Tatarstan delegation visits Tianjin Economic-Technological Development Area in China

On December 19, during a working visit to Chinese People's Republic, Tatarstan delegation visited Tianjin Economic-Technological Development Area (TEDA), one of the leading special economic zones in China.

The main purpose of the visit to TEDA is to discuss prospects of cooperation and setting up a joint venture.

Set up in 1984, Tianjin Economic-Technological Development Area is one of the first special economic zones in China. It provides a favorable investment climate and industrial and social infrastructure for Chinese and foreign investors. Today, there are almost 19,000 resident companies with a total investment of over 110 billion US dollars in the TEDA.

The management of the Alabuga special economic zone is considering the TEDA as a potential partner in a setting up a joint venture with a Chinese company. It is expected that the joint venture will make it possible to attract 8-10 billion roubles of investments for further infrastructure development the Special economic zone «Alabuga». Moreover, the presence of the Chinese partner will contribute to the attractiveness of the Tatarstan site for Chinese investors.

During the meeting with Chairman of TEDA Wang Shen, CEO of Tatarstan Investment Development Agency Taliya Minullina presented investment potential of Tatarstan to TEDA's leadership. In his turn, Director General of SEZ "Alabuga" Timur Shagivaleev told in detials about the history, achievements and plans for the development of the zone.

Following the results of the meeting, the parties have agreed to set up a joint working group, which, among other things, will be responsible for the preparation of a return visit of the Chinese delegation to Tatarstan.