Large businesses help attract new investors to Uzbekistan — Mariotti

The presence of major international companies in Uzbekistan can help attract new investors. Businesses already familiar with the country share their experience and help potential partners assess the business environment. This was noted by Marco Mariotti, President of Philip Morris International’s South Asia, CIS, and Indochina region, during his speech at Technovision in Tashkent.

According to him, international companies can contribute to the country’s development not only through their own operations but also by promoting its opportunities abroad. Mariotti noted that business representatives who have not yet visited Uzbekistan turn to them for an assessment of investment prospects.

“People who haven’t been here yet ask us, ‘How are things in Uzbekistan? Is it worth investing there?’ And, of course, we paint a positive picture of the country,” he said.

Thus, the experience of international companies operating in the country serves as an additional source of information for potential investors. However, according to Mariotti, promoting a positive image of Uzbekistan is not enough. Large businesses must also participate in the country’s technological development and transformation.

“We must view Uzbekistan as more than just a market for our company. We must do more—contribute to the country’s development as much as we can,” he emphasized. 

Mariotti believes that Central Asia is on the threshold of a “golden age.” He attributed this to growing international interest in the region and its location at the crossroads of routes between East and West—for the flow of goods, services, data, and energy. In his assessment, foreign partners are increasingly exploring opportunities to invest in and finance the development of countries in the region.

According to the top executive, Uzbekistan recognizes these opportunities and is striving to capitalize on them. Mariotti highlighted economic and institutional reforms, changes to the legal framework, currency reform, and human capital development. At the same time, stability, predictability, the qualifications of the workforce, and the business environment remain decisive factors for investors.

“I travel extensively around the world and visit many countries. Very few countries have transformed as much as Uzbekistan has over the past ten years,” he noted.

Mariotti also emphasized that fostering innovation requires trust and an environment in which new technologies can flourish. Creating such conditions takes time, but, in his view, it provides the foundation for long-term sustainable growth.

The Technovision platform is dedicated precisely to the exchange of experiences among businesses, government agencies, scientists, medical professionals, and civil society. Its purpose, Mariotti explained, is to discuss how technology and innovation can contribute to the country’s development.