CAREC Energy Ministerial Dialogue & Forum to commence in 2 days
- By Dulguun Bayarsaikhan -
- Sep 18,2019
The Central Asian Regional Economic Cooperation (CAREC) Energy Ministerial Dialogue and Energy Investment Forum is scheduled to launch on Friday morning in Tashkent, Uzbekistan.
Minister of Energy of Uzbekistan Alisher Sutanov and Asian Development Bank (ADB) Vice-President for Private Sector and Public-Private Partnerships Diwakar Gupta will address the two-day forum, themed “Overcoming Investment Barriers in Central Asia: Bringin Business to Energy Markets in Transition”.
Energy leaders, policy makers, project developers, technology providers, investors, international financial institutions, members of the diplomatic community, academia, and young entrepreneurs will join the forum to discuss options to attract investment to Central Asia, make energy transition a profitable business, explore ways to develop clean energy in the region, identify challenges faced by energy investors and provide possible solutions, and evaluate future trends.
The energy investment forum will consist of five sessions on topics: “Energy Sector Reform as a Catalyst for Optimal Investment Conditions”, “How to Make the Energy Transition a Profitable Business in Central Asia?”, “Balancing
Risks and Returns in Times of Transition”, “Meet the Future - Regional Start-Up Initiatives and Innovative Business Models in the Energy Sector”, and “This is How We Do It – Common Regional Business Practices and Procedures”.
CAREC Program is a partnership of 11 countries and development partners working together to promote development through cooperation, leading to accelerated economic growth and poverty reduction. It is guided by the overarching vision of “Good Neighbors, Good Partners, and Good Prospects”. Mongolia is part of the program along with Afghanistan, Azerbaijan, China, Kazakhstan, Kyrgyz, Tajikistan and Uzbekistan. On the other hand, ADB, European Bank for Reconstruction and Development, International Monetary Fund, Islamic Development Bank, United Nations Development Programme and World Bank are participating as development partners.
Since its inception in 2001 and as of December 2018, CAREC has mobilized more than 34.5 billion USD investments that have helped establish multimodal transportation networks, increased energy trade and security, facilitated free movement of people and freight, and laid the groundwork for economic corridor development.