The delegation of Khorezm region agreed on 13 projects with Malaysia; Malaysian company to build a plant for production of lubricants in Uzbekistan; Uzbekistan and Saudi Arabia intend to launch a joint production of textiles; The Government of Uzbekistan to prepare an investment policy strategy for medium term; Activity of the joint venture to expand;
An agreement was signed with Serba Dinamik Group Berhad on the construction of a plant for the production of caustic soda and liquid chlorine in the territory of the Hazorasp free economic zone.
Hadid Engineering is planning an investment project in the construction industry, as well as considering the possibility of acquiring shares in companies in the oil and gas, petrochemical and chemical industries to modernize production facilities.
The delegation agreed to establish a fish breeding and fish feed production cluster in Khorezm region using local raw materials with A Farm Agrotech.
Furthermore, a number of other investment agreements in social and economic spheres were signed.
Within the framework of the visit of representatives of Khorezm region led by khokim of the region Farhod Ermanov, negotiations were held with the leadership of the Malaysian major petrochemical company Hyrax Oil S. Matthew.
Founded in 1991, Hyrax Oil is one of the largest Malaysian manufacturers of lubricants (engine oil, transformer oil, etc.). The company is equipped with the most modern technologies, products of which exported to 35 countries of the world. The company’s production facilities are located in Malaysia, Sri Lanka, South Africa and in several countries of Southeast Asia.
During the talks, the organization of export-oriented production of lubricants in Khorezm region was discussed and an agreement was reached on organization of the visit of the management of Hyrax Oil to Uzbekistan in February 2019 for a detailed discussion of this investment project.
On 24 January 2019, the Uztekstilprom Association hosted a meeting with the delegation of the Ajlan & Bros corporation, headed by the Director General Mr. Nicholas Gilani, the press service of the Association said.
During the talks, the parties discussed establishment and further strengthening of bilateral cooperation, including the participation of the Corporation of Saudi Arabia in the implementation in Uzbekistan of joint investment projects in the textile industry.
Representatives of a foreign company praised the achievements in the textile industry of the republic, as well as the country’s large-scale economic reforms.
Following the meeting, the foreign side announced its intention to implement an investment project in Uzbekistan, to establish the production of finished textiles.
The head of Uzbekistan signed a decree “On priority measures to increase the responsibility of the Cabinet of Ministers of the Republic of Uzbekistan for the effectiveness of the implementation of the strategic objectives of the socio-economic development of the country.”
The document notes that the deputy prime ministers prepare proposals for improving the mechanisms and guarantees for attracting foreign investment, primarily direct investment.
It was also instructed to develop an “investment portfolio” to provide foreign and domestic investors, as well as create “investment hubs” and more favorable conditions for the functioning of free economic and small industrial zones in the republic.
President Shavkat Mirziyoyev became familiar with activities of Mega Invest Industrial joint venture, operating in Farish district.
The company, operating since December 2017, processes basalt stone and produces basalt fiber and rebar. Currently, the first and second phases of the project have been put into operation, for which the British company Leigh Borrier has invested 11 million USD and a loan from the National Bank for Foreign Economic Activity of Uzbekistan for 26 million USD. Technologies of Germany, France, Italy, Russia, Turkey and other countries are introduced.
In 2018, the enterprise produced a thousand tons of basalt rebar and mesh. In the near future, it is planned to launch the third stage. An enterprise with full capacity utilization will be able to produce 4 thousand tons of basalt fiber and 4.8 thousand tons of rebar per year.
The advantage of basalt rebar is that it is 8 times lighter, 3 times stronger and 30 percent cheaper than metal rebar. Moreover, it does not rust, does not conduct electric current, does not lose its properties for up to 100 years.