12 April 2019

The countries of the Middle East are ready to invest annually in Uzbekistan up to $ 10 billion

Speaking at the Bank-Financial Forum “Bank Expo-2019” held in Tashkent from 11 to 13 April, the representative of the Islamic Development Bank Hassan Husanov said that the countries of the Middle East are ready to invest $ 10 billion annually in Uzbekistan if the relevant law is adopted.

“There is untapped potential in attracting foreign direct investment. One of these potentials is Islamic finance, which is currently not represented in Uzbekistan. The attraction of Islamic investment from the countries of the Middle East is hampered by the absence of separate relevant legislation on Islamic finance in the Republic of Uzbekistan. According to our calculations, this would attract about 10 billion dollars of additional investment to Uzbekistan annually. There are companies that are ready to finance the Republic of Uzbekistan, the banking sector and the private sector, ”said IDB Chairman Hasan Husanov.