Business opportunities in Uzbekistan

Business opportunities in Uzbekistan

 

According to the World Bank’s statistics in 2015 Uzbekistan ranks 141 position with regard to the ease of doing business (by contrast to 2014 it grew on 8 positions). The evaluation summed up the research of business climate with taking into account different criteria: business setting up, procurement of permits, possibilities of gaining credit, protection of interests, etc.

 

Small and medium enterprises in Uzbekistan develop rapidly. Very often they are met in such sectors as consumer goods manufacturing, agriculture (processing of fruits and vegetables), construction (delivery of materials), service industries (material maintenance).

 

Uzbekistan possesses a substantial agricultural resource potential and has an opportunity to manufacture over 10 million tons of fruit-and-vegetable produce per annum. Fruit-and-vegetable produce in the Republic has unparalleled gustatory qualities. Uzbekistan is famous on markets with its grapes, apples, peaches, pears, sweet cherries, plums, quinces, water-melons, melons, as well as with subtropical cultures such as figs, pomegranates, persimmons, etc.

 

At the same time altogether with introduction of initiatives concerning land distribution and privatization the quantity of the households engaged in agriculture increased. Besides, the diversification of agricultural crop is well put in. The structural changes in land-utilization types following the reengineering of big collective and state agricultures lead to formation of the private farm businesses and widening of small holdings. On account of that the volume of agricultural output grew with considerable productivity gain which ensures a yield increase.

 

One of the promising directions and business opportunities in Uzbekistan is the production of semiconductors, dry-type transformers, lighting halogen electric lamps and integrated microcircuits. There is a manufacturing of nonferrous metals in the country which are an essential stock material for electrical engineering industries.

 

Furthermore, Uzbekistan possesses considerable reserves of structural materials: 198 deposits of brick and tegular earth, as well as limestone, mortar sand, plaster, expanded clay, chalk stone, talcum powder, 76 fields of sand-and-gravel materials, 49 building stone deposits

 

Uzbekistan is an agro-industrial country however the service sector becomes predominant in its economics. Delivery of services is up by 14.2 % in comparison with 2013. Transport, telecommunications and tourism are the key sub-industries in service exports. Thus, the authorities do their best to enlarge the business development in Uzbekistan for enterprises by means of privileged credits, manpower training, and legal base.