SECTORAL OPPORTUNITIES
Health Sector
- Establishment of Free Trade Zones (FTZ) in the Andijan Region for pharmaceutical companies.
- FEZ attracts investment due to its facilities like advanced technology, research centres etc.
- Investment will facilitate access to Uzbek markets, which has the largest population in Central Asia.
- Uzbekistan has Free trade agreement with the CIS countries, therefore on investment, companies will gain market access of more than 300 million consumers.
Textile Sector
- Large producer of cotton
- Offers 10% discounted cotton to Indian industries as compared to the World Market
- Availability of Cheap and Skilled Labour
- Uzbekistan provides counselling for customs payment for important raw materials and equipment for facilitation of investment.
IT Sector
- Establishment of the Tashkent Software and Information Technology Park (IT Park) in cooperation with the Software Technology Society under the Ministry of Electronics and Information Technology of India.
- Multiple contracts have been signed for establishment of IT parks in other regions as well.
- On April 28, 2020, Mr. Shavkat Mirziyoyev, President of Uzbekistan, signed a resolution “On measures for widespread introduction of the digital economy and e-government- giving impetus to digitalisation of the sectors of the economy.
- An Advisory Post, to the Prime Minister of Uzbekistan, has been created specifically for a more concentrated approach towards digitalisation and execution of tasks pertaining to the sector. The post of Advisor to the Prime Minister on these issues has been introduced to ensure the quality and coordination of the execution of tasks defined by the document.
Education
- India’s leading Universities such as Amity and Sharda have already set up their branches in Uzbekistan.
- More than 40 documents have been signed on cooperation between universities of the two countries
- Memorandums and agreements in various fields of education have been signed with about 50 Indian universities by 22 universities of the Republic.
- These Include the Delhi University, Maulana Azad National Urdu University, Manipal University, Gujarat, Chandigarh Universities, Mirza Ghalib Institute, Indian Institute of Technology, Finance and other educational institutions.
- Samarkand Institute of Economics and Service introduced a joint educational program with Indian International Institute of Hotel Management.
- An India Room was established at Termez State University.
- Scholarships by ICCR and ITEC to Uzbek Students.
Tourism Sector
- More than 2700 Tourist sites, most of which are enlisted as UNESCO World Heritage Sites.
- 2 direct flights from Delhi to Tashkent
- Uzbekistan entered the ranking of the best places to travel in Asia according to Lonely Planet. Uzbekistan ranks the second after South Korea and is ahead of such traditional and popular countries as Vietnam, Japan, Thailand, Nepal, Sri Lanka, China and Indonesia in the Lonely Planet ranking.
- Among the top five countries in the CIS in the ranking of popular countries on gastronomic tourism.
- Uzbekistan is on the 2nd place in the world in the ranking of safe countries.
- Establishment of Free tourism zones (FTZ) for providing large privileges (tax, customs).
Power Sector
- Great availability of natural resources such as uranium
- Since 2017, a greater openness to trade has been taken up for economic reform and its economy still relies heavily on gold exports, fuels and cotton.
- The Asian Development Bank (ADB) today approved a $200 million policy-based loan to strengthen Uzbekistan’s power sector by improving its financial sustainability and ensuring adequate investment in critical infrastructure.
- The country has produced strategic documents such as the Action Strategy on Five Priority Directions for the Development of the Republic of Uzbekistan 2017-2021 that set out a clear vision for Uzbekistan’s development over the next five years, and it includes specific sectoral plans in transport, energy and industry.
