Hualing International Special Economic Zone

Hualing International Special Economic Zone 

In July 2012, "Hualing International Special Economic Zone" of over 4.66 million square meters held foundation laying ceremony in Georgia. The initial investment of this project is USD 300 million.For the purpose of promoting the formation and development of the "Black Sea International Commercial and Trade Rim", Hualing Group built the largest modern commercial and trade metropolis with the highest scale in the region of Transcaucasia and Black Sea Rim, which includes market area, processing area, tourism, trade and display area, restaurants, five-star hotels, and entertainment area. Now, part of the market area has been put into trial operation, which includes the main operating building of the market area, hotels, residential buildings, fitness center, warehouse area, trade and display area, etc. In September 2017, a five-storey main market building with a total length of 500 meters and a building area of 120,000 square meters was officially opened.

Healing ISEZ, a project issued by Presidential Decree, is approved by the Parliament of Georgia. The overall layout of this project is “One Axis, Two Wings, and Three Blocksc: “One Axis” refers to as the central landscape axis; “Two Wings” refers to as the market area and living area, the layout which looks like wings of a butterfly; “Three Blocks” refers to as market and commercial supporting block, residential and living supporting block, and waterfront recreation and tourist resort block.

From July 26th to August 1st, 2015, the 2015 European Youth Olympic Festival was held in Tbilisi, the capital of Georgia. The European Youth Olympic Village is located in the Hualing International Special Economic Zone. In order to cope with the smooth running of the European Youth Olympic Festival, the Youth Olympic Village apartment, athlete restaurant and entertainment  center and five-star hotel had been used as the apartment for officials, coaches and athletes of the Youth Olympic Games for free for 3months. Among them, the total area of Youth Olympic Village, Recreation Center, swimming pool and other service projects have reached more than 400,000 square meters. This is the most modern residential area which has currently completed in Tbilisi. It has gardens with Chinese characteristics and has become the new logo of Tbilisi. At the opening ceremony of the Youth Olympic Village on July 20th, Georgian Prime Minister Gary Bashvili said that Youth Olympic Village provides the best accommodation for athletes and coaches from all over the European countries. And he expressed his appreciation to Hualing Group, the contractor of the athletes' village, for completing the construction task in a limited time.

The Georgian government has granted a number of favorable conditions for the Hualing Special Economic Zone to ensure the investment rights and interests of the "Special Economic Zones" project. For example, preferential policies of exempting all construction parties within 10 years can be given to the construction party; free trade zones can be set up in the Hualing International Special Economic Zones, processing equipment, machinery, supplies and materials required by enterprises in the bonded areas can be exempted from import duties and added-value tax. At the same time, a tax-free industrial zone can be set up in Hualing International Special Economic Zone to enjoy the preferential policies of the current Georgian tax-free industrial zone law. Taxpayers who enter the special economic zones can be given a low value-added tax rate of 3% -5% only.

The construction of the Hualing International Special Economic Zone project in Tbilisi, the capital of Georgia, is in line with the national industrial policy orientation and with the common interest of both China and Georgia. The implementation of the project is a concrete action to implement the national “going out” strategy. It can build a good platform for Chinese enterprises to develop in Georgia and promote the healthy development of China-Georgia trade. Georgia is also an important node in the economic belt of the Silk Road. It is the first country in the outer Caucasus signing the Free Trade Agreement with China. It is of great significance to the implementation of China's “the Belt, the Road” initiative and the overall layout of the free trade zone strategy.In particular, Georgia has signed a link agreement with the European Union, and has signed a free trade agreement with Russia and other CIS countries and Turkey, which is of great help to Chinese enterprises going abroad and radiating the surrounding national markets. The location advantage of Hualing International Special Economic Zone project will be more prominent, and it will also bring historic development opportunities to Hualing Group and better display the good image of Xinjiang brand in the world.