Uzbekistan, Russian Firms Discuss Investment Climate

Tashkent, Uzbekistan (UzDaily.com) — On 2 April, Uzbekistan’s Minister of Investments, Industry and Trade, Laziz Kudratov, held a meeting with executives of Russian companies to address operational challenges faced by investors in the Uzbek market.

The meeting brought together representatives of major enterprises, including Magnit, Aqua-Products, Wildberries, Promomed, TCMT, Angren Pack, BCG GROUP OZ, Pipe Metal, and Siberian Wellness, among others.

Key issues discussed included product labeling requirements, VAT refunds, tariffs, and infrastructure. Following the meeting, responsible officials were appointed to oversee the implementation of proposals aimed at improving the investment climate.

Cooperation between Uzbekistan and Russia has shown steady growth. Over the past five years, bilateral trade has increased from US$5.7 billion to US$13 billion, while the number of joint ventures has tripled to exceed 3,200.

In 2025, the volume of utilized investments reached US$4.8 billion. Projects worth a total of US$43.9 billion are currently being implemented across industry, the agro-industrial sector, and pharmaceuticals.