For the Republic of Uzbekistan the further development of the Jizzakh special industrial
zone created in 2013 and transformed in 2018 Syrdarya SIZ, in which Chinese investors were
provided with favorable conditions and preferences, is particularly important. The cooperation
within this free-industrial zone opens prerequisites for further deepening bilateral relations, gives
dynamism to trade and economic relations between Uzbekistan and China, and also creates
conditions for joint access to the markets of third countries.
Today “Pen Sheng Industrial Park” is one of the successfully implemented projects in
Uzbekistan with the direct participation of Chinese private business.
Along with this, according to the Decree of the President of the Republic of Uzbekistan, four
free economic zones were created, “Urgut”, “Gijduvan”, “Kokand” and “Khazarasp”, which
provide tremendous opportunities for foreign investors, including Chinese business
representatives. During the term of operation, special tax, customs and foreign exchange
regimes are operated in the territories of FEZ’s, it is also planned to create logistic centers and
customs posts.
With the growing demand for energy and consumer goods in China, it is in the strategic
interest of both countries to attract investment in the creation of modern plants for the deep
processing of mineral and agricultural resources, as well as the integrated use of the production
and resource potential of Samarkand, Bukhara, Fergana and Khorezm regions.
Furthermore, the use of the financial and investment potential of the Asian Infrastructure
Investment Bank (AIIB) can be of great benefit to Uzbekistan. In particular, the priority directions
of investment activities of the AIIB are for projects in the field of energy resources, transport,
rural infrastructure and logistics.
On the whole, the measures taken by the Leadership of Uzbekistan do not only create
favorable conditions for business development, for foreign investors, including China, but also
open up new opportunities for the country to acquire a more significant role in regional
processes, especially against the background of the growing strategic importance of Central Asia
as a “hub” in Eurasia. The intensification of cooperation between Uzbekistan and China meets
the strategic interests of both countries, who are seeking to diversify and expand their own
economic opportunities.
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