The head of the Sumgayit City Executive Power, Zakir Farajov, received representatives of 20 companies representing 12 provinces of the People's Republic of China, APA reports.
The meeting was attended mainly by investors from the private sector.
Welcoming the guests, Zakir Farajov said that Sumgayit has broad economic potential as the second-largest industrial center of the South Caucasus. In recent years, the city has taken important steps towards the modernization of industrial enterprises and the creation of industrial parks producing export-oriented products. The head of the city also emphasized that there are fraternal relations between Sumgayit and the Chinese cities of Xi'an, Mian and Chung, and within the framework of these relations, a number of joint projects have been implemented in the fields of industry, education and culture.
He Zhenwei, president of the China Overseas Development Association, expressed his gratitude for the cordial reception and noted that his visit is of great importance for investors to gain a closer understanding of Sumgait’s economic potential. He emphasized that Chinese companies are interested in joint projects in Azerbaijan, particularly in Sumgait.
He highlighted three main areas of cooperation: transport and logistics routes from China to Europe via Kazakhstan and Baku, the development of renewable energy projects in Azerbaijan, including solar and wind, and smart manufacturing involving the automotive industry, buildings, and management systems.
The meeting was held in an atmosphere of discussion, the participants asked questions about investment opportunities and were given detailed answers to the issues of interest to them.
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