Uzbekistan, Italy to establish joint production of hygiene items

Business Materials 11 March 2019 13:02 (UTC +04:00)

Baku, Azerbaijan, March 11

By Fakhri Vakilov-Trend:

Uzbekistan held talks with Italian partners to implement a modern investment project for the production of hygiene items worth over $30 million, Trend reports with reference to the press service of Uzbek Ministry of Foreign Affairs.

Uzbek Embassy in Italy organized an online video conference in the format of Rome-Tashkent-Moscow-Namangan-Chust. The directors and managers of a number of Italian companies and banks, the SACE Export Credit Insurance Agency and the Italy-Uzbekistan Chamber of Commerce took part in a video conference chaired by Ambassador Otabek Akbarov.

The project initiators from Chust district of Namangan region, representatives of regional and district administration, as well as representatives of leading banks of the country joined the conference from Uzbek side.

This project involves the attraction of foreign investment and advanced technologies in the economy of Uzbekistan, the creation of about 500 new jobs, significant import substitution in the local market, as well as export abroad.

The parties discussed practical aspects of early launch of the project and proposals for solving organizational, technical and financial issues.

An appropriate Action Plan was agreed at the end of the video conference.

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