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Uzbekistan|economy|May 4, 2023 / 03:45 PM
President of Uzbekistan holds talks with heads of leading companies and banks in Germany

AKIPRESS.COM - President of Uzbekistan Shavkat Mirziyoyev met with the heads of Germany's leading companies and financial institutions on May 3 as part of his visit to the country, UzA reported.

The event from the German side was attended by the heads of the Eastern Committee of German Economy, the German-Uzbek Business Council, the German Energy Agency, the heads of about 30 largest companies and banks, such as CLAAS, Knauf, Siemens Energy, Lasselsberger, Aurubis, Linde Group, Gunter Papenburg, Falk-Porsche-Technik, Mangold Consulting, DB Engineering, Landesbank, Commerzbank, KfW Bank, Deutsche Bank, and others.

Addressing the meeting, the President of Uzbekistan emphasized the achieved high level of trust and mutual respect in relations with Germany. More than 60 projects worth 5 billion euros are being implemented in Uzbekistan with the participation of German partners.

The volume of German investments has amounted to 4 billion euros only in recent years, the number of joint ventures has doubled. Such important companies for the German economy as CLAAS, Knauf, Gunter Papenburg, Linde Group and Falk-Porsche-Technik are successfully operating in Uzbekistan.

The President emphasized that the key role in the implementation of the agreements reached during the current visit and further joint plans can and should be played by business circles.

Several new trade, financial and investment agreements worth 9 billion euros were signed on the sidelines of the Uzbekistan - Germany business forum, which was held the day before, to develop industrial cooperation and enhance technological partnership.

These are large-scale projects in green energy, transport infrastructure development, metallurgy, water supply, agriculture, chemical, mining, automotive, textile, electrical industries, and other areas.

It is planned to enhance interaction in the banking and financial sector, in particular on project financing with such major German banks as Deutsche Bank, Commerzbank, KfW, and Landesbank.

It was emphasized that now the state guarantees the rights of investors and their protection in court. Government agencies will now be required to prove the legality of their decisions. Any emerging ambiguities will be interpreted in favor of investors.

"A foreign investor should associate Uzbekistan first of all with stability, reliability and predictability. We are ready to create all the conditions for every German businessman to feel free and confident in our country. We can achieve great results by combining Germany’s advanced developments and innovative technologies with Uzbekistan’s resources and human potential," Shavkat Mirziyoyev noted.

During the exchange of views, German entrepreneurs highly the significance of the reforms being implemented in Uzbekistan, which create prerequisites for more ambitious and long-term plans of German businesses to carry out investment activities in Uzbekistan.

At the meeting, specific proposals were made by the leaders of German companies. Readiness was expressed for further continuation of practical collaboration and expansion of cooperation in priority areas.

President Shavkat Mirziyoyev thanked the German business representatives for their current initiatives, expressed satisfaction with the substantive dialogue that had taken place, and instructed the heads of relevant ministries and agencies to approve an Action Plan that provides for the joint development of projects and, in general, the implementation of the agreements reached during the visit.

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