Rising Hongfa Heavy Machinery plans to implement investment projects in Uzbekistan; American Healthcare Investment Group Signs Trust Agreement for Dori-Darmon; Kazakhstan Kolesa Group enters the market of Uzbekistan; India will help Uzbekistan to organize the production of smartphones; Russia, Uzbekistan, Kazakhstan, Afghanistan and Pakistan will create a financial consortium for the construction of a new railway; World Bank to allocate funds for building institutional potential of Uzbekistan; The next issue of Samarkand Bonds is placed on the London Stock Exchange.
Rising Hongfa Heavy Machinery plans to implement investment projects in Uzbekistan
Indian company Rising Hongfa Heavy Machinery is implementing a project to organize production of modern concrete materials in Uzbekistan.
The project cost will be about US$3 million. During the first official visit of the President of Uzbekistan Shavkat Mirziyoyev to India, Uzstroymaterialy and Rising Hongfa Heavy Machinery signed an agreement on organizing the production of modern concrete materials.
The investment project includes the construction of a modern plant for the production of new types of refractory, waterproof, insulating concrete wall slabs for the needs of the construction industry in 2020. The preliminary location of the modern production is the city of Bekabad.
American Healthcare Investment Group Signs Trust Agreement for Dori-Darmon
The ceremony of signing an agreement between the State Assets Management Center under the State Committee on Competition and the US company United Investment Healthcare Group on the transfer to trust management of Dori-Darmon JSC for a period of 5 years took place in Tashkent.
The signed document lays the legal basis for the new development strategy of the national pharmaceutical company Dori-Darmon. The practice will introduce modern management methods, exclusive information technologies, as well as an effective system for training specialists with the involvement of American professionals in the pharmaceutical industry.
PRS Inc. is the partner of the United Investment Healthcare Group in Uzbekistan. (USA), which is an internationally recognized pharmaceutical consultant.
Kazakhstan Kolesa Group enters the market of Uzbekistan
The company launches a platform for placing ads on the sale of cars, special equipment and spare parts in Russian and Uzbek languages, which allows to link the seller and the buyer online.
Kolesa is on the 13th place in the Forbes Kazakhstan ranking of the 25 largest online trading platforms 2018. Revenue for 2017 accounted for $13 million. Average monthly attendance of their sites was 20.904.318.
India will help Uzbekistan to organize the production of smartphones
A meeting with representatives of LAVA International was held at the State Investment Committee of Uzbekistan. The Indian company intends to implement joint investment projects in the electrical industry in Uzbekistan.
At the first stages of the investment project, Indians plan to organize training courses (from 6 to 9 months) for Uzbek specialists in assembling and manufacturing mobile phones.
In addition, the committee proposed to sign an announcement with the Ministry of Higher and Secondary Special Education to train engineering students from Uzbekistan at the plants of LAVA International in India.
Russia, Uzbekistan, Kazakhstan, Afghanistan and Pakistan will create a financial consortium for the construction of a new railway
A meeting of the heads of the railway administrations of Uzbekistan, Russia, Kazakhstan, Afghanistan and Pakistan took place on December 3-4 in Tashkent.
The agenda included an urgent question about the implementation of the project to build the Mazar-i-Sharif-Kabul-Peshawar railway line.
The importance of the new railway line is caused by the need to address the issue of finding alternative land routes by which cargo can be delivered to Europe and in the opposite direction. Another favorable factor for the project is the construction of high-voltage power lines Surkhan – Puli-Khumri – Doshi – Surabai – Jelalalabad – Peshawar (Pakistan) along the proposed railway.
World Bank to allocate funds for building institutional potential of Uzbekistan
This information was announced during a meeting at the Ministry of Economy of Uzbekistan with representatives of the World Bank mission.
The project “Building the institutional potential of Uzbekistan” will be implemented in the following components: improving the efficiency of public finance management ($ 11 million); creating conditions for market-oriented corporate sector operations ($ 8.5 million); providing technical assistance to the economic council.
In addition, the WB mission noted that negotiations are underway with the EBRD on co-financing and implementing measures for institutional support for conducting reforms.
The next issue of Samarkand Bonds is placed on the London Stock Exchange
On December 5, the next issue of bonds of the International Finance Corporation (IFC), nominated in Uzbek sums (Samarkand Bonds), was placed on the London Stock Exchange.
According to the Central Bank of Uzbekistan, the total volume of the issue amounted to 123 billion sums, the repayment period is one year and the coupon rate is 9.45% per annum. The funds will be provided to Ipak Yuli Bank as a loan to support small businesses and private entrepreneurship.
It should be reminded that the previous three Samarkand Bonds issues placed on the London Stock Exchange this year totaling 240 billion sums (two-year maturity, coupon rate 9.45% -9.5%) were sent to Hamkorbank to finance small business projects.