(…) As significant as these statistics are, long-operating joint ventures have found themselves forced out of Uzbekistan. Here, I highlight the case of Newmont Mining – a flagship American investment from a company that operates successfully on five continents. Newmont’s was one of the first and the largest single American company investment in Uzbekistan. And it was, too, an investment by Americans in the economic well-being of Uzbekistan and its people. It helped to create jobs for Uzbek citizens. And now it is jeopardized by a decision by the tax authorities to reverse prior commitments.
The way this case is handled will be watched carefully by businesses interested in investing in Uzbekistan. Why does the United States Government care about these developments? We care precisely because we view trade as a vehicle to sustain growth, expand wealth, and broaden opportunity and partnership.
More information: Newmont – Uzbekistan