Tuesday, 18, May, 2021

Agreements on the implementation of US$ 2.2 billion worth of 33 projects with the Russian investments were reached at the first international industrial exhibition INNOPROM held in Tashkent, the press center of the event reported.

More than 1000 Uzbek companies and more than 300 Russian companies attended the exhibition and business program. Over three days, the exhibition was attended by more than 10 thousand visitors from all countries of Central Asia. More than 50 Russian exhibitors confirmed their interest in participating in the exhibition next year.

“The Uzbek-Russian economic partnership ties can be much larger and develop on the basis of complementarity and effective cooperation. There are a lot areas directions for cooperation with Uzbekistan. As never before, the digitalization of economies, the swift introduction of high technologies and innovations, the strengthening of industrial ties and the development of international cooperation are becoming relevant for our countries. We offer a reliable system of state support for industrial development, which provides a number of benefits and advantages, including the issuance of soft loans,” said Deputy PM/Minister of Investments and Foreign Trade Sardor Umurzakov.

“Tashkent as a venue was not chosen by chance. Uzbekistan is step by step expanding opportunities for cooperation with partner countries, - noted the Minister of Industry and Trade of Russia Denis Manturov. “For our part, we fully support the desire for greater openness and are building up cooperation with our Uzbek partners.”

Within the framework of the exhibition, an Uzbek-Russian inter-provinces forum was held: 14 regions of Uzbekistan and 13 regions of Russia took part in the exhibition. The governors agreed to develop inter-provinces contacts, implement joint projects and discuss new ones, including at the site of the annual INNOPROM exhibition in Tashkent.

“Today Uzbekistan is an obvious Central Asian tiger. We are confident in its successful development. Russian investors have an appetite for risk in Uzbekistan, they want to be here. In 2020, Sovcombank has already issued loans to banks and companies of Uzbekistan for US$ 500 million. We plan to bring the volume of loans issued to Uzbek companies to US$ 1 billion by the end of the year,” said Dmitry Gusev, Chairman of the Board of Sovcombank.

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