In­vest­ment Pro­pos­als un­der Dis­cus­sion

Ev­ery week, the In­ter­na­tional Ho­tel in Tashkent hosts brief­ings or­ga­nized by the State Com­mit­tee for In­vest­ments and de­voted to the dis­cus­sion of in­vest­ment pro­pos­als.

Uzbekistan Today (English) - - TODAY IN UZBEKISTAN - Tahir Mahkamov

Three sim­i­lar events have al­ready taken place with the par­tic­i­pa­tion of in­vestors from Uzbek­istan and abroad, rep­re­sen­ta­tives of diplo­matic mis­sions of for­eign na­tions, chiefs of gov­ern­ment agen­cies. Per­ma­nent mod­er­a­tor of these meet­ings is the Rep­re­sen­ta­tive of the Pres­i­dent of Uzbek­istan for the pro­tec­tion of rights and le­git­i­mate in­ter­ests of busi­ness en­ti­ties Dil­murod Kasi­mov.

At the first brief­ing Suhrob Khol­mu­radov, Uzbek­istan’s Deputy Prime Min­is­ter, Chair­man of the State Com­mit­tee for In­vest­ments, noted it is nec­es­sary to cre­ate to­day a sta­ble and ef­fec­tive feed­back from in­vestors. One of the ini­tia­tives in this di­rec­tion is the for­ma­tion of a uni­fied plat­form for open dis­cus­sion of in­vest­ment pro­pos­als.

The high-rank­ing gov­ern­ment of­fi­cial also talked about the cre­ation of an in­vest­ment por­tal, to be launched in the near fu­ture. It will al­low one to get ac­quainted with up-to-date in­for­ma­tion about the in­vest­ment po­ten­tial of Uzbek­istan, in­dus­tries and ter­ri­to­ries, the avail­able raw ma­te­ri­als base, con­di­tions cre­ated for in­vestors, priv­i­leges and pref­er­ences granted. The in­vestor, while abroad, will be able to get full ac­cess to the in­for­ma­tion of in­ter­est.

The Deputy Prime Min­is­ter also an­nounced the data on the im­ple­men­ta­tion of in­vest­ment ac­tiv­i­ties in the coun­try. Thus, in the first half of the year Uzbek­istan registered more than 960 en­ter­prises with for­eign cap­i­tal par­tic­i­pa­tion, which is al­most three times the num­ber of those es­tab­lished in the same pe­riod of the last year. Mean­while, spe­cial ac­tiv­ity is ob­served among rep­re­sen­ta­tives of the Rus­sian Fed­er­a­tion, the Repub­lic of Turkey, the Peo­ple’s Repub­lic of China, the Repub­lic of Kaza­khstan, the Repub­lic of Korea and other coun­tries. There is grow­ing in­ter­est in joint ac­tiv­i­ties on the part of en­trepreneurs from Afghanistan, In­dia, Ger­many, Ukraine, Azer­bai­jan.

Dur­ing an open di­a­logue, for­eign in­vestors talked about their ex­pe­ri­ence of work­ing in Uzbek­istan, dis­cussed projects un­der con­sid­er­a­tion.

In par­tic­u­lar, Amit Jain, In­do­rama rep­re­sen­ta­tive, said:

“Our stud­ies showed that be­fore the ar­rival of In­do­rama in Uzbek­istan in 2010, deep pro­cess­ing of cot­ton fiber in­side the coun­try was not so wide­spread. To­day the sit­u­a­tion has rad­i­cally changed, tex­tile en­ter­prises are be­ing cre­ated through­out the coun­try, which im­proves the sit­u­a­tion with em­ploy­ment of the lo­cal pop­u­la­tion.”

The sec­ond meet­ing a week later was de­voted to the fuel and en­ergy com­plex, chem­i­cal, petro­chem­i­cal, met­al­lur­gi­cal and min­ing in­dus­tries.

The event par­tic­i­pants noted that the ter­ri­tory of Uzbek­istan was stud­ied only by 20% and, ac­cord­ingly, there is a huge po­ten­tial to iden­tify new de­posits. Ac­cord­ing to ex­perts, the min­eral re­source po­ten­tial of the coun­try is es­ti­mated at about 5.7 tril­lion US dol­lars, of which more than $ 1 tril­lion is the worth of al­ready ex­plored re­serves and pre­pared de­posits. Tak­ing into ac­count such sig­nif­i­cant wealth of sub­soil, hav­ing an ap­pro­pri­ate reg­u­la­tory frame­work that meets mod­ern busi­ness re­quire­ments, the num­ber of is­sued li­censes to sub­soil users is also grow­ing, which, when cre­at­ing their own pro­duc­tion, make a sig­nif­i­cant con­tri­bu­tion to the de­vel­op­ment of Uzbek­istan. As a re­sult, in re­cent years the State Com­mit­tee for Ge­ol­ogy has is­sued more than 1,200 li­censes for the right to use sub­soil plots.

Meet­ings of this for­mat will con­tinue, in­clud­ing in such the­matic areas as en­gi­neer­ing, au­to­mo­tive and elec­tri­cal in­dus­try, health­care, phar­ma­ceu­ti­cals, ed­u­ca­tion, tourism and other spheres.

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