Uzbekistan, US to launch joint investment platform

Uzbekistan and the US will launch a joint investment platform, Uzbek Minister of Investment, Industry, and Trade Laziz Kudratov said at the Uzbek-American Business Forum, Report informs.

"Today, we will announce the launch of a joint investment platform. This platform will serve as a financing tool for joint projects. On the American side, funding will be provided by the US International Development Finance Corporation (DFC) and the US Export-Import Bank (Exim Bank), and on the Uzbek side, by the Fund for Reconstruction and Development of Uzbekistan," the minister said.

According to him, the new platform is designed to support promising joint projects between Uzbek and American companies and address the lack of funding that often hinders their implementation.

Kudratov noted that the largest American business delegation in the history of bilateral relations has arrived in Uzbekistan. He said this demonstrates that American companies view Uzbekistan not only as a market but also as a long-term investment partner.

"We believe that now is the most opportune time to discuss a special economic zone for American companies. This zone should become a practical base for American investment, technology, and production in Central Asia," Kudratov emphasized.

He emphasized that this should not just be a plot of land, but a fully-fledged business environment in which American companies will feel comfortable: "We will create conditions with clear rules, ready-made infrastructure, reliable utilities, simplified procedures, access to logistics, and direct government support."

Carolyn Lamm, Chair of the American-Uzbekistan Chamber of Commerce, noted the strengthening of economic ties between the two countries and the growing interest of American businesses in Uzbekistan. She noted that while in 1993 the chamber included only a few companies, today its members include more than 50 large American corporations.

She noted that the volume of new American investments in Uzbekistan exceeded $1 billion last year and has already reached over $2 billion this year.

DFC CEO Ben Black stated that the United States is interested in developing a long-term partnership with Uzbekistan and Central Asia. He emphasized the region's significant potential due to its young population and growing economic opportunities.

In turn, John Jovanovic, President and Chairman of the Exim Bank US, emphasized the readiness of American institutions to support projects in strategically important sectors and further strengthen economic cooperation between the two countries.