TASHKENT, Uzbekistan, December 24. Russian Karavan SK company will invest $4.5 million in establishing production of finished leather in the Akhangaran district of the Uzbek Tashkent region, Trend reports.
The news followed a recent meeting between Chairman of the Uzbek Uzcharmsanoat Leather and Footwear Association Fahriddin Boboev and representatives of the Karavan SK.
During the meeting, the participants focused on the practical aspects of the implementation of the new investment project.
The parties also discussed organizational aspects of the work, in particular, the procedure for companies to participate in electronic auctions for the purchase of land in the Akhangaran district.
The share of investments and loans from Russia for the development of Uzbekistan’s economy amounted to approximately $2.9 billion from January through September 2023
As per data provided by Uzbekistan’s State Statistics Committee, the recorded number comprises 15.9 percent of the total foreign investments, thus making Russia the top second country among those investing in Uzbekistan.
As per the statistics agency, investments and loans from Russia 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.