry of Investments, Industry and Trade reported.
He emphasized the consistent upward trend in the two-way trade, economic and in the investment.In 2022, the two way trade increased by 20% and reached a record $9 billion. While, the heads of the two countries set a specific goal - to bring the figure to $10 billion this year, which can be achieved through joint efforts and coordinated actions.
He also underscored the stable growth in the investment sector, with the total volume of disbursed Chinese investments increasing by 5 times since 2017 topping $11 billion. In 2022 alone, $2.2 billion of Chinese investment was disbursed. The number of joint ventures in Uzbekistan has tripled over the past 5 years.
Chinese business leaders were presented with the positive structural transformations and comfortable facilities created in Uzbekistan for doing business. The introduction of tax and customs benefits for investors, the formation of a compact state apparatus, the deregulation of business, the introduction of the “one stop shop” principle when working with investors, the constitutional protection of private property and the independence of the judiciary aroused great interest.
The speakers called on Chinese businesses to take advantage of the created conditions. In this context, he pointed to the automotive industry, including the use of alternative energy sources, green energy, agriculture and fruit and vegetable processing the most promising areas of partnership.
The forum also included presentations of specific project proposals and initiatives for joint implementation, covering dozens of different areas and areas. The participants of the forum were able to discuss the upcoming cooperation in more detail within the framework of B2B and G2B negotiations.
At the event were also signed agreements on the implementation of joint investment projects and trade contracts.