Since Uzbekisan became an independent country it has focused on the creation of a favorable investment climate and the dynamic growth of foreign investments. Thus, the annual increase in the volume of foreign investment attracted is more than 20%.Following the specific measures taken by the country's officials for the diversification and implementation of structural changes into the economy, the share of banking, financial, insurance and leasing, communications/IT and other fields in the country's GDP increased from 38.7% in 2005 to 50.5% in 2011, and then in the first half of 2012 - to 52.2% and in the first half of 2013 up to 52.4%. It is expected that in 2016 the share of services in GDP will reach 55%, according to the Program of development of services in the Republic of Uzbekistan for 2012-2016.
Moreover, over the years, the Ministry of Finance, authorized by the state body to regulate and contribute to the development of the insurance market of the Republic of Uzbekistan, a series of measures have been taken for the development and the expansion of the infrastructure in this field.
Therefore, in accordance with legislative modifications on the changing requirements regarding the minimum capital of insurers starting July 1st , 2012 and up until 2015, the insurance companies in Uzbekistan must increase their social capital by almost the double.
Thus, between 19th-23th May 2014 in Tashkent (Uzbekistan) the 7th Tashkent International Conference on Insurance and Reinsurance will take place, which is organizes within the framework of the 7th Tashkent International Investment Financial Forum by SAIPRO information rating agency. Traditionally, PRIMM Insurance&Pensions Magazine supports the Forum as Media Partner.
Tashkent International Conference on Insurance and Reinsurance annually gathers more than 300 representatives of insurance and reinsurance companies, hereby serving as an effective place for meetings, establishing and continuing the cooperation between forum participants from regions of the world such as Europe, Asia, Africa and others. Due to its geographic location, the conference serves as a "bridge" between the above mentioned regions and becomes a large business ground in the Central Asian region.
A series of current aspects pertaining to the development of insurance markets, reinsurance market conditions, and the role of the Central Asian region on this market are going to be discussed upon the forthcoming event. All necessary conditions and all-round support will be created for facilitating bilateral business negotiations.
It should be noted that within the scope of the Forum the following events will take place:
- the conference "Investment opportunities for banking, insurance, leasing segments and securities market of Uzbekistan";
- the 3rd Tashkent International Conference on banks, leasing and investment portfolios;
- Other meetings on separate economic fields.
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