Investments in the textile cluster and the production of medicines in Kazakhstan were offered to the Chinese GENERTEC group
The working trip of Deputy Prime Minister - Minister of Trade and Integration Serik Zhumangarin to China ended with a meeting with the leadership of the state group of companies of China GENERTEC.
The holding specializes in the development of advanced manufacturing and technological consulting services, medicine and healthcare, trade and engineering, has 515 patents for inventions.
The three main areas are the production of equipment, materials, inspection and certification of tests. The Holding includes enterprises and research institutes, national comprehensive testing institutes and research institutes in the field of mechanical engineering, textile industry of China. The Group includes 25 operating enterprises in China and 70 foreign branches around the world, and also owns four listed companies.
In Kazakhstan in 2018, «SaryarkaAvtoProm» LLP and «China National Machinery IMP. & EXP. CORP» (a subsidiary «GENERTEС») signed an investment agreement worth $1.1 billion to join the capital of «SaryarkaAvtoProm».
Serik Zhumangarin at a meeting with the Chairman of the Board of GENERTEC Yu Xubo proposed to expand the scope of investments in Kazakhstan.
«We have a large pharmaceutical program. Our task is not just to provide medicines to the population, but to create national drug independence. We propose to consider two options for entering these markets in Kazakhstan. The first is to enter the capital of existing pharmaceutical manufacturers or create a new company and build your own factory. We can offer very good conditions, guaranteed procurement by the state. This market has the best conditions for investment. The second is to take part in the construction of large medical complexes, which are planned in 11 regions within the framework of the national project «Healthy Nation», — the Deputy Prime Minister announced the proposal.
Yu Xubo noted that the GENERTEC group of companies has a division that is engaged in the production of technologies for fabrics. In response, Serik Zhumangarin spoke about the creation of a textile cluster in the Turkestan region together with Uzbek colleagues.
«We could join forces and create a textile cluster together. We have cotton, but we cannot fully process it ourselves. Our processing volume is only 10% of the production volume», — S. Zhumangarin suggested.