Today leasing is an effective mechanism for investing funds in the modernization of production capacities of enterprises, expansion of private entrepreneurship and creation on its basis of competitive production, which is one of the priorities of our country’s economic policy.
Annual growth of the volume of leasing transaction in the structure of Uzbekistan’s gross domestic product is the outcome of carried out work on the development of leasing sector. Moreover, the number of participants, including banks, leasing companies and credit unions engaged in leasing operations, is increasing constantly in the Uzbek leasing services market.
Presently there is observed high demand for leasing services in Uzbekistan, which is the factor of existing potential for further development of the market, promoting the enhancement of competitive environment, and therefore improvement of the level of rendered services.
Thus, Uzbek leasing market participants concluded more than 5,500 deals worth a total of over 430 billion soums on results of 2010. Aggregate leasing portfolio exceeded 1.13 trillion soums. Compared with the previous year, the growth rates of the volumes of leasing services made up nearly 7-8%. Significant share of these transactions was registered by leasing companies and about 1,500 deals fall to the share of commercial banks.
It should be noted that agricultural machinery is leading among the objects given to leasing. Its share in the overall structure of leasing transactions made up 28.7% in 2010. Significant volumes of deals are also marked with cargo transport – 18.6%, real estate – 14.1%, irrigation equipment – 9.9%, passenger transport – 9.5%, etc.
Further development of the leasing market in Uzbekistan is connected with a number of factors, one of which is favorable legislative environment and opportunity of beneficial investments in leasing companies. Besides, the existing demand for equipment on production of building materials and agricultural products processing, special construction machinery, automobile transport (cargo and passenger), as well as in the sphere of small business and private entrepreneurship will boost the activity of local leasing companies.
The 3rd Tashkent International Leasing Forum (TILF-2011) that kicked off at Intercontinental Tashkent hotel on 28 April this year has become an interactive platform for the dialogue among the representatives of leasing communities.
The event is attended by top managers and specialists of foreign and national leasing companies, banks, insurance companies, enterprises producing and supplying various types of machinery and equipment to leasing companies, other representatives of the sphere of leasing services, ministries and departments, state and public organizations, heads of foreign financial market regulators, national and international associations of different financial institutions.
The Forum has been organized with the aim of developing leasing through assistance to the strengthening of ties among the representatives of international leasing community, as well as national and foreign leasing businessmen of Central Asia and other regions. The meeting is also focused on ensuring effective exchange of experience, discussion of actual issues of the sphere of leasing in conditions of markets growth recovery in the post-crisis period.
Participants of the Forum will get acquainted with the potential and broad investment opportunities of the sphere of leasing services of the Central Asian region and will have a chance to establish mutually beneficial business relations with foreign partners.
TILF-2011 has been organized by the Uzbekistan Lessors Association and SAIPRO Information Rating Agency with the official support provided from the Chamber of Commerce and Industry of Uzbekistan and Media XPRIMM (Romania). UzbekLeasing International A.O., a leading Uzbek leasing company, holds the status of the Forum’s general partner.
Solemn ceremony of awarding the winners of the “Golden Briefcase” public award in the sphere of leasing services will take place within the framework of the Forum.