Russia accounts for 40% of FDI in Uzbekistan

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Finance 26/11/2008 Russia accounts for 40% of FDI in Uzbekistan - envoy

Farit Muhametshin (left) and Islam Karimov

Tashkent, Uzbekistan (UzDaily.com) -- Russia accounts for 40% of direct foreign investments in the economy of Uzbekistan, outgoing Russian Ambassador to Uzbekistan Farit Mukhametshin said in his article in the Uzbek newspaper Narodnoye Slovo on 25 November.

Mukhametshin said in his article: "Trade between Russia and Uzbekistan will exceed US$4 billion by the end of 2008. And in the past five year, it has increased tenfold.”

He said: “Within a short period of time, over 700 joint ventures with the participation of Russian capital have been set up in Uzbekistan, as well as 145 Russian companies have opened their representative offices in the country."

Farit Mukhametshin also said that Russian companies were successfully working in Uzbekistan.

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