The main points from the interview of the legendary investor and multimillionaire head of Rogers Holdings Jim Rogers for Forbes are about the new government of Uzbekistan, privatization and IPO, opportunities and plans to invest in hotels and airlines.
What does Jim Rogers like about Uzbekistan?
“I am a big fan of the new Uzbekistan although it's still largely unknown to people in the west,” he tells.
“....the new government seems to know what they are doing. What they have achieved in the last few years deserves commendation.”
“The economy has finally opened up and I am sure international investors will use this opportunity to tap into its growth potential,” Rogers says.
“I’ll be watching closely their announced privatization plans and IPOs,” he says, adding that he will be sticking to the Rogers playbook: agriculture, metals and energy.
“(Uzbekistan's cotton business) can definitely turn into a textile industry with higher added value with the help of growing foreign direct investment, which will bring with it the necessary technologies,” said the head of Rogers Holdings.
The New Old World
Uzbekistan is becoming a hot spot these days for a number of reasons: geopolitics – Uzbekistan lies in the very heart of the region of rivalry between the U.S., China and Russia; and new market growth potential now.
Many successful Uzbeks from Russia, Europe and elsewhere are returning home to start new businesses as the country becomes more friendly to private investment.
In 2022, the Shanghai Cooperation Summit will be held in Samarkand, a centuries old city on the original Silk Road route between China and the Mediterranean Sea. A new airport terminal is being built and 8 new hotels are being built there, a lot of it with Chinese capital.
Yet, when it comes to Uzbekistan, Rogers is willing to go beyond his commodity thesis.
“I’m particularly interested in their tourism potential,” he says. “When their airlines are finally up for privatization, I’ll definitely consider investing.”
After that, hotels.
“Especially considering the importance of Uzbekistan in China’s Belt and Road Initiative,” Rogers says. “There are some very attractive tourist destinations there. Uzbek airlines is an interesting investment case. I’m looking.”
Jim Rogers is one of the most famous investors in the world. In the 1970s, he, together with George Soros, founded the Quantum Fund, which brought investors 4200% of the income in 10 years. Despite the results, in 1980 Rogers left Wall Street and became interested in traveling: his two tours around the world (on a motorcycle and a car) were in the Guinness Book of Records.
Since 2007, Rogers has lived in Singapore and has two daughters. From 2014, he has been actively investing in Russian assets - in particular, in the Moscow Exchange, Phosagro and Aeroflot. His money in 2020 is estimated at $320 million.