National Bank of Uzbekistan for Foreign Economic Activities (NBU) hosted a meeting with delegations of international investments companies and presented trends of development of economy and banking-finance sector in Uzbekistan, investment climate, privatization processes and other issues.

Representatives of Renaissance Capital, Farallon Capital, Hansa Investments Funds and others participated in the work of the meeting. The Uzbek side was represented by staff of NBU, Asaka Bank, State Property Committee and others.

The Uzbek side presented with perspectives of development of denationalization and liberalization of economy of Uzbekistan, implementation of privatization programme, privatization processes of Asaka Bank and NBU, as well as large objects in Uzbekistan.

Roland Nash, head of Research Department of Renaissance Capital, said investors are interested to invest to Central Asia, including in Uzbekistan. He said the Uzbek economy is developing with high trends.

He said that over 20 representatives of 15 large investment companies, which manage assets for US$50 billion, arrived in Uzbekistan to reveal opportunities and potentials of cooperation with the country. It was very interesting to familiarize with privatization process in Uzbekistan, in particular privatization of Asaka Bank and NBU.

Mr. Nash said investors need to acquaint with investment climate before investment in Uzbekistan and Uzbekistan is one of the most interesting states in the region. He said the financial system of the country is developing fast and this sector is the most trusted among investors.

Renaissance Capital started to invest in Uzbekistan, he said. He added that investment companies, representatives of which arrive in Uzbekistan, will also begin to invest into the country.