An agreement on establishment of a joint Uzbek-Chinese Investment Fund
On August 27, during the visit of the government delegation of the Republic of Uzbekistan headed by the Prime Minister A. Aripov to China, the Ministry of Investment and Foreign Trade and the Chinese CITIC Corporation signed an agreement on establishment of a joint Uzbek-Chinese Investment Fund with a statutory fund of USD 1 billion.
This indicates a high growth rate of investment cooperation between the two countries: sustainable financing mechanism will enable focusing efforts on accelerated implementation of priority high-tech projects.
According to prior agreement with Chinese partners, chemical and petrochemical enterprises, as well as production facilities in the oil and gas sector will be focused.
In the near future, the Uzbek side represented by the Ministry of Investment and Foreign Trade will prepare a pool of promising project proposals for implementation at the expense of the Fund, including a significant share of export-oriented multi-stage production cycles enterprises with products with high added value located in the regions of the Republic involving appropriate raw materials and human resources.
In this regard, they agreed with the Chinese side to hold meetings and negotiations in Uzbekistan to determine the address list of projects for feasibility studies and subsequent approval.