Production of synthetic fiber (viscose)

Uzbekistan is recognized globally for its political stability and safety, with a population of 37 million people. The country benefits from several trade agreements, including a free trade agreement with CIS countries and Georgia, as well as most-favored-nation treatment with 46 countries, such as China, Japan, the US, EU member states, India, and South Korea. Ongoing negotiations are focused on securing the Generalized System of Preferences Plus (GSP+) with the EU, alongside discussions with China and South Korea aimed at eliminating customs tariffs on Uzbek goods.

According to the World Bank's "Doing Business 2018" report, Uzbekistan's ranking improved by 13 positions within a year, reaching 74th place, and continued to rise to 69th in 2020. The country consistently ranked among the top 10 globally for improving its business environment between 2017 and 2019, particularly in areas such as business registration, credit access, economic growth, and safety, as highlighted by institutions like the International Economic Forum, Moody’s, and the World Justice Project. The World Bank’s “Global Economic Perspectives” report also recognized Uzbekistan as one of the world’s fastest-growing economies, with a GDP growth rate of 7.8% in 2017 and 5.5% in 2019.

Numerous foreign companies have successfully established operations in Uzbekistan. For instance, Indorama Pte. Ltd. from Singapore, Jinsheng Group from China, and UZTEX Group and Swiss Capital International Group, each with investments totaling $200 million, are among the key players. Additionally, Rieter AG from Switzerland has invested $16 million in the country, showcasing Uzbekistan’s attractiveness as a growing hub for international investment.