Uzbekistan is becoming an attractive destination for foreign investment, particularly in fintech, e-commerce, and software startups, media reports. The country has undergone significant government reforms since 2017, resulting in increased international investment and the privatization of Uzbek banks.
Public-private partnership laws and green economy strategies also attract foreign capital to the Central Asian country.
One example of successful investment is Silverleafe, an American-Uzbek joint venture growing cotton in the Jizzakh region, northeast of Samarkand. The company is introducing new technology to the cotton harvesting process, including GPS tracking and tracing.
The European Bank for Reconstruction and Development (EBRD) has committed over €3bn to key sectors within the Uzbek economy, with sustainable energy being a top priority. The EBRD has also funded the first privately owned solar station in Uzbekistan.
The country's tech scene is also attractive to foreign investors, with London-based investment firm Sturgeon Capital investing €22.65mn in Uzbekistan's startups and digital infrastructure in 2020. The government aims to attract over €100bn in foreign investment over the next four years to ensure the sustainable, long-term development of the country's economy.
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