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15 Apr  2019 1610

U.S. investment funds consider entering Uzbekistan capital market

 On 12 April 2019, the Embassy of Uzbekistan in the United States organized an extended meeting with representatives of leading U.S. corporations, funds and banks from Wall Street, Uzbekistan MFA reports.

The event was attended by over 50 people representing more than 30 major U.S. companies, including such investment funds as Lazard Asset Management, GoldenTree Asset Management, Morgan Stanley Investment Management, Eaton Vance Corp., Callaway Capital Management, VanEck, HIMCO, Jyske Capital, Oppenheimer, TIAA and others, managing assets in excess of 100 billion USD.

Representatives of the U.S. Department of State, Department of the Treasury, USAID, OPIC, as well as experts from the Heritage Foundation, the Central Asia-Caucasus Institute, The Diplomat and Washington Diplomat publications were also among the guests.

In his welcoming speech, the Ambassador of Uzbekistan Javlan Vakhabov outlined the current trends in economic development of Uzbekistan, priority areas for improving the fiscal policy, banking-monetary, customs and tax spheres, as well as highlighted the benefits and preferences created for foreign investors.

Deputy Minister of Finance of Uzbekistan Golib Kholjigitov and Deputy Chairman of the Central Bank Ilkhom Norkulov, who arrived in Washington to attend the spring session of the IMF, gave detailed answers to participants’ questions regarding the GDP growth, inflation, the volume of foreign direct investment and borrowed loans, privatization of state-owned enterprises, plans of public and private companies of the country for further placement of Eurobonds.

Following the negotiations, an agreement was reached on organizing the visit of representatives of several investment corporations from Wall Street to Uzbekistan in the near future to study the local market and subsequent financial investments.

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