SEG Enera took part in the Europe-Uzbekistan Annual Business Meeting in Brussels

The 2023 Europe-Uzbekistan Annual Business Meetings in Brussels, hosted by the Europe-Uzbekistan Association for Economic Cooperation (EUROUZ), were a milestone in strengthening economic ties between Europe and Uzbekistan.

With over 120 in-person and 800 unique online viewers via online platforms and social media networks over the course of the day, this event set the stage for high-ranking representatives from the Republic of Uzbekistan, the European Union, European companies, and investors to engage in discussions on subjects vital to the EU - Uzbekistan relationship.

The inaugural session, "The Evolving EU-Uzbekistan Partnership for a New Era," set the stage. Uzbekistan Deputy Prime Minister Jamshid Khodjaev highlighted Uzbekistan’s commitment to strengthening ties with the European Union. Jutta Urpilainen, European Commissioner for International Partnerships, in her video address, emphasized the potential of the Middle Corridor to reshape trade dynamics between Europe and Asia, reducing transportation times and costs. Dr.Klaus Mangold, EUROUZ Chairman in his remarks mentioned that Uzbekistan is creating favourable infrastructure for Foreign Investment, in particular from Europe.

The session "Financial Renaissance: Paving the Way for Privatization and Growth in Uzbekistan's State-Owned Enterprises (SOEs)," explored the challenges and opportunities of privatization. The panel discussion stressed the need for a structured approach. It highlighted successful privatization examples, including the sale of Ipoteka Bank to Hungarian Bank OTP and the entry of Georgian TBC Bank into Uzbekistan's banking sector. Collaboration with international financial institutions (IFIs) was highlighted, with the Uzbek government working with the European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB), and the International Finance Corporation (IFC) to transform and privatize state-owned banks and enterprises. The recent decree to privatize over 1,000 state-owned enterprises in various sectors will open doors for new investments. At the same time, Odilbek Isakov, CEO of Infrasia Capital and former Deputy Minister of Finance of Uzbekistan mentioned that the EU companies already play a leading role in Uzbekistan’s PPP projects’ development. This panel also included Kodirjon Norov, Partner at Avesta Investment Group, Golib Kholjigitov, Head of the Secretariat of Foreign Investors Council under the President of Uzbekistan, Louis Skyner, Partner at Dentons & EUROUZ Board Member and Dmitry Bobkov, Corporate Communications Director at SEG Enera Group.