Uzbekistan signs agreements for US$250m
Tashkent, Uzbekistan (UzDaily.com) -- The I International Investment Forum has ended in Andijan. According to its results, agreements for US$250 million were signed, Dunyo news agency reported.
The event, organized by the khokimiyat of Andijan region with the support of the Ministry of Foreign Affairs of Uzbekistan and the Embassy of our country in India, was attended by over 500 participants from 30 countries. The most representative delegation came from India, led by Gujarat Chief Minister Vijay Rupani.
Members of the Indian delegation attended the inauguration of a branch of the Indian University of Shard in Andijan. It should be noted that this university ranks first among private universities in India in the number of foreign students studying. He trains specialists in the field of information and communication technologies, pharmaceuticals and medicine.
During a press briefing, the khokim of Andijan region, Shukhrat Abdurakhmanov, noted that the choice of this university for the region is very important.
- We want to see in Andijan the growth of such areas as information technology, pharmaceuticals and medicine. The project also proved to be an investment success. The opening of the Shard branch brought to Andijan region US$20 million of investments, he said.
As part of the forum, the opening ceremony was held in Andijan, Sardar Patel Street, as well as a monument to this Indian statesman and politician.
- The opening of this street is symbolic. Sardar Patel is known for having united many states of India. I hope that the opening of the monument and the street will strengthen the friendly ties between Uzbekistan and India, said B. Goenon, President of the Chamber of Commerce and Industry of India.
One of the main events of the forum’s business program was the signing with the Indian company Cadila Pharmaceuticals Limited on the phased implementation of integrated pharmaceutical production with foreign direct investment of US$50 million. Implementation of the project is envisaged for the period from 2019 to 2022 in the Andijan Farm pharmaceutical zone.
Speaking to the audience, Cadila Pharmaceuticals Limited Corporate Finance President Ramesh Choksi said the pharmaceutical project provides for the creation of 1,500 new jobs.
“We have already agreed on a six-year development program for the company, which speaks of our long-term vision of developing relations with Uzbek partners,” he noted.
Following the results of the international forum, agreements were signed on attracting investments in the amount of US$250 million, as well as export sales of products of Uzbek manufacturers for US$40 million, which will create more than 5 thousand new jobs.