Uzbekistan, China set up $1 B investment fund

Business Materials 28 August 2019 18:58 (UTC +04:00)

Baku, Azerbaijan, Aug 28

By Fakhri Vakilov-Trend:

Ministry of Investments and Foreign Trade of Uzbekistan and the Chinese CITIC Corporation signed an agreement to create a joint investment fund, Trend reports citing the Ministry of Investments and Foreign Trade.

The agreement was signed as part of the visit of Prime Minister of Uzbekistan Abdulla Aripov to China on August 27.

The authorized capital of the fund is $1 billion.

By prior agreement with Chinese partners, emphasis in cooperation will be made at industrial enterprises in the chemical and petrochemical industries and production facilities in the oil and gas sector.

In the near future, the Uzbek side will prepare the most promising proposals that are planned to be implemented at the expense of the fund.

The first step is to create export-oriented enterprises that will manufacture products with high added value.

In this regard, an agreement was reached with the Chinese side on holding a series of meetings and negotiations in Uzbekistan to determine the list of projects for feasibility studies and subsequent approval.


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