ICD and TUV SUD to develop private sector in Central Asia

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of Islamic Development Bank (IDB) Group and TUV SUD, signed a memorandum of understanding (MoU) to foster their joint operations, and expand the services offered to private sector investors in the countries of Central Asia.
The chief executive officer and general manager of ICD, Khaled Al-Aboodi and the managing director of TUV SUD Central Asia, Anar Ahmadov, signed the MoU on behalf of the two corporations at the IFN CIS Forum in Astana, the capital of Kazakhstan, on Wednesday.
The aim of the MoU is to facilitate cooperation between ICD and TUV SUD in promoting private sector participation in developing the member countries and inform about business opportunities in countries of Central Asia. This partnership will enable the two institutions to work closely on, among other things, market studies related to the transit and logistic sector in the common member countries.
During the signing ceremony, Khaled Al-Aboodi welcomed the expanding relationship between ICD and TUV SUD Central Asia. “Ensuring close and effective cooperation between international institutions has to be a top priority in this period of economic turmoil. ICD and TUV SUD can provide mutual assistance to promote private investment and infrastructure in the member countries, to create jobs and future growth opportunities.”
Anar Ahmadov added: “This MoU will enhance closer and more effective collaboration between TUV SUD and ICD and render our respective activities more effective and beneficial to the private sector players in the countries in which we undertake our respective operations.”