Фото: nm.tj

Chinese state corporation China Machinery Industry Construction Group Inc to invest 300million in cotton processing in Tajikistan, reports Asia plus.

Minister of Economic Development and Trade of Tajikistan Nematullo Hikmatullozoda met with the delegation of Chinese businessmen under the leadership of trade issues manager of China Machinery Industry Construction Group Inc Hu Xing yesterday. During the meeting,  the Chinese state corporation noted that it would assist "Sino Tajikistan Kulyab Textile Industry Park" to attract foreign direct investment to process cotton fiber.

It will be implemented in two phases. At the first stage financing amounts to 130 million dollars and the second - 170 million dollars.

Moreover, about 5,5 thousand people will be employed at this enterprise. According to the plan, annual cotton processing will make 35 thousand tons.

In addition, it is important to note that international experts concerns about China investment in Tajikistan. Because, according to the statistics from 2017, 58% of foreign investment in Tajikistan was invested by China. So, American experts believe that if it continues it will eventually lead to economic expansion of China and Tajikistan may lose its economic independence.

"The Qazaq Times"