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Friday, September 18th, 2020

Uzbekistan intends to invest $10 mln in Kyrgyzstan

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Ambassador of Kyrgyzstan to Uzbekistan Ibrahim Junusov met with General Director of Artel Dilmurad Gaiypov, the press service of the Kyrgyz Embassy in Tashkent said.

The sides discussed the progress of the implementation of investment projects in Kyrgyzstan for the total amount of $10 million.

The exchange of views took place on the projects on production of windows and doors under the IMZO brand worth $ 1 million, and the same amount for the assembly of washing machines under the Artel brand, implemented in Kyrgyzstan’s Osh Oblast in 2018.

Junusov and Gaiypov also discussed in detail two projects planned for implementation in the south of Kyrgyzstan. In particular, the creation of MEDIAPARK shopping and entertainment center for the amount of $5 million, and a branch of Artel Technical School non-governmental institution worth $ 3 million.

The sides also raised issues for further cooperation.

Artel is Uzbek group of companies, is part of the largest private holding in Uzbekistan, ACFA GROUP, producer of household appliances and electronics. The company was founded in 2011 after the decision to launch its own branded industrial sectors for the production of household appliances.

Artel includes a couple of dozens of joint ventures.

Source: Kyrgyz National News Agency

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