Investment Terms and Sectors

The officials of the Ministry of Economic Development, Innovation and Exports of Quebec, members of Canadian Business Association (CERBA) have taken part in a Montreal meeting aimed to discuss the current development of Uzbekistan.

The event was framed in a question-answer format. The businesspeople were curious about the terms and sectors for investment. They asked in particular about the normative acts guaranteeing the protection of interests of foreign investors, and the opportunities to launch new enterprises. Chairman of the Board of Directors at the CERBA office in Montreal, Jill Breton, by noting a prolific dialogue with Uzbekistan’s Trade and Industry Chamber, stressed the enhancement of interaction between the association and Uzbek partners – suggestive of the active involvement of CERBA in the organization of Canadian trade-economic missions to the Republic. By expounding on the successful 20-year-long interaction of the SNC-Lavalin company with Uzbekistan in the power sector, its vice president Raymond Marcox has shared his plans to expand the activities, and noted that in the meantime, implementation of projects in the mining and chemical sectors at the Navoi Free Industrial Economic Zone.

Stormy discussion was triggered by the opportunities offered at free economic zones with concrete investment projects outlined in the Program of Structural Transformation, Modernization and Diversification of Manufacturing Industry of the Republic. Special mention went to the goals, tasks and key dimensions of the Program of Privatization of Public Property for 2015-2016. The representatives of business entities expressed willingness to establish cooperation with Uzbek colleagues. Vice President of the company Positron Access Solutions, Samson Claude, pointed out that the enterprise has been developing and producing telecommunications technologies and equipment for 45 years. According to him, he would carefully study priority projects presented during the presentation and will soon send partners his proposals for cooperation.

Manager for strategic development of the world-famous company, Bombardier Recreational Products, Roland Laroshell is ready to establish joint activities in the supply of various types of equipment, including short-haul aircraft. He informed about the active work of the company to expand cooperation with Central Asian nations, and Uzbekistan is one of the priority areas for the organization of fruitful relationship.

Expounding on the enhancement of trade-economic and investment cooperation, Ambassador Extraordinary and Plenipotentiary of Canada to Uzbekistan John Ronald Kerr said: “We are undertaking extensive joint efforts to build up trade and economic relations. These are the areas that will be the focus of my diplomatic activities aimed at further developing and deepening of bilateral cooperation. An important role in the development of Canadian-Uzbek cooperation is played by bilateral visits of delegations of business circles. During the last trip, emphasis was placed on expanding partnerships in areas such as oil and gas industry, agriculture, production of chemical and petrochemical products. We intend to continue these endeavors.”

Source: Jahonnews.uz