Influence of foreign investments on agriculture of Uzbekistan
In the world practice, there are many examples where new production is created by attracting foreign investment and export orientation based on modern technologies.
The company “BMB Trade Group” started its activity relatively recently. The company includes a head office and three subsidiaries:
“BMB Agro Trade” (Arnasay district of Jizzakh region), “BMB Logistic” (Sharaf Rashidov district of Djizak region) and “BMB Zomin Agro” (Zaamin district of Djizak region). In order to attract foreign direct investment and innovative technologies to Uzbekistan, “BMB Trade Group” established stable collaboration and cooperation with large companies specializing in agro-industry during trips of the top management to European and Asian countries.
Concerning the activities of the company: “BMB Trade Group” exported legumes (mung beans and kidney beans) to the Republic of Pakistan for $ 918,000 in total.Within the framework of attracted direct foreign investments to Uzbekistan,in July-August of this year, the partners of the joint venture from the USA were on a visit to Mirzachul, Arnasay, Pakhtakorsky and Dustlik districts of the Djizak region. “BMB Trade Group and “Silverleafe International” are actively involved in establishing agro-logistics cluster, as well as implementing projects to introduce modern technologies into the agro-industry of the Jizzakh region.
As a result of well-planned activity, “Silverleafe BMB Agro Trade Group” Uzbek-American JV has been established in Jizakh region of Uzbekistan.
The main tasks of the Joint Venture are cultivation, deep processing and manufacturing of finished products from cotton with an emphasis on export to foreign countries within the agro-industrial complex.
To date, the first batch of agricultural machinery “John Deere” has been purchased from the US and being delivered to Uzbekistan.
President of the company “Silverleafe International” Dan Patterson especially stressed the favorable investment climate in Uzbekistan for foreign investors.
In order to establish the production of import-substituting goods and provide the population with high-quality tea of domestic production, the Cabinet of Ministers of the Republic of Uzbekistan issued a Decree #490 on June 30, 2018. It was decided to establish a specialized organization for the cultivation of tea and tea products in the Zamin district of the Jizzakh region.
As a result of the cooperation between the companies, an agricultural complex for the production and processing of agricultural products and new jobs will be created, as a result the export of agricultural products abroad will increase. All this will have a positive impact on the development of Uzbekistan’s economy, namely, the Jizzakh region.