Penza, 14 May 2015. PenzaNews. The business development potential of the Penza region was presented to a delegation of entrepreneurs from the Chinese province of Sichuan during a roundtable discussion held in the Penza business incubator on Volodarskovo street on Thursday, May 14.

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The group of ten PRC businessmen was led by Wang Hongzhang, Vice-Chairman of Sichuan Province Entreprise Confederation and Entrepreneur Association.

Among the rest of the members are heads of industrial parks, accounting, agricultural, industrial and construction companies, as well as hi-tech development enterprises.

The roundtable discussion was dedicated to main areas of cooperation between the two regions. The foreign partners were shown a presentation on potential of the Penza region industrial parks.

The deputy chairman of the Penza region government Vyacheslav Orel helped the Chinese entrepreneurs become acquainted with the local investment climate specifics.

“We have comfortable business development conditions, including for those funded by foreign capital. We have quite a few projects. One of the largest is created in cooperation with Olam from Singapore: a project to construct a dairy farms for 50,000 cows. Two of them, for 3,600 and 4,600 cows respectively, have already been built,” he said.

Moreover, the region also shows growth in poultry meat production, Vyacheslav Orel pointed out.

“Over 230,000 tons as of today. We have great resources in terms of farming lands: 2 million 200,000 hectares. The region has 1 million hectares of forests, and 500,000 cubic meters of wood can be involved in investment projects. We have great industrial potential in many areas, including the military,” stressed the deputy chairman of the regional government.

He also expressed belief that the potential for mutually developed projects of the Penza region are attractive for many investors, including the Chinese.

The foreign businessman followed the presentation with the questions. They were primarily interested in preferential tax advantages, conditions of import and export of capital, and types, availability and quality of services provided by local banks.

Answering the question about the tax load on the businesses, Vyacheslav Orel explained they are ready to reduce the taxes from 20% to 15.5% for the foreign investors.

The Chinese delegation also plans to use the visit to inspect the industrial location “PZVT” and the Rameev technopark.