Economic Overview and Business Opportunities in Uzbekistan
Before establishing a company in any country, you must understand what you are getting into. Especially when setting up a business abroad, such as a country like Uzbekistan.
Economic Overview of Uzbekistan
As of 2021, approximately 7% of Uzbekistan’s people are still living on the lower-middle-income poverty line. The high risk of poverty in the country is still very real. Which is why reforms are needed to help expand social assistance in the hopes of stopping a sharp rise in poverty rates.
Uzbekistan’s economy has slow growth at the moment. As of 2022, the growth was recorded at a mere 3.6%. This was largely due to the war that went on with Russia during this period. However, the right investments could help to turn this economy around.
Business Opportunities in Uzbekistan
Uzbekistan has been drawing the interest of investors for a long time now, and that interest is on the rise. With the right specialists to guide you along the way, you too can be on your way to becoming one of the top businesses in Uzbekistan.
Every investor starts off with a dream of owning and operating a successful business. That dream begins by choosing the right sector to venture into first. Tourism and the oil and gas sector are two such industries that you could consider getting involved in. The Uzbekistan government is keen on increasing tourism in the country in the next few years, so this is definitely something to consider.
To meet the growing external demand for food products, Uzbekistan also looks to pick up its food processing and packaging sector. Construction and ICT are another two popular business sectors that draw the eye of investors. Especially construction, since it is one of the most promising sectors in the country.
Here is another business sector that does not spring to mind immediately. But this sector could just be the hidden gem of an opportunity that you’ve been looking for. Have you ever thought of investing in the education sector? The Uzbekistan government certainly wants to attract more foreign university investment as it plans to build 30 more universities by 2030.
Connect with 3E Accounting
Take your business opportunity to the next level by making something happen. Work with the 3E Accounting specialists and we will help you give your business the push it needs.
Our 3E Accounting specialists have the connections and resources to speed the process along. For more information about our Uzbekistan company incorporation services, get in touch with the 3E Accounting team today. Our friendly staff are always ready to help.
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