Uzbekistan Aims to Attract US$2 Billion in Venture Investments by 2030

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan plans to increase the number of startups to 5,000 by 2030, creating at least 20,000 new jobs, the president’s office announced on January 20 during a government meeting chaired by President Shavkat Mirziyoyev.

It was noted that in 2024–2025, the total valuation of the country’s startup and venture ecosystem reached US$3.9 billion. The country hosts over 750 local startups, supported by 15 venture funds, with total venture capital exceeding US$180 million. By 2030, this figure is expected to grow to US$2 billion.

A four-stage support system is being implemented for startups, covering the idea, development, launch, and scaling phases. Measures include grants, tax incentives, co-financing mechanisms, and compensation for export-related expenses.

“We aim to ensure at least 500 startup projects valued at over US$1 million, at least 100 startups exceeding US$10 million, and at least 25 startups over US$100 million. The President instructed that efforts should go beyond policy adoption and include active promotion and popularization of these initiatives,” said Minister of Digital Technologies Sherzod Shermatov in an interview with the “Uzbekistan 24” channel.

Minister Shermatov also highlighted the recent adoption of a law on artificial intelligence, aimed at preventing misuse of AI technologies. “Previously, there were no clear definitions of what artificial intelligence is, how it works, or its areas of application, nor a proper legal framework,” he noted.

As part of AI expansion, laboratories will be established in 15 leading universities, enabling graduates to earn AI leadership certificates and master at least one foreign language in their professional field. At least 100 digital services will be added to the MyGov.uz portal.

The President instructed the introduction of AI technologies in over 50 public services, the creation of a Unified Population Registry, and full digitalization of business registration, individual entrepreneur employment records, bank card issuance, SIM card provision, and delivery of insurance and advertising services.

Additionally, the head of state emphasized the need to expand 5G, high-speed internet, and satellite communication technologies across the regions.

These measures aim to ensure comprehensive digitalization of the economy and create conditions for the large-scale development of innovative companies in Uzbekistan.