The International Islamic Trade Finance Corporation (ITFC) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) will jointly develop a regional investment attraction plan for all Central Asian countries.
Under the TCCA+ program, ITFC and ESCAP have formed a strategic partnership to launch a project with the goal of “Increasing Exports through Foreign Direct Investment (FDI).”
This project complements ITFC’s flagship TCCA+ program, which focuses on achieving inclusive economic growth, regional economic cooperation, and trade development among member countries of the Organization of Islamic Cooperation (OIC) in Central Asia.
The new project, “Increasing Exports through Foreign Direct Investment,” will benefit Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The project focuses on three key objectives: boosting exports through Foreign Direct Investment (FDI) in strategic sectors like digital services, agriculture, lighting, and petrochemicals in Azerbaijan, Kazakhstan, and Tajikistan; expanding digital and tech companies to assist businesses in Azerbaijan, Kazakhstan, and Tajikistan in attracting FDI and accessing international markets; and formulating a regional investment attraction plan under the leadership of ESCAP within the SPECA framework, encompassing all six Central Asian countries.
ITFC and ESCAP will closely collaborate with national and regional stakeholders, including governments, investment promotion agencies (IPAs), and the private sector, to ensure the successful implementation of the Project.
