Kazakhstan, Uzbekistan to create int’l industrial cooperation center

TASHKENT. KAZINFORM – An International Industrial Cooperation Center «Central Asia» is set to be set up on the border of Kazakhstan and Uzbekistan, Serik Zhumangarin, Deputy Prime Minister – Trade and Integration Minister of Kazakhstan, told the Uzbek-Kazakh Cross-Region Business Forum, Kazinform correspondent reports.

«Accelerated implementation of the International Industrial Cooperation Center «Central Asia» on the Kazakh-Uzbek border is a significant step toward industrial cooperation and creation of joint products to export to third-country markets. The center is set to become not only an example of effective industrial cooperation but a key platform of the actively developing Central Asian economic corridor «North-South,» said Zhumangarin.

The speaker noted the special role of attraction of direct foreign investment in the economies of the two countries. According to him, from 2005 to Q2 of 2022 the gross inflow of DFI from Uzbekistan to Kazakhstan stood at $23mln, while investment worth $560mln was funneled in the Uzbek economy.

«The Central Asia should stand united in the issues of attracting international capital. Kazakhstan has already created the entire necessary infrastructure, including the Astana International Financial Center, investment preferences,» he said, adding that the country is ready to be the gateway for investors into the region.