TASHKENT, Uzbekistan, October 31. Uzbekistan and Russia signed a Memorandum of Understanding on the implementation of the joint industrial park, Trend reports.
The document was signed on the sidelines of the InRussia International Business Conference and exhibition, held in Russia’s Stavropol.
An industrial park with a total area of 46,000 square meters on the territory of the Master Industrial Park in the free economic zone in Uzbekistan’s Navoi region.
The new factory, according to Farid Zakirov, Director General of Russian Master Industrial Park, would produce building materials, home chemicals, and aluminum cans.
From January to September 2023, Russia's contribution of investments and loans for the growth of Uzbekistan's economy amounted to around $2.9 billion.
According to data published by Uzbekistan's State Statistics Committee, the recorded number accounts for 15.9 percent of total foreign investments, placing Russia in second place among those investing in Uzbekistan.
As per the statistics agency, investments and loans from the Russian Federation constituted 20.3 percent of the total foreign investments in the country in 2022, which translates to roughly $2 billion, standing as the biggest figure among all investing nations.