Elyor Ganiyev: \"For the past 12 years the scale of economy in Uzbekistan doubled\" -Modern Uzbekistan – is a leading industrial state in Central Asia, providing stability and economical development of the whole region, has mentioned in his opening speech, in the VI- Tashkent international investment-financial forum (TIIFF), the Minister of foreign economic relations, investments and trade of the Republic of Uzbekistan, Elyor Ganiyev.

From the first days of independence in Uzbekistan has been held the consequent transformation of the economics, including that the efforts of the government are primarily directed to creating the active and efficient institutional basis of the market economy, systematic reforming and liberalization of the economy, the further modernization of industrial spheres, development of the trade and economical relations with other countries.

Over the past few years, in Uzbekistan were carried out large scale structural institutional reforms, resulted with that our republic became the first among the other CIS republics in the stage of economical growth, and already by the year 2000, restored the pre-reform level of gross domestic product. Due to the constant implementation of Uzbek reforming model, for the past 12 years, economics scales of Uzbekistan doubled. The sustainable macro-economic stability, balance of internal and external sectors have been reached, reflected in areas such as balancing of the state budget, which from 2005, has been completed with profits, stability of foreign positions, characterized by the stable positive saldo of trade, payment balance and the consistent growth of golden resources, -stated the Minister of foreign economic relations, investments and trade of the Republic of Uzbekistan, Elyor Ganiyev.

Should we also say, that the held structural reforms create conditions for providing the stable pace of the economic growth of Uzbekistan – more than 8 % a year during the last seven years. Beginning from 2000, the industrial share in the economics of the country has grown up to 17 % till 26% in 2012. The middle inflation of the investments into the economics annually compose not more than 20 % of GDP, small and private business share in GDP already exceeded 50%. Public’s financial profits are growing up to 22%-24% a year, stimulating the internal demand for different types of service and goods.

- By 2012 results, the GDP of the country has risen up to 8,2%, the growth of the industrial production composed 7,7 %, agricultural production-7%, retail turn over- 13,9%. Other macro-economical indicators carry the positive character. As for the banking system of Uzbekistan, it has the high indicators for the capitalization, stability and safety. The sufficiency level of the capital is 24 %, that for three times increases Basel standards, - added Elyor Ganiyev.

Should we note, that by the estimation marks of the independent experts, including the International Currency fund, World Bank, Asian Development Bank and other authorized financial institutions, today Uzbekistan showed the high paces of the economic growth, consistently is developing the industry, agriculture, private sector, has been providing the stable growth of the direct foreign investments.

According to their forecasts, the high paces of the economic growth of Uzbekistan will keep for the nearest 5-10 years on the level 7%-8%. On the information of the Ministry of foreign economic relations, investment, and trade of the Republic of Uzbekistan, in achieving such stable indicators of the economic growth of the country, the foreign investments played significant role.

For the period of independent development of our country’s economic, were attracted investments in amount of more than $120 billion, 50% of them – direct foreign investments. In 2012, the total volume of the attracted foreign investments composed more than 6 billion $, from which to the share of direct foreign investments accounted about 80 %. The annual growth of the foreign investments composed 20-25%, that indicates the high attractiveness of the Uzbek economy and its capabilities, stressed Elyor Ganiyev.

Shavkat Tulyaganov: \"In 2012 more than 450 foreign enterprises were created in Uzbekistan\" About the investment climate in the Republic of Uzbekistan and it’s cooperation capabilities on the implementation of high technological projects in the framework of the special industrial economic zones to the participants of VI Tashkent international investment and financial forum, told the Deputy Minister of foreign economic relations of the investments and trade, Shavkat Tulyaganov.

- One of the major factors of the successful investment to our economy, is the political and economical stability, the developed regulatory-legal basis, energetic independence, the diversified industry, the beneficial geographical location and the presence of the high qualified personnel, - started his speech Shavkat Tulyaganov .

More over, he told in details about legal basis created in Uzbekistan, in particular, about the main laws, providing the guarantee and the protection of foreign investors. Among them – there is the law of the Republic of Uzbekistan “About national investments”, the Law of the Republic of Uzbekistan “About investment activities” and the Law of the Republic of Uzbekistan “About guarantees and protection measures of foreign investors’ rights”.

-I should note, that any enterprises with foreign investments, implemented their activity in Uzbekistan territory, will have the support on creating the foreign infrastructure from the side of local authorities. Last year, in Uzbekistan, were created more than 450 enterprises with foreign capital, - continues Shavkat Tulyaganov.

The special attention of the session participants was taken to the diversification of the industry. Currently, all directions of industry in Uzbekistan are actively developing, including the oil and gas, petrochemical, textile, the scope of engineering, automobile industry and others.

It was also stressed, that in our country have been implemented large projects, including in the automobile industry. One of these projects is the plant of engine production, established in cooperation with ‘GM”, as well as the large enterprises, producing heavy vehicles jointly with German company “MAN”.

In the end of his speech, speaker told forum participants in details about the opportunities of business development in the framework of FIEZ “Navoi”, FIZ “Angren” and FIZ ‘Djizzakh”.

Kazim Kaher: \"Over the past 7 years \"GM\" company doubled the volume of the production in Uzbekistan\" The regional manager of “GM” in Uzbekistan, Kazem Kaher, during the VI Tashkent International Investment Financial Forum made a speech, dedicated to the activity of “GM” company in the Republic of Uzbekistan.

Today automobile production is the actively developing field of economics of Uzbekistan. One of it’s bright and successful representatives, we surely say is “GM Uzbekistan” company.

- As you know, one of our facilities located in Asaka city. There we produce parts for several car models, , and make an assembly of these cars in the plant of Tashkent.- said in the beginning of his speech Kazem Kaher.

Note, that the facility in Asaka- is the joint venture of ‘Uzavtosanoat” with “GM”, which provides 7000 jobs, and also puts the significant contribution to the social and economic development of the region.

The company “GM Uzbekistan” is increasing not only sale volumes in Uzbekistan markets, but also is doing the export of the production. In addition, has been improving the technical capabilities of the production process.

- We manufacture our production in a large variety and volume. These are multi targeted models, designed for middle and high level as for example, Chevrolet Malibu and Chevrolet Captiva.

- Over past 7 years we managed to double the volume of the production in Uzbekistan, and continue working in this direction. More over, the company goes on to expand the network of the production spreading. So, in Uzbekistan there are functioning 63 dealerships points, that sells cars under the brand Chevrolet,- says Kazim Kaher. –At present, our company employed 30 international staff from 12 world countries, who at various times had worked in different factories of “GM” around the world. Thus, we pay a great attention to the experience exchange as well.

The specialist thoroughly described the last model from “GM” – Chevrolet Cobalt, presented a big interest for the developing countries and having a big level of the localization.

Chevrolet Cobalt started to produce in Uzbekistan from October 2012. Should we mention, that if earlier the engines imported, at present they have been producing in Tashkent plant. This enterprise was opened in 2011, and today more than 1000 people have been working there. The company’s nearest plan – is to start exporting to Indonesia and Korea.

Was also mentioned, that “GM Uzbekistan” is paying a big attention to the cooperation with the educational institutions. Thus, among partners there are Turin Polytechnic University, Tashkent Aviation college, Mirzoulugbek Industrial college and others.

According to results of the VI Tashkent International Investment-Financial Forum has been signed 9 international agreements in amount 3,9$ billion On April 26, in Tashkent, according to the results of the VI International investment-financial forum was signed 9 international agreements on the implementation of the investment-financial projects of total amount 3932 mln. US Dollars.

The direct agreement on implementation of the project “Construction of Gas Chemical Complex on the basis of field Surgil with the arrangement of the field” was penned between the Government of the Republic of Uzbekistan, in the face of Elyor Ganiyev, the Minister of foreign economic relations investment and trade, and the Korean company “Korea Gas Corporation” in the face of vice-president Yong Don Cho, in amount 3900 mln. US Dollars.

Memorandum of understanding of the expansion of the production of yarn was signed by the first vice-president of the chairman of the company SJSC “Uzbekiyengilsanoat” Maqsud Mansurov, and vice-president of Singapore company “Indorama Corporation”, Prakash Kejrival, in amount of 25 mln. US Dollars.

One more memorandum of understanding of the expansion of the production of yarn was signed between SJSC “Uzbekyengilsanoat”, in the face of the first deputy of the chairman Maqsud Mansurov, and the Korean company “Daewoo Textile Ferghana”, in the face of general director Li Song Ila, in amount 2 mln. US Dollars.

Memorandum on the cooperation on the organization of the production of drugs in the Republic of Uzbekistan was signed by the chairman of SJSC “Uzfarmsanoat” Mirzanozim Dustmuratov and the president of polish company “Lek-am CP.z.o.o.” Andjey Vijihovski.

Memorandum on cooperation of the implementation of the project on establishing of the drug production in SIEZ “Navoi” was also signed between SJSC “Uzfarmsanoat” in the face of the chairman Mirzanozim Dustmuratov and the Indian company “Bravo Farma” in the face of the director Rakesh Pandey, in amount 5 mln. US Dollars. Memorandum of understanding on the establishing of the cooperation in the sphere of telecommunicative technologies was signed JSC “Uzbektelecom” in the face of the first deputy of general director, Qahramon Yuldashev, and Japanese company “NEK Corporation”, in the face of the deputy head of the Representation of the Corporation, Vatara Ivata.

Memorandum of understanding on the development of solar technologies in the Republic of Uzbekistan was signed by director of the International Institute of solar energy, Alim Hakimov and the director of Belgian company “Intellisol” Herman Deniels.

The Association of the professional participants of the insurance market of Uzbekistan in the face of its General director Bahodir Halbayev was signed the Agreement on establishing the cooperation in the sphere of insurance with Natalya Gudima, President of the League of Insurance of Organizations of Ukraine as well as Irina Merzlyakova, General Director of Belarusian Association of Insurers. (Source: UzReport Information Agency)