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Investment project with Malaysian company to be implemented in Bukhara

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Investment project with Malaysian company to be implemented in Bukhara

A videoconference of the Ambassador of Uzbekistan to Malaysia, Ravshan Usmanov, with the leadership of Phills Asia Pacific took place. Deputy khokim of Bukhara region Rizo Asadov also took part in the videoconference.

According to Uzbekistan MFA, the parties discussed the possibility of implementing a project to create an Aviation Academy Pilot Training Center in Bukhara region and a logistics hub to ensure the transportation of goods from Uzbekistan to foreign countries with an estimated cost of about 110 million USD of direct Malaysian investments. Licensing procedures, selection of the exact location, deadlines for the fulfillment of obligations of the parties and other legal aspects of relevant preparatory work for the creation of a training center and a logistics hub were considered.

The Malaysian side was informed about the measures taken by the Government of the Republic of Uzbekistan on counteracting the spread of coronavirus, supporting entrepreneurial activity and ongoing activities for ensuring uninterrupted implementation of joint investment projects with foreign companies.

Phills Asia Pacific’s leadership announced the readiness of the company to begin implementing this investment project despite the current coronavirus pandemic. It was also noted that today the Malaysian side continues to work on development of 3D design of buildings of the above objects.

UzA