BAKU, Azerbaijan, June 6
By Ilkin Seyfaddini - Trend:
Uzbekistan, China may set up a joint venture for bearing production, Trend reports with reference to the press service of the Embassy of Uzbekistan in Beijing (China).
Representatives of Uzbekistan held negotiations with representatives of Dawn Industrial Co. Ltd. Company on June 5 on establishing a bearing production enterprise in Uzbekistan.
The Chinese company expressed readiness to establish a joint venture in Syrdarya free economic zone. The company plans to allocate $500,000 of direct investments at the initial stage.
Syrdarya Free Economic Zone was established in 2018 in accordance with the decree of President of Uzbekistan Shavkat Mirziyoyev, for the comprehensive and rational use of production and resource potential of Syrdarya region.
FEZ will contribute to ensuring comprehensive and effective use of production and resource potential of Syrdarya region with deep processing of mineral resources, expanding production of import-substituting products with high added value, the message said.
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