BAKU, Azerbaijan, May 20. Geopolitical challenges are increasingly disrupting development and logistics, said Mansurjon Rasulev, Acting Director of the Investment Promotion Agency under the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan, speaking at the 8th Plenary Session of the CICA Business Council in Baku, Trend reports.
“I believe that the government’s steps towards privatizing assets in banking, manufacturing, and service sectors are creating new opportunities for international investors. However, this simultaneously limits the market share currently held by small and medium-sized enterprises (SMEs).
At the Investment Promotion Agency under the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, our mission is to actively promote foreign investment in the country. A key priority in this effort is fostering strong partnerships between international investors and local companies.
We believe the best and fastest way to set up a business in Uzbekistan is through partnerships with local SMEs. Many investment promotion agencies and ministries are working to create projects to attract investors. But we think the most effective method is to work directly with SMEs operating in the private sector, help them develop attractive investment proposals, and present these to international investors. This approach allows foreign partners to build more personal and trustworthy relationships,” he stated.
According to Rasulev, when investors get to know the "personality" behind a business, trust forms more easily, making it quicker and simpler to establish a presence in Uzbekistan and avoid missteps when entering a new market.
“I would like to take this opportunity to note that some regional initiatives promote sustainable development. Geopolitical challenges are increasingly disrupting both development and logistics. The implementation of green investments is becoming a crucial tool for policymakers—not only to mitigate the short-term effects of conflicts but also to contribute to long-term diversification and risk reduction. In this context, I would like to draw attention to the Middle Corridor,” he added.
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