Investment Opportunities and Prospects for Developing IoT-Based Smart Agriculture in Uzbekistan

Abstract

This article is aimed at analysing the investment opportunities and prospects for the application of IoT technologies in agriculture in Uzbekistan, highlighting their significance in ensuring efficient use of water and resources, increasing productivity, and promoting economic and environmental sustainability. The study, based on pilot projects in the Fergana, Khorezm, and Tashkent regions, has identified results showing that IoT technologies can reduce water consumption by 25% and increase productivity by 10-15%. Additionally, the article identifies the main barriers as limited internet infrastructure, high initial investment costs, and low levels of digital literacy, while emphasising that the government’s “Smart Agriculture” initiative, cooperation with international financial institutions, and tax incentives are creating favourable opportunities for financing and expanding IoT-based agricultural projects in Uzbekistan. The study's findings demonstrate that strengthening public-private partnerships, attracting foreign investments, and applying best practices are crucial for the modernisation of Uzbekistan’s agriculture through IoT development.