Tashkent, Uzbekistan (UzDaily.com) -- Uzbek diplomats held a meeting in Beijing with the vice president of the holding company China General Technology Group (Genertec) on the prospects for implementing projects in the field of engineering, healthcare, pharmaceuticals and localization of production in Uzbekistan, Dunyo news agency reported.

The Uzbek side presented promising project proposals, for which project documentation is at the stage of preparation. In addition, the parties discussed the projects of the Agency for the Development of the Pharmaceutical Industry.

The Chinese company agreed to consider projects proposed by the Uzbek side for import substitution of medicines, localization of assemblies of one of the budget models of GAC or Jeely cars, as well as the creation of a production base for machine tools in Uzbekistan on the principles of investing in a new project or cooperation with Uzbek companies in these areas.

Genertec is a state-owned holding company specializing in mechanical engineering for various industries, engineering, construction and trade.

The company is included in the Fortune Global 500 and employs over 50,000 people. The company’s turnover in 2020 was US$28 billion. Genertec has been actively working on the implementation of projects in Uzbekistan since 2003 in the railway, hydropower and construction sectors.