China expanding investments in Uzbek economy

Business Materials 10 July 2018 09:54 (UTC +04:00)

Baku, Azerbaijan, July 10

By Fikret Dolukhanov – Trend:

The Uzbek joint-stock commercial bank Agrobank and the Industrial Commercial Bank of China (ICBC) signed a framework agreement on cooperation development on July 9, the Uzbek bank reported.

The agreement was achieved within the framework of the One Belt, One Way initiative and is aimed at developing mutual relations between entrepreneurs of the two countries by providing long-term loans, ensuring expansion of economic and trade relations, and developing investment activities of Uzbekistan and China.

The document will help attract investments for implementation of large-scale projects that promote development of business relations of the two countries, such as acquisition of modern equipment and technologies, electronic devices, as well as exploration and exploitation of natural resources, energy exploration, construction work, etc.

It was reported on July 9 that investors from China may establish production of small load trucks in the Pap district of Namangan region of Uzbekistan

Earlier, Uzbekistan started modernization of three hydropower plants by the loans allocated by the Export-Import Bank (Exim Bank) of China.


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