Tashkent, Uzbekistan (UzDaily.com) -- On 22 July 2019, an investment forum was organized in the business center of Manhattan in New York on the theme “Capital Market Opportunities of Uzbekistan”.

According to the Embassy of Uzbekistan in the USA, representatives of leading consulting and financial companies, hedge funds, investment banks, strategic and portfolio investors, such as Goldman Sachs, Citi, J.P. Morgan Chase&Co., Oppenheimer, Morgan Stanley, and others attended the event.

Uzbekistan was represented by state-owned companies and banks, including Uzpromstroybank, Infinbank, UZSE, Uzavtosanoat, Uzkimyosanoat, Asaka Bank, UZEX, as well as large private businesses structures.

The forum was opened with a welcoming speech by the Minister of Foreign Affairs Abdulaziz Kamilov and the First Deputy Chairman of the Senate of Oliy Majlis Sodik Safoev.

The event participants were informed in detail about the progress in implementing the Development Strategy, the state and prospects of the Uzbek-American relations, measures taken in the country in the areas of supporting foreign investments, developing the banking financial sector, and interacting with foreign partners in this direction.

Director of the Capital Market Development Agency Atabek Nazirov made a presentation on the investment climate, the state of development of the capital market in Uzbekistan, plans of state-owned companies for placing and selling shares in global securities markets, as well as partnership opportunities with leading US financial institutions and investors in this direction.

A report on the growing interest of American companies in the republic was made by the chairman of the US-Uzbek Chamber of Commerce (AUTP), Carolyn Lamm. She stressed that in recent years, the republic has managed to achieve real progress in all sectors of the country’s economy. “Investor support in Uzbekistan today is at the highest level,” the head of the AUTP noted.

The main factor that today stimulates Uzbek-American business contacts is the presence of “mutual trust”. As the head of the AUTP noted, since 2017, members of the chamber of commerce have signed contracts with the Government of Uzbekistan and private Uzbek companies for more than US$7 billion.

“The implementation of the agreements reached following the results of the business forums in New York and Tashkent in May of this year will create additional jobs, strengthen the investment attractiveness of Uzbekistan and increase the country’s infrastructure potential,” said Carolyn Lamm.

In this part of the event, Marius Deng, Senior Executive Director of Franklin Templeton Investments Global Investment Holding, David Grayson, Chief Executive Officer of Auerbach Grayson New York Investment Company, Luis Skayner, Head of Institutional Investment Department of Citi Bank Martinez spoke at the event, as well as managers of the Uzbek investment banks Avesta Group and Silk Capital.

The speakers presented a brief information on the activities of their companies, familiarized the forum participants with their vision of the situation in the banking and financial sector of the republic, the legislative framework in the area of investor protection in Uzbekistan, and the projects implemented by these structures in the country.

The main message voiced during the panel discussions was a call to the US business community that the most favorable environment for investment from abroad, primarily in the capital market, was formed in Uzbekistan today, and US companies “should take advantage of this moment.”

Subsequently, a session of bilateral meetings was held, during which representatives of Uzbek companies held talks and established partnerships with potential investors, reached agreements on the withdrawal of domestic companies’ shares on international stock exchanges, and prospects for opening branches of world-renowned banks in Uzbekistan.