Sumgait: 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.
According to Azeri-Press News Agency, Zakir Farajov welcomed the guests and highlighted Sumgayit’s economic potential as the second-largest industrial center of the South Caucasus. He mentioned the city’s recent efforts in modernizing industrial enterprises and creating industrial parks focused on exporting products. Farajov also noted the strong ties between Sumgait and the Chinese cities of Xi’an, Mian, and Chung, mentioning various joint projects in industry, education, and culture.
He Zhenwei, president of the China Overseas Development Association, expressed appreciation for the warm reception. He pointed out that the visit was significant for investors to understand Sumgait’s economic potential better. Zhenwei stated that Chinese companies are interested in exploring joint projects in Azerbaijan, especially in Sumgait.
Zhenwei identified three primary areas for collaboration: transport and logistics routes from China to Europe via Kazakhstan and Baku, development of renewable energy projects in Azerbaijan, including solar and wind, and smart manufacturing related to the automotive industry, buildings, and management systems.
The meeting facilitated discussions where participants inquired about investment opportunities and received comprehensive responses to their queries.