OREANDA-NEWS. June 04, 2008. The presentation was organized by the Embassy of Uzbekistan jointly with the Uzinfoinvest Agency and the East Committee for the German economy (ECGE) in Berlin, reported the press-centre of Uzinfoinvest Agency.

More than 70 representatives of German companies, banks, economic associations, the federal ministries of economy and technology, environment, different societies, business support and media attended the event.

During the forum, it was emphasized that the measures to reform the economy and create a favorable investment climate enabled Uzbekistan to become a dynamic industrial center of the region. This, in the view of participants, gives foreign investors the opportunity to carry out mutually beneficial projects in such fields as engineering, petrochemical, pharmaceutical, light industry, electrical and food industries, as well as in the areas of fruit-and-vegetables processing and production of construction materials.

Particular attention was drawn to the importance of this presentation, especially given the availability of specific investment projects from the Uzbek delegation on various areas of cooperation.

Speaking at the event, Managing Director of ECGE O. Vik noted that German businessmen are interested in expanding of business relations with Uzbekistan. He believes, that visit of delegation headed by German Federal Minister of Economics and Technology M. Gloss to Uzbekistan in February 2008, which also included a number of representatives of German business circles, is an evidence of it.

According to O. Vik, advantageous geographical location, rich resource potential and stable economic development of Uzbekistan, as well as policy of modernization and diversification of industrial production offers German firms and companies new opportunities for profitable business.

The Government of Germany attaches priority attention to cooperation with Uzbekistan, including in the framework of the EU Strategy for Central Asia - he said. -- The positive trends which have prevailed in recent years in trade and economic relations between our countries shoul be noted. We have successfully implemented a number of bilateral projects, particularly in the field of processing industry, where you can highlight the activities of the company "METRO AG". The Government of Germany will continue to strongly support the desire of German companies to establish long-term cooperation with Uzbekistan.

During the presentation, the German businessmen were submitted reports on the investment climate and investment opportunities of Uzbekistan, including information on the framework conditions of activities of foreign investors and privileges and preferences provided by the Uzbek government.

There were also presentations on the topic: "The prospects for investment cooperation in the chemical industry of the Republic of Uzbekistan", "Opportunities for the participation of foreign investors in projects in the pharmaceutical industry of Uzbekistan", "Priority projects in the production of construction materials in the Republic of Uzbekistan" and "Opportunities for the introduction and implementation of energy-saving technologies projects under the "Clean Development Mechanism" (CDM) in Uzbekistan ".

In the ensuing discussions, representatives of business circles of Germany were interested in networking opportunities with Uzbek partners and implementation of mutually beneficial business in the republic, including by organizing joint production of industrial products for export.

We are engaged in projects under the CDM Kyoto Protocol, which allows receive from the sale of certificates to reduce emissions of carbon dioxide into the atmosphere additional financial and investment income - said Head of Department for International Cooperation of the German Energy Agency "DENA" Peter Opitts.

It is first of all projects aimed at improving energy efficiency and expansion of its production from alternative sources, which should help to reduce emissions of harmful gases. I think Uzbekistan in this field has great potential. We already have the first positive experience in that direction associated with your country. Last year, under the Investment Forum in the city of Leipzig, we have already submitted projects in Uzbekistan.

We see tremendous opportunities, both in energy, and processing industry, utilities and agriculture. In particular, this relates to expanding the use of alternative sources of energy such as biogas. Today's event will undoubtedly be an important impetus for the development of bilateral Uzbek-German cooperation, in particular through the implementation of CDM projects.

According to my experience, I know that very favourable investment environment created for foreign investors in Uzbekistan - said the general director of the German company "Pecon glass GmbH" Philippe Gunther. -- In 2005, our company successfully implemented in Uzbekistan its own investment project, which resulted in the activities of the JV "Farm Glass". We know and appreciate the fact that in the republic from year to year, improved legal framework for foreign investors, which clearly defines the obligations and rights of the investor. Notably, the country is carried out much work on the development of domestic production to reduce the volume of imports from abroad. These efforts are creating new jobs and improve the welfare of the Uzbek people.

Following the visit of Uzbek delegation to Germany, the parties reached agreement on a Memorandum of Cooperation between the National Authority for CDM under the Ministry of Economy of the Republic of Uzbekistan and the German Energy Agency "DENA", as well as holding an investment forum on joint projects. In addition, the State Joint-Stock Company "Uzfarmsanoat" (pharmaceutical industry) and the company "Pecon Glass GmbH" have agreed to expand the production capacity of the JV "Farm Glass" by delivery, installation and introduction of equipment for the manufacture of glassware. The total value of the contribution of German companies in this project will be approximately 15 million Euros.