Pegasus in Uzbekistan
Pegasus has opened an office in the capital Tashkent to more closely monitor business and investment opportunities in Uzbekistan, which has gained attention with its rapidly growing economy in recent years. Pegasus, which has long examined Uzbekistan, one of the world’s largest cotton and gold producers, has taken its first step towards becoming more active in the Turki Republics in the coming years. One of the important trading partners of Uzbekistan, which has close trade partnerships with China, Kazakhstan, Russia and South Korea, is Turkey. Uzbekistan, which imports many products from Turkey, including personal cleaning products, medicines, trailers, plastic products, food processing machines, has 520 Turkish-owned companies operating in various sectors, especially textile industry and contracting. These companies employ about 50,000 people, while investment opportunities in the country continue to attract new Turkish investors.
WILL GROW 5.3% THIS YEAR
The agriculture and manufacturing industry provides a large portion of Uzbekistan’s Gross Domestic Product (GDP). As a country, Uzbekistan is trying to move to a free market economy, with an average growth rate of 4.5 to 5 per year. The World Bank has also recently expanded its forecasts for Uzbekistan’s economy. The World Bank, which previously announced Uzbekistan’s GDP growth in 2019 at 5.1 percent, revised it up to 5.3 percent. In recent years, the Government of Uzbekistan has been making important decisions for businessmen and investors in order to keep conditions positive and to create an investment environment. In this context, in recent years, it has facilitated the registration of enterprises, while also giving businesses a number of tax and customs conveniences. Pegasus, which envisages that it can carry out different projects in the field of industrial contracting in Uzbekistan, carries the Turkish capital to the region with Turkish engineers in this process; It will be an important step in co-operation between the two countries.