Gazprombank aims to develop long-term and multilateral relations with Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- On 25 February, Minister of Investments and Foreign Trade of the Republic of Uzbekistan Sardor Umurzakov met with the Deputy Chairman of the Board of Gazprombank, Alexey Matveyev.

The business mission of one of the largest Russian banks arrived in Uzbekistan to discuss and consider new promising areas of investment and financial cooperation.

Welcoming the guests, Sardor Umurzakov stressed that cooperation with Gazprombank is now seen as promising and comprehensive, which is especially important in light of the growth of Uzbekistan’s involvement in the global financial environment. An indicator of this can be the issue and placement of Eurobonds of Uzbekistan on the London Stock Exchange in order to create a reliable credit benchmark for foreign investors, financial corporations and credit agencies.

The delegation of Gazprombank acquainted with the designated goals and objectives of the newly created Ministry of Investment and Foreign Trade, with the internal processes of interaction of the department at the level of regions, industries and areas of foreign cooperation, as well as with the functions of specialized subordinate structures - Agencies that will carry out their activities the ministry.

During the negotiations, Aleksey Matveev underlined that the Direct Investment Fund, which is planned to be created by the Decree of the President of the Republic of Uzbekistan Shavkat Mirziyoyev under the new ministry, could raise the design activity of Gazprombank in Uzbekistan, because the bank has a successful and productive experience of cooperation in a similar format with the Russian Direct Investment Fund (RDIF).

“With this visit, we would like to note that we are aimed at developing long-term and multilateral relations with Uzbekistan,” shared Alexey Matveyev, “for example, the bank is exploring the potential of the republic and has already developed an investment profile of the country by region.”

Within the framework of cooperation with the Ministry, it was proposed to consider the possibility of creating a joint company for the provision of consulting services in the preparation of investment projects (development of business plans, marketing research, feasibility studies and other areas).

The experience of Gazprombank can also be used to establish cooperation with the Ministry to create a sustainable system of pre-export financing, where export is carried out in favor of counterparties on acceptable payment risks for the bank.

At the end of the meeting, the Minister of Investment and Foreign Trade noted the important contribution of Gazprombank to the development and strengthening of bilateral relations between Uzbekistan and the Russian Federation. The reliable reputation of the bank allows implementing large joint projects, exchanging experience and knowledge, as evidenced by the visiting seminars held by Russian colleagues in the republic to improve the skills of banking workers.

Following the meeting, a wide range of mutually beneficial cooperation was identified and priority areas for further joint activities were discussed. The parties have appointed responsible officials for constant communication and working out all questions on future interaction.