India-Central Asia Business Conclave A New Era of Global Trade and Connectivity

2. India - Central Asia Business Conclave May 2024 1. About GIBF 2. President’s Message 3. Central Asia’s Renaissance – Economic Opportunities, Geopolitical Dynamics, Development and Cooperation 4. Editor’s Corner – India Central Asia –Reviving Economic Ties 5. Russia - Undergoing a Fast-paced Expansion in Economic Activity 6. Tajikistan - A Portrait of Majestic Landscapes and Natural Wonders 7. Belarus - One of the Economies Witnessing Swift Expansion 8. Iran - A swiftly expanding economic force 9. Central Asia - A Land of Geopolitical Significance 10. Mongolia - One of the Economies Showing Remarkable Growth 11. Uzbekistan - Tracing the Legacy of the Silk Road 12. Azerbaijan - Characterized by Rapid Growth 13. Kazakhstan - A Snapshot of its Geography, Culture, and Iconic Landmarks 14. Armenia - A Blend of Ancient Beauty & Modernism Embassies From 2024 02 www.thebusinesstycoons.com www.gibf.

3. About GIBF lobal India Business Forum G creating and building a world business community for the prosperity of businesses globally. Founded in 2016 by the visionary leader Dr. Jitendra Joshi, today GIBF is one of the fastest growing networking platforms in the world that has successfully connected businesspersons from different countries and sectors on one platform. The Global India Business Forum was inaugurated with the vision to support Micro Small and Medium Enterprises (MSMEs), by the honourable governor of Rajasthan, Shri Kalraj Mishra who was then Cabinet Minister for Micro Small and Medium Enterprises. This platform is not only for India that is the prime focus, but also for MSMEs across the world. The GIBF is aligned with the Indian Government's initiatives such as “Make in India” “Aatmanirbhar Bharat Abhiyan (Self-reliant India Mission),” and “Skill Development”, which can be advantageous for businesses looking to leverage these government-driven programs. We, at the GIBF, bridge the gap between demand for opportunities and their supply by conducting webinars, seminars, felicitation programmes, conclaves and conferences at the national and international level. These webinars, seminars and conferences help Ambassadors and Consul Generals of various countries shed light on several business opportunities their countries have in store for foreign investors. They also help businesspersons identify business opportunities that best suit them and we shall help them come together on our platform. There are ample opportunities for both Indian and Global companies to run start-ups and make exponential growth in all business sectors. These initiatives also provide a golden opportunity for Indian MSMEs to promote themselves and show their true potential to grow and flourish. GIBF promotes such initiatives. GIBF consists of members from all fields of business, industry, academics and other professions without any segment boundaries. GIBF has its head office in Delhi, corporate office in Pune, India and global offices in Dubai, USA, UK, Singapore and China. It also has a presence in Mumbai, Chennai, Ahmedabad, Kolkata and Cuttack in India. We value holistic growth, humanistic diversity and are committed to Professionalism, Excellence, C o m m u n i t y I n v o l v e m e n t , Accountability and Timely Progress with Ethical Value. We are connected with embassies of 150 plus countries, have 9000 plus corporate members, 97000 plus business associate members, 350 plus business groups on social media platforms, 350 plus tie-ups with trade/business associations globally. We have branches in all the metro cities of India. We conducted 150 plus national and international trade fairs and seminars. GIBF is one of the most useful tools when it comes to cultivating critical, lucrative business opportunities, since it has a high concentration of business decision makers. Many eminent personalities are connected with us. Cultural activities, student connect (GIBF) is an ISO 9001: 2015 certified company that is programme, country connect programme, etc. bring together different minds with a common purpose. GIBF knows the value of appreciation and hence, felicitation programmes are organized at International, National and State level to recognize and appreciate successful brands, business leaders and young entrepreneurs. They are awarded by governors, and diplomats of various countries who are invited as chief guests by GIBF. It is an excellent platform to promote Trade Fairs from across the globe, where you are guided with the best Trade Fairs to participate in, to broaden your business horizons. You can register for such Trade Fairs through GIBF. Here you are facilitated with the most viable National and International Tenders for larger projects, contracts and procurement. The GIBF management also initiated Business and Cultural Councils with different countries because we believe business and culture go hand-in-hand. GIBF feels that there are immense business opportunities in every country and GIBF wants to tap those unexplored business opportunities. Business and Cultural Councils are important collaborations to propel bilateral trade and cultural exchange while elevating the economies of the countries involved. 03 | www.thebusinesstycoons.com | www.gibf.biz 03 | www.thebusinesstycoons.com | www.gibf.biz 2024 2024 03 www.thebusinesstycoons.com www.gibf.

4. From the President’s desk Strengthening the age-old bonds with Central Asia Greetings from Global India Business Forum! It is with great pleasure and enthusiasm that I extend a warm welcome to each and every one of you to the India-Central Asia Business Conclave, organized by the Global India Business Forum (GIBF). As the President of GIBF, I am honored to have the presence of eminent personalities, business leaders, and visionaries who share a common goal of fostering stronger ties between India and the Central Asian region. The relationship between India and Central Asia is steeped in history, culture, and mutual respect. It is a relationship built on the foundation of shared values and aspirations for prosperity and progress. Today, as we explore new avenues of collab- oration and partnership, I am filled with optimism about the immense potential that exists for our two regions to work together towards common goals. The India-Central Asia Business Conclave serves as a platform for dialogue, exchange of ideas, and forging meaningful connections. It is an opportunity for us to leverage each other's strengths, capitalize on emerging opportunities, and address challenges collectively. Through this conclave, we aim to facilitate greater trade, investment, and cooperation across various sectors including energy, infrastructure, agriculture, technology, and tourism. I am confident that the discussions and deliberations during this Conclave will lead to concrete outcomes and initiatives that will propel our bilateral relations to new heights. It is my sincere hope that this conclave will serve as a catalyst for deeper engagement and collaboration between India and Central Asia, benefitting not only our respective economies but also the well-being of our people. I extend my heartfelt gratitude to all the participants, speakers, sponsors, and partners who have contributed to making this conclave a reality. Your presence and active involvement are testament to the importance and relevance of our shared endeavors. I would like to reaffirm GIBF's commitment to fostering closer ties between India and Central Asia and to creating a more prosperous and interconnected future for all. Let us seize this opportunity to build bridges, forge partnerships, and embark on a journey of mutual growth and development. Thank you Sincerely, Dr. Jitendra Joshi Founder and Global President Global India Business Forum

5. Central Asia’s Renaissance Economic Opportunities, Geopolitical Dynamics, Development and Cooperation crucial roles in ensuring regional stability. For India to leverage Chabahar as a vital gateway to access Eurasian markets and fully utilize its potential, the participation of a Central Asian state as a direct stakeholder in the project is necessary. Central Asia is a region located at the crossroads of Asia, bordered by Russia to the north, China to the east, Afghanistan and Iran to the south, and the Caspian Sea to the west. It comprises five countries: Kazakh- stan, Kyrgyzstan, Turkmenistan, Uzbekistan, Armenia Belarus, Azerbaijan, Geor- gia and Mongolia. Historically, Central Asia has been a crucial hub for trade, culture, and civilization, with ancient cities like Samarkand and Bukhara serving as major centers along the Silk Road. Each of the Central Asian countries has its own unique history, culture, and language, but they share commonalities due to their shared geographic and historical heritage. The region has been influenced by various empires and civilizations over the centuries, including the Persian, Greek, Mongol, and Russian empires. international organizations like the United Nations and the European Union. Overall, Central Asia is a diverse and dynamic region with a rich cultural heritage and significant potential for development and cooperation in the 21st century. India has a broad spectrum of interests in Central Asia spanning security, energy, and economic opportunities. Central Asia's pivotal geographical position, bridging Asia and Europe, renders it geopolitically significant for India. The security, stability, and prosperity of Central Asia are crucial for India's peace and economic development. Central Asian regions are increasing- ly interconnected with the global market for production, raw material supplies, and services, as well as being integrated into East-West Trans-Eurasian transit corridors. Tajikistan, economic Iran, Indian collaboration in the Central Asian region can address challenges in food security, with Indian expertise potentially transforming the region. Commercial farming presents anoth- er significant area for cooperation between India and the CARs. India's successful experiences in increasing food and milk production and modernizing agricultural techniques, particularly under the green and white revolutions, could be beneficial for Central Asia. The region boasts abundant natural resources such as petroleum, natural gas, antimony, aluminum, gold, silver, coal, and uranium, which could effectively meet India's energy needs. Additionally, vast cultivable land in Central Asia underutilized, presenting significant opportunities for pulse cultivation, where Indian agribusiness companies could establish commercial agro-in- dustrial complexes. Maintaining good relations with India can provide assured markets for Central Asian countries for their energy resources, raw materials, oil and gas, uranium, minerals, and hydroelectric power. Furthermore, India can bring in substantial foreign investment along with technical expertise in infrastructure, hospitali- ty, and medical fields, significantly contributing to the region's develop- ment. remains The region also possesses significant natural resources, particularly in energy and minerals, which present opportunities for economic develop- ment and investment. Rapid economic growth in certain areas has made them attractive for the construction industry, substantial opportunities for Indian companies involved in financial services, contracting, engineering, and management. In recent years, Central Asia has become increasingly important in global geopolitics, particularly due to its strategic location and its role in issues such as energy transit, regional security, and counterterrorism efforts. The countries of Central Asia have also sought to strengthen ties with neighboring powers, such as Russia, China, and Turkey, as well as with offering India and the Central Asian Republics (CARs) share commonalities and perspectives on various regional and global issues, enabling them to play

6. Editor’s Corner India-Central Asia – Reviving Economic Ties Greetings from the Global India Business Forum! India and Central Asia have been connected historically and by trade since the ancient times. We, at the Global India Business Forum (GIBF), have been conducting various activities to promote trade and cultural relations between countries. Trade and investment between India and Central Asia is once again increasing. The India-Central Asia Business Conclave stands as a testament to the growing importance of regional cooperation in fostering economic prosperity and sustainable development. We recognize the significance of strengthening ties between India and the Central Asian nations and its potential to shape the future landscape of trade, investment, and cultural exchange in the region. This conclave provides a unique platform for policymakers, business leaders, and thought influencers to engage in constructive dialogue, exchange ideas, and forge meaningful partnerships. Through insightful discussions and collabora- tive initiatives, participants explored avenues for enhancing connectivity, leveraging comparative advantages, and address- ing common challenges. As we reflect on the outcomes of the conclave, it is evident that the seeds of cooperation sown during this event have the potential to yield fruitful outcomes in the years to come. From expanding trade linkages to promoting infrastructure devel- opment and fostering cultural exchanges, the conclave has laid a solid foundation for mutual understanding and collabora- tion. As editors, we commend the organizers, participants, and stakeholders for their proactive engagement and commitment to advancing the Indo-Central Asian partnership. We are optimistic that the insights gained and initiatives launched during the conclave will contribute significantly to regional integration, economic growth, and shared prosperity. Moving forward, we urge continued dialogue, cooperation, and concerted action to harness the full potential of the India-Central Asia relationship. By building on the momentum generated by this conclave, we can chart a course towards a more interconnected, resilient, and prosperous future for all stakeholders involved. As we document the proceedings and outcomes of the India-Central Asia Business Conclave, we remain committed to providing our readers with comprehensive coverage and analysis of key developments shaping the regional landscape. This edition of our international magazine, The Business Tycoons titled, ‘India-Central Asia Business Conclave: A New Era of Global Trade and Connectivity’, provides insights into the opportunities in the Central Asian countries. We look forward to witnessing the tangible impacts of this conclave and the positive outcomes it will bring for the Indo-Central Asian partnership. Thank you Sincerely Deepali Gadkari Editor-in-Chief – The Business Tycoons Co-founder and Secretary General Global India Business Forum

7. Undergoing a fast-paced expansion in economic activity Russia Russia stretches over the easternmost part of Europe and the northernmost part of Asia. It has the world's fourth-longest Russia, by landmass, is larger than three continents, and has the same surface area as Pluto. It has nine major mountain ranges. Mount Elbrus at 5,642 m (18,510 ft.) is the highest peak in Russia and Europe. including between the Prime Minister of India and the President of Russia, serve as vital platforms for bilateral discus- sions and the signing of agreements. Institutionalized dialogue mecha- nisms such as the India-Russia Intergovernmental (IRIGC) facilitate cooperation in trade, economic, scientific, techno- logical, and military domains. Minis- terial-level meetings further strength- en ties, with Foreign Ministers and Defense Ministers engaging regularly to address bilateral and global issues. Recent initiatives like the 2+2 Dialogue underscore the expanding scope of collaboration, particularly in defense and foreign affairs. This partnership, characterized by its depth and breadth, continues to evolve, contributing significantly to regional stability and global peace. the Annual Summit Business Opportunities Foreign and international corpora- tions active in Russia span diverse sectors, including consumer goods and industrial manufacturing, energy and resources, healthcare, pharmaceu- ticals, trade, transportation, financial services, automotive manufacturing, and agriculture. Moreover, there are prospective opportunities for enter- prises capable of assisting Russia in transitioning towards a sustainable, low-carbon economy in the foresee- able future. coastline. Commission Russia's economy has evolved from a centrally planned system to a mixed market economy, boasting significant natural resource reserves, notably oil and natural gas. As of 2023, it ranked as the 11th largest economy by nomi- nal GDP, 6th largest by purchasing power parity (PPP) as per the IMF, and 5th largest according to the World Bank. Notably, Russia became a member of the WTO in 2012, marking its belated entry among major econo- mies. Bilateral Relations Russia has been a longstanding and time-tested partner for India. The partnership between India and Russia is extensive and multifaceted, spanning across political, security, defense, economic, and cultural domains. Established in 2000 as a Strategic Partnership and further elevated to a "Special and Privileged Strategic Partnership" in 2010, it embodies a deep and comprehensive relationship. Regular high-level 1. Energy and Fuels: Russia is rich in natural resources, particularly oil, natural gas, and coal. There are oppor- tunities for investment and collabora- tion in exploration, refining, and distribution of these extraction, engagements,

8. Documents Required The following required to set up a business in Russia: • LLC Registration Form, if you decide to incorporate as LLC • Notarised Documents • MoMs (Meeting of the Minutes) of the Board Meeting • Rental Documents (Guarantee of Rent) or information on the leased premises • Charter Documents of the LLC • State Trade Register Statement (for foreign legal entities) • Memorandum (MoA) • Invoice of the registration fee • Articles of Association • Foreigners Passport (for foreign shareholders) resources. Additionally, renewable energy sources like wind and solar power are gaining traction, offering avenues for investment in green energy projects. 2. Information Technology (IT): Russia has a burgeoning IT sector with a strong pool of skilled profes- sionals. Opportunities exist for partnerships in software develop- ment, cybersecurity, data analytics, and IT consulting services. Russia also has a growing startup ecosystem, providing opportunities for venture capital investment and collaboration with innovative tech firms. documents are of Association 3. Pharmaceuticals: The pharma- ceutical market in Russia is expand- ing, driven by an aging population and increasing healthcare expendi- ture. There are opportunities for collaboration in manufacturing, distribution, research and development (R&D). Joint ventures and technology trans- fer agreements can facilitate entry into the Russian market. 4. Agriculture: Russia has vast arable land and is one of the world's largest producers of grains, including wheat and barley. Opportunities exist in agricultural machinery, technology transfer for modernizing farming practices, agribusiness investment, and export of agricultural products. Additionally, there demand for organic and specialty foods, presenting niche market opportunities. H.E. Mr. Denis Alipov Ambassador of the Russian Federation to the Republic of India Preparation Required You need to check your eligibility and legal status as an individual before you can begin entertaining the idea of starting a business in Russia. You also need to stay updated regard- ing the visa work and creating a business plan for the new location in order to prepare better for starting a business in Russia. • Visa Process: To start a business in Russia, you need to apply for a Russian work visa that will help you start a company in the first place. • Business Plan: Russia is a market oriented economy while also being the fifth-largest economy in Europe. You need to have a lucrative business plan in place to make it work in Russia. pharmaceutical and H.E. Mr. Denis Alipov is the Russian Ambassador to the Republic of India. Previously, he worked as Deputy Director of Second Asia Department, Ministry of Foreign Affairs of the Russian Federation, and is currently the seniormost serving India affairs expert in the Russian Foreign Service. He has been closely associated with India for the most part of his profes- sional career including several assign- ments to New Delhi. Prior to joining the Foreign Service in 1993, Denis had also completed a one-year study tour at Jawaharlal Nehru University. Domestically, H.E. Alipov also served, among other postings, as Senior Officer in the office of the Russian Foreign Minister and as Aide to Chief of Staff of the Government of the Russian Federation. He had been for many years a close confidante of late Amb. Alexander Kadakin, a venerable milestone figure in Russia-India relations, widely honoured in both countries, and like Kadakin regards India as his Karma Bhumi. The ambassador holds a M.A. (Hon.) in History from the Moscow State University. is growing Registering your Business or Com- pany in Russia Types of Business Structures in Russia The procedure for incorporation of a company in Russia requires you to first decide the structure of your company from among the five listed below: • Branch of the foreign company • Limited liability company (LLC) • Partnership • Representative office • Joint-stock company (public or private) According to the Federal Tax Service of Russia, the most common struc- ture for Russian business incorpora- tion is the LLC format. Official name of Russia – The Russian Federation Capital City – Moscow Top Exports - Crude Petroleum, Petroleum Gas, Refined Petroleum, Coal Briquettes and Gold Top Imports – Packaged Medica- ments, Broadcasting Equipment, Cars, Computers, vehicles; parts and accessories and Motor

9. A Portrait of Majestic Landscapes and Natural Wonders Summit (ICAS) on January 27, 2022. Business Opportunities Tajikistan offers promising business prospects in agriculture, infrastruc- ture, tourism, mining, energy, and healthcare. With fertile land and favourable climatic agriculture investments can yield substantial returns. development initiatives create oppor- tunities in road construction, energy projects, and telecommunications. The country's natural beauty attracts tourism investments, while its rich mineral deposits offer potential in the mining sector. Tajikistan's significant hydropower potential avenues for energy investments, and there is growing demand for quality healthcare services, education, and technology solutions. Overall, Tajiki- stan's diverse economy offers a range of opportunities for investors looking to capitalize on its potential for growth and development. conditions, Infrastructure Tajikistan presents Tajikistan, nestled in Central Asia, is bordered by Afghanistan, China, Kyrgyzstan, and Uzbekistan. Renowned for its rugged terrain, the country boasts majestic mountains ideal for hiking and climbing enthusi- asts. Among its prominent features are the Fann Mountains, located near the capital city of Dushanbe, character- ized by snow-capped peaks soaring beyond 5,000 meters. This mountain range is home to the Iskanderkulsky Nature Refuge, renowned for its diverse bird population, centred around Iskanderkul, turquoise lake created by glacial activity. Over the last decade, Tajikistan experienced strong economic perfor- mance, with growth rate averaging above 7.1%. Tajikistan has enormous growth potential due to a young and growing population, water and hydro- power potential, and development in areas like agriculture and food processing, mineral tourism, and more. The Government of Tajikistan set an ambitious target—to more than double or triple domestic incomes between 2016 and 2030. visits have strengthened their bilateral connections. Historical and cultural bonds have played a significant role in elevating and relationship. Cooperation between the two nations includes various fields, with particular emphasis on military and defence cooperation. There have been several visits and agreements between the two coun- tries. Some of them include: President Shri Ram Nath Kovind paid a State Visit to Tajikistan on 07-09 October 2018. During the visit, Presi- dent announced a grant of USD 20 million for Tajikistan for projects mutually agreed upon by the two sides. A total of eight MoUs/agree- ments were signed in the following areas– (i) Peaceful Use of Space Technology, (ii) Disaster Manage- ment, (iii) Renewable Energy, (iv) Youth Affairs, Research and Education, (vi) Unani Medicine, (vii) Programme between Foreign Ministries for 2018-21, (viii) Cultural Exchange Programme for 2019-23. broadening this Hydropower and Energy - With abundant water potential from its rivers, natural lakes and glaciers, Tajikistan is almost exclusively reliant on hydro for electricity genera- tion. It has some of the world's largest hydropower plants (HPPs): the Nurek HPP, commissioned in 1972, and Rogun HPP, currently under construc- tion. a stunning Mining and Minerals - Tajikistan's extractive industries produce primari- ly for export, with the notable excep- tions of raw materials used for cement production, gold used to bolster national currency reserves, and coal, oil, and natural gas consumed domes- tically for energy and as materials for concrete production. (v) Agricultural resources, Agriculture and Agribusiness - Even though only seven percent of Tajikistan's land is arable, agriculture is a cornerstone of the country's Tajik President H.E. Mr. Emomali Rahmon has paid six visits to India in 1995, 1999, 2001, 2006, 2012 and 2016. During his last visit to India on 14-18 December 2016, President Rahmon met then President Shri Pranab Mukherjee, Prime Minister Shri Narendra Modi and Vice Presi- dent Shri Hamid Ansari. Three new cooperation agreements/MoUs were signed during the visit. President Rahmon virtually participated in the 1st meeting of the India-Central Asia Bilateral Relations The longstanding relationship between India and Tajiki- stan has been marked by closeness and warmth. Diplomatic relations were established on August 28, 1992 and since then frequent high-level and friendly

10. economy and accounts for 25 percent of gross domestic product and employs 53 percent of the labour force. The agricultural sector in Tajikistan offers a solid foundation for economic development. Background data required for regis- tration of an LLC in Tajikistan: 1. Company name; 2. Registered address 3. Participant’s data (name, citizen- ship, passport/company’s constituent documents, tax number); 4. Amount of the authorized capital; 5. Types of activities; 6. Chosen bank in Tajikistan and kinds of accounts to be opened there- with; 7. Information about the taxation system (common, simplified); Official name of Tajikistan: The Republic of Tajikistan Capital City: Dushanbe identification Top Exports: Gold, Precious Metal Ore, Raw Cotton, Copper Ore and Raw Aluminium Infrastructure Development - The infrastructure development sector in Tajikistan is witnessing growth due to several factors. Firstly, govern- ment prioritization of infrastructure projects aimed at improving trans- portation, energy, and water supply networks to support economic devel- opment. Secondly, increasing foreign investment and international partner- ships are driving the implementation of large-scale infrastructure projects, including road construction, hydro- power development, and urban infrastructure upgrades, to enhance connectivity and boost socio-eco- nomic progress. Top Imports: Refined Petroleum, Wheat, Cars, Petroleum Gas, and Raw Iron Bars Tourism and Hospitality - Underly- ing macroeconomic factors: The development of infrastructure and transportation networks in Tajikistan has been instrumental in driving the growth of the travel and tourism sector. Improved through new roads and airports has made it easier for tourists to access different parts of the country. H.E. Mr. Lukmon Bobokalonzoda Ambassador of the Republic of Tajikistan to the Republic of India connectivity H.E. Mr. Lukmon Bobokalonzoda is the Ambassador Extraordinary and Plenipo- tentiary of the Republic of Tajikistan to the Republic of India. He studied at the Polytechnical University of Tajikistan (1987–1992), Diplomatic Academy of Russian Federation (1998–2000), diplomatic courses in the Institute of Foreign Services of the Republic of India (1996), the Netherlands Institute of International Relations Clingendael (2001), diplomatic and German language courses of the Ministry of Foreign Affairs of Germany (2002). Registering your Business or Com- pany in Tajikistan Main business legal structures in Tajikistan: He was Leading Specialist of the Ministry of Economy and Foreign Trade Relations of the Republic of Tajikistan (1994-1995), Second Secretary of the Consular Department, Ministry of Foreign Affairs of the Republic of Tajikistan (1995-1998), First Secretary of the Department of American and European coun- tries, Ministry of Foreign Affairs of the Republic of Tajikistan (2000-2003), Second Secretary, Permanent Mission of the Republic of Tajikistan to the OSCE and UN organizations in Vienna (2003-2004), Chief of the UN Desk in the Depart- ment of International Organizations, Ministry of Foreign Affairs of the Republic of Tajikistan (2004-2006), First Secretary of the Permanent Mission of the Repub- lic of Tajikistan to the United Nations, New York (2006-2010), Deputy Head of the Department of international organizations, Ministry of Foreign Affairs of the Republic of Tajikistan (2011-2012), Counsellor of the Permanent Mission of the Republic of Tajikistan to the United Nations, New York (2012-2015), Deputy Head of the Department of international organizationsMinistry of Foreign Affairs of the Republic of Tajikistan (2016-2017), Head of the Department for External Economic Cooperation, Ministry of Foreign Affairs of the Republic of Tajikistan (2017- September 2020). • Limited Liability Company (LLC) • JSC (Joint-Stock Company - public/non-public) • Representative Office/Branch Main services of registration of a company in Tajikistan: 1. Preparation of constituent docu- ments of an LLC; 2. Registration of a company in regis- tration authorities; 3. Ordering and receiving of a seal; 4. Registration of data on the compa- nies in extra-budgetary funds; 5. Opening of current accounts in Tajikistan and abroad. 6. Selection of the taxation system (common, simplified). Ambassador Bobokalonzoda speaks Tajik, Russian, English and German languag- es.

11. One of the economies witnessing swift expansion Belarus is a landlocked coun- try in Eastern Europe that borders Latvia, Lithuania, Poland, Russia, and Ukraine. Belarus is generally flat, and forty per cent is forested with marsh- land. Belarus defines the economic system as market socialism, but it is most similar to a planned economy in which the central government directs the economy regarding the production and distribution of goods. Belarus is a member of the Eurasian Economic Union (EAEU). Factors contributing to this expansion could include favorable government policies, investments in infrastructure and technology, growing exports, and increasing foreign investment. Belar- us is becoming increasingly integrated into the global economy and is attract- ing attention as a promising destina- tion for business and investment. Belarus in comprehensive partnership, facili- tated by mechanisms such as Foreign Office Consultations and Joint Com- mission on Military Technical Coop- eration. Significant bilateral agreements and memoranda of understanding cover various domains including trade, culture, education, media, tourism, science & technology, agriculture, textiles, taxation, investment promo- tion, and defense. High-level visits between the two countries further strengthen ties, exemplified by Presi- dent’s historic visit to Minsk in 2015, which facilitated the signing of six MoUs and the announcement of a $100 million line of credit to Belarus. Belarus consistently supports India on international platforms such as the United Nations Security Council, while India reciprocates by endorsing Belarus's aspirations in international fora. Bilateral trade shows promise with initiatives like the Advance Research Centre for Powder Metal- lurgy, contracts awarded to Indian companies, and collaborations in various sectors including mining, technology, and pharmaceuticals. The bilateral cooperation extends beyond trade and diplomacy into cultural exchange. reforms aimed at improving the business environment and enhancing transparency further bolster the coun- try's appeal to investors. Information Technology- Strong educational traditions in engineering and software were established in the country back in the Soviet times. These professionals would become the driving force behind the most advanced projects and innovations in the country. Manufacturing and Engineering- The main drivers of economic growth in Belarus last year were manufactur- ing, construction and trade. The manufacturing industry grew by 7.7% in 2023. This growth mostly came on the back of mechanical engineering. The output of a number of products was the highest in the past five years. Agribusiness- Per capita agricultural output in Belarus is on the level with the developed countries and in many aspects surpasses results of the CIS countries. Renewable Energy- Through the increased deployment of renewable energy technologies, Belarus would be able to increase its domestic energy supply, which would have a direct contribution towards the country's gross domestic economic growth and energy sector security. Logistics and Geographical position of Belarus determined its role as an important transit hub in Eastern Europe. Belarus Bilateral Relations India and Belarus share a long-stand- ing and robust relationship character- ized by warmth and cordiality. India was among the first countries to recognize Belarus's independence in 1991, leading to the establishment of formal diplomatic ties and the open- ing of diplomatic missions in Minsk and New Delhi in 1992 and 1998, respectively. The two nations engage product (GDP), Business Opportunities With its strategic location in Europe and well-developed infrastructure, Belarus serves as a gateway to the Eurasian Economic Union, providing access to a market of over 180 million consumers. Additionally, ongoing Transportation-

12. is located at the crossroads of major transport routes and connects West- ern Europe with the countries of the East, as well as the Black Sea region with the Baltic Sea region. tered in the database of the Unified State Register of Legal Entities and Individual Entrepreneurs cannot be agreed upon. The tips below will help avoid denial of name approval: – Do not use the word “Belarus” in the name of the company; – Do not use the word “Minsk” in the name of the company; – Do not use the pseudonyms of famous persons, as well as the names of legal entities containing abbrevia- tions that match the generally recog- nized ones; – Do not use names containing words in an excellent degree of comparison, as well as names that allow you to position a legal entity as a leader in a particular industry (field of activity) based on its name, such as “best”, “first”, “only” and so on , in any kind, case, number. Registering your Business or Com- pany in Belarus Today, opening a company in Belarus has become much easier than it was five years ago. Approval of the name of a legal entity 1) Fill in the documents and arrive at the registration authority in person (or by proxy) to agree on the name; 2) Online through the USR website: http://egr.gov.by/egrn/index.jsp?con- tent=cGetName 3) Send documents by mail. If you are creating a new company, then only the founder or his represen- tative by proxy can agree on the name. If the founder of a new compa- ny is a legal entity, then the director of this company, or its representative by proxy, can agree on the name on his behalf. If the founder of the company will be a foreign citizen, he must also have a notarized translation of his passport with him. The approval of the company name has its own rules and legal regula- tion. Names that are already regis- Mr. Aliaksandr Matsukou Consul General of the Republic of Belarus to the Republic of India Mr. Aliaksandr Matsukou is the Consul General of the Republic of Belarus in Mumbai. He is the first CG of Belarus in Mumbai in the history of diplomatic relations between Belarus and India. He assumed duties in Mumbai in December 2023. He has more than 14 years of diplomatic experience. Prior to working in Mumbai, he worked in Belarusian embassies in Molodva, Turkmenistan and France. Official name of Belarus – Republic of Belarus Capital City – Minsk Top Exports - Potassic Fertilizers, Refined Petroleum, Rapeseed Oil, Sawn Wood, and Tractors Top Imports - Cars, Packaged Medicaments, Light Knitted Fabric, Video Displays, and Motor vehicles; parts and accessories Rubberized

13. ing between India and Iran. Major Indian imports from Iran include crude oil, inorganic/organic chemicals, fertil- izers, plastic and articles, glass and glassware, natural or cultured pearls, precious or semiprecious stones, leath- er, etc. Agricultural imports from Iran comprise of almonds, pistachios, dates, and saffron, etc. Indian exports to Iran are machinery and instruments, electrical, electronic vehicles other than railway, tramway, plastics and plastic articles, optical, photo and technical pharmaceutical products, vegetable fats and oil, ceramic products and pearls, and precious stones. A swiftly expanding economic force equipment, apparatus, animal Iran Iran with unique geographical location at the heart of a cross-road linking the Middle East, Asia and Europe is empowered by inter and trans-regional trade, customs, tax and investment arrangements. Due to its strategic location at the intersection of the North and South Atlantic, the nation serves as a transit hub for these routes and is hence significant to the global economy. Iran's economy has grown to become one of the major oil reserves in the Middle East. sidelines of the SCO Heads of State Summit in Samarkand, Uzbekistan in September 2022. Other high-level visits include-Prime Minister Pandit Jawaharlal Nehru visited Iran in September 1959. Prime Minister Smt. Indira Gandhi visited Iran in April 1974 and Prime Minister Shri Morarji Desai visited in June 1977. Prime Minister Dr. Manmohan Singh visited Iran to attend the 16th Nonaligned Movement (NAM) summit held in Tehran on 26-30 August 2012. Business Opportunities Iran has abundant energy resources, particularly in the oil and gas sector. Iran, a land of diverse culture and abundant resources, presents a myriad of opportunities for businesses seeking expansion and success. Following are some of the business opportunities in Iran:- Energy & Petrochemical: The Iranian petrochemicals industry stands as a beacon of economic potential, surpass- ing even the oil and gas sector in terms of opportunities for growth and devel- opment. By 2040, the demand for polymer and petrochemical goods in Iran is expected to increase by up to 4.5 percent yearly. India and Iran are important trade partners. India has been among Iran’s five largest trade partners in recent years. Major Indian exports to Iran include rice, tea, sugar, pharmaceuti- cals, manmade staple fibres, electrical machinery, artificial jewellery etc. while major Indian imports from Iran consist of dry fruits, inorganic/organic chemicals, glassware, etc. Bilateral Relations India and Iran relations span centuries marked by meaningful interactions. The two countries shared a border till 1947 and share several common features in their language, culture and traditions. Both South Asia and the Persian Gulf have strong commercial, energy, cultural and people-to-people links. The relation continues to grow further marked exchanges, commercial and connec- tivity cooperation, cultural and robust people-to-people ties. India and Iran signed a friendship treaty on 15th March 1950. The visit of Prime Minister Shri Atal Bihari Vajpayee to Iran and the signing of the Tehran Declaration in April 2001, followed by the visit of President Seyyed Mohammad Khatami and the signing of the New Delhi Declaration in 2003 deepened the India-Iran coop- eration. Prime Minister Modi and President Raisi met for the first time on the Infrastructure Development: The construction sector is a vital compo- nent of the economy in Iran, providing employment opportunities supporting the development of the Iran’s vast untapped hydrocarbon reserves and India’s ever-growing energy consumption form the basis of India-Iran economic cooperation. However, the two countries are also interested in strengthening their regional connectivity infrastructure to bolster trade and commerce. Iran’s geographical location offers India a gateway to Afghanistan and Central Asia through the India-invested Chabahar Port as well as access to global markets in Europe and Russia via the International North-South Transportation Corridor (INSTC). These infrastructural linkages hold key to expanding trade and invest- ment prospects in the region, includ- and by high-level Official name of Iran - Islamic Republic of Iran Capital City – Tehran Top Exports - Ethylene Polymers, Refined Copper, Acyclic Alcohols, Raw Aluminum, and Petroleum Gas Top Imports - Broadcasting Equip- ment, Corn, Soybeans, vehicles; parts and accessories, and Rice Motor

14. also there must be two inspectors. Limited Liability Company A limited liability company consists of at least two shareholders. If you want to get a loan, participate in tenders, and cooperate with import- ant organizations, a private joint stock company is the best choice. country's infrastructure. The govern- ment of Iran has implemented policies to support the growth and development of the sector, including incentives for local and foreign investment, subsidies for housing construction, and the development of new urban centres. Required Documents and Licenses. There are different documents and licenses that are required during the company registration process and the most important ones are as follows: 1. The first is the “FIDA Code,” which identifies legal entities and natural persons. Simply put, all foreigners (natural or legal) must get the “FIDA Code” to be involved in any commer- cial practice in Iran. 2. The next is the “Commercial Card”. All individuals, whether natural or legal, must possess the Iranian import authorization known as the Commercial Card to engage in overseas commerce of commodities in Iran. After the Ministry of Indus- tries, Mine, and Trade has given permission, the Iranian Chamber of Commerce issues import licenses. The general manager will receive the License, which has a one-year expiration date and is renewable yearly. 3. The last but not least important is the License obtained from the appli- cable ministries. (Each company must obtain a license from the relevant organization based on its activity.) Dr. Davoud Rezaei Eskandari Consul General of Iran to Mumbai, India Automobile Industry: The Iran Automobile Industry Market size is estimated at USD 37.96 billion in 2024, and is expected to reach USD 59.93 billion by 2029. The Iranian automotive industry would be one of the Top 15 in the World, considering the huge local production and the Iranian rule in the Middle East. H.E. Dr. Davoud Rezaei Eskandari is the Consul General of the Islamic Republic of Iran in Mumbai. His appointment to this esteemed role took effect on February 15, 2024. He served diligently in various capacities, notably as a senior officer in the Foreign Minister’s office and within the embassies of the Islamic Republic of Iran in Austria and Brazil. Additionally, his tenure in the secretariat of the Islamic Republic of the Economic Cooperation Organization (ECO) further underscores his commitment to fostering international coopera- tion and diplomacy. Information and Communication: In 2016, Iran implemented the Joint Comprehensive Plan (JCPOA), leading to the lifting of some international sanctions. The government-initiated encourage foreign companies to invest in Iran's ICT industry, led to collaborations and partnerships with international tech firms. of Action policies to Tourism and Hospitality: When it comes to hospitality, generosity and kindness, the people of Iran rank at the top of the list. Iranian people’s hospitality is famous. There are many attractive places in Iran such as Isfah- an, Tabriz, Malard and many more city beautiful places. Registering your Business or Com- pany in Iran Company Formation in Iran Registration of company in Iran requires constant legal support. Most of the non-resident businesses in the country is subject to tax on an equal basis with citizens of the state, but there are free economic zones. Private Joint Stock Company A private joint stock company is set up with at least three partners and

15. Central Asia A Land of Geopolitical Significance Central Asia is a mosaic of cultures, languages, and traditions, shaped by centuries of interaction and exchange. Each country in the region has its unique cultural heritage, from the nomadic traditions of the Kazakhs to the architectural marvels of Samarkand in Uzbekistan. The legacy of great scholars like Avicenna and Al-Farabi underscores the region's historical contributions to science, philosophy, and literature. In recent times, Central Asia has emerged as a significant player in global geopolitics, owing to its strategic location, valuable resources, and growing economic potential. Central Asia's geopolitical significance stems from its strategic location between Europe, Asia, and the Middle East. It shares borders with Russia, China, Iran, and Afghanistan, making it a vital nexus for regional power dynamics. The abun- dance of natural resources, including oil, gas, and minerals, further amplifies its importance on the global stage. The countries of Central Asia are endowed with vast reserves of natural resources, making them attractive destinations for foreign investment. Kazakhstan, for instance, is one of the world's leading producers of oil and uranium, while Uzbekistan boasts significant cotton production. Efforts to diversify economies beyond resource extraction and enhance regional connectivity through infrastructure projects like the Belt and Road Initiative are underway, promising new avenues for economic growth. Regional initiatives like the Shanghai Cooperation Organization (SCO) and the Eurasian Economic Union (EEU) aim to enhance economic integration and security cooperation among member states. Moreover, growing engagement with exter- nal actors, including China, Russia, and the European Union, presents avenues for mutual benefit and development. As Central Asia navigates the complexities of the 21st century, it stands at a crossroads of challenges and opportunities. Harnessing its rich cultural heritage, abundant resources, and strategic location, the region has the potential to emerge as a beacon of stability, prosperity, and cooperation in an increasingly interconnected world. By fostering inclusive develop- ment, promoting dialogue, and strengthening regional ties, Central Asia can chart a course towards a brighter future for its people and the global community alike. 2024 17 www.thebusinesstycoons.com www.gibf.

16. One of the economies showing remarkable growth Mongolia Mongolia, renowned for its isolation and revered hero Genghis Khan, has cultivated a distinct identity despite its geographical squeeze between Russia and China. Despite being the 19th largest country global- ly, its population of under 3 million, mostly concentrated in the capital, renders it the most sparsely inhabited independent nation. visited Mongolia and declared it as an essential component of ‘Act East Policy’. Defence Cooperation: Joint defence exercises code-named Elephant. India is also an active participant in an annual weeklong joint training exercise called the Khaan Quest, hosted by Mongolia. Business Opportunities Mongolia has a growing market and great export opportunities open for investors from different countries. It can be as a huge Launchpad for inves- tors to enter China’s or Russia’s market as well as a good gateway to other markets. Mongolia has an odd competitive position in a specific sector because of the growing interest in the global market in ecologically pure products. Nomadic International Cooperation: Mongo- lia has publicly reiterated its support for India’s membership to the perma- nent seat of the expanded United Nations Security Council (UNSC). India has played an important role in getting Mongolia membership to key international forums, including the United Nations (UN), despite strong opposition from China and Taiwan. India also championed the inclusion of Mongolia in the Non-Aligned Movement. In a reciprocal gesture, Mongolia co-sponsored a 1972 UN resolution with India and Bhutan for the recognition of the newly liberated Bangladesh. Recent discoveries of extensive gold and coal deposits in the Gobi Desert have sparked heightened global interest, leading to a surge in foreign investment and rapid development, particularly in Ulaanbaatar. Over the past decade, the mining sector has dominated Mongolia's economy. Mining and Resources- Mongolia's dependence on mining has intensified in recent decades. Following the discovery of major coal deposits and gold-copper ore in the early 2000s, its economic significance surpassed that of the traditional livestock sector. Economic Cooperation: In 2022, an India-built oil refinery at the cost of more than USD 1 billion and with a capacity of 1.5 million metric tonnes was opened near Sainshand in south- ern Dornogovi province of Mongolia. Cultural Cooperation: India-Mongolian Cultural Cooperation, signed in 1961, has governed the Cultural Exchange Programme (CEP) between the two countries. The Agreement envisages co-operation in the fields of education by way of scholarships, exchange of experts, participation in conferences, etc. Bilateral Relations India and Mongolia have interacted through Buddhism throughout histo- ry. Mongolia regards India as its “third” neighbour along with US, Japan, and Germany and a “spiritual neighbour”. Infrastructure Enhanced by the mining boom, government spending on new Development- The on Agreement Diplomatic Relations: India estab- lished diplomatic relations with Mongolia in 1955 and it was the first country outside the Soviet bloc to open diplomatic Mongolia. The Mission in Ulaanbaatar was opened in 1971. This relationship was upgraded to “strategic partnership” in 2015 when the Indian Prime Minister relations Indian with Resident

17. companies in Mongolia. Peculiari- ties. • Minimum number of shareholders is one either natural or legal person. • The company can operate in the presence of at least one director. He should be a natural person. • Foreign person to be appointed to the position of Director-General shall have a residence permit. Otherwise, it is necessary to appoint a resident of Mongolia. • Registration office is required. Minimum share capital shall be $ 100,000. • It is necessary to give further effect to the certificate of registration of offshore company in Mongolia annu- ally. • For successful completion of the registration process, it is also needed to provide data about participants, types of activities of the company, select bank for opening an account. • Legal address shall be put on the single Register of Mongolia. • Registration of off shore company in Mongolia can take place without direct participation of the founders by power of attorney. Registration of office in Mongolia. Main provi- sions. • Pursuit of separate economic activi- ties is prohibited. The company can only represent the interests. In practice, branches are not registered in Mongolia. • For successful completion of the registration procedure, it is necessary to submit constituent documents, select bank and announce number and types of accounts to be opened, etc. The documents should be notarized and translated into Mongo- lian. • Legal address shall be put on the single Register in Mongolia. infrastructure increased 35-fold in the past 10 years. Tourism and Hospitality- Mongolia sees tourism as the most viable way to diversify its economy. It has set a goal of welcoming at least 1 million foreign tourists and earning USD 1 billion from tourism in the coming years. Agriculture and Agribusiness- The agriculture and agribusiness sector in Mongolia is experiencing growth due to a growing demand for agricultural products domestically, driven by population growth and changing dietary preferences. government initiatives and invest- ments in modernizing agricultural practices and infrastructure are boosting productivity and efficiency. Lastly, Mongolia's vast untapped arable land presents significant opportunities for expansion and investment in agriculture, attracting both domestic and foreign interest. in Mongolia has Ambassador of Mongolia to India H.E. Mr. Ganbold Dambajavyn Secondly, Ambassador Extraordinary and Plenipo- tentiary of the Mongolian People's Republic to the Republic of India H.E. Mr. Ganbold Dambajavyn is the Ambas- sador Extraordinary and Plenipotentiary of the Mongolian People's Republic to the Republic of India. He is also Ambas- sador-Designate of Mongolia to the Kingdom of Bhutan and Ambassador of Mongolia to the Republic of Maldives. He has a B.A. in foreign service from the National University of Mongolia, Master’s degree in Linguistics from the Science and Technology University of Mongolia, and Diplomacy from the Ministry of Foreign Affairs, Russian Federation. He also attended various courses, specifically in international affairs and regional security exchange programmes in political science. He held different positions in foreign minis- try of Mongolia, including permanent mission of Mongolia to the United Nations. Renewable Energy- By increasing the share of energy from renewable representative Official name of Mongolia – The Mongolian People’s Republic Capital City – Ulaanbaatar Top Exports - Coal Briquettes, Copper Ore, Gold, Animal Hair, and Iron Ore Top Imports - Refined Petroleum, Cars, Delivery Trucks, Trailers and semi-trailers, not propelled vehicles, and Raw Iron Bars mechanically Mongolia sources, Mongolia can significantly reduce greenhouse gas emissions and contribute to global efforts to limit temperature rise. Registering your Business or Com- pany in Mongolia Forms of doing business It is possible to register or buy an offshore company in Mongolia in the form of: - Limited Liability Company (LLC); - Representative office. Registration of LLC offshore

18. Tracing the Legacy of the Silk Road one factor in making this plan a reality. Agriculture - Agriculture plays a crucial role in the Uzbek economy, employing approximately over a quarter of the workforce. Half of the nation's population resides in rural areas. For these reasons, agricultural development and diversification are key USAID priorities in Uzbekistan. Education - The education sector in Uzbekistan is witnessing growth due to several factors. Firstly, govern- ment reforms aimed at modernizing the education system and increasing access to quality education have stimulated growth. partnerships with institutions and organizations have facilitated knowledge transfer and the adoption of best practices. Lastly, a growing emphasis on skills devel- opment and vocational training to meet the demands of a rapidly evolv- ing economy has fueled investment and innovation in the sector. Uzbekistan Secondly, international Uzbekistan, located in Central Asia and formerly a Soviet republic, is famous for its mosques, mausole- ums, and other attractions connected to the Silk Road, an ancient trade route spanning from China to the Mediterranean. Samarkand, a signifi- cant city along this route, boasts the Registan, an iconic symbol of Islamic architecture. The Registan comprises a plaza bordered by three elaborately adorned religious schools dating back to the 15th and 17th centuries. Shanghai Cooperation Organization (SCO). In September 2019, India and Uzbekistan signed a Joint Statement to initiate a joint feasibility study for potential negotiations towards a Preferential Trade Agreement (PTA). President Shavkat visited India from September 30 to October 1, 2018 when 17 Agree- ments/Memorandums standing (MoUs) were signed, cover- ing various areas including science and technology cooperation, agricul- ture, tourism, military education, justice, healthcare, pharmaceuticals, space exploration, and others. Presi- dent Mirziyoyev also attended the Vibrant Gujarat Summit as a Guest of Honour in January 2019. Mirziyoyev Energy efficiency and cleantech - Its current aging fleet of thermal power plants is inefficient and results in high gas consumption, avoidable CO2 emissions, and low renewable integration. This project supports Uzbekistan's clean energy transition. of Under- It is among the world’s leading cotton producers. It is known for its orchards and vineyards and is also important for raising Karakul sheep and silkworms. Besides, there are vast mineral and oil and gas reserves. Uzbekistan produces and exports a large volume of natural gas. Mining water supply - The mining and water supply sector in Uzbeki- stan is experiencing growth due to several factors. Firstly, the country possesses significant reserves, particularly in gold, urani- um, and copper, attracting investment and driving exploration extraction activities. Secondly, with increasing industrialization urbanization, there's a growing demand for water supply infrastruc- ture to support mining operations and urban development. Lastly, govern- ment initiatives aimed at moderniz- ing water supply systems and promoting sustainable mining Business Opportunities Uzbekistan presents diverse business prospects across several sectors, including solar energy, agriculture, education, energy cleantech, mining, and water supply. The country's abundant sunlight makes it ripe for investment in solar energy projects, while its fertile land offers opportunities for agricultural ventures. The education sector is burgeoning, with a growing demand for quality education and training services. mineral and Bilateral Relations India and Uzbekistan share bilateral relations that encompass various aspects including political, econom- ic, cultural, and strategic coopera- tion. Diplomatic ties between the two nations have strengthened over the years, with frequent high-level visits and exchanges. Prime Minister Shri Narendra Modi travelled to Uzbekistan on July 6-7, 2015, where he engaged in bilateral discussions with the then President Islam Karimov aimed at enhancing the strategic partnership between the two nations. In June 2016, PM Modi visited Uzbekistan again, attending a meeting of Heads of State of the efficiency, and Solar energy - Uzbekistan has an average of 330 sunny days a year and the potential for solar energy is huge. Uzbekistan has set an ambitious goal - to generate 30% of its electricity from renewable energy sources by 2030. Harnessing the sun's energy is

19. practices contribute to the sector's expansion. Registering your Business or Com- pany in Uzbekistan Sole proprietorship - Uzbekistan’s Constitution states that individuals 18 years or older are eligible to regis- ter for a sole proprietorship in Uzbekistan. Uzbekistan’s constitu- tion guarantees legal protection to all citizens within and abroad, and foreign citizens are guaranteed certain rights and freedoms while staying within the country’s territory. There are no set restrictions on the nationality of the sole proprietor, and both the citizens of Uzbekistan and foreigners can set up a sole propri- etorship in Uzbekistan. Limited Liability Company • Setting up an LLC in Uzbekistan can be achieved by one director and one shareholder. While the share- holder can be of any nationality, the director must be a Uzbek resident; • The minimum share capital for an LLC is approximately US$1,800 (or 40 times the monthly minimum wage). Moving forward with company regis- tration in Uzbekistan, the following steps are typically required: 1. Select a Unique Company Name: Choose a distinctive name for your company and verify its availability through the State Register or relevant authorities in Uzbekistan. 2. Authenticate Company Docu- ments: Authenticate company documents, such as articles of association and office lease agree- ments, at the authentication and registration office under the Ministry of Justice. 3. Obtain a Tax Identification Number (TIN): Apply for a Tax Identification Number from the State Tax Committee or relevant tax authority in Uzbekistan. 4. Register Commercial Registration Certificate: Apply for and obtain a commercial registration certificate from the State Register or Ministry of Justice, confirming the legal estab- lishment of your company in Uzbeki- stan. 5. Procure a Company Seal: Obtain an official company seal, which may be required for legal transactions and documentation in Uzbekistan. 6. Register with Pension Funds: Register your company and employ- ees with the relevant private or state pension fund, as per legal require- ments in Uzbekistan. 7. Register for Value-Added Tax (VAT): Register your company for VAT with the State Tax Committee or relevant tax authority, if applicable to your business activities in Uzbeki- stan. 8. Publish Trade Name: Advertise your trade name in a designated nationwide newspaper to announce the establishment of your company in Uzbekistan. 9. Secure Business License: Apply for and obtain a business license from the Ministry of Economy or Ministry of Justice, demonstrating compliance with regulatory requirements in Uzbekistan. 10. Install Cash Machine (CRM): If your company's annual revenue exceeds a certain threshold, install a cash registration machine for accurate reporting and tax compliance in Uzbekistan. Official Name - The Republic of Uzbekistan Capital City – Tashkent Top Exports – Gold, Non-Retail Pure Cotton Yarn, Petroleum Gas, Refined Copper, and Silver Top Imports - Motor vehicles; parts and accessories, Packaged Medicaments, Cars, Wheat), and Refined Petroleum Registration financial H.E. Sardor Mirzayusupovich Rustambaev Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Republic of India H.E. Sardor Mirzayusupovich Rustambaev is the Ambassador of the Republic of Uzbekistan to India. He has bachelor's degree from the University of Birmingham and multiple master's degrees from the Tashkent State Institute of Oriental Studies and the University of London. necessary His diplomatic career commenced in 2000 within the Ministry of Foreign Affairs of Uzbekistan, gradually ascending through various roles including postings in the UK and service as Head of the Shanghai Cooperation Organiza- tion (SCO) and CIS Department. His tenure as Ambassador to France from 2018 to 2023 was marked by significant contributions to strengthening bilateral relations between Uzbekistan and France. His diplomatic proficiency extends to multilateral affairs, demonstrated by his role as a Senior Expert at the SCO Secretariat and Head of the SCO and CIS Department within the Ministry of Foreign Affairs. He is fluent in English, Russian, and French. In his current role as Ambassador to India, Ambassador Rustambaev is poised to further strengthen ties between Uzbekistan and India. With his extensive experience and deep understanding of international relations, Ambassador Rustambaev is well-equipped to navigate the complexities of diplomatic engagement and contribute to the mutual prosperity and development of both Uzbekistan and India.

20. Characterized by rapid growth modation, shopping, and leisure activities, injecting revenue into the local economy. dining, transportation, Information and Communication Technology - Azerbaijan's ICT sector has been expanding rapidly – at an average rate of 25-30% per year since 2005 – stimulated largely by telecom- munications liberalization, modern- ization and extension of the national telecom infrastructure, and imple- mentation of e-government, among other sector-specific policies. Azerbaijan jan and Iran. India-Azerbaijan relations are friend- ly and growing. Hon’ble Vice Presi- dent of India, Mr. M. Venkaiah Naidu, visited Baku for the NAM Summit from 24-26 October 2019, accompanied by Hon’ble External Affairs Minister Dr. S. Jaishankar, former External Affairs Minister of India. Finance Minister Mr. Arun Jaitley visited Baku in May 2015 to attend the Annual General Meeting of the Board of Governors of Asian Devel- opment Bank. Agriculture Azerbaijani produce has strong brand recognition in post-Soviet markets and often sells at a premium. The government supports the agricultural sector through grants, tax exemptions, and subsidies pesticides, and fertilizers. and Agribusiness Azerbaijan is a small nation located in the Caucasus region, strad- dling Europe and Asia. Azerbaijan has significantly reduced the poverty rate and has directed some revenue from its oil and gas production to develop the country’s infrastructure. Azerbaijan has one of the highest energy self-sufficiency ratios in the world as a major crude oil and natural gas producer. The government is now looking to stimulate investment and accelerate deployment, allowing for diversification of domestic energy consumption. for machinery, Registering your Business or Com- pany in Azerbaijan Company Registration in Azerbaijan is the process of state registration of a business entity planning to start business activities within the country. Limited Liability Company (LLC): A limited liability company is a compa- ny established by one or more persons (individuals and (or) legal entities), the authorized capital of which is divided into shares of sizes deter- mined by the charter. Open Joint Stock Company (OJSC): A joint stock company, the participants of which can alienate their shares without the consent of other share- holders, is recognized as an open joint stock company. Closed Joint Stock Company (CJSC): A joint stock company, the shares of which are distributed only among its founders or other predetermined circle of persons, is recognized as a closed joint stock company. Business Opportunities Azerbaijan offers several business opportunities. Some of the important ones include - Energy - Azerbaijan is a major producer of crude oil and of natural gas. Because of its considerable hydrocarbon production, Azerbaijan has one of the world's highest energy self-sufficiency ratios, with produc- tion exceeding demand almost four times. Infrastructure Development - The Azerbaijan construction market size was $8.7 billion in 2022. The growth of the market will be supported by the government's plans to develop hydropower plants, infrastructure, and industrial zones in the liberated territories. transport Bilateral Relations India and Azerbaijan have friendly relations and growing bilateral coop- eration based on civilizational linkag- es, cultural affinities and shared values of understanding and respect for other cultures. Azerbaijan is an important player in INSTC route connecting India with Russia and Europe through Azerbai- Tourism and Hospitality - The influx of tourists attracted by the improved hotel infrastructure has resulted in increased tourism spend- ing. Visitors spend money on accom-

21. Subsidiary Business Company: A business company is subsidiary if main business company or partner- ship, due to a predominant participa- tion in its authorized capital or in accordance with concluded between them, has the opportunity to decisions made by such company. Dependent Business Company: A business company is recognized as dependent if another (predominant, participating) partnership or compa- ny has more than twenty percent of the authorized capital of a limited liability company or twenty percent of the voting shares of a joint-stock company. Full partnership: A full partnership is a partnership whose participants (general partners), in accordance of the company (LLC in Azerbaijan): • provided by the Ministry of Taxes (registration authority entities). This document needs to be notarized. • Incorporation documents – Charter of a company, Resolution of Shareholders on the establishment of LLC and appointment of legal repre- sentative. • Information about the share- holders, founders – IDs, passports of founders, where the owners (share- holders) are foreign legal entities, Articles of Association, Memoran- dum, and Certificate from trade registry are required. • Notarial consent of the legal representative where the shareholder does not hold the position of the legal representative (director) of the company. • Receipt evidencing payment of state registration fee and charter capital – official registration fee for new LLC is 11 manats (AZN) and must be paid in advance before incor- poration. State duty for registration of representative offices and branch- es of foreign legal entity is 220 manats (AZN). The charter capital must be paid within 3 months of company registration. Application Form – Form of legal an agreement determine the H.E. Elchin Huseynli Ambassador of the Republic of Azerbaijan to the Republic of India Mr. Elchin Huseynli is Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to the Republic of India. Ambassador E.Huseynli is a career diplomat with extensive experi- ence in foreign policy spanning over 20 years. Prior to his assignment to India Ambas- sador E. Huseynli served as Chief of Division in the Foreign Policy Affairs Department of the Administration of the President of Azerbaijan from 2020 to 2023. Before that he was Senior Advisor in the Secretariat of the First Vice-Presi- dent of Azerbaijan between 2017 and 2020. He started his diplomatic service in the Ministry of Foreign Affairs of Azerbaijan in 2002. He had overseas assignments in the permanent missions of Azerbaijan to the Organization of Security and Cooperation in Europe in 2005-2009 and to the United Nations in 2012-2014. In New York he was also a member of the delegation of Azerbaijan during the country’s non-permanent membership to the UN Security Council in 2012-2013. Official name of Azerbaijan - The Republic of Azerbaijan Capital City –Baku Top Exports - Crude Petroleum, Petroleum Gas, Refined Petroleum, Nitrogenous Fertilizers, and Gold Top Imports - Cars, Refined Petroleum, Crude Petroleum, Wheat, and Packaged Medicaments Steps – - (Mobile Signature) for the legal representative (Director); - Obtaining of corporate seal for the company; - Opening of bank account upon submitting a copy of tax certifi- cate to the selected bank via the e-taxes system; - Registration of the legal representative's (Director's) employ- ment agreement at the state registry of employment agreement notices. Obtaining of ASAN Imza Ambassador E.Huseynli earned his BA and MA degrees in international relations from the Baku State University in 2001 and 2003 respectively. He also successfully underwent professional courses in the George C. Marshall Euro- pean Center for Security Studies (Octo- ber-December 2003, Garmisch-Parten- kirchen, Germany), the Foreign Service Training Center under the Turkish Min- istry of Foreign Affairs (September-No- vember 2004, Ankara, Türkiye), the Geneva Center for Security Policy (January-March 2005, Geneva, Switzer- land) and the Advanced Foreign Service Program of ADA University (September-December Azerbaijan). with the charter, engage in entrepre- neurial activities on behalf of the partnership and are liable for its obligations with the property belong- ing to them. Limited partnership: This is a partnership in which, along with the participants who carry out entrepre- neurial activities on behalf of the partnership and are liable for the obligations of the partnership with their property (general partners), there are one or more participants – investors (limited partners) who bear the risk of losses associated with activities of the partnership, within the limits of the amounts of contribu- tions made by them and do not take part in the entrepreneurial activities of the partnership. The following documents are neces- sary to complete formal registration 2015, Baku, He is a recipient of the Presidential Medal for Distinction in Public Service in 2021.

22. A Snapshot of Geography, Culture, and Iconic Landmarks Kazakhstan Kazakhstan is a Central Asian country and former Soviet Republic. It extends from the Caspian Sea in the west to the Altai Mountains at its eastern border with China and Russia. Almaty, its largest metropolis is a long-standing trading hub whose landmarks include Ascension Cathe- dral, a tsarist-era Russian Orthodox Church, and the Central State Museum of Kazakhstan, displaying thousands of Kazakh artifacts. India relations were enhanced to strategic partnership during this visit. President Kassym-Jomart Tokayev participated in the First India-Central Asia Summit in virtual format hosted by India on 27 January 2022. and Kazakhstan bilateral Secondly, Kazakhstan's vast arable land, coupled with favourable climate conditions, presents opportunities for expanding agricul- tural production. Lastly, increasing demand for agricultural products, both domestically and internationally, further drives the growth of the sector. significant Prime Minister of India Shri PV Narsimha Rao visited Kazakhstan in 1993 and Prime Ministers Shri Atal Bihari Vajpayee in June 2002, Dr. Manmohan Singh in April 2011 and Shri Narendra Modi in July 2015 (bilateral visit) and June 2017 (SCO summit). Infrastructure Business (BMI), schemes, rising oil prices, and exter- nal multilateral companies will be the decisive factors construction sector growth in Kazakh- stan over the next five years. - According Monitor economic to International diversification Kazakhstan’s economy is the largest in Central Asia. Since the 2000s, Kazakhstan has seen impressive economic growth with first generation of market-oriented reforms, abundant mineral resources extraction, and strong foreign direct investment (FDI). fuelling robust Business Opportunities Kazakhstan business opportunities in agriculture, infrastructure, transport & logistics, healthcare, and ICT sectors. With vast arable land, modernizing farming practices and ventures can yield significant returns. Infrastructure development - includ- ing roads, railways, and ports, offers avenues for investment and growth. The country's strategic location as a transit route between Europe and Asia enhances prospects in transport and logistics. presents promising Transport & Logistics - Kazakh- stan's transport and logistics sector is poised for significant positioning the country as a vital link between East and West, and North and South. Despite global challenges, Kazakhstan is well-positioned to provide efficient and convenient transportation solutions for interna- tional trade. growth, Bilateral Relations Relations between India and Kazakh- stan can be traced back to more than 2000 years. There has been a constant and regular exchange in goods and, more importantly, exchange of ideas and cultural influences. India was one of the first countries to recognize the independence of Kazakhstan. Diplo- matic relations were established in February 22, 1992. agro-processing Healthcare - Over the 20 years of independence, transformation Kazakhstan's economy, lifestyle, and of Agriculture - The agriculture sector in Kazakhstan is growing due to several key factors. Firstly, govern- ment initiatives and investments aimed at modernizing agricultural practices, improving infrastructure, and supporting increased productivity and efficiency. The first PM of India Pandit Jawahar lal Nehru accompanied by daughter Indira Gandhi visited Almaty in 1955. President Dr. S. Radhakrishnan visited Kazakhstan in 1956. The first President Nursultan visited India in February 1992. Nazarbayev farmers have

23. on average) •Appointing company directors. Resolving migration issues with foreign directors permits). (visas, work Additional non-residents • Company registration process can be launched and proceed up to appointing temporary general direc- tor using power of attorney • Foreign shareholders have to get type 5 visa "Investor" requirements for social system have influenced the burden of both infectious and chron- ic disease and increased demand for health services. ICT - The ICT market in Kazakh- stan, including the telecommunica- tions subsector, presents significant opportunities for growth, driven by government initiatives, increased digitalization, and an increased demand for advanced technologies. H.E. Mr. Zhalgasbayev Nurlan, Ambassador of the Republic of Kazakhstan to the Republic of India H.E. Mr. Nurlan Zhalgasbayev is the Ambassador Extraordinary and Plenipo- tentiary of the Republic of Kazakhstan to the Republic of India. H.E. Mr. Nurlan Zhalgasbayev has been appoint- ed as an Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Democratic Socialist Republic of Sri Lanka, the People's Republic of Bangladesh, the Federal Democratic Republic of Nepal, the Kingdom of Bhutan and the Republic of Maldives concurrently. Born on April 2, 1970 in Alga, Aktobe region, he graduated from Petrozavodsk State University. He began his diplomat- ic career in 1993 in the division of Asian Countries. He worked in the Ministry of Foreign Affairs of the Republic of Kazakhstan in various positions, includ- ing Director of the Department of Multi- lateral Cooperation, the Department of International Organizations and Securi- ty Issues, and the Department of Europe. He worked in the Embassies of Kazakh- stan in Lithuania, Georgia, Norway, Italy and in the Permanent Mission of Kazakhstan to the UN in New York. From 1999 to 2000, he was Deputy Chief of Protocol of the President of the Republic of Kazakhstan. From 2016 to 2019, he worked in the Conference on Interaction & Confidence Building Measures in Asia (CICA). Zhambyl region - Realizing its true economic potential Zhambyl region is one of the most attractive regions of Kazakhstan for foreign direct investment. The region has a steadily developing economy, a growing GRP index, huge industrial potential and many investment opportunities for foreign investors. Investor support is the main priority of the state policy in the field of economic development, thanks to which all the necessary conditions have been created in the region for the successful work of investors and the development of entrepreneurship. The favorable investment environ- ment is confirmed by the interest and presence in Zhambyl region of foreign investors from more than 15 countries, including France, People's Republic of China, Russian Federation, Netherlands, Japan, Czech Republic, Italy,Iran, UAE, Malaysia, etc. Using an advantageous geographical location, resource and agricultur- al-industrial potential, a developed diversified economy competitive advantages of the region, investors can become major suppliers of export-oriented and high-tech products with high added value. Registering your Business or Company in Kazakhstan Procedure for company registration in Kazakhstan (LLP / TOO) • form (JSC, LLP, branch or rep. office) • Getting a business ID and tax ID (if necessary). • Getting a legal address. • Defining the type of activi- ty of the new business • Choosing taxation regime • Selecting company name. In Kazakhstan company name has to be unique and has to be different from the existing company names. In order to use company name in foreign languages companies have to use transliteration into Kazakh and Russian languages. Abbrevia- tions from the Kazakh toponyms are allowed to be used in company names. • Define the sum of share capital considering planned expens- es of the new company. Minimal capital - KZT 100 tenge • Document legalization and apostillation • Preparation of the company bylaws • Registration government authorities and funds (1-3 days on average) • Ordering and receiving company stamp •Bank accounting opening (2 days Choosing an optimal legal Germany, and other translation, Prior to his appointment as the Ambas- sador of Kazakhstan to India, he was the Director of the Department of Multilat- eral Cooperation of the Ministry of Foreign Affairs of Kazakhstan. He holds a diplomatic rank of the Envoy Extraor- dinary and Plenipotentiary of the I-class. with the

24. garment manufacturing companies operating within its borders, the coun- try's clothing industry plays a pivotal role in its economic landscape. A Blend of Ancient Beauty & Modernism Tourism - Armenia is a unique tourism destination with a rich and diverse cultural heritage that provides dynamic opportunities for developing tourism markets. The country features an abundant variety of cultural, natural, and historical sites, six UNESCO World Heritage sites, medi- eval monasteries, churches, and fortresses. Armenia Fruit and vegetable processing - The fruit and vegetable processing sector in Armenia is experiencing growth due to favourable climate conditions and fertile land support the cultivation of high-quality fruits and vegetables; increasing demand for processed food products, both domes- tically and for export, is driving investment in modern processing facilities and technologies; govern- ment support through promoting agribusiness development and export-oriented strategies further stimulates growth in this sector. Armenia is a landlocked coun- try, and former Soviet Republic, in the mountainous Caucasus between Asia and Europe. It is charac- terized by a great variety of scenery and geologic instability. Among the earliest Christian civilizations, it’s defined by religious sites including the Greco-Roman Temple of Garni and 4th-century Etchmiadzin Cathe- dral, headquarters of the Armenian Church. Khor Virap Monastery is a pilgrimage site near Mount Ararat, a dormant volcano just across the border in Turkey. Today's Armenia is the industri- al-agrarian country. The priority belongs to small-scale agricultural production. visits from Armenia in 1995, 2003 and 2017, the last visit was by Presi- dent SerzhSargsyan November 2017. He met President, Prime Minster and Vice President. From India, the highest-ever visit was that of Vice President B. S. Shekhawat in October 2005 and Vice President Hamid Ansari in April 2017. The Armenian Prime Minister Nikol Pashinyan has extended an invitation to India’s Prime Minister to visit Armenia. This invitation was reiterated during the meeting of the two PMs in September 2019 on the sidelines of the 74th UNGA. from 2-4 region policies Renewable energy - Nuclear fuel is imported from Russia. Armenia's energy consumption efficiency is low compared to developed countries. The government has adopted several laws focused on developing domestic, especially renewable, energy resourc- es and implementing energy efficien- cy measures. Business Opportunities Armenia offers compelling business prospects, leveraging its skilled workforce and supportive environ- ment. Some of the important ones include - Bilateral Relations Trade between India and Armenia has seen a notable increase, particularly since 2020-21, including the signing of a MoU between Investment Support Centre of Armenia and Invest India in 2021. Business delegations from India have actively engaged with Armenian counterparts through Armenia Expo and bilateral visits, aiming to foster stronger economic cooperation between the two coun- tries. President Dr. S. Radhakrishnan (September 1964) and Prime Minister Indira Gandhi (June 1976) visited Armenia. After the independence of Armenia, political exchanges have been regular – three Presidential-level IT (Information Technology) - The relatively low cost combined with high levels of productivity of Armenian IT specialists make Arme- nia attractive to foreign investors. The share of the workforce employed in the IT sector grew about 21%, reaching 17,700, which is around 2.5% of the total employment in Armenia. Textile and Garment - Armenia's textile sector stands as a beacon of economic potential, offering a fertile ground for growth and employment opportunities. With several major

25. company documents, such as articles of association and office lease agree- ments, at the authentication and registration office under the Ministry of Justice. 3. Obtain a Tax Identification Number (TIN): Apply for a Tax Identification Number from the State Revenue Committee or relevant tax authority. 4. Register Commercial Registration Certificate: Apply for and obtain a commercial registration certificate from the State Register or Ministry of Justice, confirming the legal estab- lishment of your company. 5. Procure a Company Seal: Obtain an official company seal, which may be required for legal transactions and documentation. 6. Register with Pension Funds: Register your company and employ- ees with the relevant private or state pension fund, as per legal require- ments. 7. Register for Value-Added Tax (VAT): Register your company for VAT with the State Revenue Com- mittee or relevant tax authority, if applicable to your business activities. 8. Publish Trade Name: Advertise your trade name in a designated nationwide newspaper to announce the establishment of your company. 9. Secure Business License: Apply for and obtain a business license from the Ministry of Economy or Ministry of Trade and Industry, demonstrating compliance with regulatory require- ments. 10. Install Cash Machine (CRM): If your company's annual revenue exceeds a certain threshold, install a cash registration machine for accurate reporting and tax compliance. Registering your Business or Com- pany in Armenia There are several entities which you can choose to do a business in Arme- nia. These include – Sole Proprietorship - A sole propri- etor application should contain the passport/ID and its copy, the docu- ment confirming the payment of state duty (payment receipt or payment made through the electronic payment system). Legal partners/founders should sign the application, which must contain the decision of partners/founders on opening the legal entity, the name of the newly established company, the legal form and address, information (passport/ID) regarding the head of the executive body of the legal entity or acting as its head. Partnership - The Partnership Priori- ties seek to strengthen the relation- ship between the EU and Armenia and pursue the promotion of univer- sal values and stability, resilience, security and prosperity built on democracy, human rights, rule of law and sustainable economic growth and openness. Private limited company – • The Armenia LLC requires only 1 director and 1 shareholder of any nationality for incorporation process to be complete. The minimum paid-up capital required is €1; • All LLCs must submit annual audit- ed financial statements to the commercial registry. Entity-All the H.E. Vahagn Afyan Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the Republic of India H.E. Mr. Vahagn AFYAN is an esteemed diplomat serving as the Ambassador Extraordinary and Plenipo- tentiary of the Republic of Armenia to the Republic of India. Born on 1 Febru- ary 1978 in Yerevan, Armenia, Ambas- sador AFYAN has had a distinguished career marked by academic excellence and diplomatic prowess. Ambassador AFYAN's journey began with a Master's degree and postgraduate classes at Tehran University, specializing in Persian Language and Literature. His academic achievements culminated in the award of a PhD degree for his thesis. Prior to this, he completed a comprehensive five-year course in Iranian Studies at Yerevan State University's Faculty of Oriental Studies. He has held various diplomatic positions of significant responsibility. His tenure as the Head of the Bordering Countries Department of the Ministry of Foreign Affairs of the Republic of Armenia showcased his expertise in regional affairs. He has also served as a diplomat in key postings, including Poland, Georgia, and Iran, where he contributed to fostering relations and enhancing diplomatic ties. educational Registration Share company - Share companies operate within a framework governed by the Civil Code, the Law on Business Organizations, and other relevant legislation. Share compa- nies, also known as joint-stock companies, are a popular choice for businesses seeking to raise capital and distribute ownership among shareholders. financial bilateral Official Name of Armenia – The Republic of Armenia Capital City – Yerevan Top Exports – Copper Ore, Gold, Diamonds, Rolled Tobacco, and Ferroalloys Top Imports - Documents of title (bonds etc.) and unused stamps, Cars, Broadcasting Refined Petroleum, and Petroleum Gas Moving forward with company regis- tration in Armenia, the following steps are typically required: 1. Choose a Unique Company Name: Select a distinctive name for your company and verify its availability through the State Register or relevant authorities. 2. Authenticate Company Docu- ments: Authenticate Equipment, necessary

26. Last Corporate Office Office No.16,3rd Floor, Primrose - The Mall, Baner Road, Pune - 411045 Head Office S-357, 1st Floor, Near HDFC Bank, Panchseel Park, New Delhi 110017