To promote regional development and attract investment, President of Uzbekistan announced the 'Invest in Karakalpakstan' initiative at this year’s open dialogue with entrepreneurs in Nukus. The event, held on August 20, highlighted the growing importance of maintaining traditional markets, exploring new ones, and diversifying logistics routes in today's global economic landscape as reported by the presidents press service.
“Why are we holding this year’s open dialogue in Karakalpakstan? Because investing and doing business in Karakalpakstan has three advantages compared to other regions,” the leader of Uzbekistan stated.
The President explained the rationale behind holding the open dialogue in Karakalpakstan, citing three key advantages that make the region particularly attractive for business and investment compared to other parts of the country.
“The first is a package of more than 50 benefits for business in Karakalpakstan, which are not available in any other region. Second, a simplified system of land allocation has been introduced in Karakalpakstan. The third is that Karakalpakstan is the most convenient region for us to enter large markets.”
– Shavkat Mirziyoyev, President of Uzbekistan
These strategic advantages were emphasized as part of a broader effort to showcase Karakalpakstan as a region ripe with opportunities for both local and foreign investors. The President urged Karakalpakstan's entrepreneurs to take full advantage of these unique benefits and to actively engage in promoting the region's potential to visiting business leaders and investors. He also encouraged them to collaborate in developing joint proposals for projects, assuring them of his full support in realizing their initiatives.
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At the conclusion of the open dialogue, the president announced the decision to launch the "Invest in Karakalpakstan" program. This initiative is designed to capitalize on the region’s strategic advantages, providing further incentives and support to businesses operating in or considering investment in Karakalpakstan. The dialogue also provided a platform for entrepreneurs to present their practical proposals and initiatives directly to the President.
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