MIIT Showcases Reforms and Opportunities for Foreign Investors in Karakalpakstan

Tashkent, Uzbekistan (UzDaily.com) — On 24 February, the Ministry of Investments, Industry and Trade of the Republic of Uzbekistan organized a visit by representatives of the diplomatic corps and international organizations to the city of Nukus, aimed at familiarizing participants with the reforms underway in the region, ongoing investment projects, and the export and tourism potential of the Republic of Karakalpakstan.

The delegation comprised 12 Ambassadors Extraordinary and Plenipotentiary representing Russia, Kyrgyzstan, Turkmenistan, the Republic of Korea, Mongolia, Palestine, Algeria, Romania, Turkey, Slovakia, the Czech Republic, and the United Nations, as well as 13 advisers from the diplomatic missions of Azerbaijan, Malaysia, Iran, India, Pakistan, the United States, the United Kingdom, Hungary, Latvia, the European Union, Switzerland, and Ukraine. The heads of JSC Russian Export Center, the International Water Management Institute for Central Asia, and the Asian Development Bank Representative Office also took part in the event.

Particular interest among the participants was drawn to the region's investment portfolio, valued at over 8 billion US dollars and encompassing 78 projects with feasibility studies totaling 1.8 billion dollars.

As part of the visit's program, the delegation toured a number of industrial facilities, including Nukus SSP Texnopark, which specializes in yarn production, OSTEN TECHNOLOGIES, a manufacturer of radiators, and KARAKALPAK BASALTWOOL, which produces thermal insulation materials. The guests also visited cultural heritage sites, offering an appreciation of the region's tourism potential.

The event highlighted the growing investment and economic interest in Karakalpakstan and helped strengthen dialogue between international partners and local businesses.