Uzbekistan and China are launching projects worth $56.7 billion.

Entrepreneurs participating in the joint investment forum in Shenzhen reported that during the state visit of the President of Uzbekistan, Shavkat Mirziyoyev, to the People's Republic of China, agreements were reached to implement approximately 500 projects with a total value of $56.7 billion.

The investment forum gathered heads of departments and regions from both countries, along with over 600 representatives from major Chinese businesses. Among them were top management from China's "National Petroleum and Natural Gas Corporation," "National Chemical Engineering Corporation," Aerospace Science and Industry Corporation, as well as companies like China Energy, Gezhouba Group, China CAMC Engineering, Huawei Technologies, SANY Renewable Energy, BYD Auto Industry, Xinjiang Hualing Group, ZTE, TBEA, Universal Energy, China Development Bank, State Development Bank, Export-Import Bank of China, and many others.

In his opening remarks, the head of state warmly welcomed all participants and highlighted the significance of holding the forum in Shenzhen, which is rightly considered the innovation capital of the People's Republic of China.

Today, the comprehensive and mutually beneficial relations between our countries are dynamically developing, primarily due to economic cooperation,

- emphasized the President.

He expressed deep satisfaction with the fruitful negotiations held with the Chairman of China, Xi Jinping, the day before. Among the outcomes were agreements to support and create favorable conditions for business representatives from both countries.

This will also be facilitated by the adoption of a historic document - the Joint Statement of the Leaders of the Two Countries, which elevates Uzbek-Chinese relations to the level of "all-weather" comprehensive strategic partnership.

The President paid special attention to the dynamic growth rates and scale of trade, economic, and investment interactions between the two countries.

The President of Uzbekistan highly praised the first interregional forum and industrial product exhibition held the day before in Urumqi, where important investment agreements were signed.

He emphasized the readiness to give this business platform a systematic character and to hold the next forum in Uzbekistan. The head of state also welcomed plans to establish a permanent Council of Regions of the Two Countries.

In New Uzbekistan, structural transformations are underway to liberalize the economy and implement market mechanisms.

A Fund for supporting projects for the production of high-tech industrial products has been established. Starting this month, "industrial mortgages" will be launched, allowing land and production facilities to be transferred to investors as "ready businesses." It has been noted that significant attention is being paid to accelerating the privatization processes of large banks, industrial and infrastructure facilities, and to implementing public-private partnership mechanisms.

Highlighting the importance of mobilizing joint efforts to promote new projects and initiatives, the head of state outlined further priorities and promising areas of cooperation.

Among them is the expansion of partnerships with Chinese companies by simplifying the process of attracting funds from Chinese financial institutions for infrastructure development projects, industrial cooperation in priority sectors of the economy, including the deep processing of strategic raw materials.

Additionally, attracting advanced Chinese technologies in sustainable agriculture and implementing scientific approaches for land rehabilitation and the cultivation of salt-resistant plants was specifically emphasized.

Important directions included further promotion of strategic partnership in "green" energy and participation of Chinese companies in the privatization program.

In this regard, the agreements reached with Chinese partners to expand the investment portfolio of infrastructure and industrial cooperation development projects were noted with satisfaction.

It was also emphasized that the successful activities of Chinese partners in Uzbekistan will receive a strong boost from the decisions made during the current visit regarding the expansion of project financing by leading Chinese banks, the opening of a representative office of the Export-Import Bank, and the creation of a new Investment Platform with the "Silk Road" Fund.

- noted President Shavkat Mirziyoyev.

In a welcoming speech to the participants of the business forum, the Secretary of the Party Committee of Guangdong Province, Huang Kunmin, also addressed the audience. He expressed full support for the irreversible reforms being pursued by the President of Uzbekistan and, noting the great opportunities opening up in the republic, urged Chinese businesses to participate even more actively in the implementation of mutually beneficial projects in our country.

As a result of the business forum, a substantial package of documents was signed for the implementation of projects in the fields of energy, oil and gas, mining, electrical engineering, light industry, machine engineering, infrastructure development, agriculture, education, transport
and logistics.

A "road map" will be developed, assigning responsible managers for each project.

In conclusion, President Shavkat Mirziyoyev proposed organizing the Guangdong Investment Forum on an annual basis, suggesting that the next meeting be held next year in Samarkand.

Earlier, we reported that over the past year, the total volume of investments and loans from China in Uzbekistan's economy amounted to just over $4 billion.