Event Report: Uzbekistan Business and Investment Seminar in Nagoya

UNIDO ITPO Tokyo, in cooperation with the Embassy of the Republic of Uzbekistan and the Friendship Association of Nagoya and Uzbekistan, held the “Uzbekistan Business and Investment Seminar” in Nagoya on the occasion of inviting Mr. Tengiz Asanov, the Deputy Head of the Investment Climate and Ratings Department, Ministry of Investment, Industry and Trade of the Republic of Uzbekistan. The seminar was attended by 62 persons interested in business or investment opportunities in Uzbekistan.

At the beginning of the seminar, Mr. Hiroyuki Ito, the Honorary Consul of Uzbekistan in Nagoya, and Mr. Bakhodir Saidov, the Trade and Economic Counsellor of the Embassy of the Republic of Uzbekistan in Japan, gave a remark mentioning the long-lasting relationship and friendship between Uzbekistan and Japan, and wished for further business and investment opportunities to develop between the two countries. Mr. Ito also mentioned the “Investment Guide Uzbekistan” (attached at the end of this report) as a useful resource to understand current investment policies and reforms in Uzbekistan and urged participating companies to actively utilize the guide when considering opportunities in the country.

In his keynote speech, Mr. Asanov, gave a presentation introducing statistics and indicators that highlight the economic potential of Uzbekistan, and how foreign trade turnover in Uzbekistan has nearly doubled from 26.6 billion USD to 50.0 billion USD, as a result of recent governmental reforms over the last 7 years. He also mentioned that FDI inflows have been constantly increasing in the country, increasing from 3,349 million USD in 2017 to 9,989 million USD in 2022. Mr. Asanov also introduced 2,140 industrial projects in 15 key-sectors, and encouraged Japanese investors and companies to consider these potential investment opportunities from Japan to Uzbekistan.

Following Mr. Asanov’s presentation, two Japanese companies talked about their business in Uzbekistan. Mr. Chinori Tokita of Masui Co., Ltd. introduced their cotton business, mentioning how Uzbekistan developed international competitiveness through governmental reforms. Mr. Motoyoshi Baba of Meinan Co., Ltd. introduced their training program to transfer knowledge and technology on the manufacturing of screws from Japan to Uzbekistan.

The seminar was followed by an introduction to tourism in Uzbekistan by Mr. Fakhriddin Ergashev, the Second Secretary of the Embassy of the Republic of Uzbekistan, highlighting the country’s rich culture and history.

Upon the successful conclusion of the seminar, the panelists and participants engaged in lively exchanges in the networking session, to discuss potential business and investment opportunities and expand networks between the two countries, while enjoying Uzbekistan’s dry fruits and refreshments.

Overview

Date: Tuesday, 24 October 2023

Time: 14:30 – 16:30 (Seminar) / 16:30 – 17:30 (Networking)

Venue: 　　 Nagoya International Center, Annex Hall

Organizers: United Nations Industrial Development Organization
Investment and Technology Promotion Office, Tokyo (UNIDO ITPO Tokyo)
Embassy of the Republic of Uzbekistan in Japan
Friendship Association of Nagoya and Uzbekistan

Co-organizer: Honorary Consul of the Republic of Uzbekistan in Nagoya

Supporters: Japan Association for Trade with Russia and NIS (ROTOBO)

Language: Japanese

Programme

14:30 Welcome Remarks
Ms. Fumio ADACHI
Head, UNIDO ITPO Tokyo

14:35 Opening Remarks
Mr. Hiroyuki ITO
Honorary Consul of Uzbekistan in Nagoya

14:40 Opening Remarks
Mr. Bakhodir SAIDOV
Trade and Economic Counsellor, Embassy of the Republic of Uzbekistan in Japan

14:45 Keynote Presentation: Investment and Business Opportunities in Uzbekistan
Mr. Tengiz ASANOV
Deputy Head, Investment Climate and Ratings Department
Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

15:30 Presentation: Business and Investment Experience in Uzbekistan
Mr. Chinori TOKITA
Assistant Manager of Second Sales Department, Osaka Material Sales Section Chief
Manager of Uzbekistan Tashkent Office, Masui Co., Ltd.

15:45 Presentation: Business and Investment Experience in Uzbekistan
Mr. Motoyoshi BABA
President, Meinan Co., Ltd.

16:00 Tourism in Uzbekistan
Mr. Fakhriddin ERGASHEV
Second Secretary, Embassy of the Republic of Uzbekistan in Japan

16:15 Q&A

16:30 Closing Remarks
Mr. Bunyodbek IBRAGIMOV
Director, Friendship Association of Nagoya and Uzbekistan

16:45 Networking Session
Please enjoy coffee/tea at the foyer

Presentation Material

Inquiries

UNIDO Tokyo Office (Attn: Ms. Fukuyama, Mr. Gelegen)
E-mail: [email protected]　

Relevant Documents

The Ministry of Investments and Foreign Trade of the Republic of Uzbekistan, in cooperation with the Japan International Cooperation Agency (JICA), published “The Investment Guide Uzbekistan” as a resource for potential investors and companies that are interested in opportunities in Uzbekistan. This publication provides comprehensive insights into the country’s key economic and business conditions, investment processes, taxes, as well as accounting, legal and labor issues. It aims to facilitate the discovery of untapped sectoral opportunities to start a business in Uzbekistan. If interested, please refer to the following documents:

Investment Guide Uzbekistan_EN（27.1MB）
Investment Guide Uzbekistan_JP（34.8MB）