In 2009, with the support of an angel investor, Zafar Hoshimov, founder of one of Uzbekistan’s biggest supermarket chains, Paiziev’s company became the first in Uzbekistan to receive a mapping licence.

Uzbekistan will increase grain production by 1 million tonnes this year and will also increase the import of raw sugar from Brazil.

The economic situation in Uzbekistan’s major trading partners, sharp fluctuations of their exchange rates, rising commodity and energy prices are increasing macroeconomic uncertainties and risks.

Uzbekistan has been taking steps to develop its capital market and increase the total volume of securities in free circulation to at least 5 percent of the country’s GDP.

Uzbekistan, the 6th largest cotton producer in the world, has embarked on reforms that include the modernisation of the country’s former agricultural economic model.