TASHKENT, Uzbekistan, October 20. Germany has included Uzbekistan, Kazakhstan, and Georgia in the list of 34 selected states with which the government will encourage economic cooperation through preferential investment guarantees, Trend reports.
The German Ministry of Economy and Climate Protection stated that the reform is aimed at reducing the dependence of business on cooperation with China.
"Those destination countries that have good prerequisites for German enterprises but have so far enjoyed their attention to a lesser extent will be encouraged," the ministry explained.
Moreover, the Federal Ministry of Economy and Climate Protection has changed the rules for providing guarantees to German enterprises that issue loans for projects for the development of foreign mineral deposits.
Now the benefits will apply to the processing of raw materials, while earlier benefits were provided only for their extraction.
Meanwhile, the total number of active enterprises with foreign capital in Uzbekistan amounted to 12,750 as of September 1, 2023.
Overall, companies have invested a total of 139.1 trillion Uzbek soums ($11.4 billion) in Uzbekistan in the first six months of 2023. A significant share of these investments, 59 trillion soums ($4.8 billion), or 42.4 percent, account for foreign investment and loans directed to fixed capital.