Uzbekistan continues its cooperation with German companies

Business Materials 10 April 2020 11:35 (UTC +04:00)
Uzbekistan continues its cooperation with German companies

BAKU, Azerbaijan, Apr. 10

By Ilkin Seyfaddini – Trend:

The Government of Uzbekistan held a videoconference with the administration of 30 leading companies and banks of Germany, Trend reports citing the Ministry of Investment and Foreign Trade of Uzbekistan.

Representatives of such companies as ThyssenKrupp, Metro, MAN, Takraf, Klaas, Papenburg, Falk Porsche Technik, Knauf, Deutsche Bank, Commerzbank, Landesbank and others participated in the videoconference.

On behalf of the Government of Uzbekistan, the videoconference was attended by Deputy Prime Minister and Minister of Investment and Foreign Trade Sardor Umurzakov; the German side was headed by Chairman of the Board of Mangold Consulting Klaus Mangold.

During the talks, the German side was informed about the measures taken in the country to mitigate the negative impact of the Coronavirus pandemic and the global economic crisis, as well as targeted support for the initiators of investment projects and exporters.

German entrepreneurs expressed interest in continuing and developing their business in Uzbekistan despite the adverse external factors caused by the pandemic. Financial cooperation with German banks, such as Commerzbank and Landesbank, is being actively pursued, with the bulk of funding going to private projects in the textile, agricultural and construction materials sectors.

An agreement has been reached on the mandatory development of German direct investments in Uzbekistan's economy in the amount of 1.1 billion euros, earlier planned for 2020.

As a result of the event, an agreement has been reached to elaborate a mechanism of close interaction with German entrepreneurs who implement investment projects in Uzbekistan.


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