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Agreements worth $313M signed in Uzbekistan's Karakalpakstan

Business Materials 19 November 2019 13:53
Agreements worth $313M signed in Uzbekistan's Karakalpakstan

BAKU, Azerbaijan, Nov. 19

By Fakhri Vakilov - Trend:

The “International Investment Forum Karakalpakstan” event was held in the city of Nukus of Uzbekistan’s Karakalpakstan, Trend reports citing Uzbekistan’s Foreign Ministry.

As a result of the forum, 18 trade and economic agreements worth $313 million were reached.

The two-day forum was attended by representatives of international organizations from about ten countries, including South Korea, Russia, China, Saudi Arabia, Pakistan, Afghanistan and Azerbaijan.

“We will implement livestock development projects worth $15 million in Uzbekistan’s Buzatovsky and Nukus districts. During the visit, I am convinced that there are all possibilities for this,” said Wei Wang, professor of the Agricultural University of China.

The main goal of “International Investment Forum Karakalpakstan” is to create production enterprises and new jobs in the territory by attracting foreign investors in the Aral Sea region, as well as to familiarize participants with the investment, export and tourism potential of the territory provided by investors with customs and tax benefits.

Karakalpakstan has great investment potential; its territory is rich in untapped resources.

As part of the regional investment program planned for this year over the past period, foreign direct investment in the amount of $140.3 million has been attracted. Most of the investments are from China, South Korea, Great Britain, Germany and Russia.

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