Investment Potential of Moscow Region and Uzbekistan Discussed at Business Forum

Uzbekistan is one of the key partners for the Moscow region. The Moscow region’s share in Russia’s total foreign trade turnover with Uzbekistan was 6.4% in the first quarter of 2024, said Deputy Chairman of the Government and Minister of Investments, Industry, and Science of the Moscow Region, Ekaterina Zinovyeva, during a business forum with entrepreneurs from the Moscow and Andijan regions, held at the House of the Moscow Region Government in Krasnogorsk.

At the event, the investment opportunities of both regions were presented. Participants shared their projects and learned about support measures and conditions for investors. About 30 companies from the Moscow region participated, including producers of food products, medical equipment, animal feed, cosmetics, various equipment, and textiles. Among the participants was the international cosmetic brand Librederm, which has one of its factories in the Dubna Special Economic Zone. The Andijan region was represented by 10 companies, including a pharmaceutical enterprise and a manufacturer of bearings for various industries. Entrepreneurs from Uzbekistan expressed their readiness and willingness to develop business and cooperate with the Moscow region.

Ekaterina Zinovyeva emphasized the importance of cooperation with Uzbekistan: “Uzbekistan is one of the key partners for the Moscow region. In the first quarter of 2024, the trade turnover of the Moscow region with the Republic of Uzbekistan increased by 5% compared to the same period last year. In terms of the value of goods, exports exceeded imports from Uzbekistan by almost two times. Thus, cotton, vegetables and fruits, cotton wool, felt, knitted fabrics, and textile products are imported into the Moscow region. The Moscow region exports pharmaceutical, cosmetic, meat, dairy, and other food products, as well as mechanical equipment, steel products, wood, and wood products. We are looking forward to welcoming entrepreneurs from Uzbekistan and are ready to help them start a business in the Moscow region. By the way, in the fall, as part of our SME Container service, an export cargo from the Moscow region to Uzbekistan is planned to be sent.”

An important example of successful cooperation was the trade turnover of the international cosmetic brand Librederm with the Republic of Uzbekistan, which amounted to more than $170,000 in 2023, and has already exceeded $120,000 in 2024. Librederm’s participation in this business forum underscores its significant role in developing economic ties between the Moscow region and Uzbekistan.