Central Asian Media: China's Investment in Uzbekistan, a Dual Landlocked Country in Central Asia, Exceeds $8 Billion This Year

During the Tashkent International Investment Forum, President Shavkat Mirziyoyev of Uzbekistan met with a delegation composed of representatives from major Chinese enterprises and financial institutions. The discussions focused on new investment projects in energy, mining, infrastructure, and finance.

The Chinese delegation was led by Wang Hongzhi, head of the National Energy Administration, and included executives from China Energy Engineering Group, China Datang Corporation, Zhongcai Energy Conservation, China Southern Power Grid, China International Engineering, China National Nuclear Corporation, and State Nuclear Uranium Industry Development Co., Ltd. Representatives from China Exim Bank and Bank of China also attended the meeting.

According to the press office of the President of Uzbekistan, the talks emphasized high-tech projects in the fields of energy and geology, as well as cooperation in banking and finance.

Mirziyoyev welcomed the rapid development of economic and trade relations between Uzbekistan and China. This year, bilateral trade has already exceeded $6 billion, while direct Chinese investment in Uzbekistan has surpassed $8 billion. Currently, nearly 6,000 joint ventures involving Chinese partners are operating within the country.

Renewable energy projects were among the key topics discussed. Chinese companies have already participated in the construction of solar and wind power stations, as well as energy storage systems, across Uzbekistan.

All parties supported plans to accelerate ongoing projects and launch new initiatives, including expanding photovoltaic capacity, introducing "agri-photovoltaics" technology (combining agricultural production with solar power generation), and building new transmission lines.

The meeting also explored cooperation in waste-to-energy projects and advanced technological solutions, including modern data centers.

In the fields of mining and geology, officials discussed joint exploration and development of mineral resources and reviewed long-term partnership arrangements regarding critical raw material supply.

Financial cooperation was another key topic. Participants discussed opportunities for Bank of China to support infrastructure projects, modernization of irrigation systems, highway construction, hydropower development, agricultural machinery supply, and financing for small and medium-sized enterprises.

Earlier this year, at the third Uz-China Local Cooperation Forum held in Xi’an, investment and export agreements totaling over $3.5 billion were concluded, including $3.35 billion in investment projects and $15.6 million in export contracts. Officials stated that these agreements would support the modernization of infrastructure, transportation development, environmental services, and industrial production.

At the Xi’an forum, speakers noted that last year’s bilateral trade reached nearly $18 billion, and cumulative Chinese investment in Uzbekistan had amounted to $17 billion.

Source: Central Asian Times

Author: Sodikat Jallolova

Original article: toutiao.com/article/1868930812849163/

Disclaimer: The views expressed in this article are those of the author.