proposte_investimenti_05_10_09

The proximity of the Navoi Free Industrial Economic Zone (Navoi FIEZ) to the transcontinental intermodal hub at Navoi City Airport is the FIEZ’s most important success element. The hub began operations on January 1, 2009 and is managed by Korean Air, a world leader in air transportation and cargo. Located along the world’s most important crossroads of automobile, railway and aviation routes, the Navoi City Airport connects South East Asia with Central and East Asia, the Middle East, and the European continent. Regular flights connect Navoi City by air routes to Asian and European metropolises such as Singapore, New Delhi, Bangkok, Frankfurt, and Milan. Undoubtedly, the union between the Free Industrial Economic Zone and the international logistics centre at the airport creates exceptional conditions for the establishment of highly remunerative manufacturing facilities and prompt delivery of ready-made products to world markets, through a highly-developed

combination of aviation, automobile and railway transportation systems.

Islam Karimov

President of the Republic of Uzbekistan

ADB is very pleased to co-host the Navoi Investment Forum together with the Government of Uzbekistan and the Islamic Development Bank Group. Uzbekistan has experienced exceptional economic growth over the past decade. In 2008, even amidst a serious downturn in the global economy, Uzbekistan's economy grew by an impressive 9.0%, with the industrial, mining and service sectors as the major contributors to growth. We congratulate the Government of Uzbekistan on underpinning this significant period of expansion with a favorable export environment, prudent fiscal and monetary policies, and impressive reforms in the fiscal and private sectors. Uzbekistan offers investors many comparative advantages. It is rich in natural resources including gold, uranium, copper, natural gas, oil, coal and silver. Costs of production are relatively low, electricity and gas supplies are stable, and the labor force is young, literate, and well trained, thanks to Uzbekistan's advanced education program. Its excellent medical system ensures a healthy population and, at over 27 million people, its total population is the largest in Central Asia.

A vibrant, active private sector is critical to sustain Uzbekistan's record of high growth and to ensure increasing opportunities for its people, especially the poor. As the region's development partner, ADB sees ample investment and public-private partnership opportunities, and stands ready to assist in private sector development through lending windows as well as policy advice. We are committed to working with the Government, the Islamic development financing community and all development partners to harness Uzbekistan's large potential for private sector investment and development.

The establishment of the country's first ever free industrial and economic zone in Navoi is an important step in Uzbekistan's ongoing development. ADB will continue to do its part to ensure the successful implementation of measures to build a robust economy and an environment in which the private sector can thrive. We hope this forum will encourage investors to take advantage of all Uzbekistan has to offer and help build a brighter future for all.

Xiaoyu Zhao

Vice President, Operations 1

Asian Development Bank

Dear Investors, Distinguished Guests, Assalamu Alaikum Warahmatullahi Wabarakatuh It gives me great pleasure to welcome you all to this conference on creation of the first free economic industrial zone in Uzbekistan. IDB Group is delighted to be hosting this conference jointly with the government of Uzbekistan and the Asian Development Bank. Today, global financial and economic crisis is on the agenda. In these volatile times, our main priority is assisting the Government in managing country’s path through this economic challenges and downturn. Together, we are working closely to reduce the impact of the recession on people while putting Uzbekistan in a strong position to take advantage of better economic times when it arrives. Thus, this initiative on creation of the Free Economic Industrial Zone is crucial to achieving the Government's goal of greater prosperity, stability and opportunities for the country.

During these challenging times of global financial crisis, IDB Group supports and welcomes the initiative of the Government of Uzbekistan to respond to such challenge through transforming the local economies and creating new opportunities for the investors. We applaud the government for its initiatives in the creation of the first free economic industrial zone in Navoi. There are numerous benefits and incentives accorded to investors for their investment in Navoi zone and we hope that by the end of this Conference, it would spur great interest from investors to take part in this emerging and highly rewarding market. There are a number of questions and issues to address, and I am confident that this conference will give valuable input and provide an opportunity for a discussion that is both stimulating and challenging. The Navoi initiative is a true testament that Uzbekistan has the supporting industries as well as the human capital to offer and these factors will allow the Navoi industrial zone to be competitive and having productive industries.

I would like to reassure you that IDB Group is committed to assist in creating conducive business environment for the growth of the private sector in Uzbekistan and we fully support the government efforts in the creation of Navoi Free Economic Industrial Zone. The Government's objectives of improved economic performance, a stable and sustainable macroeconomic environment and improved public and private sector performance are more relevant now than ever.

With the conclusion of this investment conference, I am certain that Navoi will be the destination for choice for local and international investors. I look forward to working closely with you to achieve a more prosperous, stable and opportunity-rich Uzbekistan.

I wish you a very productive conference.

Khaled Al Aboodi

General Manager & CEO

Islamic Corporation for the Development of Private Sector

Lying on the ancient trade routes between Asia and Europe, Uzbekistan has been the center of commerce and trade in Central Asia for many centuries. As a leading industrial country that straddles the New Silk Road between Asia and Europe, Uzbekistan's competitive advantage lies on its strategic location as a transit and industrial hub, backed by its large reserves of natural gas, precious metals, raw materials, and a well-educated workforce. Consistent with ADB's Strategy 2020 and its country partnership strategy, and under the Central Asia Regional Economic Cooperation (CAREC) program, the Asian Development Bank is committed to financing regional transport and utility projects in Uzbekistan—especially through public–private partnership—to increase connectivity, trade, and investment. The creation of Navoi-free industrial economic zone by the Government of Uzbekistan where taxes on income, property, and consumption are light and where goods can be stored, packaged, processed, and transformed duty free, will inevitably result in impressive trade growth and economic development for the country and the whole region in the years to come. Juan Miranda

Director General for Central and West Asia Department

Asian Development Bank

Uzbekistan has huge potential to grow and attract foreign investments. The IDB Group is pleased to be a partner in this process. This conference will serve as a platform for potential investors to share their views and experiences on investment in various sectors within free economic zones. Uzbekistan has a strategic geographic location in the heart of Central Asia on the route linking emerging Asian economies with Europe and the Middle East, thus giving Navoiy FIEZ a dual advantage in terms of favorable investment climate and location. Navoiy FIEZ has the potential to become one of the important economic hubs in the region. Dr. Walid Abdelwahab

Director for Infrastructure Department

Islamic Development Bank

The Government of Uzbekistan in cooperation with the Asian Development Bank and the Islamic Corporation for the Development of Private Sector, a member of the Islamic Development Bank Group, will host the Navoi Free Industrial and Economic Zone (FIEZ) Investment Forum on 21 - 23 October 2009 in Tashkent, Uzbekistan. The Forum will bring together a network of global investors to discover a range of unique investment opportunities in Uzbekistan. The Government is inviting partners in high-tech and export-oriented sectors to take advantage of the region's rich resources and unprecedented tax and customs privilages at the Navoi FIEZ. Located on the ancient Great Silk Road, Uzbekistan has been historically a leading trade and cultural centre. Now the leading industrial country in Central Asia, its competitive advantage lies on its strategic location as a hub connecting Europe and Asia, along with large reserves of natural gas, precious metals, raw materials, and a well-educated workforce. To improve the investment climate and attract more foreign direct investment, the Government has established the first ever free industrial and economic zone in Navoi, a leading industrial city at the center of Uzbekistan and the Central Asian region, within immediate vicinity of international transport communication routes.

Foreign companies planning to establish export-oriented production facilities in Navoi FIEZ will be provided with unprecedented privileges, including a de-facto tax-free, duty-free, and favorable currency regime, and simplified visa and employment procedures for 7-15 years, with possible extension of up to 30 years. To learn more about the investment and economic potential of Uzbekistan, including Navoi FIEZ, please visit http://www.gov.uz and http://www.navoi.gov.uz.