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Uzbekistan’s investment potential is presented for leading Austrian companies

On May 7, 2019, the Embassy of the Republic of Uzbekistan in Austria jointly with Raiffeisen Bank International (RBI) held a presentation of the economic and investment potential of Uzbekistan for the major customers of this financial institution, in Vienna.

The event was attended by representatives of more than 50 leading customer companies of Raiffeisen Bank, as well as the Ministry of Finance, the Austrian Control Bank and the Austrian Economic Chambers.

Active development of cooperation between Raiffeisen Bank and Uzbekistan banking institutions observed since the end of 2016 was emphasized. In particular, in the last 6 months, 2 major agreements were signed on opening RBI credit lines for the National Bank for Foreign Economic Activity of the Republic of Uzbekistan in the amount of 300 million USD and Uzsanoatqurilishbank JSCB in the amount of 70 million USD. In addition, today about 11% of all operations of Uzbekistan commercial banks with foreign partners are carried out through Raiffeisen Bank.

Participants of the event were thoroughly acquainted with the ongoing large-scale and systemic economic reforms aimed at creating a favorable business environment and an attractive investment climate.

The decisions of the leadership of Uzbekistan on liberalization of the foreign exchange market and export-import operations, as well as the free economic and small industrial zones created in the country with attractive working conditions for foreign investors aroused great interest among the participants. In addition, detailed information was provided on the investment and export potential of Surkhandarya and Namangan regions, to which the Embassy of Uzbekistan in Austria is assigned.

Following the event, an agreement was reached on arranging in the near future of visits to Uzbekistan by heads of a number of companies, in particular of the largest agricultural concern in Central Europe AGRANA (in May), Austria's leading medical corporation AME International GmbH (in June), and the largest manufacturer of various wood products JAFF AG (in June).

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