25 April 2019

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Uzbekistan in world media
16 Jan  2019 415

Uzbekistan shows clear commitment to make a change

Berlin-based online media bne IntelliNews has published an article “Uzbekistan takes UzRoadShow to Berlin”  on Germany-Uzbekistan Business Forum that took place earlier this week.

 As the media’s Editor-In-Chief, Ben Aris mentions in his story, the World Bank has Uzbekistan as one of the world’s top 10 most active reformers.

It is also noted that Germany-Uzbekistan Business Forum was attended by a lot of German business who shared their positive experience of working in Uzbekistan. MAN Truck & Bus AG has had a joint venture in Uzbekistan to build trucks and buses for more than a decade. The representative of Commerzbank says his institution has been working in Uzbekistan since Soviet days but adds that recently it has become easier to offer credits and the bank is increasing its mandate focusing on SMEs and micro businesses.

It is mentioned that tourism was one of the top spheres proposed for investment and with the latest changes in visa regime this field is going to boom.  The projects in pharmaceuticals, agriculture, food processing, engineering were also interesting for German investors.

“ But these sectors are not the real appeal of the country. Its most attractive resource is its people – something that the new leadership seems to understand. With more than 30mn citizens, Uzbekistan is by far the most populous republic in Central Asia, and it is a young, fast-growing population and it's the only one of the five 'Stans to share a border with all the others. That makes it a natural production and distribution centre for the whole region” – notes bne IntelliNews.

The article mentions the positive investment effect of recent reforms on private ownership of land, and the possibility of gaining an automatic residency visa, as well as liberalization of the currency exchange mechanism, that got into power in 2017.  It is also noted that a “Silk Visaif introduced, would effectively untie the whole region into a single economic union and create an even bigger market.

“The Germany-Uzbekistan business forum was off to a good start. Mirziyoyev has a very ambitious plan. The Uzbek government’s investment programme for 2019 is set to include 3,000 projects worth $16.6bn.[…] Uzbekistan’s clear commitment to make a change, on display in Berlin this week, makes it a convincing proposition”, – resumes  Ben Aris.

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