Uzbekistan intends to solve the problem with Zeromax lenders

Uzbekistan intends to solve the problem with Zeromax lenders in the near future, Kun.uz correspondent reports.

It should be recalled that after the Uzbek company Zeromax GmbH declared itself bankrupt in 2010, a number of large German construction companies appealed to the government of Uzbekistan to cover their expenses. They took part in various Zeromax projects, including in the construction of the Palace of International Forums.

According to German media reports, lenders, among which over 100 companies from various countries of the world, demanded to return about 4 billion Swiss francs to them. At the same time, the level of debt to German construction companies from various sources was estimated from 60 to 200 million euros.

The State Investment Committee of Uzbekistan noted that the situation with German creditors will be resolved in the near future.

“A working group has been created in this direction together with a number of ministries and departments, it is actively working to resolve this issue, and I think everything will be settled in the coming month,” Alexey Sim, Deputy Director of the Department for the Development of Foreign Cooperation noted.

According to him, now the Uzbek side is discussing possible solutions to this problem in order to find a way that is mutually acceptable for all parties.

Experts say, a successful resolution of this issue will remove the barriers hindering the dynamic development of economic relations between Germany and Uzbekistan. In addition, this will make it possible to significantly increase the investment image and attractiveness of Uzbekistan as a reliable partner in the eyes of foreign entrepreneurs, especially since this amount does not look so overwhelming against the background of the growth of Uzbek-German trade.

Today, Germany is one of the most important partners of Uzbekistan in the European Union. In 2016, the volume of mutual trade turnover exceeded $ 520 million. Uzbekistan has more than 100 enterprises with German investments. Over 40 German companies have their representative offices in the country.

Since 1993, the amount of funds allocated to Uzbekistan by the German government in the framework of technical and financial cooperation has exceeded 341 million euros.

It is worth noting that the President of Uzbekistan Shavkat Mirziyoyev plans to visit Germany in January 2019. This was stated by German Ambassador to Uzbekistan Günter Overfeld.

According to him, during his visit, the head of Uzbekistan will hold talks with Chancellor Angela Merkel and President Frank-Walter Steinmeier.