Uzbekistan, US Discuss Enhancing Cooperation in Many Areas

Chairman of the Supervisory Board of the BMB HOLDING Bekzod Mamatkulov held a meeting with the Director, International Project Finance at US Development Finance Corporation (DFC) Tara Blake and President of Ardmore Capital (USA) Burke McCormack, in Jizzakh.

It was noted that cooperation between the parties has been developing since 2018. Over the past period, investments have been attracted to several projects in Uzbekistan’s economic sector, The Caspian Post reports, citing Uzbek media.

The importance of accelerating the development of relations between the countries, attracting financial resources using international financial systems, and increasing the external market share by increasing the production of highly processed products was emphasized.

At the meeting, which was held in an atmosphere of mutual trust, the parties also discussed ways of establishing cooperation in agricultural technologies, digitalization, innovative technologies, and opportunities to increase production efficiency.

The prospects for attracting American sources of financing, including export credits and trade finance, were also discussed. Ardmore Capital is willing to cooperate with BMB HOLDING to establish permanent relations with investment funds in the United States and Canada.

Macroeconomic stability, legal framework, and logistical capabilities were discussed, and qualified labor and infrastructure availability were analyzed during the negotiations.

It was noted that it is necessary to conduct an objective risk assessment and effectively manage investments in the current economic and political conditions. Successful implementation of these tasks requires not only financing, but also the application of knowledge, experience and advanced technologies.