State Committee for Tourism Development strengthens cooperation with the EBRD
On October 11, 2018, a meeting with representatives of the European Bank for Reconstruction and Development in the Republic of Uzbekistan was held at the State Committee for Tourism Development of the Republic of Uzbekistan.
Representatives of the State Committee for Tourism Development informed the meeting participants about the ongoing reforms in tourism industry, the growing investment potential of the country and the existing benefits and preferences for private business. Guests were also invited to take part in the upcoming Investment Forum, which will be held on November 19-21, in Tashkent. It is important to note that more than 100 projects will be presented at this forum.
Jean-Marc Peterschmitt, Managing Director of the Industry, Commerce and Agribusiness Department, confirmed the interest in cooperation and participation in investment projects, as well as support for small and medium business. The EBRD is ready to consider projects involving the privatization of facilities.
As reported by the Press Service of the State Committee of Tourism Development, representatives of the Committee proposed to consider the possibility of opening a separate credit line with a minimum interest rate for the long term. This is due to the fact that the hotel business requires a long payback period. Therefore, foreign investors and local entrepreneurs are interested in building hotels and need support and provision of loans with the lowest possible interest and the longest loan repayment period, which will take into account the possible influence of the seasonality factor.