On June 30 of this year, Deputy Prime Minister and Minister of Investment and Foreign Trade of the Republic of Uzbekistan S. Umurzakov met with Executive Director of the United States Financial Corporation for International Development (DFC) A. Boler, during which they discussed prospects for the development of cooperation in the context of strengthening bilateral relations of Uzbekistan and the USA.
Boler noted the high interest in the Corporation’s direct participation in the processes of socio-economic reforms in the Republic through co-financing of priority projects and initiatives aimed at developing the private sector and infrastructure.
For an early transition to practical cooperation, American partners were invited to consider a package of 27 specific investment projects in the field of agriculture, light industry, pharmaceuticals, and the production of building materials.
The American side expressed its readiness to consider opportunities for participation in public-private partnership projects in the fields of solar and wind energy, as well as the transport sector.
The parties also discussed the potential for involving DFC in financing private investors involved in the privatization of large state-owned enterprises and commercial banks in Uzbekistan.Separately discussed the possibility of creating a joint investment fund with equity participation of the DFC corporation and the government of Uzbekistan with the prospect of attracting also the governments of other countries of Central Asia and Afghanistan. The objective of the fund will be the implementation of priority projects of regional importance in the fields of energy, infrastructure, education, healthcare, as well as initiatives aimed at supporting women’s entrepreneurship and ensuring employment of the population.
The issues of potential involvement of other interested parties to participate in the creation of this Fund were discussed.
Issues of developing economic cooperation in the region were also touched upon: the importance of further cooperation in order to organize effective logistics routes and expand transnational railway infrastructure for connecting with large transport hubs of international importance was noted.
As a result of the negotiations, an agreement was reached on the creation of a joint working group in order to work out high-quality agreements reached and develop new areas of partnership.
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