Azernews.Az

By Kamila Aliyeva

China continues to strengthen business relations with the regions of Kazakhstan.

The delegation of the international business association from Shenzhen City of China visited Kargalinsky district of the Aktobe region.

As a result of the trip, a memorandum on cooperation between the regional akimat and the international association was signed, Kazinform reported.

The main goal of the arrival of Chinese businessmen in Kargalinsky district is to get acquainted with the investment potential and mineral deposits.

Upon arrival, the delegation visited the pond farm Ardaghym and the Velikhov deposit of iron ore of the Kargalinsky district.

Following this, an extended meeting, during which investors were informed about opportunities to develop nickel and iron ore deposits in the district, was held.

Chinese investors have expressed an interest in a long-term partnership with the Kargalinsky district for the development of deposits. Akim of the district Rakhat Sydykov noted that he is interested in attracting investments, which will create additional jobs and an influx of people into the district.

“We see how rich your district is, there is everything here - both in terms of agriculture, fish and mining. We specifically invited one of China's leading mining experts, Mr. Sun Yan, who works for the largest steel company in Asia and has his own production fields, and he is interested in developing deposits in Kazakhstan,” chairman of the international association Chen Baodong said.

He informed that recently in China, the state has closed the development of many fields that operated on environmental protection zones.

“The other day, an enterprise which employed 4,000 people was shut down due to the fact that 300 wild camels, listed in the Red Book, lived nearby. We suffered great losses,” he said.

After signing the memorandum, investors noted that a special analytical group of the association on collecting data and analyzing production costs will operate in order to come up to a specific investment decision.

Investors noted that China's market is huge and needs high-quality raw materials. In return, entrepreneurs offered their technology. For example, if the standard spinning of flax oil is 45 percent, then Chinese technology can increase the spin up to 85 percent. The cost of flax oil in the Chinese market, according to Chen Baodong, is $30.

The international association includes 100 largest companies of China, the main activities of which are mining and processing of minerals. In addition to state-owned enterprises, it includes the best public enterprises in China. The total assets of companies amount to 10 billion yuan. The city of Shenzhen with 20 million people was nicknamed the Silicon Valley of Asia, where the most advanced technologies are used.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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