Uzbekistan and Kyrgyzstan to create $50mn joint investment fund
As part of the Uzbek-Kyrgyz business forum, which was underway in Tashkent on March 11, Umurzakov noted that the fund being created "will become a catalyst for the development of cooperation."
Uzbekistan and Kyrgyzstan have agreed to create a $50mn joint investment fund. This was announced by Uzbek Deputy Prime Minister, Minister of Investment and Foreign Trade Sardor Umurzakov and Deputy Prime Minister, Minister of Finance and Economy of Kyrgyzstan Ulukbek Karmyshakov. The authorised capital of the fund in the near future is to be expanded to $200mn.
As part of the Uzbek-Kyrgyz business forum, which was underway in Tashkent on March 11, Umurzakov noted that the fund being created "will become a catalyst for the development of cooperation."
He said the investment fund would support a number of new joint projects, primarily in the field of industrial cooperation.
"This is the point of growth that we should use today," the Deputy Prime Minister said.
Umurzakov also added that despite the world trade has suffered a decline amid the pandemic, the trade turnover between the two countries, on the contrary, has increased.
“We need to increase our trade turnover to one $1bn, and then to $2bn. I think this is a possible task, " Umurzakov noted.
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