The reforms implemented by the government of Uzbekistan to improve the investment climate should not remain on paper, said David Bohigian, Executive Vice President of the Overseas Private Investment Corporation (OPIC).
One of the important prerequisites for increasing the country's investment attractiveness, he said, is the creation of a more predictable judicial system. Business should also be sure that intellectual rights will be protected, and that forced labor is not part of the economy of Uzbekistan.
"In a world where competition is increasing day by day, reforms should not be only on a paper, they must work. This approach, along with an effective tax policy, will allow us to be confident in the successful development of the business", Bohigian told journalists.
One of the largest investment funds of the world has not yet decided which projects will be on the target to invest money. As stated by Bohigian, the organization will consider "the next few weeks" the proposals of the Uzbek side.
Among the priority sectors, which he named, are mining of mineral resources, energy and infrastructure. The organization is also ready to participate in the development of the education system, the projects of the automotive industry and the processing of agricultural products.
In Uzbekistan OPIC had started working in 1992 and for the next 10 years it provided a support for attracting loans about $ 230 million.
The decision to return to the country's market was made during the visit of President Shavkat Mirziyoyev to the US in May this year.
OPIC - a government structure (USA) with assets of $ 23 billion is helping the US business in investing in emerging markets. The Fund not only invests in projects, but also attracts private capital, providing investors with guarantees and insuring their political risks.
