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Uzbekistan is a land of opportunities for doing business, says Oybek

Monday, May 13, 2019
By A Business Reporter

<< (L-R) Shagazatov Oybek Bakhodirovich, Vice Governor of Kashkadarya Region, Republic of Uzbekistan, Ulugbek Yunusov, Deputy Governor of Namangan region, Republic of Uzbekistan, Vijay Kalantri, Honorary Consul General, Republic of Uzbekistan in Mumbai and President, AIAI, Farhod Arziev, Ambassador of Uzbekistan in India, Capt. Somesh Batra, Vice Chairman, MVIRDC World Trade Center Mumbai.

“The year 2019 is declared as the Year of Active Investments and Social Development in Uzbekistan. Uzbekistan is the investment paradise for foreign investors. I invite Indian companies to invest in the Kashkadarya Region of Uzbekistan and benefit from export opportunities to the 300 million consumer market of the Commonwealth of Independent States (CIS). Uzbekistan enjoys preferential market access to the CIS region. Our government is committed to promote investment from India. Our government has a system of regular communication with foreign investors and we address their challenges in timely manner. Government of Uzbekistan has liberalized foreign investment policy and it deals with foreign investors on first come first serve basis,” said Shagazatov Oybek Bakhodirovich, Vice Governor of Kashkadarya Region in Uzbekistan at the Business Forum organised by MVIRDC World Trade Center Mumbai, All India Association of Industries (AIAI) and the Embassy of Uzbekistan in Mumbai last week.

Bakhodirovich invited Indian companies to invest in Kashkadarya Region and explore huge reserves of gold, oil & gas and other minerals. He also highlighted investment opportunities in pharmaceuticals, healthcare services, information technology, hotels, automobile etc.

Speaking on this occasion, Ulugbek Yunusov, Deputy Governor of Namangan region in Uzbekistan remarked, “The Region of Namangan is poised to become the leader in all fields of the economy. The region enjoys steady economic growth, favourable business climate, sound financial system, strong telecom infrastructure and investor friendly policies. Government of Uzbekistan has given special policy framework to attract foreign direct investment in areas such as free economic zones (FEZs).”

In his address, Farhod Arziev, Ambassador of Uzbekistan in India remarked, “Hon’ble President of Uzbekistan Shavkat Mirziyoyev visited India twice in the last six months and this demonstrates our commitment to strengthen bilateral relationship. We have active exchange of delegation at the levels of deputy Prime Minister and other ministers. In January 2019, Uzbek-India Foreign Ministers Initiative was launched to kickstart dialogue on various areas of cooperation. There is tremendous scope for promoting people-to-people contact, cultural exchange, education and tourism. Recently, India’s Amity University and Sharda University established their presence in Uzbekistan.”

Arziev further informed, “Cooperation in the information technology field has started with the establishment of Uzbek-India technopark. In the field of culture, The Year of Uzbek Culture will be launched in India and The Year of Indian Culture will be observed in Uzbekistan from next year. Both the countries are also implementing joint film projects.”

The Ambassador expressed confidence that this Business Forum will result in fruitful networking session and mutually beneficial business partnership in the days ahead.

Earlier in his welcome remarks, Vijay Kalantri, Honorary Consul General, Republic of Uzbekistan in Mumbai and President, All India Association of Industries (AIAI) said, “Uzbekistan is the land of opportunity. The country has strong historical ties with India. The current bilateral trade volume of USD 350 million does not reflect the true potential for cooperation. We assure full support to the Government of Uzbekistan to increase this trade volume to USD 1 billion in the next two years. Both the countries have tremendous scope for collaboration in areas such as oil and gas, tourism, hospitality, pharmaceuticals, agro-processing etc. We are happy to note that Government of Uzbekistan has introduced e-visa for Indians. It is the only country after Thailand to offer e-visa for Indians free of cost.”

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