IFC to help Uzbekistan attract foreign investors

Finance Materials 4 March 2020 14:35 (UTC +04:00)
IFC to help Uzbekistan attract foreign investors

BAKU, Azerbaijan, Mar. 4

By Ilkin Seyfaddini – Trend:

International Finance Corporation (IFC) will assist Uzbekistan in attracting foreign investors to modernize and manage Uzbekistan's airports, Trend reports citing the Ministry of Transport of Uzbekistan.

The Ministry of Transport of Uzbekistan hosted a meeting with a delegation of IFC headed by Regional Director for Europe and Central Asia Wiebke Schloemer.

At the meeting, the issues of organizing IFC consultations on attracting foreign investors to modernize and manage Uzbekistan's airports were discussed.

As reported, Schloemer was informed about large-scale reforms in the field of civil aviation in Uzbekistan in recent years and plans for 2020. The sides also exchanged views on improving the work of airports and the quality of passenger service.

The sides discussed issues of cooperation with IFC in implementation of investment projects, which are planned to be implemented on the basis of public-private partnership in Uzbekistan.

Earlier, it was reported that it is planned to reconstruct Samarkand International Airport by the end of 2020.

Reconstruction of Samarkand International Airport will increase the number of serviced flights seven times - from 40 flights per week to 40 flights per day.

Within the reconstruction, it is planned to build a new runway, taxiways and places for aircraft parking. The airport will be able to accept all types of aircraft without restrictions.

Furthermore, the reconstruction will lead to creation of new jobs - the number of employees will increase from 630 to almost 1000 people.

Following the meeting, the sides agreed to implement a set of measures to reduce the cost of servicing foreign airlines' aircraft at domestic airports by 30-50 percent as well as optimize rates and tariffs for passenger and cargo transportation.


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