US companies intend to invest about $ 10 billion in Uzbekistan; “Dori-Darmon” is transferred to the management of the American company; Uzbekistan and the United States sign agreements for US$2.5 billion; Uzpromstroybank expands cooperation with leading financial institutions of Russia
US companies intend to invest about $ 10 billion in Uzbekistan
The portfolio of promising projects exceeds $ 5 billion and covers engineering, oil and gas and gas chemical industries, electric power, textile and food industries, agriculture, health care and education. “Since the beginning of this year, 25 new enterprises have been created in Uzbekistan with the participation of American investments and the volume of mutual trade has doubled,” the presidential press service said.
In strengthening mutually beneficial business cooperation, the important role of the American-Uzbek Chamber of Commerce was noted, which includes 37 world-renowned companies, investment corporations and US banks.
Companies that are members of the American-Uzbekistan Chamber of Commerce are committed to developing ties with their Uzbek partners in accordance with the signed memorandums of understanding. As part of these agreements, US companies intend to invest about $ 10 billion in Uzbekistan.
“Dori-Darmon” is transferred to the management of the American company
The American company United Investment Healthcare Group LLC receives Dori-Darmon in trust management. The corresponding agreement was signed in Tashkent within the framework of the Uzbek-American business forum. The Uzbekistan Company was represented by Ravshan Azimov, who in early April was appointed the chairman of the board of Dori-Darmon.
A memorandum of understanding has already been signed with United Investment Healthcare Group LLC (USA). In order to improve the management efficiency of Dori-Darmon and introduce modern methods of corporate governance, it is proposed, as an exception, to conclude an agreement with the representative office of United Investment Healthcare Group LLC, for trust management of the state share in the company’s authorized capital for a period of five years.
If the American company copes with the parameters of the predetermined business plan, the contract will be extended for another five years.
Uzbekistan and the United States sign agreements for US$2.5 billion.
Air Products and Uzbekneftegaz signed an agreement on implementation of promising gas processing projects, including the production of industrial gases for US$2 billion. Silver Leaf and BMP Trade intend to create a textile cluster in Jizzakh region on an area of 31,000 hectares. The volume of investments in this project will be US$350 million.
Coca-Cola and Uzbekoziqovqatholding signed an agreement on the sale of part of the state share of Coca-Cola Uzbekistan to an investor. Uzagrosanoat Holding and John Deer will create a joint venture for production of agricultural machinery based on the Tashkent plant of agricultural machinery after the delivery of 500 units of tractors. John Deer will also supply agricultural equipment and tractors.
Imperial Jewerly and the Jewelry Industry Association of Uzbekistan will establish a joint venture for the production of jewelry based on the Zargarlik factory in Tashkent. The Navoi Mining and Metallurgical Combine signed a protocol of intent with Caterpillar on the supply of 10 mining dump trucks. The number of other large scale agreements were concluded during Uzbek-American business forum.
Uzpromstroybank expands cooperation with leading financial institutions of Russia
Uzpromstroybank, Russian Export Center JSC (REC), Tashkent Metallurgical Plant LLC and AsakaBank signed an agreement on strategic cooperation within the framework of the forum of interregional cooperation between the Republic of Uzbekistan and the Russian Federation in the framework of financing the project “Construction of the Tashkent Metallurgical Plant”, which is of strategic importance for the economy of the Republic of Uzbekistan.
The purpose of this Agreement is to promote the development of long-term and mutually beneficial cooperation of the Parties and the priority areas of interaction for the effective implementation of the Project.
The agreement envisages assistance from the REC to provide insurance coverage for EXIAR JSC to Russian commercial banks financing the Project in the total amount of 141.56 million euros, as well as to consider the issue of subsidizing the interest rate on export credits.