Chinese Investors to Finance $110M High-Tech Projects in Almalyk
Chinese investors have revealed their ambitious plans to launch five cutting-edge production projects in Almalyk, Tashkent region, with a total investment of $110 million. These initiatives are set to not only enhance Uzbekistan’s technological and industrial capabilities but also create more than 500 job opportunities.
The decision to pursue these projects was made following a delegation visit to Hangzhou, led by Almalyk city mayor Kobil Khamdamov. The delegation engaged in fruitful discussions with Chinese companies, focusing on the establishment of production facilities for LED lamps, primary processing of materials for semiconductors, and other advanced technologies.
A memorandum of understanding was signed during the visit, highlighting the commitment to manufacturing innovative products. The investment will primarily support the development of LED lamp production and the processing of raw materials for chips and microcircuits. These facilities are anticipated to make a substantial impact on the local economy by generating employment opportunities and advancing Uzbekistan’s technological landscape.
Furthermore, the delegation met with Wang Licheng, Chairman of the Board of Holley Group, to expedite the implementation of joint projects. Holley Group, a well-known Chinese company, had previously announced its intention to establish a technopark in Tashkent region specializing in electrical engineering. This initiative encompasses the production of transformers and semiconductor products within the Angren Special Economic Zone.
A detailed roadmap for the projects is anticipated to be finalized by early 2025, with regular discussions scheduled to ensure smooth progress. This collaboration between Chinese investors and Uzbekistan holds great promise for the development of high-tech industries in the region, fostering economic growth and technological advancement.
