Meeting in Samarkand By Malika Sharipova
On August the 3rd a number of experts originally from Uzbekistan, who live and work in mostly developed countries participated in the meeting initiated by the regional khokimiyat. Meeting was held at the Youth Center in Samarqand city and together with experts, representatives of the regional khokimiyat, heads of districts and cities, organizations and administrations, professors and teachers of universities were also present in the event. The discussion was on how to improve the investment climate in the region. Experts shared their foreign experience and presented proposals on relevant issues. As a representative of CARE CSR, I spoke about the important role of corporate social responsibility in attracting foreign direct investment.
The current level of foreign direct investment in Uzbekistan is unsatisfactory. The government of Uzbekistan has one of the lowest rates of foreign direct investment among CIS countries. In order to attract the world’s largest investors, country is in need to solve several key issues such as high state share in various key sectors of the economy, undeveloped and the unregulated banking sector, imperfect tax reforms, trade barriers and lack of transparency.
The role of CSR is significant in solving these problems, as it helps businesses and enterprises to implement and practice principles of transparency and sustainability and fulfill their responsibilities to all stakeholders. These factors are important to attract major investors and influence their decision-making.
I was pleased with the openness of khokim Erkin Okbutaevich and his interest in proposals. During my speech, I mentioned about the “Raise Production Business,†in Samarkand region that according to kun,uz polluting the local Okdaryo River. Right after the meeting, I was informed that the prosecutor’s office and the State Environmental Committee will study this problem and take appropriate measures.
I hope that Okdarya issue will soon be removed from problems list.