Number of Chinese companies operating in Uzbekistan on the rise

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TASHKENT (TCA) — The number of Chinese companies operating in Uzbekistan steadily grows and had reached 1,611 as of December 1, 2019, second only to Russia in the number of foreign entities in the Central Asian country, Xinhua news agency reported with reference to the Uzbek State Statistics Committee.

Chinese companies in Uzbekistan are involved in the areas of oil and gas exploration, pipeline transport, infrastructure building, telecommunications, textiles, chemicals, logistics, and agriculture, according to the Statistics Committee.

China is one of Uzbekistan’s largest trading partners. Last year, China-Uzbekistan trade surged 48.4 percent year-on-year, reaching 6.26 billion U.S. dollars.

Statistics show that enterprises operating with foreign capital in Uzbekistan are mostly from Russia, China, Turkey, South Korea, Kazakhstan, and other countries. Their investments are concentrated in industries, foreign trade, construction and agriculture.

Uzbekistan has been opening up its economy and carrying out reforms in the last two years to attract foreign direct investment. President Shavkat Mirziyoyev has tasked the Uzbek government with increasing foreign direct investment up to 4.2 billion U.S. dollars in 2019.

Uzbekistan also aims to attract more foreign tourists, including visitors from China.

Sergey Kwan

TCA