The practical importance of open dialogue with investors and the value of joint efforts on new initiatives and projects were emphasized by President of Uzbekistan Shavkat Mirziyoyev during the meeting of the Foreign Investors Council, held as part of the Tashkent Investment Forum. The report comes from Gazeta.uz.
President Mirziyoyev noted that Uzbekistan’s ongoing economic reforms are already yielding tangible results. Notably, the country has shifted to a results-driven model of cooperation with international financial institutions. In 2024, the European Bank for Reconstruction and Development invested a record $1 billion in Uzbekistan, making it the bank’s largest partner in the region.
Private sector engagement has also grown significantly, with the volume of joint projects exceeding $1 billion. Member companies of the Investors Council have launched initiatives in green energy, hydrogen production, waste processing, and energy storage. Total investments from companies such as Acwa Power, Masdar, Linde, and Total Energies have surpassed $8 billion.
The president also announced the launch of the region’s largest green data center by DataVolt, and an AI-based mobile super app project by Veon. In addition, the International Finance Corporation, Ernst & Young, Dentons, Knauf, and TBC have submitted proposals to align national legislation with international standards — over 10 new laws and decrees have already incorporated these ideas.
Over the past two years, 5,500 new enterprises with foreign capital have been established in Uzbekistan, bringing the total to 16,000. Mirziyoyev reaffirmed the government’s commitment to keeping core tax rates unchanged until 2028 and announced the launch of public-private partnership (PPP) projects worth $4.5 billion across transportation, energy, water supply, and irrigation.
The president also proposed the creation of specialized working groups to address taxation, collateral law, workforce development, and corporate governance.
CentralasianLIGHT.org
June 11, 2025