Uzbekistan to create new enterprises in Kyrgyzstan
Baku, Azerbaijan, Jan.11
By Nigar Guliyeva – Trend:
Uzbekistan will open nine enterprises in Kyrgyzstan for servicing cars, assembling agricultural machinery, producing plastic parts, as well as other production facilities, Kyrgyz media reported citing Shumkarbek Adilbek uulu, Deputy Director of the Agency for Promotion and Protection of Investments.
He said that seven companies will have the status of Kyrgyz-Uzbek joint ventures (JVs). So, the Uzbek Artel Engineering and the Kyrgyz company LTB will assemble washing machines brand Artel, then Perfect Plast Profil and Imzo LTD will build a shop for the production of plastic and aluminum profiles.
In addition, the Uzbek UzAvtoSanoat and AvtoOdoozavod in Kyrgyzstan will open two enterprises for assembling agricultural machinery and trailers.
Also, the Uzbek company DT Technik and Avtotsentr Estakada from Kyrgyzstan will open factories for assembling buses and servicing transport, respectively. Furthermore, the company Avtotsentr Estakada and Ravon Motors Tien-Shan agreed on the opening of a plant to assemble cars and a dealer center.
In addition, the Tashkent-based Artel Engineering company will open its branch in Kyrgyzstan, and will also build the entertainment center MediaPark.
Relevant memorandums have already been concluded. Some of these enterprises are already established, while some are expected to be built before the end of 2018. New companies will open in the cities of Bishkek, Osh and Kara-Balta.
The National Statistics Committee of Kyrgyzstan reported that in January-September 2017, trade turnover between the countries amounted to $231.1 million, which indicates a 60 percent increase compared to the same period in 2016.
Kyrgyzstan exported goods to Uzbekistan for $ 109 million, which is 17 percent more than last year. The volume of imports from Uzbekistan amounted to $122.1 million, which is 2.6 times higher than last year's figure.
The parties intend to increase the turnover to $500 million a year.