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Uzbekistan proposed creating a special economic zone for American companies

The government of Uzbekistan proposes to create a separate special economic zone in the country for American companies. This was stated by the Minister of Investment, Industry and Trade Laziz Kudratov at the US-Uzbekistan business forum within the framework of the Tashkent International Investment Forum.

“This zone should become a practical base for American investment, technology and production in Central Asia. But it shouldn`t just be an area on the map. This should be a full-fledged business environment in which American companies will feel comfortable,” said Laziz Kudratov.

“We intend to create conditions as close as possible to those to which American companies are accustomed at home. An environment with clear rules, high-quality infrastructure, reliable provision of utilities, simple administrative procedures, logistics accessibility and direct support from the state,” said the head of the MIPT.

The minister invited American and Uzbek companies to participate in the development of the initiative, proposing industries and projects to be located in the future zone. According to him, the authorities expect to attract the first investors already at the stage of its formation.

Laziz Kudratov also said that the forum would announce the launch of a joint investment platform for financing Uzbek-American projects. Documents on its creationsignedback in February.

It is expected that funds will be provided, in particular, by American financial institutions and Uzbek foundations. It is planned to launch a separate website for the platform with criteria and procedures for selecting projects.

Laziz Kudratov also named four areas in which Tashkent sees the greatest potential for expanding cooperation with the United States: critical minerals, fertilizer production, pharmaceuticals and textiles.

“Uzbekistan can become a strategic investment partner of the United States. Today, global supply chains are changing. Companies and countries are looking for reliable partners and stable production sites. They need to ensure access to raw materials and key industrial resources. And Uzbekistan can become such a partner for the United States,” the minister emphasized.

In the fieldcritical mineralshe said, the parties have already begun cooperation with a number of American companies - not only on production projects, but also on processing and the formation of supply chains. The competitive advantage, the minister noted, will be the energy potential of Uzbekistan, the availability of raw materials and qualified personnel.

"INproduction sector fertilizersUzbekistan has enormous potential for both production and export. Given the growing global demand for fertilizers, we believe that we can build strong partnerships with American companies and create modern production facilities for regional and global markets,” said Laziz Kudratov.

INpharmaceutical industry,he continued, Uzbekistan is negotiating with American companies about contract manufacturing using existing facilities in the republic capable of producing medicines in accordance with strict international standards.

“And, of course, the textile industry. We can move from supplying raw materials to producing finished products, developing designs, brands, technical textiles and exports,” the minister said.

He focused on the fact that the largest delegation of American business in the history of bilateral relations arrived at the investment forum this year. According to him, 193 representatives of companies from the United States participate in TMIF events.

Chairman of the American-Uzbek Chamber of Commerce Caroline Lamm said that the interest of American companies in Uzbekistan continues to grow thanks to reforms in the republic and the strengthening of bilateral relations.

“Our current and future members exploring investment opportunities in Uzbekistan are literally amazed by the dynamics of the ongoing reforms in the country,” she said.

According to Lamm, while in 1993 the chamber included only a few companies, today its members include more than 50 large American corporations.

The head of the Chamber of Commerce also said that the volume of new American investments in Uzbekistan last year exceeded $1 billion, and this year has already exceeded $2 billion.

The US-Uzbekistan business forum takes place on the eve of the official opening of the Tashkent International Investment Forum, which this year attracted a record number of participants from more than 100 countries.



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