President of Uzbekistan Opens Plenary Session of the Fourth Tashkent International Investment Forum
Tashkent, The Gulf Observer: President of the Republic of Uzbekistan, Shavkat Mirziyoyev, today delivered a keynote address at the plenary session of the Fourth Tashkent International Investment Forum, held at the International Congress Center in the nation’s capital. The high-level event convened global leaders and economic stakeholders to discuss transformative investment opportunities and sustainable development strategies.
The forum witnessed the participation of several distinguished guests, including President of Bulgaria Rumen Radev, Prime Minister of Slovakia Robert Fico, Prime Minister of Kazakhstan Olzhas Bektenov, Chairman of the Cabinet of Ministers of Kyrgyzstan Adylbek Kasymaliev, Prime Minister of Tajikistan Qohir Rasulzoda, Prime Minister of Azerbaijan Ali Asadov, Deputy Prime Minister of Russia Alexander Novak, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Nokerguly Atagulyyev, President of the European Bank for Reconstruction and Development Odile Renaud-Basso, and President of the New Development Bank Dilma Rousseff.
This year’s forum has drawn over 7,500 delegates, including more than 3,000 international guests from 100 countries. Held in an expanded format, the forum features for the first time a dedicated exhibition showcasing the projects and joint ventures of leading Uzbek companies.
In his opening speech, President Mirziyoyev offered a critical overview of the current global climate, highlighting rapid geopolitical shifts and increasing threats to international security and sustainable development. He underscored the prolonged decline in global GDP growth, attributing it to the ongoing economic crisis and limited financial resources.
The Uzbek leader emphasized the imperative of resolving regional and international conflicts through diplomatic channels, aligned with the principles of international law and relevant United Nations resolutions. “We call on all our partner states to engage in open and large-scale international cooperation on these pressing issues. Investment, the forum’s main theme, is a guarantee not only of economic development but also of peace and stability,” he stated.
President Mirziyoyev highlighted Uzbekistan’s economic accomplishments, noting that the country’s GDP has doubled over the past eight years. The nation aims to reach a GDP of $200 billion by 2030. In 2024 alone, Uzbekistan attracted $35 billion in investment and recorded $27 billion in exports.
Uzbekistan has also advanced significantly in global rankings, having risen 48 positions in the Index of Economic Freedom and 28 places in the Harvard Economic Complexity Index over the past five years. In May, S&P Global Ratings upgraded the outlook on Uzbekistan’s sovereign credit rating from “stable” to “positive”.
Looking ahead, the President outlined four priority areas for cooperation in the new global economic landscape: green energy, digital technologies and artificial intelligence, financial sector modernization, and the development of technological mineral resources.
In the green economy sector, Uzbekistan has already attracted nearly $6 billion in direct foreign investment, raising electricity production to 82 billion kilowatt-hours. By 2030, this figure is expected to surpass 120 billion, with green energy contributing 54 percent. The country plans to launch the sale of green certificates and carbon credits, and will establish the “Green Uzbekistan” climate investment platform.
In digital transformation, Uzbekistan’s export of IT services is projected to reach $1 billion this year, with a fivefold increase targeted by 2030. A national cloud platform will be launched next year, supported by the construction of 20 data centers in partnership with private investors. The President also introduced the national artificial intelligence model, accompanied by the “One Million AI Users” initiative.
Regarding financial reforms, Uzbekistan is forming a Financial Stability Council and launching new platforms under the Central Bank to support cybersecurity and fintech development. The country is also developing a robust venture capital ecosystem. Two national startups have already surpassed a $1 billion valuation, and the total volume of venture and alternative investments is projected to reach $1 billion within five years.
President Mirziyoyev also emphasized Uzbekistan’s vast mineral potential, with subsoil resources valued at approximately $3 trillion. The country is creating “Metals of the Future” technoparks in Tashkent and Samarkand and proposing tax incentives for investors who establish full-cycle mineral production.
The Head of State reaffirmed Uzbekistan’s commitment to becoming a member of the World Trade Organization by next year. To this end, the country has harmonized dozens of laws and hundreds of standards with international norms. A “national regime” will be introduced to ensure foreign investors enjoy the same conditions as local firms, with a “one-stop shop” model simplifying government interactions.
Further privatization of state assets is underway. A National Investment Fund, managed by Franklin Templeton, now oversees state shares in 18 major companies and banks valued at approximately $2 billion. Plans are in place for an international IPO and the privatization of 29 state-owned enterprises within two years.
In transport and logistics, four international airports have been transferred to investors through public-private partnerships. Urgench Airport is now managed by global leader Incheon, with tenders scheduled for four additional airports next year. Additionally, the “New Tashkent” city project will include a multimodal transport hub to serve up to 20 million passengers annually.
In the regional context, President Mirziyoyev noted that trade with neighboring countries has grown 3.5 times over the past eight years, reaching nearly $13 billion. Key infrastructure projects, including the China–Kyrgyzstan–Uzbekistan railway, are underway.
The President proposed the development of a “Concept of an Integrated Region for Investment and Trade in Central Asia” and called on international organizations to create new financial mechanisms to support regional projects. “By joining efforts, we can transform Central Asia into a space of peace and sustainable development,” he affirmed.
Concluding his address, President Mirziyoyev reiterated that for Uzbekistan, investment is not merely a financial tool but a means of fostering technological advancement, human capital development, and global integration. “Uzbekistan is creating all the necessary conditions for foreign investors who come to us with such noble intentions, and we fully support and guarantee their activities,” he declared.
Participants of the plenary session commended Uzbekistan’s reform agenda and expressed strong interest in enhancing investment cooperation across strategic sectors.
The Fourth Tashkent International Investment Forum continues through June 12. On June 11, the President of Uzbekistan will chair a plenary session of the Foreign Investors Council.
