Entrepreneurs from Uzbekistan and China agree to push ahead with $25bn of projects

By bne IntelIiNews May 19, 2023

Entrepreneurs from Uzbekistan and China agreed to push ahead with $25bn worth of projects on the sidelines of a business forum in China.

Some 41 documents aimed at deepening cooperation between the two countries were signed on the eve of the China-Central Asia Summit  in Xian, China, on April 18.

Among other deals, agreements were reached on financing the construction of power lines and substations; creating a multimodal logistics centre; renewing and modernising Uzbekistan Railways locomotives; constructing an Uzbek-Chinese agro-industrial park; creating an Uzbek-Chinese biotechnological cluster; expanding the telecommunications infrastructure of Uzbektelecom; jointly producing Chinese brand EXEED cars; and producing electric vehicles (EVs) and hybrid cars jointly with China’s BYD Auto Industry.

On the same day, Uzbekistan’s President Shavkat Mirziyoyev and Chinese President Xi Jinping met and discussed matters including cooperation in the fight against poverty, the development of alternative energy sources and the production of EVs and hybrid cars.

The heads of state also emphasised the importance of making an early start on practical work required for the construction of the planned China-Kyrgyzstan-Uzbekistan (CKU) railway.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Ferkensco to construct $600mn nitrogen fertilizer plant in Uzbekistan’s Karakul FEZ

Investment company Ferkensco Management is to construct a 495,000 tonne/year nitrogen fertilizer plant in Uzbekistan’s Karakul Free Economic Zone (FEZ), UzA ... more

Foreign investors will likely only pick up shares from Uzbekistan’s ‘People’s IPOs’ in secondary market says Bluestone head

International investors will probably only be able to pick up shares in Uzbekistan’s next wave of privatisations—dubbed the “People’s IPOs”—in the secondary market. That’s according ... more

Uzbekistan's Mirziyoyev appoints daughter to position seen as ‘head of presidential administration’

Uzbekistan's President Shavkat Mirziyoyev has appointed his 38-year-old daughter, Saida Mirziyoyeva, as an assistant to the president, the official Telegram channel of the president announced on ... more

Follow Us On

Most Read

  1. The fall of Nagorno-Karabakh
    2 days ago
  2. Missiles strikes on Crimea kill nine, as Ukraine breaks through Russia’s last line of defence in Zaporizhia
    1 day ago
  3. Russia bans fuel exports as deliveries to military surge
    3 days ago
  4. Russia overtakes Germany to become fifth biggest economy in the world in GDP on a PPP basis
    1 month ago
  5. Unidentified air defence accident over northern Iranian city of Gorgan
    6 days ago
  1. BRICS MATERIALS: the flourishing intra-BRICS oil trade
    28 days ago
  2. Russia overtakes Germany to become fifth biggest economy in the world in GDP on a PPP basis
    1 month ago
  3. Russia mulls drastic measures as domestic fuel shortage crisis grows
    13 days ago
  4. Rare Subtropical Storm Daniel hits Libya, causing flooding and havoc
    14 days ago
  5. Niger coup threatens Nigeria-Morocco 30bcm gas pipeline project
    1 month ago

Reports

Dismiss