German TUV SUD Plans To Expand Services In Central Asia

German TUV SUD Plans To Expand Services 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 German technical services provider TUV SUD signed a memorandum of understanding to foster their joint operations, and expand the services offered to private sector investors in the countries of Central Asia, ICD said in a message.

The memorandum signed during IFN CIS forum in Astana on March 14 is aimed at facilitation of cooperation between ICD and TUV SUD in promoting private sector participation in developing the member countries and informing 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.

ICD is a multilateral organization and a member of the Islamic Development Bank Group. The mandate of ICD is to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments, which are in accordance with the principles of Shari’a.

TUV SUD is a leading global provider of technical services, helping its clients improve quality, safety, reliability while ensuring environmental protection and cost effectiveness. More than 20,000 employees in over 800 offices around the globe, pool their multidisciplinary expertise to partner clients in their business process.

By Elena Kosolapova, Trend