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    Uzbekistan

    Deutsche Bank's $1 bn investment in Uzbekistan's Namangan region

    Deutsche Bank's $1 bn investment in Uzbekistan's Namangan region

    Deutsche Bank is considering a substantial investment of $ 1bn in projects within Uzbekistan’s Namangan region, according to a statement from the regional administration. The meeting was held on November 14 with the mayor of Namangan, Shavkatjon Abdurazakov, along with the executive director of Euler Hermes, an insurance company, Thomas Baum.

    The focus of their meeting was on promoting local businesses in Namangan to penetrate the  European Market while also fostering the growth of the local export insurance sector, with the aid of substantial amounts of loans from the Deutsche Bank.

    Deutsche Bank's $1 bn investment in Namangan and economic growth
    Source: google images

    “The Namangan region can be compared to a shining star. We are ready to work with you," - said Thomas Baum.

    Furthermore, in the meeting, the two parties further discussed agendas for opening credit lines to boost investment projects in Namangan. Regional banks from Namangan received invitations from  Jörg Bongarz, Executive Director at Deutsche Bank, to attend the Deutsche Bank board summit scheduled for December in Dubai. Simultaneously, the groundwork for the Germany-Namangan business forum commenced through collaborative efforts by a joint commission, starting in spring 2024.

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    16.11.2023, 14:16   Comments (0)   2650
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