{"id":29064,"date":"2024-05-03T09:50:24","date_gmt":"2024-05-03T09:50:24","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/live\/?p=29064"},"modified":"2024-05-03T09:51:36","modified_gmt":"2024-05-03T09:51:36","slug":"president-shavkat-invites-foreign-investors-to-benefit-from-highly-conducive-environment-for-business-in-uzbekistan","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/president-shavkat-invites-foreign-investors-to-benefit-from-highly-conducive-environment-for-business-in-uzbekistan\/","title":{"rendered":"President Shavkat Invites Foreign Investors to Benefit from Highly Conducive Environment for Business in Uzbekistan"},"content":{"rendered":"
\"\"Tashkent\/ Islamabad: Monitoring Desk – The third Tashkent International Investment Forum kick started in the beautiful and historical capital city of Tashkent in the Republic of Uzbekistan.\u00a0 President of the\u00a0 Shavkat Mirziyoyev in his inaugural address to the participants of the forum apprised them of investment friendly environment and policies of the government of Uzbekistan. The President outlined the future strategy of the government to further improve the the procedures , rules and regulations to attract foreign direct investments to this emerging economy of Central Asia.<\/strong><\/em><\/h5>\n
The New Uzbekistan is a rapidly developing, just and secular country with vast opportunities. More than 2500 foreign guests from 93 countries are attending the event that clearly confirms the growing importance of the Forum. This is a sign of a huge interest in reforms that have become irreversible in the country, in establishing mutually beneficial cooperation.<\/h5>\n
Uzbekistan is launching new large-scale projects with world-renowned companies in this forum, such as \u201cLinde\u201d, \u201cOrascom\u201d, \u201cDataVolt\u201d, \u201cBonafarm\u201d, \u201cPasha Holding\u201d and others. The President\u00a0 expressed his deep and sincere gratitude to foreign investors and all our partners who contribute to this work.<\/strong><\/em><\/span><\/h5>\n
The forum is becoming a great annual tradition, new and reliable partners from all continents of the world are gathering in Uzbekistan. Over the past three years, this Forum has provided a broad platform for enhancing collaboration, discussing pressing issues, and generating fruitful ideas and solutions to tackle the most urgent challenges.<\/h5>\n
President Shavkat Mirziyoyev welcomed the guests in his inaugural address and shed light on the prospects of the forum. He said, “Our conference is taking place in period of increasing global geopolitical and economic problems, challenges and threats to the sustainable development. The world order is undergoing deep transformation.Disruptions of supply chains of goods and services, decrease in international trade and investment flows, an exacerbation of climate disasters clearly demonstrate how unstable the situation is becoming.”<\/h5>\n
Uzbekistan, In the past few years, have attracted over 60 billion dollars in foreign investments. According to the details shared by the President in his address, more than 14 billion dollars from international financial institutions have been directed to social and infrastructure projects. The volume of foreign investments nearly doubled last year.<\/h5>\n
Notable increases are clear in the fields of energy with companies like \u201cAcwa Power\u201d, \u201cMasdar\u201d, \u201cTotal Eren\u201d, \u201cVoltalia\u201d, \u201cCalik\u201d, and \u201cAksa\u201d; in the chemical industry with \u201cAir Products\u201d, \u201cIndorama\u201d, and \u201cKamse\u201d; in construction and metallurgy with \u201cOrano\u201d and \u201cDanieli\u201d; in automotive and electrical engineering with \u201cBYD\u201d, \u201cKIA\u201d, and \u201cSamsung\u201d; and in construction with \u201cKoch\u201d and \u201cKnauf\u201d along with other leading global companies. Together, we have initiated over 300 investment and industrial projects, and created hundreds of thousands of new jobs, which I highlight with great gratitude.<\/em><\/strong><\/span><\/h5>\n
One the other side, as mentioned by the President, “The growth rates of the world economy have been declining for the past three years. The trends related to the foreign direct investments are not meeting expectations either. In 2023, the total volume of investments in developing countries decreased by 9%.”<\/h5>\n
The President rightly said that\u00a0 no country can solve such problems alone. The spirit of mutual trust and respect, and the principle of mutual support remain solid pillars of long-term cooperation. He , in this regard, shared the example of Uzbekistan where\u00a0 decisive steps to fundamentally improve the investment and business environment, and to eliminate obstacles step by step. Uzbekistan is\u00a0 implementing comprehensive reforms to ensure that every entrepreneur feels free and confident.<\/h5>\n
As mentioned by the President, Uzbekistan, 7 years ago, embarked on uneasy, but systemic reforms with big aims. Identified the liberalization of the economy, the creation of a favorable investment climate, and the broadening of opportunities for entrepreneurs as our main objectives.In recent years,\u00a0 economy has nearly doubled. Last year alone, growth rates reached 6 percent, while inflation remained below 9 percent. The trade turnover is steadily increasing. The stability of the national currency and foreign exchange reserves are being maintained.<\/h5>\n

Comprehensive Strategic Partnership between the Republic of Uzbekistan and the People’s Republic of China in a New Era<\/a><\/p><\/blockquote>\n