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OMAN, UZBEKISTAN TO FORM FDI JOINT VENTURE.
TASHKENT, April 1 Asia Pulse - Uzbekistan and Oman are to launch a joint investment and bilateral business promotion company with a starting capital of US$500 million.
Oman's Minister of National Economy Ahmed bin Abdulnabi Macki said in Tashkent on Monday the company would be 75 per cent owned by Oman and 25 per cent owned by Uzbekistan.
The company would operate in the field of investment and establishment of joint projects between the two countries in various spheres.
"The trade between the Sultanate and Uzbekistan has witnessed rapid growth, particularly in the re-export trade field," he said. Oman's exports to Uzbekistan amounted to US$16 million in 2007-2008.
Macki said the government of the Sultanate had amended the percentage of foreign participation in the joint projects from 49 per cent to 70 per cent to encourage foreign investments.
As part of the cooperation between the two countries, the Oman government had put in efforts in the field of development of the bilateral cooperation in various economic, commercial and ...
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Source: HighBeam Research, OMAN, UZBEKISTAN TO FORM FDI JOINT VENTURE.