The capacity of Uzbekistan’s power plants exceeds 12.3 million kilowatts, about half of the generating capacity across the United Energy Systems of Central Asia, Korea Times reported.

Uzbekistan boasts outstanding railway infrastructure. The total length of railways in the country is 7,100 kilometers, of which 4,600 kilometers are general trunk railways.

Uzbekistan’s railways link 18 European and Asian countries. A state joint-stock railway company, Uzbekistan Railways, established in November 1994, provides an excellent freight rail system.

Rail services account for nearly 75% of its foreign trade cargo transportation and 66% of its freight.

In August 2007, Uzbekistan completed the construction of a new 223- kilometer railway line, Tashguzar-Baysun-Kumkurgan, linking the country under a single, integrated railway system, significantly helping to increase passenger and cargo flow to the southern part of the country.

The newly constructed railway line, which now serves a transport corridor, has great international significance as it allows Uzbekistan to expand transit capacity through the use of new routes across Uzbekistan, raising the country’s status as a regional logistic hub.

Also important to Uzbekistan’s transportation are its roads, which can deliver passengers and goods faster across relatively short distances.

Currently, the total length of roads in Uzbekistan is more than 180,000 kilometers and they are responsible for soume 88% of domestic passenger and cargo transport and six% of foreign trade operations.

The basic road development plans, approved in late 2006, have provided a new vision for the country’s road transport system. Major road construction and upgrading projects will be carried out until 2010 in order to increase the share of domestic passenger and freight road transport to 60-70%, and international transit to 45-55%.

The banking and finance industries are fast growing in the country.

Currently, Uzbekistan’s economy is based on its national currency, the soum, has a two-tier banking system, which is made up of the Central Bank and commercial banks.

The soum is the only unlimited legal currency used for payment in Uzbekistan.

As of today, there are 29 commercial banks in the republic _ two state-owned commercial banks, one state-joint-stock bank, 11 private banks, 10 joint-stock commercial banks and five foreign-invested banks (the Royal Bank of ScotlandUzbekistan, UzKDB Bank, Uzprivatbank, Uzbek Turkish Bank and a subsidiary of Saderat Bank). Private and foreign investment into the banking sector accounts for more than 50%.

Eight representatives’ offices of leading international banks operate in Uzbekistan, including Bankgezelshaft Berlin AG, Drezdner Bank AG, Commertz Bank AG, Credit Swiss and JP Morgan-Chase.

Uzbekistan created the most favorable regime in mutual trade with 44 countries, including Japan, the Republic of Korea, China, EU countries and the U.S. and signed international agreements on incentives and mutual protection of investment with 49 countries and the avoidance of double taxation with 51 countries, which can ensure additional protection to foreign investment in Uzbekistani territory.

Uzbekistan is a member of a number of international financial institutions, such as the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development and the Islamic Development Bank.

In the framework of cooperation with these institutions, Uzbekistan has implemented and is implementing joint projects in both the manufacturing sector and the improvement of the social sector and living standards of the population.

During its independence, Uzbekistan has created a favorable investment climate, a system of legal guarantees and incentives for foreign investors and a system of measures aiming to stimulate the activity of enterprises with foreign participation.

The investment legislation of Uzbekistan is one of the most advanced in the legislative system of CIS countries and includes major regulations of international investment rights.

The government of Uzbekistan has provided unprecedented favorable incentives and preferences for registered enterprises with the FIEZ.

Registered businesses will be exempted from land, property, profit, social infrastructure and development taxes, as well as unified tax payments (for small businesses) and compulsory contributions to the Republican Road Fund and the Republic School Fund from seven to 15 years, depending on the volume of invested foreign direct investment.