For several years, the government of Uzbekistan has been actively working at developing the agricultural sector and improving the investment climate. In 2019, the volume of raised foreign investments in the country’s economy more than tripled.
In particular, investors from Europe, China, Russia and other countries increased their attention to cooperation with Uzbekistan, and realization of new projects in the agricultural sector, trading and logistics.
According to the Association of enterprises of fat-and-oil products JSC Uzkimyosanoat, only in the fat-and-oil industry in the period of 2019-2021 the country continues realizing nearly 70 projects at the sum of almost $185 million. In addition, investors were actively bringing funds in development of the animal feed industry in Uzbekistan (27 projects at the sum of $27.1 million), as well as construction of modern storage facilities and modernization of the existing production facilities.
According to the Deputy Head of department of the Association JSC Uzkimyosanoat, Gulchehra Nabiyeva, to date organization of modern plants for the production of soy protein (isolate), oilseeds, food emulsifiers, margarine, as well as solid fats from vegetable oils (interesterified fats, milk fat replacers), are the most prospective directions for investment in the agro-industrial segment of Uzbekistan.
In turn, the government of Uzbekistan proposed tax concessions and preferences to all potential investors, as well as the necessary infrastructure for foundation of new production facilities. Demand for the reporting products both on the domestic market and in neighboring countries is constantly growing. (APK-Inform/Business World Magazine)