The presentation of Uzinfoinvest, the Information Support & Foreign Investments Promotion Agency took place at International Business Center in Tashkent.

Representatives of the ministries, organizations, foreign firms and the companies, international financial institutions, mass media and diplomats participated in the event.

Uzinfoinvest was established by the initiative of the President of the Republic of Uzbekistan Islam Karimov with the primary purpose of providing a one-stop informational and all other possible support to foreign investors in Uzbekistan.

Agency is an independent institution (legal entity) under the Ministry of Foreign Economic Relations, Investments and Trade.

The Uzinfoinvest agency is responsible for informational support of foreign investors, provision them with information on prospective projects and investment legislation, including on guarantees and incentives while implementing investment projects in the Republic of Uzbekistan.

Uzbekistan - is a leading industrial country in Central Asia where the volume of economy for the last six years has grown by 45 percent, industrial production – 1.6 times, agricultural production – 1.5 times, the foreign trade turnover – 1.7 times, gold and currency reserves – 3.7 times, growth rate of GDP for last four years is kept at a level of 7 percent, and inflation rate for the last six years has reduced from 26 percent to 2,9 percent.

Main goals if the agency are the enhancing the process of foreign and domestic direct investments, broader disseminations abroad of information about investment opportunities in Uzbekistan and better informing the foreign businesses about advantages of investment environment created in Uzbekistan.

As stated by the Leader of the Republic of Uzbekistan I.A.Karimov at session of the Cabinet of Ministers of the Republic of Uzbekistan, dedicated to the social-economic development of the country in 2006, one of the key priorities of economic development of the country is strengthening in every way the work on attraction foreign investments.

Nowadays the active process of decentralization and privatization of companies in leading economy sectors is going on in order to increase role of private sector in economy and to reduce fundamentally state share in the charter capital of those companies as well as to attract direct investments on a large scale, especially foreign investments for development and modernization of companies. Moreover, there is a possibility to buy unplaced state assets by zero buying costs, conditioned by the investment obligations of investors.

The Program for de-stating and privatization for 2006-2008 was confirmed according to the decision of the President of the Republic of Uzbekistan.

The state guarantees and protects the rights of foreign investors who execute investment activity on the territory of the Republic of Uzbekistan.

The task that the agency will fulfill include increasing awareness and carrying out explanatory works among foreign businesses and mass media about economic and resource potential of Uzbekistan and favorable conditions created in the republic for attraction of foreign investment and information support of the foreign investors, providing them with information about prospective projects, legislation regulating investment activity, including provided incentives and preferences for investment projects implementation in Uzbekistan.

The agency also tends to form and support positive international image of Uzbekistan by carrying out promotional events abroad (exhibitions, forums, presentations, conferences and workshops), publishing special literature, leaflets and creating special informational web-site.

Additional information may be found at the following web-site: http://www.uzinfoinvest.uz/