Mirziyoyev Sets Six Investment Priorities at Tashkent Forum

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan's President Shavkat Mirziyoyev addressed the plenary session of the fifth Tashkent International Investment Forum, outlining key directions for the country's investment policy and reaffirming Uzbekistan's openness to equitable and mutually beneficial cooperation with foreign investors.

The forum brought together heads of government and senior representatives from a number of countries, international financial institutions, banks, investment funds, and major corporations. Organisers said the event attracted more than 10,000 delegates from over 100 countries.

The president noted that ongoing reforms were already delivering tangible results. The Uzbekistan economy grew by 7.7 percent last year, and gross domestic product this year is expected to exceed US$180 billion.

Investment inflows reached US$43 billion. The country's international reserves exceeded US$70 billion, and more than US$123 billion in foreign investment had been attracted to the economy over the past five years.

Mirziyoyev emphasised that a stable investment environment remained one of the key factors in achieving the country's long-term goals, and presented six priority areas for deepening investment cooperation.

A central project will be the creation of the Tashkent International Financial Centre, operating under a special legal regime. Participants will benefit from tax and customs privileges, guarantees of free capital movement, and the ability to conduct settlements in any currency. Plans also include the introduction of international arbitration and a commercial court with the participation of foreign specialists.

Significant attention was given to capital market development. The president said Uzbekistan had placed bonds worth more than US$16 billion on international markets in recent years and had completed the largest IPO on the London Stock Exchange in the past five years. Preparations are continuing to bring new companies to international capital markets.

Strategic objectives include expanding production with high added value. Particular emphasis was placed on the chemical industry, mechanical engineering, robotics, light industry, electrical engineering, construction materials, and pharmaceuticals. The president also highlighted the country's critical minerals potential, estimated at US$3 trillion.

Green energy and artificial intelligence featured prominently in the address. The share of renewable energy sources in the country's energy mix is planned to reach 54 percent in the coming years. Alongside this, plans provide for the creation of energy storage systems, modernisation of electricity grids, and the development of data centres powered by clean energy.

The president announced the establishment of a special zone in Karakalpakstan for artificial intelligence projects and data processing centres, operating under a preferential tax regime. Work is also under way to create the Uzbekistan International Digital Technologies Centre with special legal status.

Regional transport connectivity projects were named among the priorities. Uzbekistan is continuing work on the China-Kyrgyzstan-Uzbekistan railway, the development of the Trans-Afghan Corridor, and Middle Corridor routes. Construction of the new Tashkent international airport, which will have capacity for up to 20 million passengers per year, is also ongoing.

A separate section of the address focused on regional development and urbanisation. The president said plans called for doubling the volume of residential construction by 2040 and raising the urbanisation rate from the current 51 percent to 65 percent. Major projects cited include the construction of New Tashkent city and the development of large regional centres.

The president also highlighted the potential of the tourism sector to receive between 15 and 20 million foreign tourists annually, as well as the prospects of the agro-industrial sector, whose exports could grow from the current US$3.5 billion to US$10 billion in future.

Concluding his remarks, the president endorsed an initiative to create a Regional Alliance of Investment Councils of Central Asian and Caucasus countries and confirmed Uzbekistan's readiness to continue systematic dialogue with international investors.

He said investment was viewed not only as a source of capital, but as an opportunity to attract modern technologies, knowledge, new jobs, and sustainable development for the country.