JIZZAKH REGION, A FUTURE LAND OF OPPORTUNITIES FOR WESTERN COMPANIES AND INVESTORS?

The Jizzakh Region is helping to drive Uzbekistan’s economic growth. With its strategic location and dynamic business environment, the region could become a gateway to Uzbekistan for foreign business, and it already boasts some interesting contributions from Western companies in this region.

With a population of over 1.3 million, the Jizzakh region offers a dynamic workforce ready to contribute to the emerging economy. In recent years, the region has experienced remarkable economic growth, with a consistent year-on-year GDP growth rate, highlighting its potential as a lucrative investment destination. Its importance is further underscored by its historical role as a key region of the Silk Road, connecting our Eastern and Western World.

The historical legacy of the Jizzakh region is closely intertwined with its strategic location, in the heart of the Türkistan, close to major transport routes and neighbouring countries: Afghanistan, Tajikistan and Turkmenistan. This geographical advantage has made Jizzakh a central hub for trade and commerce during centuries, echoing its past as a crossroads on the Silk Road. Caravans laden with silk, spices and precious goods used to traverse these ancient paths, bringing wealth and cultural exchange to the region. Today, Jizzakh’s modern aspirations for economic prosperity are deeply rooted in this rich history, as the city seeks to once again leverage its strategic location to connect markets, foster international partnerships and embrace the legacy of trade and cultural exchange that has defined its identity for centuries.

In the grand tapestry of history, I firmly believe in its cyclical nature, where patterns often repeat themselves. Just as Jizzakh flourished as a bustling trading centre in ancient times, it is now emerging as a beacon of opportunity in the global economy of 2024. The region’s transformation into a promising investment destination is being driven by a combination of factors, including a favourable business climate and enticing government incentives. Foreign investors looking to tap into Uzbekistan’s potential will find the Jizzakh region an excellent entry point, providing a gateway to lucrative opportunities and sustainable growth in Uzbekistan.

The Jizzakh Free Economic Zone exemplifies this trend, attracting interest and investment from both Eastern and Western companies. As a potential catalyst for economic development, this Free Economic Zone could create a convergence between historical Silk Road heritage and modern innovation.

As French companies explore opportunities in in Uzbekistan, one promising avenue of cooperation in the Jizzakh Region could be water-saving technologies. The region’s agricultural sector, particularly cotton production, could benefit from French expertise in water management. The climate in the south of France is arid, and agriculture is an important part of the french economy, so France has developed cutting-edge technologies in this sector. By applying innovative water-saving solutions, French companies specializing in this field could help to optimize irrigation practices, to avoid water scarcity.

Water is a major issue for Uzbekistan, and foreign technologies, especially French ones, can bring major economic and ecological benefits. Cooperation in the water sector is part of the recent partnership agreements signed last November in Samarkand between the French President and the President of Uzbekistan. This historic visit, is very important for relations between the two countries, as no French President has visited Uzbekistan since 1991. This Franco-Uzbek rapprochement demonstrates the importance of future cooperation between the nations.

Through my years of business involvement in Uzbekistan, I have come to appreciate the mutually beneficial partnership that exists between Uzbekistan and France. This co-operation has proven to be a win-win partnership between our two countries, with both parties bringing valuable expertise, resources, and opportunities to the table. The synergy between our efforts has not only promoted economic growth, but also fostered cultural exchanges and bilateral ties. This experience reinforces my belief in the power of international relations and cooperation, to hopefully create in the future strong results for businesses between France and this promising region, Jizzakh.

Therefore, I believe that the Jizzakh region is emerging as a promising environment for Western-Uzbek co-operation, with foreign companies now starting to expand their activities not only in Tashkent but also in the regions. By capitalising on the region’s strengths and leveraging each other’s expertise, France and Uzbekistan can create new avenues of cooperation in high-potential sectors such as agriculture, manufacturing and renewable energy. As the partnership between the two nations continues to deepen, the Jizzakh region is designed to realise its full economic potential, driving prosperity and progress for both countries.

Quentin Vercruysse
Founder of Magadan Advisory, a boutique consulting firm dedicated to improving economic partnerships between France and Uzbekistan