Monday, November 2, 2009

American Foreign Investment, A Good Idea . . .

In October, the American-Uzbekistan Chamber of Commerce (AUCC), together with the Ministry of Foreign Economic relations of the Republic of Uzbekistan, hosted the U.S.-Uzbekistan Investment Summit 2009 (for the first time in NY). The one day conference was held at the Harvard Club and culminated with a dinner at the Four Seasons. Investors from throughout NY joined together with the Minister for Foreign Economic Relations, Investment and Trade from Uzbekistan to discuss the fertile business climate in Uzbekistan.

According to Elyor Ganiev, Minister for Foreign Economic Relations, Investment and Trade, "Uzbekistan is one of the leading industrial nations in Central Asia and its economy has huge investment potential. Despite the global economic recession the Uzbek economy remains strong across a variety of sectors including agricultural production and machinery, auto manufacturing, biotechnology, construction materials, information and communications technology, mining, oil and natural gas production, pharmaceuticals, renewable energy, and textiles."

The conference, which was sponsored by ExecutiveAction, LLC, Caterpillar, Inc., NUKEM, Inc., White & Case LLP, and Zeromax GmbH was an excellent opportunity for businesses to see the wonderful investment possibility and the strategic location of Uzbekistan in the world.