Russian Investments Forge Economic Links with Central Asia

Last Updated on April 29, 2024 1:21 pm

Russian Deputy Prime Minister and Minister of Industry and Trade Denis Manturov highlighted burgeoning economic ties between Russia and Central Asia during his address at the Innoporom Central Asia international exhibition. Manturov emphasized the significant presence of Russian capital in the region, with approximately 24,000 companies operating in Central Asian states and gross investments exceeding $38 billion.

Manturov outlined the potential for collaboration in the establishment of joint ventures aimed at producing essential spare parts for various sectors of machine building. He also emphasized opportunities in supplying equipment and systems for digitalization and automation of production processes, underscoring the mutual benefits of such partnerships.

The remarks signal Russia’s strategic interest in deepening economic cooperation with Central Asian nations, leveraging existing investments to foster industrial development and technological advancement. As the region continues to evolve as a vital hub for trade and investment, collaboration between Russian and Central Asian enterprises stands poised to drive economic growth and innovation.