Uzbekistan, US to deepen strategic partnership

Business Materials 9 July 2020 15:39 (UTC +04:00)
Uzbekistan, US to deepen strategic partnership

BAKU, Azerbaijan, July 9

By Ilkin Seyfaddini - Trend:

The Government of Uzbekistan and the administration of the US International Development Finance Corporation (DFC) discussed further cooperation in the field of infrastructure development and investment opportunities to support economic growth and stability in Uzbekistan, Trend reports with reference to the country's Ministry of Investments and Foreign Trade.

During the meeting, CEO of DFC Adam Boehler and Deputy Prime Minister for Investment and Foreign Economic Relations Sardor Umurzakov confirmed their intention to deepen the strategic partnership, guided by the Joint Statement adopted by the Presidents of the two countries following the visit of Uzbek President Shavkat Mirziyoyev to the United States in May 2018.

“As Uzbekistan continues to make significant progress, DFC can work with the private sector to accelerate investment in the country. Given the intensification of dialogue between our governments, the U.S. and Uzbekistan are experiencing a new stage of interstate cooperation,” the message said.

The sides confirmed their interest in implementing joint programs to support private entrepreneurship aimed at creating new jobs and promoting the widespread introduction of alternative energy.

In addition, the sides agreed on regular interaction to identify and implement strategic infrastructure projects in Uzbekistan in energy, transport, education and healthcare on the principles of public-private partnership with DFC funds.

Both sides reiterated the importance of investing in women's empowerment to promote the full and free participation of women in the economy.

DFC welcomed Uzbekistan's intention and interest to become part of Blue Dot Network initiative designed to encourage the flow of long-term foreign investments in projects that meet international development standards.

“The two sides reaffirmed mutual desire to maintain peace and stability, as well as efforts aiming at economic reconstruction in Afghanistan, through the expansion of trade and economic, transport and energy ties between Afghanistan and Central Asia,” the ministry said.

The Blue Dot Network is a multi-stakeholder initiative formed by the US, Japan, and Australia to provide assessment and certification of infrastructure development projects worldwide on measures of financial transparency, environmental sustainability, and impact on economic development, with the goal of mobilizing private capital to invest abroad.


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