Mr. Avaz Khodjiev, Deputy Governor of Syrdarya, led a delegation comprising of representatives from food processing, pharmaceuticals, construction materials, healthcare, tourism, textile and other sectors, at a Business Forum on ‘Trade and Investment Opportunities in Uzbekistan’ organised by MVIRDC World Trade Center Mumbai and All India Association of Industries (AIAI) at World Trade Center Mumbai. Mr. Khodjiev said, “Uzbekistan can be a gateway to the 250 million consumer market of CIS countries. Indian companies can save upto 50% of their cost by manufacturing and exporting from Uzbekistan. During the recently held Vibrant Gujarat, both the countries signed agreements worth USD 1 billion for various projects. Uzbekistan is rich in natural resources and skilled labour. Companies investing in free economic zones (FEZs) of Syrdarya region will get all statutory approvals in four working days if their business plan is ready.”

Mr. Khodjiev suggested Indian companies to form joint venture with local partners in Uzbekistan and avail various government incentives.

Mr. Shokhrukh Isakulov, Deputy Director of Investments and Foreign Trade department of Syrdarya region said, “I invite Indian companies to explore business opportunities in Syrdarya region, which is 80 km from the capital city of Tashkent and which is at the cross-roads of eight other regions in Uzbekistan. He said, “Last year, the region attracted USD 89 million worth of FDI and this year, it aims to garner USD 170 million. So far, free economic zones in Syrdarya region have attracted 45 investment projects worth USD 305 million, thereby generating 5,000 jobs.”

Syrdarya region is home to USD 500 million pharmaceutical industry and several companies from China, Russia and even India have set up operations in this region. Syrdarya also offers investment opportunities in cotton processing, light industry, agriculture, leather products, construction material, readymade garments, food processing, tourism and other services sectors.

Mr. Vijay Kalantri, Honorary Consul of the Republic of Uzbekistan and Vice Chairman, MVIRDC World Trade Center Mumbai said, “Today, bilateral trade stands at hardly USD 300 million and the leaders of both the countries have resolved to enhance this to USD 1 billion by 2022. There is huge untapped potential for mutual collaboration in sectors such as cotton, food and agro-processing, pharmaceuticals, mining, energy, oil & gas, film, tourism etc.”

The event was also attended by Mr. Dilmurot Sultanov, Deputy Mayor of Mirzaobod district, Syrdarya region.

In Photo:

Mr. Avaz Khodjiev, Deputy Governor of Syrdarya, Uzbekistan (right) being felicitated by Mr. Vijay Kalantri (left).