Latvia ready to increase investments in Uzbekistan through new project

TASHKENT, Uzbekistan, July 22. Latvia has
expressed its readiness to spice up investments in Uzbekistan by way of
the implementation of an extra venture, the development of a
phosphorite processing plant, Pattern reviews.

The announcement was made throughout a gathering between Kadambay
Sultanov, the Ambassador of Uzbekistan to Latvia, and Janis
Vilgerts, Chairman of the Supervisory Board at BAO firm.

As was famous, preliminary estimates point out that the
building of the plant is valued at $12 million, all of which
will come from direct overseas investments. Vilgerts positively
evaluated the numerous transformations going down in
Uzbekistan, together with the favorable situations being created for
overseas traders within the nation.

On account of the assembly, an settlement has been reached for
Vilgerts’s go to to Uzbekistan from July 19 by way of July 21. Throughout
the go to, he’ll meet with representatives of related ministries
and companies within the nation.

BAO, established in 1995, is without doubt one of the main firms in
Latvia offering companies associated to the gathering, dependable
transportation, and disposal of hazardous waste, with a concentrate on
minimizing environmental harm. At present, the corporate is
implementing an funding venture for the event of
phosphorite deposits in Uzbekistan with a complete worth of $30
million.

In the meantime, Georgijs Vojevoda, Head of the newly created
consultant workplace of the Latvian Funding and Improvement
Company (LIAA) in Uzbekistan, earlier emphasised the rising
curiosity of Latvian companies in establishing promising
cooperation with Uzbekistan. “That is evident from the choice to
open an LIAA consultant workplace in Tashkent,” he stated.

In accordance with Eurostat knowledge, Latvia ranked eighth amongst Uzbekistan’s
most important commerce companions in 2022, with a turnover of 11.4 million
euros.