10.06.2025

On June 10, President of the Republic of Uzbekistan Shavkat Mirziyoyev took part in the plenary session of the fourth Tashkent international investment forum held in the capital’s International congress center. 

The event was also attended by President of Bulgaria Rumen Radev, Prime Minister of Slovakia Robert Fico, Prime Minister of Kazakhstan Olzhas Bektenov, Chairman of the Government of Kyrgyzstan Adylbek Kasymaliev, Prime Minister of Tajikistan Kohir Rasulzoda, Prime Minister of Azerbaijan Ali Asadov, Deputy Prime Minister of Russia Alexander Novak, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Nokerguly Ataguliyev, as well as the heads of the European Bank for Reconstruction and Development Odile Renaud-Basso and the New Development Bank Dilma Rousseff.

Overall, more than 7,5 thousand delegates attended the forum, including over 3 thousand foreign guests from 100 countries. This year’s event is being held in a new, expanded format. For the first time, a specialized exhibition was organized within its framework, where Uzbek companies are presenting their projects and joint initiatives.

The President of Uzbekistan began his speech at the forum with a brief analysis of the current global situation. It was noted that the geopolitical processes are changing rapidly, and threats to global security and sustainable development are intensifying.

For the third year in a row, global GDP growth rates are declining due to the worsening economic crisis and deficit of financial resources.

The Leader of Uzbekistan emphasized the importance of resolving regional conflicts and issues solely through diplomatic means, based on the norms and principles of international law, in accordance with UN resolutions.

- We call for open and wide-ranging international cooperation on these issues from all our partner states. Investment, the main topic of the forum, is a guarantor not only of economic development but also of peace and stability, - stated the Head of our state.

The Leader of Uzbekistan called for the creation of an investment environment that not only ensures profit but also serves as a solid foundation that upholds human value, guaranteeing vital interests, and supporting the development of society.

He dwelt separately on Uzbekistan's achievements in ensuring economic development. Over the past 8 years, the country's GDP has doubled. A goal has been set to bring this figure to $200 billion by 2030.

In 2024, the volume of investments reached $35 billion, and exports - $27 billion.

Over the past 5 years, Uzbekistan has risen 48 positions in the Index of Economic Freedom, and 28 positions in the Harvard Index of Economic Complexity.

Last month, authoritative agency S&P raised Uzbekistan's sovereign rating outlook from “stable” to “positive”.

Emphasizing that today the world economy is on the threshold of a new era of change, the President of Uzbekistan pointed to the importance of cooperation in four key areas.

First, transition to the model of “green” economy.

- In order to provide the economy with stable energy resources, we are firmly determined to develop green energy, - mentioned the Leader of the country.

In recent years, almost $6 billion of foreign direct investment has been attracted in this field. The volume of electricity production has increased from 59 billion to 82 billion kilowatt-hours. In the next 5 years this figure will exceed 120 billion kilowatt-hours, the share of “green” energy will be 54 percent.

There will also be a $4 billion investment in power grid upgrades. Electricity networks in Samarkand will be transferred to private partnership this year, and next year - in 8 more regions.

For the first time it is planned to launch the sale of “green certificates” and carbon units. Uzbekistan will join global carbon markets, and a platform for climate investments “Green Uzbekistan” will be created.

Second, digital technologies and artificial intelligence are becoming new “drivers” of the economy.

- This year alone, exports of IT services in our country will reach $1 billion. We have sufficient potential to increase this figure 5 times by 2030, - said the Leader of our country.

Uzbekistan's achievements in this sphere are being recognized at the international level. In particular, in the International Index of Readiness for Artificial Intelligence, the country has risen 17 positions in one year.

The national platform “Cloud Technologies” will be launched next year. In the next 5 years, 20 data centers with a capacity of more than 500 megawatts will be built together with private investors.

It is planned to develop a national model of artificial intelligence that will embody our rich history, values and new creative ideas. The project “One Million Artificial Intelligence Users” has been launched to ensure the effectiveness of this system.

The Head of State expressed confidence that through joint efforts Uzbekistan will become an influential IT and fintech hub.

Third, the financial system and technologies are fundamentally changing.

- Recently together with the IFC and World Bank we conducted a comprehensive assessment of the financial sector of Uzbekistan for the first time. They fully supported our reforms in the banking sector, finance, insurance and capital market, - said the Head of State.

To take these areas to the next stage of development, a Financial Stability Council will be established, and cybersecurity and financial technology platforms have been launched under the Central Bank.

Reforms in the insurance system have been launched, with the National Reinsurance Company and the Global Digital Reinsurance Platform established.

An alternative financial instrument for startups - venture capital - is developing rapidly. For example, last year the value of two national startup companies exceeded $1 billion for the first time.

To increase the number of such companies, a draft law “On Alternative Investment Funds” has been developed. In the next 5 years, the volume of venture capital and other alternative investments will be brought to $1 billion.

Another direction is the multiple increase in demand for technological minerals in the conditions of the “Fourth Industrial Revolution”.

Large reserves of tungsten, molybdenum, magnesium, lithium, graphite, vanadium, titanium and other minerals have been identified in Uzbekistan. The potential of our subsoil is estimated at $3 trillion in total.

- We have every opportunity to turn the region into a hub for the production of high value-added products from minerals. In Tashkent and Samarkand regions, we are creating Technoparks “Metals of the Future”, - said the country's leader.

In this regard, the Head of State proposed to introduce the return of rent tax within 10 years to investors who have established a full cycle - from geological exploration to the production of finished products.

In his speech, the President of Uzbekistan paid special attention to the practical embodiment of the principle “New Uzbekistan - a country of great opportunities for investment”.

First, Uzbekistan has set itself the goal of becoming a member of the World Trade Organization next year. In this regard, dozens of laws and hundreds of standards have been adapted to international requirements. This process will be fully completed this year.

Secondly, in order to create even more favorable conditions for foreign investors, a “national regime” will be introduced, guaranteeing the same conditions as local companies, the principle of “single window” in interaction with government agencies will be introduced, and a system of guaranteed protection of investment activity will be created.

Through such measures, it is planned to raise Uzbekistan's credit rating to the investment level by 2030.

Thirdly, when privatizing state-owned companies, the path of turning them into large assets that will serve the growth of the country's welfare has been chosen.

A National Investment Fund has been created, uniting state stakes in 18 large companies and banks worth about $2 billion. A reputable international company Franklin Templeton has been engaged to manage the fund. Next year it is planned to offer a block of shares of the fund on the international IPO.

In addition, professional consultants will be engaged and 29 large state-owned companies will be privatized within two years.

Fourth, significant attention is being given to the development of transportation and logistics with the involvement of private capital. For instance, the international airports of Samarkand, Namangan, Bukhara and Urgench have been transferred to potential investors for management under the principles of public-private partnership.

The management of Urgench Airport has been entrusted to the leading global company “Incheon”. Next year, tenders will be held for the airports in Nukus, Termez, Fergana, and Navoi.

In addition, considering that the population of the capital has exceeded 5 million, a new city called "New Tashkent" will be built, designed for 2 million residents. A multimodal hub will be constructed there, capable of serving up to 20 million passengers per year, integrating airport, railway and road transportation.

Fifth, a completely new atmosphere of cooperation has been formed in Central Asia. Over the past eight years, trade turnover with neighboring countries has increased more than 3.5 times, reaching nearly $13 billion.

Major investment projects are being implemented. Construction has begun on the China–Kyrgyzstan–Uzbekistan railway, and work is underway to prepare large-scale energy and infrastructure projects.

In this regard, the Leader of Uzbekistan proposed advancing the concept of a "Common Space for Investment and Trade" in Central Asia.

- Here I would like to address international organizations: the time has come to create new financial mechanisms to support regional projects. By joining forces, we will transform Central Asia into a space of peace and sustainable development, - stated the President.

Concluding his speech, the Leader of Uzbekistan emphasized to the participants that for our country, investment means not just financial resources, but also technology, knowledge, skilled personnel, and integration into global production chains.

- Uzbekistan is creating all the necessary conditions for foreign investors who come to us with such noble intentions, and we fully support and completely guarantee their activities, - underlined the Leader of our country.

Speakers at the plenary session gave high praise to the outcomes of the reforms in the New Uzbekistan, presented their proposals and initiatives for further strengthening investment cooperation with our country in priority sectors.

The Tashkent International Investment Forum will conclude on June 12.

Tomorrow, a plenary session of the Foreign Investors Council will be held with the participation of the President of the Republic of Uzbekistan.