Factors of business attractiveness
of Uzbekistan
From early days of independence, leadership of
the Republic of Uzbekistan adopted a policy on
attracting the most advanced technologies and
foreign investments in the country. To this end,
regular and systemic work is carried out to improve
business environment and enhance the country’s
investment attractiveness.
Effective from 1 October 2001, a new simplified
procedure that provides a one-window registration
of enterprises for state registration applies in respect
to enterprises operating in the Republic of Uzbekistan. It also should be noted that the authorized state
bodies come to a decision on the state registration
of a business entity as a legal entity or refusal in
registration within 3 working days.
Measures on improving the investment climate
contribute to the growth of attracted direct foreign
investments into the national economy. For example, in 2015 the volume of attracted foreign capital
has exceeded 3.3 billion US dollars.
Today, nearly five thousand enterprises established with participation of foreign investments,
including the world famous corporations, such
as «General Motors», «MAN», «Knauf», «Itochu»,
«Rieter», «Klaas», «Nestle», «Coca-Cola», «Kogas»,
«Sasol», «Ariston», «CNPC», «Indorama», «Gazprom»,
«Lukoil», «Algie», «Lotte», «Sumitomo», «Korea Telecom» and others have already appreciated the competitive advantages of Uzbekistan and favorable
investment climate of our country.
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With the participation of foreign partners numerous
investment projects on high-tech industries producing
demanded and competitive production for foreign markets have been realized and implemented. Projects such as
the production of cars and engines together with «General
Motors», trucks with «MAN», the construction of Ustyurt
Gas Chemical Complex at Surgil deposit on gas processing
and production of polyethylene and polypropylene, plant
for the production of synthetic liquid fuel based on GTL
technology in Kashkadarya region, organization of fullscale production of modern textile equipment from the
Swiss company «Rieter» and many others are the models
of successful cooperation with foreign partners.
What attracts foreign investors to Uzbekistan?
First, it is political and macroeconomic stability.
Despite global financial downturn, annual GDP growth
of Uzbekistan exceeds 8% over the last 11 years, which
is one of the highest rates in the world. Over the past
decade, the economy of Uzbekistan has doubled.
Since 2005, Uzbekistan maintains a positive
trade balance, government budget surplus and
balance of payments.
Second, an important advantage of our country is that
Uzbekistan is one of the few countries in the world
economy with absolute energy independence.
Uzbekistan possesses huge reserves of minerals and
natural resources. The country occupies leading positions
in the world in terms of gold, uranium, copper, silver, lead,
zinc, tungsten, rare metals and other resources.