The Management Development Institute of Singapore (MDIS) is setting up shop in the city of Tashkent.

"This country is untapped," The Straits Times quoted MDIS secretary-general R Theyvendran as saying. "It’s new territory, and many people have not heard of it."

A team from the Central Asian republic, which became independent following the collapse of the Soviet Union in 1991, came to Singapore last year to invite foreign educational institutions.

A joint venture was struck between MDIS and the Uzbekistan Banking Association.

MDIS will conduct business, marketing and accounting diploma and degree courses at its Tashkent campus. The school aims to attract 1,200 students within three years. (dpa)