Doubletree Capital Bank implements the first investment projects in Uzbekistan

    Business 5 June 2023 2300

    The Uzcharmsanoat Association held a meeting with the head of the representative office in Central Asia of the American bank Doubletree Capital. During the dialogue, the issue of establishing bilateral cooperation and financing new joint projects in the leather and shoe industry was discussed.

    The guests were provided with information about the reforms in the leather and footwear industry, its production, investment and export potential.

    In turn, the head of the Central Asian representative Office of the bank said that over the past six years, studies of countries have been conducted in order to finance projects in the region, and the results have been analyzed. As a result, it was decided to launch the bank's first investment projects in Uzbekistan.

    At the meeting, representatives of the bank reported that changes in Uzbekistan, in particular, the dynamic growth in the leather and footwear industry, attract investors to the country. For this reason, South Korean investors plan to allocate $ 30 million to launch joint ventures and new projects in the field of leather processing, shoe production, leather goods and personnel training in cooperation with the Uzcharmsanoat Association in our republic.

    For initial projects, the bank will allocate preferential loans to South Korean investors wishing to open new joint ventures in the field of leather processing and shoe production in cooperation with Uzbekistan. With these funds, investors will have to import technologies, equipment, components, raw materials from Italy, Germany, South Korea and start their activities in our country. The first enterprises will specialize in the production of finished leather for the automotive and furniture industries. The finished products are planned to be fully exported to South Korea and European countries.

    Also, the second area of cooperation is focused on the training and retraining of personnel for the leather and footwear industry. On the basis of special grants from the bank, a training program for designers, designers and technologists for the Uzbek leather industry will be implemented.

    Following the meeting, an agreement was reached to sign a memorandum for the further development of bilateral cooperation.

    For reference: Doubletree Capital Bank has been operating in the USA for 20 years. He has invested more than $30 billion in foreign countries. Participates in the financing of large projects from $ 20 million to $ 100 million.