President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with representatives of Japanese business circles, in Tokyo.

President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with representatives of Japanese business circles, in Tokyo.

It was attended by heads of leading corporations, companies, financial institutions such as JETRO, JICA, JABIC, NEDO, JOGMEC, Mitsubishi, Itochu, Sumitomo, Marubeni, Isuzu.

Information was provided on the results of Japan – Uzbekistan business forum held on December 16, in Tokyo.

President of Uzbekistan urged companies and financial institutions of Japan to actively participate in the implementation of investment projects in Uzbekistan.

“Japan is our strategic partner. Together we did a great job on modernizing the sectors of the economy and infrastructure in Uzbekistan. Our visit aims at opening a new page in the history of bilateral relations. There are still many untapped opportunities, new projects in trade, energy, the chemical industry, transport, tourism, fruit and vegetable processing and services”, said Shavkat Mirziyoyev.

Great opportunities have been created in the country for foreign investors. Necessary normative-legal acts have been adopted to stimulate and protect their activities. Various obstacles to business development have been eliminated, export-import operation procedures have been simplified, and restrictions on repatriation of profits of foreign investors have been lifted. Measures are being taken to strengthen and ensure the independence of the judiciary.

As a result of transformations to improve the business environment in the Doing Business 2020 ranking of the World Bank, Uzbekistan took 69th place, having risen by 100 positions in recent years, and ranked among the top 20 reforming states. For the first time, the country rose to the eighth place in the world in the convenience of opening new enterprises.

The President noted that fundamental economic reforms are underway in Uzbekistan, which have become irreversible.

Japanese entrepreneurs praised the reforms and transformations being carried out in Uzbekistan, and emphasized that liberalization of the currency and tax systems, simplification of visa procedures created additional opportunities for doing successful business in Uzbekistan. They expressed confidence that the official visit of the President of Uzbekistan will give new content to mutually beneficial ties between the business circles of the two countries and will become an impetus for more active participation of Japanese business, including small and medium, in the implementation of investment projects in the country.

Issues of further development of partnership between companies and financial organizations of the two countries, prospects for implementing various programs and projects, expanding the supply of products and services were discussed at the meeting.