New Delhi: In nations across the world, tourism sector is increasingly playing a key role in aiding GDP growth. Tourism attracts valuable foreign currency and fuels infrastructure growth – opening multiple investment opportunities. Nestled amid the high mountains of Central Asia and the great Kyzylkum, the Republic of Uzbekistan with its magnificent architectural legacy and fascinating medieval history is well poised to emerge as a tourism hotspot. Known for its mosques, mausoleums and the ‘Silk Road’ – the ancient trade highway between China and the Mediterranean – Uzbekistan has a lot to offer. With the splendid city of Samarkand already making its mark as a favourite with tourist from across the globe.
Given the lucrative trade and tourism incentives that Uzbekistan offers, there has been an increased interest towards investment options in the country’s tourism sector, especially from India. The two countries share a long-standing friendship, along with sound cultural and economic relations. Given the warmth with which Uzbeks relate to Indians, tourists from the land of Gandhi have been soaking in with delight in the rich archaeological and religious history of the great nation. India also stands to gain immensely by deepening the economic relationship with Uzbekistan. The benefits translate in terms of geographical proximity, cultural similarities, similar palates, safety and value for money. This is the reason why a lot of business houses from India attended the Uzbekistan International Investment Forum – focused on the tourism sector – that was held in the capital city of Tashkent recently.
The forum opened a lot of investment doors for the country, with seasoned investors and business houses, expressing their keenness to explore business opportunities in Uzbekistan. Mr Aziz A Abdukhakimov, Deputy PM, Govt. of Republic of Uzbekistan especially welcomed the Indian investors at the forum, which was the first such event held to put the spotlight on the immense opportunities in Uzbekistan’s tourism sector. Mr Sandeep Chandra, president, Indian Chambers of Commerce and Industry, spoke about the scenic beauty and architectural richness of Uzbekistan’s tourist spots while Mr Ulugbek Kasimhodjae, First Deputy Chairman, State Committee of Republic of Uzbekistan for Tourism Development, announced that a $310 million investment package has been signed with Indian businessmen during the event.
Given the huge success of the event and the diversified tourism economy of Uzbekistan, it appears certain that the country is one of the most desirable destinations to do business, especially for Indians.