Business / Companies

China's IZP Technologies to set up trading center in Kyrgyzstan

By WANG SUJUAN (China Daily) Updated: 2015-01-22 09:18

As China steps up efforts to build stronger connections with countries along an ancient trade route to the West, one Chinese e-commerce and big data company is planning bigger things.

IZP Technologies Co Ltd, one of the country's leading cross-border e-commerce and payment system company, is planning huge investments in Kyrgyzstan to facilitate trade between China and other European and Asian countries.

According to Luo Feng, chairman of IZP, the company plans to establish a trading center near the international airport in Bishkek, the capital of the land-locked Asian country which borders the Xinjiang Uygur autonomous region and use the project as a platform to exhibit products and promote deals.

The proposed project is part of the company's broader investments in Kyrgyzstan. Tapping into the geographic importance of Bishkek, the company also plans to establish a product trade center, a bonded export processing center and a financial settlement center in Bishkek.

With its edge in cloud computing and data mining technologies, Luo said the company will provide technological support for Kyrgyzstan's industrial upgrade.

"As a country with political stability and favorable environment, Kyrgyzstan is an ideal investment destination," Luo said. "We hope to help the implementation of the Silk Road Economic Belt through our investments."

Prime Minister of Kyrgyzstan Igor Chudinov has expressed his support to IZP. Chudinov said that Kyrgyzstan is looking to partner with more high-tech enterprises from China.

The new investment comes amid China's intensified efforts to build the Silk Road Economic Belt, an economic strategy designed to deepen cooperation and forge closer economic ties with European and Asian nations.

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