Namangan International Investment Forum Attracts Business Leaders from 40 Countries

Namangan,12 June 2019-The Namangan city concluded the International Investment Forum “Doing business with Namangan” organized by the Ministry of Foreign Affairs of Uzbekistan and Khokimiyat of Namangan region along with other affiliated ministries and agencies.

The forum brought together 500 participants, including the representatives of business circles from 40 countries, members of diplomatic corps and foreign mass media.

The plenary session featured the speeches of the Deputy Prime-Minister of Uzbekistan A.Abdukhakimov, the First Deputy Minister of Foreign Affairs I.Nematov, First Deputy Minister of Investment and Foreign Trade A.Abdualiev, khokim of Namangan region Kh.Bazarov, the Chairman of the Chamber of Commerce and Industry of Uzbekistan A.Ikramov and others.

During the event participants got acquainted with the economic potential and business opportunities of Namangan region.

Local entrepreneurs exchanged views with forum participants on the export potential of the region and implementing joint projects in textile clusters, livestock, public-private partnerships and other areas.

Working sessions raised a wide range of issues on developing the trade, renewable energy, agriculture, innovation and tourism. The event also featured the exhibition of export goods along with B2B and B2G meetings.

Participants of international forum got acquainted with the work of major export oriented companies in Namangan region such as “Istiqlol Dizayn”, “Art Soft Tex”, “Merrimed Pharm”, “Chortoq Mineral Water”, “Ideal”. They also paid a visit to cultural, historical, tourist and educational places of the region, namely “Akhsykent”, “Chortoq Resort”, Isokhon Turi Ibrat complex and others.

Representatives of major companies from Austria, United Kingdom, Germany, India, Iran, China, Kuwait, United Arab Emirates, Oman, Russia and Singapore held negotiations in the khokimiyat of Namangan region.

Following the meeting, Deputy Prime-Minister of Uzbekistan A.Abdukhakimov and the head of the Ministry of Health singed the Memorandum with the representatives of Austrian company AME International GmbH and AVK GmbH on improving the technical base of Cardiology Center of Namangan region that foreseen interest free credit for $10,5 million.

Following the negotiation with the Chairman of Indian company “Ultimate Investment” M.Gupta, khokimiyat of Namangan region signed $50 million agreement on constructing hotels and a business center.

Uzbek party and Chinese company “Yantag Jimpeng Mining” agreed on $40 million mining project in Namangan’s Pap region.

Besides, Uzbek party and “Tavifa” Trade House (Russia) agreed to export textile products for $30 million.

The first day of negotiations wrapped with 24 investment agreements and export contracts on more than $170 million. 15 more agreements were signed the following day. Overall, around 40 documents worth $320 million were signed during the forum.

Khokimiyat of Namangan Region along with the Ministry of Foreign Affairs of Uzbekistan developed and launched the first ever madeinnamangan.uz internet-portal aimed to support exporters. It has the catalogue of country producers.

As many participants noted, arrival of a large number of international experts and guests to Namangan demonstrates the high interest of business circles to fast changing Uzbekistan. Along with that, hospitality, transparency and the drive for collaboration ensured the success of the forum.

Foreign entrepreneurs expressed their interest in participating in the similar annual forums across the regions of Uzbekistan which, in turn, will keep them on track of economic potential of the country, favorable conditions for investors and improving business-environment.