The Development Corporation and Wang GuoFu Ltd Holding, a company that produces polymer materials, signed a cooperation agreement during a business mission led by representatives of Bashkortostan to Chinese cities Nanjing and Suzhou. This document establishes the intention of both parties to develop bilateral relations in the fields of investment climate improvement and the implementation of joint investment projects.
– The signing of this agreement is a significant step towards establishing new avenues of cooperation with our Chinese partners,– said Nail Gabbasov, the General Director of the Bashkortostan Development Corporation, – We aim to engage the local business community in Bashkortostan’s production facilities to produce high-quality, technologically advanced products that will compete successfully in both domestic and international markets.
One of the main highlights of the program in China was a visit to the Suzhou Chamber of Commerce and Industry and its industrial park. After touring the park, members of the Bashkortostan delegation gave a presentation on the investment potential of their region, which attracted more than 40 companies interested in establishing mutually beneficial relationships. Special attention was given to the Alga Special Economic Zone. Artem Penzin, director of the SEZ management company, explained to foreign investors the benefits of doing business there, the preferences for residents, and the support offered by the Development Corporation for their projects.
– Currently, the Alga Special Economic Zone (SEZ) consists of 24 companies that intend to invest approximately 62 billion rubles through their projects. It is worth noting that all companies enjoy exceptional tax and customs benefits that are not available in other regions. Additionally, they have access to a pre-existing industrial infrastructure for setting up production facilities,” stated Artyom Penzin during his speech.
The business mission to China was led by Margarita Bolycheva, the Minister of Foreign Economic Relations and International Cooperation. The delegation participated in several events, including business-to-business meetings with Chinese entrepreneurs. Representatives from the Development Corporation were also present at these events.