Doubletree Capital Bank plans to support the launch of investment projects in Uzbekistan’s leather and footwear industries. A delegation of the foreign financial organisation held a working meeting with the top managers of the Uzcharmsanoat Association to discuss cooperation between South Korean investors and Uzbekistan, the press office of the Association reported to CentralAsia.news.
The organisers of the meeting informed the foreign guests about the economic reforms and the investment potential of Uzbekistan’s leather and footwear industry. The active development of Uzbekistan’s leather and footwear industries aroused great interest among the foreign entrepreneurs.
Following the meeting, the parties agreed that Doubletree Capital Bank would provide preferential loans to the South Korean investors willing to set up new joint leather processing and footwear ventures jointly with Uzbekistan. The investors would use these funds to deliver technologies, equipment, components and raw materials from Asia and Europe to the Republic. $30 million are to be spent on implementing the project. The products are to be exported to South Korea and the European Union.
Doubletree Capital Bank has been operating in the United States for 20 years and has invested more than $30 billion in overseas projects. The Bank finances major projects, each of which costs from $20 to $100 million. According to the Manager of the Bank’s Division for Central Asia, it has been conducting research on the countries of the region over the past 6 years and decided to launch investment projects in Uzbekistan.
