Tashkent, Uzbekistan (UzDaily.com) -- On 7-8 August 2019, the International Investment Forum was held in Ferghana, which was held to familiarize representatives of the foreign business community with the economic potential and investment opportunities of the region.

The event was co-organized by the Khokimiyat of the Ferghana Region, the Ministry of Foreign Affairs and the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan.

The forum was attended by Ambassadors of Uzbekistan in Oman and Kyrgyzstan, over 150 foreign businessmen from 30 countries, the diplomatic corps in Uzbekistan, as well as representatives of leading foreign media accredited to the Ministry of Foreign Affairs.

After the official opening, 3 breakout sessions were held on the strategy of successively building up the industrial potential of Ferghana Region, attracting advanced technologies and foreign investment in the region, improving the living standards of the population, the process of urbanization in the region, as well as further improving the reforms launched in the areas of health, education, culture and sports.

In the second half of 7 August, a presentation of new investment projects, unused and ready for operation, industrial buildings in the region was held. The forum participants also visited the exhibition of local manufacturers’ products “Made in Ferghana”, where export-oriented products of “Fargonaazot”, “UzSungwoo”, “Narimteks”, “Germes Ideal Sifat” and “Vostok Composite” were delivered.

As a result of the business forum, memorandums were signed with a number of companies totaling US$358 million. Of these, US$45 million accounted for export contracts. One of the partners is the Egyptian company KAPOFO Agri Projects, whose project is designed to develop the fishing area for an initial amount of US$2 million with the creation of 30 to 50 new jobs. So, the day before the forum, an Uzbek-Turkish project worth US$200,000 was implemented in Ferghana to create a new textile factory, which provided the opening of 200 jobs.

Participants also visited local manufacturing enterprises to familiarize themselves with their activities, where there were presentations of promising investment projects offered to investors of buildings and structures, free land. An information tour was organized on the main attractions of the Ferghana region, where traditional folk crafts were also presented.

Following the forum, a press conference of Ferghana region’s officials was held for representatives of local and foreign media. The results of the forum showed that meetings in a similar format, held directly in the regions of the republic, most effectively contribute to the establishment of investment cooperation between local and foreign entrepreneurs.