TASHKENT, Uzbekistan, September 27. Uzbekistan’s Tashkent Invest investment company and Malaysian Gemilang Coachwork Sdn Bhd, a bus manufacturing company, signed a memorandum of mutual understanding for cooperation in the field of bus production, Trend reports.
The news followed a recent meeting between the acting Khokim (Governor) of Uzbekistan’s Tashkent, Shavkat Umurzakov, and the CEO of Gemilang Coachwork Sdn Bhd, Pang Chong Yong.
“Large-scale reforms have been carried out not only in Tashkent but also throughout the republic, which led to a favorable, transparent investment climate in the country. One of the directions of development is the optimization of public transport traffic, and the production of buses is needed not only in Uzbekistan but also in neighboring countries, while the priority is the production of eco-friendly transport,” Shavkat Umurzakov said.
In this connection, Uzbekistan proposed to organize a research and development center on the basis of one of the economic zones of the capital.
Earlier this month, the European Bank for Reconstruction and Development (EBRD) lent Uzbekistan's Samarkand $49 million to deploy electric buses.
Furthermore, the Chinese Dongfeng Motor Car Manufacturing Company plans to open production of electric buses, investing $45 million in the project. The volume of investments will rise to $50 million in 2025 to localize the production of batteries and other components for electric vehicles, as well as organize a maintenance service.
Luoyang Grasen Power Technology, specializing in the research and development, manufacture, sales, and service of new energy electric vehicle charging equipment, plans to launch the production of electric vehicle chargers in Uzbekistan. The company's potential investment in this project is estimated at $30 million. In addition, Tunghsu Group is ready to invest $50 million in a solar panel project.