By Business Correspondent
Traditional wisdom says `Don’t put all your eggs in one basket’ and it perfectly applies on Mr. Murari Lal Jalan.
An eminent figure in the business fraternity, Mr Jalan is a veteran who has invested in diverse sectors like Real estate, Mining, Trading, Construction, Fast Moving Consumer Goods, dairy, Travel & Tourism and Industrial works globally to name a few, minimizing the risk factor.
Presently he has his investments in the United Arab Emirates, India, Russia, and Uzbekistan amongst others. Mr Jalan’s brand ‘M J Developers’ is known for its core business principles – focus on the customer, aim for high-quality development, and have the vision to deliver good quality coupled with timely execution.
Mr Jalan’s primary governance philosophy is based on building resilient and sustainable enterprises that would be directly in tune with his approach to sustainable development – form of progress that meet the needs of the present without compromising on anything to meet the needs of the future generation. It is an approach which postulates a holistic, balanced and integrated perspective on development.
This is supported by macro-economic indicators and the annual Gross Domestic Product (GDP) growth of Uzbekistan has exceeded 8% over the last 11 years, which is one of the highest in the world.
The GDP has increased 5.5 times during the years of independence, while GDP per capita (PPP) has risen by 4 times. Since 2005, the state budget has reached its annual surplus contributing to the present state of macro-economic stability. This has inspired Mr. Jalan to be optimistic about the bright future, growth and development of Uzbekistan.
Mr Jalan remains committed and excited to be a part of this success story of the country because of its decisive, bold steps towards openness and foreign trade
With many projects valued at more than US $ 1 billion and having his presence in famous hubs of Uzbekistan like Tashkent, the capital (which means “Stone Village” in Uzbek) is also a center of Uzbek culture. Tashkent has several large libraries and is the seat of the Uzbek Academy of Sciences and many other numerous institutions of higher learning.
He is also contributing to the development of Namangan, a land of investment opportunities in pharmaceuticals, information technology, hotels, health sector, automobile. Located in the heart of the city, Namangan Square is an exciting new luxury development point that will see the creation of a contemporary 18-hectare mixed-use community within walking distance from the newly constructed Presidential School, (1 km from the Namangan Airport and 6.5 km from the Namangan train station).
His third venture is at Bukhara which is rich in historical sites and his ventures would be part of more than 2 million sqm. of residential apartments, and with sprouting up of 4 luxurious hotels, renowned Universities, Medical Institutes, iconic towers, all this will give new shape to Uzbekistan.
The Government’s vision is to transform Uzbekistan into an industrialized, upper-middle-income country by 2030. Achieving this vision will require a sustained reform effort to further increase the efficiency of resource allocation in the economy and take advantage of new, high-potential sources of economic growth and job creation.
As part of this vision, the government has recently announced plans to modernize the agriculture sector, reduce its ownership of state-owned assets and enterprises, and address constraints in the financial markets.