The Tianjin Economic Development Zone TEDA, one of the leading special economic zones of China, was visited by the Tatarstan delegation on Monday, December 19 to discuss the prospects of cooperation and the establishment of a joint venture. The delegation included the head of Tatarstan Investment Development Agency Talia Minullina and Director General of SEZ "Alabuga" Timur Shagivaleev. The delegation was accompanied by the Ambassador Extraordinary and Plenipotent of Russia in China, Andrey Denisov, general co-director of the Russian-Chinese investment fund Hu Bin, managing partners of the Russian and Chinese offices of the auditing company "PriceWaterhouseCoopers".
The Tianjin Economic Development Zone is one of the first special economic zones of China. It was established in 1984 near the Tianjin city, which is 140 kilometers away from Beijing on the Yellow Sea coast. After 30 years, TEDA is one of the largest and most successful areas of economic development of China. It provides Chinese and foreign investors with favorable investment climate and finished industrial and social infrastructure. Today in TEDA registered nearly 19 thousand resident companies with a total investment size of more than 110 billion dollars. Among them, 5.5 thousand foreign companies with investment size $ 53 billion. Only in 2015 the increase of foreign investment in TEDA was $ 6.7 billion.
Industrial production area amounted to over $ 110 billion in 2015, 22 billion of which came from exports. The largest TEDA plants are Samsung, Volkswagen, Toyota, among foreign companies there are several well-known brands such as Motorola, Bridgestone, Continental.
Management of special economic zone "Alabuga" TEDA is considering as a potential partner in a promising joint venture with a Chinese company. It is expected that the joint venture will attract 8-10 billion rubles of investments for the further development of the infrastructure of "Alabuga". Also, the presence of the Chinese partner will contribute to the attractiveness of the site in Tatarstan for Chinese investors.
Members of Tatarstan delegation met with the Chairman of TEDA - Mr. Wang Shen. Talia Minullina presented to the leadership of the Chinese area investment potential of Tatarstan, in turn, Timur Shagivaleev provided details of a special economic zone "Alabuga": its history, its contemporary achievements and development plans.
Presentations were also given by the representatives of the PriceWaterhouseCoopers company, who are developers and auditors of the prospective business plan of the joint venture of "Alabuga" and the Chinese SEZ. As an authoritative independent expert, PWC confirmed the high reliability of the special economic zone "Alabuga", noting a constant and stable growth of key indicators: the number of residents and the volume of investments. Also, experts paid attention to the high assessment given to "Alabuga" by authoritative magazine fDi Intelligence (Financial Times group publication). According to PWC experts, the special economic zone "Alabuga" is the most suitable location for the production of foreign companies, including Chinese ones.
The experts also noted a comfortable investment climate in Tatarstan in general and recalled the examples of such successful cooperation of the republic with the China as Haier plant in Naberezhnye Chelny and construction of "Ammonium" plant in cooperation with CNCEC company.
The sides agreed to continue cooperation. A joint working group will be created, which will be in charge of preparation for the return visit of the Chinese side to Tatarstan.
At the end of the visit to the headquarters of TEDA, the meeting of Tatarstan delegation with representatives of Tianjin resident companies has been held. Head of "China" department in SEZ "Alabuga" Evgeny Gorshkov in the Chinese language presented the investment opportunities of Tatarstan site to current residents of TEDA, expressing hope that these companies very soon will the "Alabuga" residents.
Share
