ICIEC signes MoU with Uzbekistan Investment Promotion Agency

ICIEC signes MoU with Uzbekistan Investment Promotion Agency

BAKU, Azerbaijan, June 25

Trend:

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has signed a Memorandum of Understanding (MoU) with the Uzbekistan Investment Promotion Agency (UzIPA), Trend reports citing press service of ICIEC.

The MoU provides a general framework to facilitate cooperation between ICIEC and UzIPA to promote foreign investments that contribute to economic and social development in the Republic of Uzbekistan. The MoU outlines that ICIEC and UzIPA will promote their services to foreign investors, highlighting ICIEC’s risk mitigation and credit enhancement capacity, as well as UzIPA’s added value with the aim to encourage an increased flow of investments into the Republic of Uzbekistan.

The MoU also enhances information exchange efforts between the participating institutions, especially regarding any investment climate reforms and foreign investment plans in the country. Included in the MoU are opportunities for joint visits and workshops on areas of cooperation, technical assistance, training, capacity building and contribution of knowledge resources.

The partnership between ICIEC and UzIPA follows the signing of a Partnership Strategy for 2018-2021 between the Government of Uzbekistan and ICIEC’s parent organization, the Islamic Development Bank (IsDB).

ICIEC is seeking to enhance its presence in Central Asia. As one of ICIEC’s 47 Member Countries, Uzbekistan is relatively a country with great potential for trade and investment, sitting in a strategic position between China and Europe and containing abundant natural resources. Late in 2020, ICIEC signed a MoU with the Uzbekistan National Export-Import Insurance Company (UzIPA) to extend the capacity of their insurance coverage, creating opportunity for larger trade transactions and development projects in Uzbekistan.

“This agreement seeks to deepen further the vibrant and growing relationship between ICIEC and the Republic of Uzbekistan” says ICIEC CEO, Oussama Kaissi, “FDI is an essential part of economic growth and acts as a catalyst for sustainable development in our Member Countries. We’re very excited to work with UzIPA and promote Uzbekistan as a premier destination for foreign investors.”

The signing ceremony of a MoU with the UzIPA will take place during the IsDB Group annual meetings to be held in Tashkent, Uzbekistan, in September 2021.

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Bank (IsDB) Group. ICIEC was established in 1994 to strengthen the economic relations between member countries of the OIC. ICIEC’s vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. Its mission is to facilitate trade and investment between member countries and the world through the provision of Shariah compliant risk mitigation tools and financial solutions.

ECO Park to strengthen relations between member states
ECO Park to strengthen relations between member states
Turkey sees growth in number of registered companies with Iranian capital
Turkey sees growth in number of registered companies with Iranian capital
Iran boosts exports to Iraq
Iran boosts exports to Iraq
Loading Bars
Latest
Uzbekistan’s BMB Trade Group sends first batch of saffron to Italy
Snam boosts technical investments by over 20%
Final coating layer being applied on runway of Fuzuli int'l airport under construction in Azerbaijan
Traditional General Meeting of AZAL’s Flight Crew was Held (PHOTO)
Kazakhstan reconsiders interest rates on term deposits
Robinhood closes at $34.82 in grim stock market debut
Snam reveals net income from TAP
Azerbaijani president expresses condolences to Turkish counterpart
Turkey mobilizes all resources to eliminate wildfires - president
Prices for Azerbaijani oil grow higher
Turkmenistan's Turkmennebit opens tender for purchase of equipment
Uzbekistan receives Moderna vaccine from US
Value of placed deposits increases in Kazakhstan over 1H2021
Israel to start investing in Azerbaijani start-up projects - minister
Azerbaijan exports over 425 mcm of gas to Turkey
958 new coronavirus cases registered in Kyrgyzstan
Arson-loving PKK prime suspect as forest fires hit Turkey
Turkmenistan's 1H2021 import of Turkish ready-made clothes up in value
Turkish energy ministry renews TPAO license for oil, gas exploration
SOCAR’s STAR Refinery reduces oil imports y-o-y
Turkey reveals number of ships received at local Botas port in 1H2021
Turkey increases import of crude oil from Kazakhstan in May
Brazilian minister says Sputnik V can still be used in country
Surgical Science Sweden buys Simbionix for $305m
Saipem expects up to 5B euros worth revenues as of 2021
Saipem sees slight decrease in revenues, EBITDA records loss
ECO Park to strengthen relations between member states
Saipem’s capex falls due to maintenance
Azerbaijan's Pasha Insurance switches to new model, helping to optimize insurance process
ADB praises Azerbaijani government's efforts to fight COVID-19 (PHOTO)
Kazakh national atomic company's subsidiary opens tender to buy valves
Uzbekistan publicizes COVID-19 data for July 30
Oil prices drop, but on track for steep weekly gain
Oil & gas industry to face more frequent cyber attacks
Saudi Arabia to welcome tourists starting from August 1
A young Azerbaijani selected as bp’s ‘Net Zero’ scholar
British military group: Ship reportedly attacked off Oman
Kazakhstan boosts petroleum gas exports to Romania over 1Q2021
Kazakhstan’s total COVID-19 caseload up by 7,778
S. African swimmer Schoenmaker breaks WR to win women's 200m breaststroke at Tokyo Olympics
Volume of non-performing loans down in Georgian commercial banks
Japan to expand state of emergency as COVID-19 shadows Olympics
U.S. Congress passes $2.1 billion for Capitol Police and Afghans
Turkey reports 22,161 daily COVID-19 cases
5.5-magnitude quake hits 146 km SE of Chignik, Alaska
Information on allegedly shot down two UAVs of Azerbaijani army - false - MoD
Syrian rebels attack army outposts in southern Syria
Azerbaijani FM extends condolences to families of those killed in wildfires in Turkey
Reports of repeated incidents along Armenia-Azerbaijan border causes grave concern - OSCE Chairperson
Turkey sees growth in number of registered companies with Iranian capital
Portugal to ease COVID-19 restrictions in phases
Israel to offer 3rd coronavirus booster to elders: PM
Iran exports to Iraq up 54% in 3 months
Georgia ranks 10th in terms of COVID-19 cases per residents
Uzbekistan's Central Bank remains main rate unchanged
Turkmenistan introduces ban on sale of electronic cigarettes
COVID-19 cases climb amid calls for vaccinations in Turkey
Baku holds Week of Diplomacy closing ceremony organized by Foreign Ministry, ADA University (PHOTO)
Oklahoma governor views work within "smart village" project in Azerbaijan’s Zangilan (PHOTO)
OSCE MG co-chairs concerned with recent incidents along Armenia-Azerbaijan state border
Egyptian journalists write articles after visit to liberated lands of Azerbaijan (PHOTO)
Central Bank of Azerbaijan to keep interest rate at same level - analyst
Over 190 people used services of social rehabilitation organizations in Azerbaijan since early 2021
Iran boosts exports to Iraq
Oklahoma governor, his family members walk throughout Azerbaijan’s Baku city (PHOTO)
Azerbaijani ministry to consider problems related to internet
Liabilities of Azerbaijan's Kapital Bank increases over 2Q2021
Kazakhstan implementing projects in free economic zone
Russia agrees to work on creating oil and gas cluster in Uzbekistan
Israel interested in establishing long-term co-op with Uzbek textile manufacturers
Baku Metro building powerful ventilation infrastructure
SOCAR to be engaged in building Switzerland’s largest green hydrogen plant
Azerbaijan's AzerGold discloses timing of iron ore production at Dashkasan deposit
Turkmenistan, Qatar interested in building up trade, economic ties
Data on 1H2021 cargo, passenger traffic at Istanbul Sabiha Gokcen Airport disclosed
Kazakhstan, Russia's Tatarstan discuss potential projects related to Islamic halal products
France calls UK quarantine rules discriminatory, excessive
Ministry in Uzbekistan opens tender for garages construction
Azerbaijan's Kapital Bank notes increase in assets within 2Q2021
Kazakhstan increases petroleum oil exports to Romania despite COVID-19
Kazakhstan, Russia discuss 'green corridor' for or moving agricultural goods
Moscow court fines Google over $40,000 for refusing to localize users’ data in Russia
Azerbaijan's Kapital Bank completes 2Q2021 with profit
Georgia reveals amount of food products import from Turkmenistan
Israel to offer Pfizer booster shots to people over 60
Uzbekistan launches construction of copper processing plant
Kazakhstan ready to expand non-commodity exports to Russia's Tatarstan
EBRD names date of approval of loan for waste management project in Azerbaijan's Ganja
Azerbaijan, Turkmenistan agree to further co-op on Dostlug field
Azerbaijan shares data on number of vaccinated citizens for July 29
Azerbaijan confirms 615 more COVID-19 cases, 181 recoveries
Big Tech starts requiring vaccines; Twitter closes re-opened U.S. offices
Iraqi army helicopter crash kills five
Chandrayaan-3 likely to be launched during third quarter of 2022
Buta Airways to Increase the Number of Flights to Izmir
Riskified begins trading on NYSE today at $3.3b valuation
Oklahoma State National Guard delegation continues to visit Azerbaijan (PHOTO/VIDEO)
Kazakh oil refinery opens tender to buy UPS
European Investment Bank signs advisory agreement with Hydrogen Europe
Azerbaijan's AzerGold reveals potentially usable, economically efficient ores at Dashkasan deposit
All news