Uzbekistan continues its efforts to diversify its economy

Uzbekistan is organizing various activities to develop and diversify its economy.

At the “Global Investment and Tourism Forum” held in the Fergana region of Uzbekistan, investment opportunities including state support were explained to businessmen from Turkey, the Middle East, and European countries. Over 250 investors attending the forum, organized in cooperation with the Global Tourism Forum and the Governorate of Fergana, were informed about the tax and other supports available for industrial and tourism investments that can be made in the region.

At the closing of the forum, held in the 18th-century Hudayar Khan Palace in Kokand, one of the leading cities in the region, the Governor of Fergana Region, Hayrulla Bozorov, stated that they are working intensively to uplift the regional economy with the slogan “From Heritage to Opportunities”. He said, “We want to present tourism investment opportunities that will evaluate Fergana’s historical heritage and industrial investment opportunities where the educated and young population can be employed to the businessmen who are our guests at this forum. As the Uzbekistan State and Fergana region, we are with you with tax reductions, investment guarantees, and financing supports.”

Fergana Valley, located in the east of Uzbekistan, consisting of the cities of Fergana, Andijan, and Namangan, is known for its rich historical background and the export of fruits, silk, cotton, and all kinds of agricultural products. With a population of 3.8 million, it is the most densely populated province of Uzbekistan, exporting a large amount of fruits and vegetables to Russia, China, and Kazakhstan. Nurettin Mamajonov, the Deputy Governor responsible for Investment and Foreign Trade of Fergana Region, who spoke at the opening of the forum, stated, “Fergana offers you beautiful opportunities with its rich agricultural and cultural infrastructure. We are presenting investment opportunities in agriculture-based industries, especially in the chemical industry, with state support.”

Özgül Özkan Yavuz, a former Deputy Minister of Culture and Tourism, who spoke at the session titled Tourism at the forum, said, “Investments in tourism are particularly social development-supporting investments contributing to employment and commerce. Developing countries need this.”

Bulut Bağcı, the President of the Global Tourism Forum, which organized the 1st Fergana Investment and Tourism Forum together with the Fergana Governorate, also stated, “This is the first time such a widely attended international investment event is being held in Fergana. We will continue to support because we believe in the future of the region.”