How Uzbekistan attracted foreign investment?

European network Euronews published a new report revealing the volume of foreign investment within the State of Uzbekistan over the past period and the consequent emergence of advanced and modern industries in the Asian State.

The report stated that international investment had doubled tenfold in Uzbekistan in the past six years. The broad government reforms that began in 2017 have opened up the economy and attracted foreign capital to the Central Asian country, and the number of investors moving their businesses to it is increasing.

The report highlighted Silver Leaf, a joint United States-Uzbek project aimed at growing cotton in the Gizakh region, northeast of Samarkand. The whole process from sowing to harvesting is done using machines at 100 per cent.

This year’s Silver Leaf introduces a new technology in Uzbekistan that will provide a digital footprint for tracking and tracking cotton harvested with machines, and all equipment has been brought from the United States.

The Director was invited to Uzbekistan in 2018 by President Shawkat Mirziyoyev to modernize agriculture and participate in these reforms. In total, his company invested about US $40 million in Uzbekistan.

Over the past five years, the European Bank for Reconstruction and Development has allocated more than 3 billion euros to key sectors within the Uzbek economy, spread over 100 projects.

Sustainable energy is a top priority as the European Bank for Reconstruction and Development provided a loan to one of Uzbekistan’s first privately owned solar plants.

The State has also been the main beneficiary of the European Bank’s financing in Central Asia over the past three years and the plan is to increase investment.