Uzbekistan Public-Private Partnership Portfolio Expands 2.5-Fold

Tashkent, Uzbekistan (UzDaily.uz) — Uzbekistan's public-private partnership (PPP) project portfolio totaled 2,818 projects worth 437.9 trillion soums at the end of 2025, according to the Fiscal Strategy for 2027–2029. Over the year, the number of projects expanded 2.5-fold from 1,134, while the portfolio value increased by 20% from 365.1 trillion soums.

The growth in project numbers occurred primarily in non-energy sectors, where the count rose from 1,066 to 2,732. Water management leads by number of projects with 1,855, representing 65.8% of the total portfolio. Education follows with 312 projects, social facility heating accounts for 171, and construction accounts for 99.

By monetary value, the structure is reversed: 92.6% of the portfolio, or 408.1 trillion soums, is concentrated in 86 energy projects. Nearly half of the energy portfolio — 196.2 trillion soums — consists of 25 wind power plant projects, while another 100.8 trillion soums (24.7%) is accounted for by 25 solar generation projects. Combined-cycle gas turbine power plants account for 63.1 trillion soums.

The document notes that the portfolio's growth reflects progress toward the goal set by the presidential decree of 30 August 2024 to attract at least US$30 billion in private investments into PPP projects between 2024 and 2030.

The Fiscal Strategy also provides for streamlining state obligations under PPP projects: new agreements will be concluded within established limits, while state fiscal and contingent liabilities for such projects will undergo continuous analysis as part of macro-fiscal risk assessments.