BAKU, Azerbaijan, July 22
By Ilkin Seyfaddini - Trend:
Uzbekistan has a very diverse economy with high potential to grow in every single sector: agriculture, machinery, construction, textile industry and others to name a few, press spokesman of German Association for Small and Medium-sized Businesses (BVMW), and editor-in-chief of DER Mittelstand business magazine Eberhard Vogt told Trend in an interview.
According to Vogt, since the establishment of diplomatic relations between Uzbekistan and Germany, huge work has been done aimed at strengthening of political, economic, cultural and humanitarian dialogues.
"In recent years countries have intensified cooperation in such spheres with untapped potential as: inter-parliamentary ties, cooperation in the field of security, legal and defense ministries. Leading experts of the two countries met several times to exchange experience in these areas, discuss organizational and legal issues of relations between state bodies and public organizations," Vogt noted.
As Vogt said, BVWM having analyzed Uzbek market from German companies’ point of interest have identified the most attractive spheres:
- Textile industry’s contract manufacturing for very high quality textile goods with low production costs;
- Fresh and dried fruits very well-known all around the world for their rich taste;
- Construction industry suffering shortage of equipment, know-how and professionals during current construction boom taking place all over Uzbekistan due to Urbanization Policy;
- Chemical industry requires further development of production due to increased demand in the market given rich resources for many chemical elements in Uzbekistan;
- Automotive industry is attractive area where German expertise is demanded due to three car manufacturing plants (fourth one is coming soon) operate in Uzbekistan;
- Hotel and restaurant industry is intensifying due to boom in Tourism industry of Uzbekistan which is famous for its ancient cities all over the world;
- Pharmaceutical industry being totally rebuilt in accordance with Government plans to increase local production of medicals from 20 percent to 80 percent is of interest to German companies.
Also, Vogt noted that Uzbekistan is implementing and is planning to implement several huge projects in Energy industry that includes deployment of solar panel farms, wind mills and modernization of existing network of energy distribution system and dozens of hydro pump stations construction is envisaged in Uzbekistan to facilitate the increase of electricity.
"Toll roads are another big project planned on the Governmental level to cover all the territory of Uzbekistan. Car manufacturing is planned to be diversified that German companies may take an advantage from," Eberhard Vogt noted.
German Federal Association of Small and Medium Businesses is the largest association in Germany that represents the interests of small and medium-sized businesses.
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