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The third Tashkent International Investment Forum showcases Uzbekistan’s investment potential after $26.6 billion in agreements successfully signed
$26.6 billion: the total amount of signed agreements, which is 141.8% higher as compared to the results of the last years’ Forum.
$4.85 billion: the largest agreement, signed within the framework of The Forum with ACWA Power.
$2.5 billion: the mandate of the International Islamic Trade Finance Corporation (ITFC) for the implementation of the historic program “Trade Connect Central Asia+” (TCCA+), which was announced during the Forum.
2,500+ participants from 93 countries
TASHKENT, Uzbekistan, May 8, 2024 /PRNewswire/ — The Ministry of Investment, Industry and Trade of the Republic of Uzbekistan is delighted to share the strong results of the third Tashkent International Investment Forum that took place from 2 to 3 May.
This year, The Forum was attended by a record number of participants: 2,500+ from 93 countries around the world. Within the framework of the Forum, agreements were signed totaling $26.5 billion, which is 141.8% higher than the results of last years’ Forum ($11 billion).
Agreements were signed in various sectors: from renewable energy and digital technologies to textiles and agriculture, among others.
The largest agreement was signed with ACWA Power (Saudi Arabia) and involves the construction of wind power plants capable of generating power to around 4.5 million houses in Uzbekistan per year. This project is worth $4.85 billion.
Moreover, agreements were signed on the implementation of the following investment projects:
- “Data Volt” (Saudi Arabia): construction of urban infrastructure in “New Tashkent” with total project amount of $1 billion, as well as a data center amounting $3 billion.
- “Amea Power” (UAE): wind power station project with a capacity of 1000 MW in the Republic of Karakalpakstan, totaling $1.1 billion.
- “Saudi Tabrid” (Saudi Arabia): heating system modernization projects in Nukus, Fergana, and Kuvasay totaling $750 million.
- “Nil Shugar” (Egypt): sugar beet cultivation and production project in the Jizzakh region totaling $500 million.
- “Shanghai Knud International” (China): textile and sewing production in Namangan region totaling $205 million.
- “Wilmar International” (Singapore): food production project in Tashkent region totaling $200 million.
In addition, agreements were reached at the Forum with a number of major global companies, such as “Orascom Investment” (Egypt), “Sayar” (USA), “Goldwind”, “Sinoma” (China), “Sam Yapi” (Turkiye), “Pasha Development” (Azerbaijan) “Lasselsberger” (Austria) and “Petrosat Chexelsoton” (Iran)
Also, as a result of the Forum, an agreement was signed with the International Islamic Trade Finance Corporation (ITFC) for the implementation of the “Trade Connect Central Asia+” (TCCA+) program, aimed at significantly increasing the volumes and shifting the structure of trade between the countries of Central Asia and Azerbaijan. The ITFC’s mandate for the implementation of this program amounts to $2.5 billion. The project’s ultimate objective is to increase the share of regional exports of non-mining and non-oil-and-gas products among the 6 countries of the region to 23% within 5 years.
Following the Forum’s results, the Minister of Investment, Industry and Trade of Uzbekistan, Laziz Kudratov, remarked: “In three years of holding The Forum, this year’s event has been the most successful – and the level of discussion as well as the quantity and value of signed agreements showcase this. Also, most importantly, the opening speech of the President of Uzbekistan, which began the Forum, confirmed to existing investors in the country the wisdom of their decision, and served to persuade potential investors of the compelling attractiveness of the New Uzbekistan: the big country with big opportunities. We are open to cooperation and look forward to welcoming investors – for whom we are creating a positive environment in which they can create value for their businesses and for the people of Uzbekistan“.
SINGAPORE, May 20, 2024 /PRNewswire/ — SUNRATE, an intelligent global payment and treasury management platform today announced it has joined Mastercard Priceless Planet Coalition in support of fighting climate change through funding the restoration of 100 million trees. This announcement is part of the global fintech’s efforts to contribute to a sustainable economy and improvement of the planet.
“The Priceless Planet Coalition works by uniting companies, communities and consumers in collective, coordinated climate action. By pooling resources, it’s possible to rapidly scale forest restoration work and environmental initiatives, while providing forward-thinking companies like SUNRATE with pre-existing infrastructure that easily – and cost effectively – allows them to have a tangible impact. It is this connectivity that makes the Priceless Planet Coalition different and more effective,” said Sandeep Malhotra, executive vice president, Products & Innovation, Asia Pacific, Mastercard.
Mastercard founded the Priceless Planet Coalition in January 2020 which is guided by climate science and forest restoration experts Conservation International (CI) and World Resources Institute (WRI). The Coalition employs rigorous science-based best practices for the selection, implementation and monitoring of forest restoration efforts.
“Tackling climate change is critical to our sustainability framework and studies have shown that reforestation is key to combating global warming, which in turn influences climate change positively. Therefore, we are proud to join this initiative and work together with Mastercard and other stakeholders to protect our planet and make our lives greener,” said Darren Thang, Head of Marketing of SUNRATE.
About SUNRATE
SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.
With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and J.P. Morgan. To learn more about SUNRATE, visit https://www.sunrate.com/
View original content:https://www.prnewswire.co.uk/news-releases/sunrate-joins-mastercards-priceless-planet-coalition-302148961.html
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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
Photo – https://mma.prnewswire.com/media/2416426/eWTP_Preqin.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ewtp-arabia-capitals-technology-fund-i-recognized-as-top-performing-vc-fund-in-the-preqin-league-tables-302149554.html
Revio, a burgeoning fintech startup, has been making waves in the financial technology sector with its innovative solutions and rapid growth. This dynamic company, founded just a few years ago, has successfully garnered the attention and backing of industry giants like Old Mutual and MTN. Their journey from inception to becoming a key player in the fintech space highlights the potential of young startups to disrupt traditional industries and capture significant market share.
Innovative Solutions
Revio’s success can largely be attributed to its cutting-edge financial solutions that address pressing needs within the market. The startup offers a range of services designed to streamline financial processes, enhance security, and improve accessibility for both individuals and businesses. By leveraging advanced technologies such as artificial intelligence and blockchain, Revio has created products that not only solve existing problems but also anticipate future financial trends.
Strategic Partnerships
The partnerships with Old Mutual and MTN are pivotal milestones in Revio’s growth trajectory. Old Mutual, a renowned financial services group, brings a wealth of experience and a broad customer base, providing Revio with an invaluable platform for scaling its operations. On the other hand, MTN, a leading telecom company, offers extensive reach across various markets, particularly in Africa, where fintech solutions are in high demand.
These alliances are more than just financial endorsements; they signify a strong vote of confidence in Revio’s vision and capabilities. By collaborating with established entities, Revio can tap into new customer segments, enhance its technological infrastructure, and accelerate its market penetration.
Market Impact
Revio’s impact on the market is already evident. The company’s solutions are being adopted by a growing number of users, ranging from individual consumers to large corporations. This widespread acceptance is a testament to the practical value and reliability of Revio’s offerings. Moreover, the startup’s commitment to continuous innovation ensures that it stays ahead of the curve, adapting to the evolving needs of the financial sector.
Future Prospects
Looking ahead, Revio’s prospects appear promising. The financial support and strategic guidance from Old Mutual and MTN position the startup for sustained growth and expansion. As Revio continues to innovate and refine its products, it is likely to attract even more interest from investors and partners. The fintech landscape is highly competitive, but Revio’s unique approach and strong backing give it a distinct edge.
In conclusion, Revio’s journey from a fledgling startup to a fintech powerhouse exemplifies the potential for innovation and strategic partnerships to drive success. With the support of industry leaders like Old Mutual and MTN, Revio is well on its way to becoming a dominant force in the financial technology sector, transforming how financial services are delivered and experienced.
Source: theafricareport.com
The post Revio, the young fintech winning over Old Mutual and MTN appeared first on HIPTHER Alerts.
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