BAKU, Azerbaijan, Mar. 11
By Klavdiya Romakayeva - Trend:
Uzbekistan and Kyrgyzstan will create a joint investment fund with an authorized capital of $50 million, Trend reports with reference to the Ministry of Investments and Foreign Trade of Uzbekistan.
According to the information, the capital of the fund is planned to be increased to $200 million in the future.
The mentioned statement was made by the Deputy Prime Minister, Minister of Investments and Foreign Trade Sardor Umurzakov and Deputy Prime Minister, Minister of Finance and Economy of Kyrgyzstan Ulukbek Karmyshakov at the Uzbek-Kyrgyz business forum, which was held on March 11 as part of the visit of Kyrgyz President Sadyr Japarov to Uzbekistan.
Sardor Umurzakov noted that the fund will become a catalyst for the development of cooperation between countries. He added that the investment fund will support a number of new joint projects, primarily in the field of industrial cooperation.
It is reported that the parties discussed the existing potential for the development of cooperation in promising industries, including agriculture, the production of mineral and organic fertilizers, the production of building materials, the textile leather and footwear industry, the silk industry, tourism and logistics.
Also, the participants of the business forum were informed in detail about the conditions created in both countries to attract and support foreign direct investment, measures taken to privatize state assets and transform enterprises with state participation, as well as about the functioning mechanisms for protecting the rights of investors, stimulating exports and improving the conditions for doing business.
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