Bioeconomy concept and possibilities of its implementation in Uzbekistan agriculture for making it more attractive for investments

One of the most crucial elements in the development of Uzbekistan's agricultural sector is investment. When compared to 2002, the monetary number of investments in agriculture increased by 176.7 times, which had a beneficial impact on agricultural exports, value added, gross output, and food manufacturing. However, for more rapid and dynamic agricultural development even bigger investments are needed. This study analyses possibilities of implementing bioeconomy concept in Uzbekistan agriculture for making this sector more attractive for investments. In this study authors explain bioeconomy concept as set of activities were renewable bioresources are basis for all economic processes in agriculture, agricultural production is promoted by research and innovation, and were broad cross-sectoral and institutional focus is present. . In this study, the authors have identified agricultural priorities in Uzbekistan, analysed direction and character of agriculture development in Uzbekistan depending on the number of investments, identified Uzbekistan’s needs for bioeconomy development. In order to make agricultural sector more attractive for investments this study authors recommend that it is necessary to develop and implement a state program for the development of bioeconomy, containing a set of its goals and priorities, mechanisms for achieving and ensuring them, principles for selecting participants in the production process, as well as determining their powers and degree of responsibility.

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