TILF-2011 as a mechanism of strengthening ties of leasing community

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.

As is well known, public recognition, which entails successful competition of any goods, creates authority for a company, while its services get a chance to develop further and yield profit. In order to promote the increase of the level of information distribution among entrepreneurs and the country’s population on leasing services and their opportunities a public award in this field has been instituted in Uzbekistan.

The “Golden Briefcase” is a public award that is conferred annually in the sphere of leasing activity. The ceremony of rewarding is held on results of a contest based on the criteria developed by the specialists in the sphere of leasing activity, as well as heads of the largest local leasing companies. The “Golden Briefcase” public award in the field of leasing activity has been founded by SAIPRO Information Rating Agency. The contest is conducted with the support of Uzbekistan Lessors Association, Chamber of Commerce and Industry of Uzbekistan, Public Fund for Support and Development of Independent Print Mass Media and Information Agencies of Uzbekistan, Tashkent Finance Institute and other interested organizations.

The “Golden Briefcase” award is intended to encourage succeeding representatives of the leasing services market community and promote the increase image of the organizations rendering leasing services. It is also aimed at ensuring transparency of the domestic market of leasing services through attraction of a wide range of mass media for a broad information support of this industry and the best achievements in the field of leasing services. One of the important tasks of the award is development of business and cultural ties among the professional participants of the leasing market of Uzbekistan, both in the country and abroad.

The “Golden Briefcase” award is assigned in the following nominations: “Leader on the dynamics of leasing activity development”, “Best participants of leasing market in the field of popularization of leasing”, “Best head of leasing company of the year”, “Best specialist in the field of leasing services”. Professional participants of the leasing services market of Uzbekistan and mass media working actively in this market, as well as persons who show their worth in this sphere of activity can pretend to win the “Golden Briefcase” award. Winners of the award get the “Golden Briefcase” Diploma in the field of leasing activity.

BVV Business Report

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