On January 28, 2009 Business Forum «Economic and Investment Potential of Tashkent» was held at the “Intercontinental-Tashkent” hotel. More than 500 representatives of international and domestic businesses, government and state authorities and foreign embassies attended it. This is the first event of the 2200 anniversary of ancient and eternally young capital of Uzbekistan opening the series of large-scale jubilee celebrations, the most important of which will be held in May of this year.

As it is known, in November 2007 a resolution of 2200 anniversary of Tashkent celebration has been taken at the 34th session of the General Conference of UNESCO, which clearly confirms the high importance given to the role of Uzbekistan and its capital on the world stage.

Today’s Tashkent is a modern metropolis, political and economic center not only of the Republic of Uzbekistan, but the whole region as well. It is a huge industrial center, where the latest innovative ideas are being implemented and where the intensive development of basic sectors of industry is being provided an  extensive work on the  an re-construction of existing and creation of new facilities through the use of advanced technologies. Competitive, exportable and import-substituting products are manufactured.

As to economic potential of Tashkent, it is to say that capital’s industry is one of the main pillars of the country's development. Currently, a significant share of the GDP, industrial production, foreign trade turnover accounts to the capital of Uzbekistan. It is enough to say that practically all indicators in the past year showed significant growth against the previous year. Thus, foreign trade turnover amounted to 6993.8 million dollars (an increase of 115.5%), the volume of export was 3183.1 million dollars (an increase of 122.6%), industrial output was 3472.8 billion soums (up to 2007 amounted to 136.8%). The sectors and enterprises equipped with the most modern technologies keep the leading place in industry of the city. The spheres of electronics, aircraft manufacturing and machinery are quite well-developed on it’s basis. Many enterprises of light and food industries which  are equipped with modern technological lines manufacture the products of good quality and high demand. A number of large enterprises greatly contributed to the development of the country for many years, are being supplemented by new production capacities. Successes in the production of modern building and decoration materials are the backbone of the creative work in changing the image of our cities and above all the capital of our country.

The fact that there are 30950 small and private enterprises registered in Tashkent, and scope of their industrial output amounted to 1073.1 million soums, is an evidence of the real results of work toward the liberalization of the economy.

The investment environment, benefits created for foreign investors let to attract investments in the long term base, allow foreign partners to participate actively in the programs of privatization and modernization of industrial enterprises. Essentially, creation of the favorable investment climate and conditions for foreign investors activity are the most important and strategic direction of economic reforms in the republic, and as an evidence of that is activity of 3160 Tashkent enterprises with foreign capital with the volume of production (works and services) amounted to 2098.1 billion soums last year, which is 60.4% of the total number of industrial enterprises of the city.

In the current Business Forum, organized by the Ministry of Foreign Economic Relations, Investments and Trade, Ministry of Economy, Mayor Office of Tashkent city, Chamber of Commerce and Industry of Uzbekistan and “Uzinfoinvest” Agency, participants and guests could have got acquainted with the strategic investment projects and objects of state ownership of Tashkent proposed for implementation with participation of foreign investors, investment projects of small and private business. Besides the heads of enterprises with foreign capital shared the participants with an experience of their activity.

At the panel meetings held in  International Business Center, representatives of the business circles had an opportunity to learn the specific investment projects in the electro-technical, chemical, pharmaceutical and textile industries, energy, machinery, tourism, urban development and privatization of state property. 

Press Service of MFERIT