Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

This year's Tashkent International Investment Forum, held on May 2-3 in Tashkent, provided significant results in improving the investment climate in our country, implementing innovations in the economic field, and applying global experiences within our nation, particularly in starting new projects with foreign investors and businessmen.

During the panel session "Investing in chemical production: the way to a breakthrough" at the forum, discussions were held on the rapid growth strategies of Uzbekistan's chemical industry and enhancing its investment attraction.

The session was moderated by Lukas Casey, manager at IFC.

Speakers at the panel session included:

Mathias Kranz - President region Europe-East of Linde

Akbar Kurbanov - Deputy Chairman of the board  of the joint-stock company UzKimyosanoat

Rahul Singh - Chef Executive of Indorama

Farrukh Samadov - Chairman of the board of the joint-stock company at Navoiazot

Sergey Radchenko - Principal Consultant of NexantECA

Speaking at the event, Matthias Kranz, President of Linde for Europe-East, highlighted Uzbekistan's achievements in the field:

"We have made a decision to invest in Uzbekistan on the first day of the forum. We partnered with “NavoiAzot” to expand, aiming to enter the Uzbek markets. We've identified conditions and demands in the country to implement this project. It's worth noting that significant success has been achieved in the country. The youth among the population are actively engaged, which is crucial for our business. Market freedom has shown us the potential of Uzbekistan's market. Now, we are fully prepared to embark on cooperation. This process will also boost exports. With 145 years of experience in the market, we are confident in our capabilities. Our experience in reducing emissions and green house gases is also substantial. These are crucial directions for us, as well as for Uzbekistan. Therefore, we are eager to work together."

The development of the Uzbek chemical industry, which is aimed at producing mineral fertilizers and extracting gas, has contributed to the growth of agriculture, ensuring industrial safety, and developing the country's main economic sectors. Akbar Kurbanov, Deputy Chairman of the "Uzkimyosanoat” Joint-Stock Company, mentioned this:

"We have a number of projects in collaboration with foreign countries. For example, we have been collaborating with 'Indorama' since 2018. One of our joint projects with them is a mineral fertilizer production plant built in Kokand. Currently, this plant produces 1 million tons of fertilizer per year. We offer least prices significantly lower than market prices and provide entrepreneurs with the opportunity to use modern equipment. We support foreign private businesses. Together with 'NavoiAzot', we produce about 90 products, and 'Uzkimyosanoat' itself produces aroun190 products. We collaborated with HBMC in partnership with 'Navoiy Azot'. All the necessary conditions for private businesses are available in Uzbekistan. Supporting private business is one of our main goals."

During the session, proposals were made to increase the pace of annual growth in the chemical industry, improve investment attraction, present plans and strategies for the government and private sector.

Speakers called for the introduction of advanced technologies in production, creating favorable conditions for attracting foreign capital and modern technologies.

The session focused on fostering collaboration between the government and business to develop a roadmap for the future economic growth.