Cargolux airline plans to use Navoi hub from 2020; $2.8 billion to be directed to develop Namangan region; BAT Uzbekistan invests US$11 million in Samfruit; State Investment Bank of France is ready to finance projects in the textile industry of Uzbekistan;
A delegation of the Grand Duchy of Luxembourg headed by Minister of Foreign and European Affairs Jean Asselborn will visit Uzbekistan on March 6.
“The program of the visit includes negotiation at the Ministry of Foreign Affairs of Uzbekistan, during which it is planned to discuss the prospects for imparting dynamism to bilateral relations on all issues of mutual interest,” the press service of the Foreign Ministry said.
During the visit, it is planned to sign a Memorandum of Understanding on air traffic, in connection with the plans of the Luxembourg airline Cargolux from 2020 to use the Navoi transport hub for transit traffic to Asian countries.
In accordance with the program, in 2019-2020, it is planned to carry out more than 1.4 thousand investment projects worth $2.8 billion in the region. President Shavkat Mirziyoyev stressed that these projects will create 39 thousand permanent jobs and attract $1.1 billion foreign direct investment.
Also, 1 trillion UZS will be allotted for the implementation of the program “Every family – entrepreneur” from the Fund for Reconstruction and Development of Uzbekistan and other sources. With these funds, a new family business support system will be introduced.
It was noted that for the improvement of the regional centers in Namangan, 20-25 billion soums will be allocated to each district, as well as an additional 2 billion soums to the villages and makhallas included in the programs “Obod kishlok” (Prosperous village) and “Obod makhalla” (Prosperous neighborhood).
British company BAT Uzbekistan (Investments) Ltd. (BATU (I)) and the Swiss company New Product International signed an agreement to establish a foreign enterprise processing and exporting dried vegetables, fruits and herbs.
BAT Uzbekistan will become part of the co-founders of Samfruit and intends to invest US$11 million in the first stage in the expansion of production capacities, including the purchase of modern high-tech equipment for freeze-drying and air-drying, packaging and packaging, for the production of export-oriented products.
Investments will help expand the production capacity of the enterprise from 700 to 4,000 tons of dried fruits, vegetables and herbs per year.
The Association Uztekstilprom hosted a meeting with the delegation of the French State Investment Bank Bpifrance headed by Regional Director Mr. Emmanuel Breschard with the participation of the Extraordinary and Plenipotentiary Ambassador of France to Uzbekistan Violaine De Villemeur.
Bpifrance expressed interest in investing joint projects in Uzbekistan. Emmanuel Breschard proposed to finance projects in the textile sector. In particular, the sides talked about the supply of French technologies and equipment to the Uzbek market.
Following the meeting, preliminary agreements were reached on attracting major companies and financial institutions in France to implement joint investment projects in the textile industry.