Russia remains a key investor in Uzbekistan, with Russian companies investing more than 13.5 billion dollars in the Republic over the past year. The Deputy Minister for Economic Development of the Russian Federation, Dmitri Volvac, commented on the outcome of the third Tashkent International Investment Forum, which gathered representatives from 93 countries around the world.

The plenary session of the forum was addressed by President Shawkat Mirziyoev of Uzbekistan, and a representative delegation participated in the event from Russia.

" To date, Russia and Uzbekistan are implementing 98 joint investment projects in various industries, amounting to 2.5 trillion roubles, bringing data from Dmitri Volvac. In total, more than 3,000 enterprises with Russian participation are represented in Uzbekistan, accounting for about 22 per cent of all foreign capital companies operating in the Republic. This has a direct impact on the growth of mutual trade, which has increased by 11.5 per cent over the 820 billion roubles plan since last year. "

As part of the forum, the Deputy Minister visited the Tashkent metallurgical factory, which operates its products in many countries around the world as one of the most environmentally sound metal industry enterprises not only in the republic but also in the CIS territory.

The launch was launched in December 2020 with the support of the REC group and the participation of more than 30 Russian producers and suppliers of high-technology equipment and construction materials.

The project involved more than 1,000 highly qualified personnel from Russia. The enterprise was designed to provide the Uzbek industry with 500,000 tons of cold rolling leaf annually.

During an examination of the Dmitri Volvac factory, the quality of the product and the developed culture of production was noted.

" The project is interested in Russian equipment and materials being supplied for its construction. The launch is fully operational in Russian raw materials, which are mainly from Russia, with the Magnitogora metallurgical Combination, he noted. - In the example of the Tashkent metallurgical factory, we see a multiplier effect in which Russian contractors have won, and for many years additional demand for Russian metallurgical products has been created. "

In conjunction with the Acting President of the Vuza Vittoria Idrisova Dmitri Volvac, met with the newly appointed Rector of Tashkent State Economic University, Tulkin Teshabaev.

Following the meeting, the parties signed a memorandum on cooperation between the Tashkent State Economic University and the All-Russian Academy of Foreign Trade. The Deputy Minister reviewed the future Strategic Initiatives Expert Centre to analyse the market and select promising business projects and initiatives.

At the centre, Russian specialists subsequently offered to open retraining courses for the public to meet the demands of the Republic in this category of specialists.

" We expect the Strategic Initiatives Centre to focus not only on project activities but also on human resources, to emphasize Dmitri Volvac. - May participate in the training of highly skilled agricultural professionals and thus influence the productivity of the agricultural sector. "