Members of Uzbek delegation including representatives “Uzinfoinvest” agency under the Uzbek Ministry for Foreign Economic Relations, Investment and Trade, Ministry of Economy, SSC “O’zfarmsanoat”, SSC “O’zkimyosanoat” and JSC “O’zqurilishmateriallari” and over 70 representatives of German companies, banks, economic associations, federal economy, technology and environment ministries, various business support societies and German media participated in the presentation organized cooperatively with the Eastern Committee of German Economy.

The forum stressed that the Uzbek authorities’ measures of reforming the national economy and creating favorable investment climate made Uzbekistan a dynamically developing industrial center of the region. The country provides foreign investors with a fine opportunity to implement efficient and mutually beneficial projects in engineering, petrochemical, pharmaceutical, light, electrical engineering, construction materials and food industries and agricultural produce processing.

The presentation paid specially attention to its significant value, taking into consideration the Uzbek delegation’s concrete investment projects in various spheres of cooperation.

Making a speech in the presentation, managing director of Eastern Committee of German Economy O. Wick noted that German entrepreneurs expressed high interest in the development of business contacts with Uzbekistan. A visit of German delegation including leading businessmen of Germany to Tashkent in February this year is a clear example, he thinks.

Uzbekistan’s convenient geographic position, rich resources and stable economic development and its policy for modernizing and diversifying the national industry open new opportunities for productive business management.

“The German government mainly focuses on cooperation with Uzbekistan as well as within implementation of EU Strategy on Central Asia,” O. Wick said. “Recent positive tendencies in commercial and economic relations between Uzbekistan and Germany are worth attention. We have successfully implemented a number of bilateral projects on processing industries. The German government is to support German enterprises’ and companies’ aspiration to long-term cooperation with Uzbekistan.”

The German were presented reports on Uzbek investment climate and investment potential and on framework conditions of foreign investors’ businesses and Uzbek government’s preferences and benefits for them.

The Uzbek party also made presentations on “Prospects of investment cooperation in chemical industry of Uzbekistan”, Participation of foreign investors in pharmaceutical projects of Uzbekistan”, “Priority projects in construction material production in Uzbekistan” and “Capacities of introducing energy-saving technologies and project implementation with the Clean Development Mechanism (CDM) in Uzbekistan”.

During discussions the businessmen of Germany showed interest in opportunity of establishing contacts with their Uzbek partners and running mutually beneficial business in Uzbekistan.

“We deal with projects under the CDM Kyoto Protocol to gain additional financial and investment inflows by issuing certificates on carbon dioxide emission reduction,” noted Petra Opitz, chief of DENA’s Department for International Cooperaion.

“These projects are mainly directed ensure to increase efficiency of energy using and produce it from alternative sources which help to cut down exhaust gas emission. I think that Uzbekistan has a good potential in this sphere. We have initial positive experience related to your country. Last year we presented these projects in Uzbekistan within the framework of an investment forum in Leipzig.”

The republic has vast power engineering, processing industries, municipal engineering and agricultural potential. It basically refers to the development of using alternative energy sources, for instance, biogas.

“My experience shows that Uzbekistan has favorable conditions for foreign investors,” said Huneter Philip, director-general of Pecon glass GmbH. “In 2005 our company implemented an efficient investment project in Uzbekistan and set up the “Pharm Glasse” joint venture. Every year the republic improves its foreign investment legislation that ensures duties and rights of investors. It is remarkable that the country develops internal production and industrial localization in order to reduce import. This activity creates new workplaces and improves Uzbek people’s welfare.”

Upon the end of Uzbek delegation’s visit to Germany the parties signed Memorandum on cooperation between National CDM Office under Ministry of Economy of Uzbekistan and DENA, energy agency of Germany and held investment forums on joint project implementation. In addition, the “O’zfarmsanoat” and Pecon Glass GmbH agreed to develop capacity of JV Pharm Glasse by delivering and launching glass producing equipment. The German investments in this project are to reach EUR 15 mln.

"Uzbekistan today" news agency