Baku, Azerbaijan, Oct. 4
By Fikret Dolukhanov – Trend:
Uzbekistan and the United Arab Emirates signed an agreement on establishment of a direct investment fund with a capital of $1 billion within the framework of the Uzbek-Emirates business forum in Tashkent, the press service of the State Investment Committee of Uzbekistan announced.
The event with the participation of the business circles of the two countries was organized by the State Investment Committee of Uzbekistan with the support of the Embassy of Uzbekistan in the UAE and the Consulate General of Uzbekistan in Dubai.
Earlier it was reported that the National Bank of Uzbekistan and the Abu Dhabi Development Fund are jointly implementing a project to build an international hotel and a tourist shopping and entertainment center in Samarkand, which will increase the tourist potential of the city. The cost of the project will be $100 million.
In the 1H2018, the trade turnover between Uzbekistan and the UAE amounted to $58.5 million, of which $22.5 million accounted for exports to the UAE, $36.0 million accounted for imports. Currently, there are 88 enterprises in Uzbekistan with participation of capital from the UAE.
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