Investment projects implemented by Russian companies in Uzbekistan help increase employment in the country, Russian Ambassador to Uzbekistan Oleg Malginov said on Monday.
"Implementation of large investment projects by Russian companies contributes significantly to employment growth in Uzbekistan by creating well-paid jobs," the ambassador said at the final press conference in 2021. He noted that Russia remains the largest investor in the economy of Uzbekistan, to date, its total investments exceed $10 billion.
According to the head of the Russian diplomatic mission, the investments of such Russian companies as Lukoil, Gazprom, Tatneft, Zarubezhneft, Yandex, Vympelcom, Rosselmash, Kamaz and Gaz are primarily directed to the oil and gas, telecommunications, machine-building and agriculture sectors.
According to Malginov, over 2,300 Russian and joint ventures are currently working in Uzbekistan, while over 600 companies, including residents of Uzbekistan, are registered in Russia.
In his speech, the ambassador also noted a significant growth of mutual trade between the two countries, one of the drivers of which is interregional cooperation. "To date, almost all subjects of the Russian Federation have foreign trade relations with regions of Uzbekistan. Despite the pandemic, more than 50 reciprocal visits have taken place this year," Malginov said. According to his data, the top ten Russian regions with the largest volume of trade turnover with Uzbekistan include Moscow, St. Petersburg, Tatarstan, Chelyabinsk, Moscow, Ivanovo, Sverdlovsk, Belgorod, Orenburg and Samara regions.
GSV "Russia - Islamic World"
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Based on materials from TASS