Russia Pours 4 Trillion Rubles Into Uzbekistan Economy

Tashkent, Uzbekistan (UzDaily.com) — Russia has staked more than 4 trillion rubles across roughly 150 major investment projects in Uzbekistan, Russian Prime Minister Mikhail Mishustin told delegates at the Fifth Tashkent International Investment Forum (TIIF), framing the bilateral relationship as a deliberate hedge against global economic fragmentation.

Addressing the forum's plenary session, Mishustin said approximately 3,000 Russian companies currently operate on Uzbek soil — a footprint he described as having reached "a fundamentally new level" against a backdrop of trade wars, unfair competition, and mounting geopolitical instability forcing nations to rewire their industrial, technological, and logistical supply chains.

Energy as the Cornerstone

Energy dominates the partnership's agenda. On the sidelines of the St. Petersburg International Economic Forum, Presidents Vladimir Putin and Shavkat Mirziyoyev formally launched construction of the first power unit of a Russian-designed nuclear power plant in Uzbekistan — a landmark project that Mishustin cited as emblematic of the relationship's strategic depth.

Russian companies are simultaneously supplying energy resources, expanding a network of fueling stations across the country, and spearheading a large-scale reconstruction of the Central Asia–Center gas pipeline, which upon completion will significantly increase transmission capacity. Joint development of new hydrocarbon deposits is also underway, supported by a newly established shared drilling management center. Russian engineers are additionally contributing to the construction of the republic's largest hydroelectric stations.

Industrial Parks and Manufacturing Clusters

On the manufacturing front, Mishustin pointed to a network of joint technology parks as the backbone of bilateral industrial cooperation. Facilities are already operational in the Tashkent and Jizzakh regions, with an industrial park in the city of Navoi inaugurated as recently as April 2026. A rail car manufacturing cluster is under construction, alongside assembly facilities for commercial vehicles.

Development Bank VEB.RF and its subsidiary, the Russian Export Center, are providing financing and institutional support for these initiatives, and a joint investment platform has been launched with its first pilot projects already receiving funding.

Food Trade Surges

Agricultural trade is also accelerating rapidly. Mishustin cited figures showing that agricultural product turnover between the two countries grew by nearly one and a half times in the first four months of 2026 compared to the same period last year.

A Samarkand–St. Petersburg Tourism Corridor

Among the broader Eurasian initiatives Mishustin endorsed was a proposal by President Mirziyoyev to establish a creative tourism corridor stretching from Samarkand to St. Petersburg. Mishustin noted that the initiative would be taken up the following day at an international conference on cultural ties and creative industries in St. Petersburg — a signal that the concept is moving from aspiration to active diplomatic deliberation.

He also expressed support for Mirziyoyev's calls to build a Eurasian belt of technological industrialization — encompassing full-cycle production from R&D to market — and a joint AI-powered digital ecosystem with a unified digital employment profile and human capital development platform. Mishustin confirmed the Russian government has already begun fleshing out these proposals under directives from President Putin.

Closing his remarks, Mishustin extended an open invitation to forum participants to attend Innoprom, Russia's flagship international industrial exhibition, scheduled for early July in Yekaterinburg.