Tashkent, Uzbekistan (UzDaily.com) - On 14-15 January, a delegation of Uzbekistan led by First Deputy Minister of Finance Timur Ishmetov took part in the Central and Eastern European forum in Vienna, the capital of Austria.

The delegation also included representatives of domestic commercial banks, including the NBU, Uzpromstroybank, Ipoteka Bank, Asaka Bank, Ipak Yuli Bank, Hamkorbank and Asia Alliance Bank.

The forum brought together more than 450 senior leaders and representatives of the sphere from the states of the region, as well as international financial institutions. The event was opened by the First Vice President of the European Bank for Reconstruction and Development, Jürgen Rigterink.

The presentation of the economic and financial potential of our country under the name “A view from Uzbekistan” was held at the plenary session. First Deputy Minister of Finance Timur Ishmetov spoke about the strategic geographical location, rich natural resources and mainly young people of the republic, rising macroeconomic indicators and commitment to transformations with support from international partners.

- Against the background of currency liberalization and other reforms, GDP growth continues. The level of public debt and budget deficit at the end of 2019 remains at an acceptable level. The country has sufficient gold and currency reserves. Steps are being taken to improve the business climate and monetary policy, transition to market mechanisms and strengthen the banking sector. To ensure institutional modernization, over the last year alone, ministries of energy and transport, agencies for the management of state assets, development of the capital market, insurance market, entrepreneurship and small business, as well as public service have been created. Measures were taken to further denationalize a number of industries with the reorganization of Uzbekistan Havo Yollari, Uzbekneftegaz, Uzbekenergo, Uzkimyosanoat and the three largest metallurgical plants. Many unprofitable or unprofitable state unitary enterprises were privatized, said Timur Ishmetov.

The program also included a separate session on Uzbekistan. It has become a platform for acquaintance and establishing cooperation with more than 70 international financial organizations and investors. Representatives of commercial banks of the republic, which are currently in the process of transformation, made their presentations. Delegates were told, in particular, that in November last year, Uzpromstroybank issued its first international bonds on the London Stock Exchange and thereby became a participant in the global capital market. Its Eurobonds worth US$300 million were highly appreciated by investors.

During the forum, thematic sessions were held on the impact of geopolitics on trade and market quotes, investment potential, bonds, corporate finance, banking and monetary policy, sustainable economic development and future prospects.

The heads of the ministries of finance of several states, experts of the International Monetary Fund, the International Finance Corporation, the European Investment Bank and other structures presented the experience gained and examined the problems of the sphere, including the macroeconomic situation in Central and Eastern Europe and the CIS. Presentations and seminars took place in various areas.