German businesses will be eligible for investment guarantees when investing in Central Asia, Deutsche Welle has reported.
Germany has included Uzbekistan and Kazakhstan in its list of 34 states with which the government will encourage economic cooperation through preferential investment guarantees.
"Those destination countries that have good prerequisites for German enterprises, but have so far enjoyed their attention to a lesser extent, will be encouraged," the German economy ministry said.
This is seen as a move to reduce dependence on China by making it attractive for German companies to work in alternative markets.
The economy ministry has also changed the rules for providing guarantees to German enterprises that issue loans for projects for the development of foreign mineral deposits. Until now, benefits were provided only directly for the extraction of raw materials, while now they also apply to mineral processing.
Deutsche Welle noted that the expanded loan guarantee mechanism would be of interest to Uzbekistan and Kazakhstan, which are rich in natural resources.
Kazakhstan has initiated the construction of a new 152-kilometre Darbaza-Maktaaral railway line on the border with Uzbekistan, the press service of the Kazakh prime minister has announced. Since ... more
A severe correction in the raw cotton wholesale price since the middle of 2022, following a spike seen as the global economy eased out of coronavirus lockdowns, has hit cotton growers across Central ... more
Halyk Bank of Kazakhstan has ... more