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    Uzbekistan

    $1bn Chinese microchip plant set to transform Uzbekistan's economy

    $1bn Chinese microchip plant set to transform Uzbekistan's economy

    The authorities of the Tashkent region have finalized plans for the construction of a state-of-the-art Chinese microchip plant in Chirchik, Uzbekistan. The ambitious project, estimated to cost around $1bn, is set to commence in 2024 and will be situated within the Dezhou Technopark, the regional khokimiyat (city administration) reported.

    Dezhou Technopark to house the upcoming $1bn Chinese microchip plant in Uzbekistan
    Photo: Dezhou Technopark to house the upcoming $1bn Chinese microchip plant in Uzbekistan
    Source: Administration of Tashkent region / Telegram

    The agreement for the project was formalized during a recent visit by a delegation from the Tashkent region to Dezhou. The discussions, which included negotiations with city authorities and local business representatives, culminated in the signing of a strategic cooperation agreement. As part of this collaboration, both parties have committed to establishing a cutting-edge microchip production facility.

    The Chirchik-based plant is expected to play a pivotal role in enhancing the technological capabilities of Uzbekistan, fostering innovation, and contributing to the overall economic development of the region. Microchips are integral components in various electronic devices, including computers, smartphones, and other modern gadgets.

    Uzbekistan and China's diplomatic relations deepen, marking a milestone in regional cooperation
    Photo: Uzbekistan and China's diplomatic relations deepen, marking a milestone in regional cooperation
    Source: Administration of Tashkent region / Telegram

    Furthermore, Governor Nadir Yakubov of the Piskent District played a crucial role in diversifying the collaboration. He engaged in negotiations with Gujing Corporation in Bozhou, Shandong Province, resulting in an agreement to export agricultural products grown in the Piskent District. The deal is poised to open new avenues for economic cooperation and agricultural trade between the two regions.

    Mayor Nadir Yakubov and Bozhou City Mayor Chin Feng Yu further solidified the economic ties by agreeing to a substantial contract worth $85mn. This agreement is expected to contribute significantly to the economic prosperity of both the Piskent District and Bozhou City.

    Microchip plant construction signifies a technological leap for Uzbekistan, fostering innovation and economic development.
    Photo: Microchip plant construction signifies a technological leap for Uzbekistan, fostering innovation and economic development
    Source: Administration of Tashkent region / Telegram

    Uzbekistan and China Relations 

    The decision to undertake such a venture reflects the strengthening ties between Uzbekistan and China. Bilateral relations were officially established in 1992, and over the years, the two nations have deepened their diplomatic engagement. In 2001, Uzbekistan became a founding member of the Shanghai Cooperation Organization (SCO), marking a milestone in regional cooperation.

    The "China-Uzbek Treaty of Friendship and Cooperation" signed in 2005 further solidified the bond between the two countries. The relationship reached a comprehensive strategic partnership in June 2016, underlining the mutual commitment to fostering cooperation in various sectors.

    Uzbekistan's participation in the Belt and Road Initiative (BRI) since 2015 and its membership in China's Asian International Investment Bank (AIIB) underscore the country's dedication to economic sustainability and regional integration. President Mirziyoyev has actively participated in international forums such as the One Belt, One Road International Forum, strengthening ties with counterparts in East Asia and Central Asia to position Uzbekistan as a key player in the Caspian region.

     

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    11.12.2023, 19:14   Comments (0)   2221
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