19.12.2016

A successful tandem of Tatarstan and China

Cooperation with phenomenally fast-growing China is considered a common courtesy feature in today's world. Nowadays, the economy of China grows at an exceptional pace - everybody heard of economic miracle of China. And Tatarstan, as a megacorporation, is no exception to many other countries and republics, who place their stake on this miracle.

Thus, the delegation of the Republic of Tatarstan is in the People's Republic of China. The Head of Tatarstan Investment Development Agency is also a part of delegation.

The delegation of the Republic of Tatarstan is accompanied by the Ambassador Extraordinary and Plenipotentiary of the Russian Federation to China Andrey Denisov, the Co-CEO of the Russian-Chinese Investment Fund Hu Bing, managing partners of Russian and Chinese offices of audit services provider PriceWaterhouseCoopers.

The delegation visited Tianjin Economic - Technological Development Area (TEDA) which is one of the leading economic zones of China.

The primary objective of the visit is the discussion of prospectives of cooperation and creation of a joint company. The management of Special Economic Zone "Alabuga" perceives TEDA as a potential partner in a promising joint venture with a Chinese company. The members of Tatarstan's delegation met the Chairman of TEDA Mr. Wang Sheng. During the meeting, the Head of Tatarstan Investment Development Agency Taliya Minullina presented the investment potential of Tatarstan to the management of Chinese zone, told about the history, modern achievements and development plans of Special Economic Zone "Alabuga".

"China is a strategic partner for us. Today Tatarstan has all the conditions required for creation of a modern, dynamically developing enterprise. Joint venture will enable to attract about 8-10 billion rubles of investments in further development of infrastructure of SEZ "Alabuga", and partnership with China will promote attractiveness of the site in Tatarstan for Chinese investors," - Taliya Minullina reported.

At the conclusion of the meeting the parties agreed to continue cooperation: the joint working group will be established, which in addition to other other topics would prepare reciprocal visits from China to Tatarstan.

It should be mentioned, that Tatarstan is actively engaged with Chinese partners. For example, this February a fertilizer plant "Ammoni", which was built with direct participation of China National Chemical and Engineering Corporation, was opened in Mendeleevsk. In April Chinese corporation "Haier" launched production of refrigerators in Naberezhnye Chelny.

So, this year the total investment from People's Republic of China amounted over 50 million dollars.
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