Three Chinese companies have made proposals to invest in apparel, float glass and green energy sectors by setting up factories in Bangladesh, officials said. The firms intending to establish factories here are Xinyi Glass Holdings Limited, Guopu Energy Technology Company Limited and Hangzhou IV Supply Chain Co Limited. Guopu Energy has proposed to invest a…

Recover, the Spanish recycled cotton producer, opened its new facility in Bangladesh to expand its manufacturing capabilities and accelerate its effort to transform the fashion industry. Actually Bangladesh produces about 4 lakh tonnes of garment cutting waste annually, which is locally known as “jhut”, of which, only 5% can be recycled at four mills. Notably,…

UzAssets Investment Company under the State Assets Management Agency has reached an agreement with “Sanoat Energetika Guruhi” PE LLC to sell a 100% stake in UzAssets in the charter capital of Fergana Oil Refinery LLC for $100 million. KPMG Valuation and Consulting LLC was recruited as a privatization consultant to organize the sales process. An international appraisal…

The 12th International Exhibition-Fair of Leather, Footwear, Haberdashery, Localized Products, Fur and Wool UzCharmExpo 2022 has started its work at Uzexpocentre NEC.  The organizer of the prestigious forum is the Uzcharmsanoat Association in cooperation with Ministry of Investments and Foreign Trade of the Republic of Uzbekistan. UzCharmExpo 2022 is the point where professionalism and experience…

Russia’s invasion of Ukraine will slow economic growth in Uzbekistan to 3.6% in 2022, compared to pre-crisis estimates of about 6%. According to the World Bank, an expected 50% drop in remittances (due to a weaker ruble and the collapse of the Russian economy) and higher prices for oil, wheat and vegetable oil will sharply…