During the plenary session of the 4th Tashkent International Investment Forum on June 10, President of Uzbekistan Shavkat Mirziyoyev outlined four key areas in which countries following the path of sustainable development should strengthen cooperation.

“Green” economy

“We all understand that today the global economy is on the threshold of a new era of change. This calls on all countries on the path of sustainable development to cooperate in the following four areas. The first is the transition to a “green” economy model,” Mirziyoyev noted.

He reported that almost $6 billion in direct foreign investment had been attracted to the development of green energy in a short period of time. “The volume of electricity production increased from 59 to 82 billion kWh. In the next five years, this figure will exceed 120 billion, and the share of green energy will be 54%,” the president said.

According to him, another 4 billion dollars will be invested in upgrading the power grids. This year, the power grids of Samarkand will be transferred to private management, and next year – in eight more regions.

The president also announced the launch of sales of “green certificates” and carbon units in the country. “This year we will join global carbon markets and create a platform for climate investments called “Green Uzbekistan,” he said.

Digital technologies and artificial intelligence

The second direction, the president named, is the development of digital technologies and AI. “This year alone, IT exports will reach $1 billion. We have the potential to increase this figure fivefold by 2030,” Mirziyoyev said.

He reported that Uzbekistan has risen 17 positions in the international AI readiness index in a year. “Next year, we will launch the national platform “Cloud Technologies” and, together with investors, build 20 data centers with a capacity of over 500 MW,” the head of state noted.

A national AI model will also be developed, “embodying our history, values ​​and creative ideas.” As part of the training of personnel, the “One Million AI Leaders” project has been launched.

 

“I am convinced that together with you we will turn Uzbekistan into a reputable IT and Fintech hub,” the president emphasized.

Financial system

The third area the president pointed to was the transformation of the financial sector. “For the first time, together with the IMF and the World Bank, we conducted a comprehensive assessment of the financial system of Uzbekistan. Our reforms received full support,” he said.

For further development, a Financial Stability Council will be created, and cybersecurity and fintech platforms will be created under the Central Bank. The President also announced reforms in insurance, the creation of a National Reinsurance Company and a digital platform.

“An alternative financial instrument for startups is developing rapidly – ventures. Thus, last year the value of two national startup companies exceeded 1 billion dollars for the first time. We will definitely increase the number of such companies,” he promised.

In this regard, Mirziyoyev announced the development of the law “On Alternative Investment Funds”. In the next five years, it is planned to increase the volume of ventures and other alternative investments to 1 billion dollars.

Mineral resources

The fourth direction was the processing of technological minerals. “The fourth industrial revolution increases the demand for such resources many times over. Large reserves of tungsten, molybdenum, magnesium, lithium, graphite, vanadium, and titanium have been discovered in Uzbekistan. The potential of the subsoil is estimated at $3 trillion,” Mirziyoyev said.

He stressed that Uzbekistan intends to become a regional center for the production of high-added-value products. For this purpose, the “Metals of the Future” technology parks are being built in the Tashkent and Samarkand regions.

“Investors who have established a full cycle – from geological exploration to the release of finished products – will receive a return on the rent tax within 10 years,” he said.

WTO membership – in 2026

The President said that Uzbekistan intends to complete the process of joining the World Trade Organization next year.

“We are taking all necessary measures to ensure that the principle of ‘New Uzbekistan – a country of great investment opportunities’ is translated into practical results,” Mirziyoyev noted.

“Global production chains need reliable rules that ensure equal conditions for each state. The World Trade Organization undoubtedly plays a special role in this. We have set ourselves the goal of becoming a member of this organization next year,” the president emphasized.

He added that dozens of laws and hundreds of standards have already been adapted to international requirements and this work will be completed by the end of the year.

National regime and investment protection

Mirziyoyev also announced new measures to improve conditions for foreign investors.

“A ‘national regime’ will be introduced, guaranteeing conditions equal to those of local companies. The principle of a ‘single window’ is being introduced when interacting with government agencies, and a system of guaranteed protection of investment activities from unnecessary inspections is being created,” he said.

The goal, according to the president, is to bring the country to an investment credit rating level by 2030.

Privatization and IPO of state-owned companies

The President also presented a strategy for the privatization of state assets:

“We have chosen the path of transforming state corporations into large assets serving the welfare of the country,” he said.

He announced the creation of the National Investment Fund, which united state property in 18 companies and banks worth about $2 billion. The management of the fund was transferred to the international company Franklin Templeton.

“We plan to put the fund’s share package up for an international IPO next year,” Mirziyoyev said. According to him, another 29 large state-owned enterprises will be privatized within two years with the involvement of international consultants.

Development of logistics and the New Tashkent project

The head of state called transport and logistics “the lifeblood of the economy.”

“We are actively attracting private capital to this area. The international airports of Samarkand, Namangan, Bukhara and Urgench have been transferred to investors under the PPP. The leading global company Incheon has been brought in to manage the Urgench airport. Next year, we will hold tenders for the airports of Nukus, Termez, Fergana and Navoi,” he said.

He paid special attention to the project of the new city – New Tashkent:

“The population of Tashkent has exceeded 5 million. Therefore, we will build the city of “New Tashkent” for 2 million residents and turn the capital into a megalopolis ,” the president said.

There are plans to create a multimodal transport hub with a capacity of up to 20 million passengers per year, as well as trade and financial centers. Mirziyoyev invited international banks and investors to take part in the implementation of the mega-project.

The concept of a “Single Space for Investment and Trade”

The President stressed that thanks to the “policy of openness and friendship,” a new atmosphere has been created in the region.

“Over the past eight years, trade turnover with neighboring countries has grown more than 3.5 times and reached almost $13 billion,” he noted.

He recalled the start of construction of the China-Kyrgyzstan-Uzbekistan railway and the preparation of major energy and infrastructure projects.

“We propose to promote the concept of a ‘Single Space for Investment and Trade’ in Central Asia,” he said and addressed international organizations:

“The time has come to create new financial mechanisms to support regional projects. By joining forces, we will turn Central Asia into a space of peace and sustainable development,” Shavkat Mirziyoyev emphasized.

https://www.gazeta.uz/ru/2025/06/10/invest-uzbekistan/

Machine Translated by Google