On April 8, a videoconference was held with the top executives of 30 major German companies and banks - ThyssenKrupp, Metro, MAN, Takraf, Klaas, Papenburg, Falk Porsche Technik, Knauf, Deutsche Bank, Commerzbank, Landesbank and others.
The Minister of Investment and Foreign Trade Sardor Umurzakov attended the videoconference on behalf of the Government of Uzbekistan, the German companies were represented by the Chairman of the Board of Mangold Consulting Klaus Mangold.
According to the Investment Ministry, during the negotiations, the German side was briefed about measures taken in Uzbekistan to mitigate the negative impact of the coronavirus pandemic and the global economic crisis, of the targeted support of initiators of investment projects and exporters.
German companies reportedly expressed interest in continuing and developing their business in Uzbekistan despite the pandemic. Financial cooperation is also actively conducted with German banks, such as Commerzbank, Landesbank - the bulk of the funding is going to the implementation of private projects in the textile, agriculture and the building materials sectors.
An agreement was reached on advancing disbursement of previously planned 1.1 billion euros worth German direct investments for 2020 in the Uzbek economy.
Also an agreement was reached on developing a mechanism for close cooperation with German businesses implementing investment projects in Uzbekistan, which implies targeted work with each investor with the involvement of responsible government agencies under the coordination of the Ministry of Investment and Foreign Trade.
