Central Asia Monitoring Desk-Islamabad
President of Uzbekistan Shavkat Mirziyoyev has outlined an ambitious six-point programme aimed at strengthening investor protection, expanding capital markets, accelerating industrial modernisation and positioning the country as a major financial, technological and logistical hub connecting Asia and Europe.
Addressing the plenary session of the Fifth Tashkent International Investment Forum on June 17, President Mirziyoyev said Uzbekistan remained open to equal and mutually beneficial cooperation with international investors and was prepared to provide stronger institutional and legal guarantees for foreign capital.
The high-level forum was attended by Albanian President Bajram Begaj, Russian Prime Minister Mikhail Mishustin, Azerbaijani Prime Minister Ali Asadov, Belarusian Prime Minister Alexander Turchin, Kazakh Prime Minister Olzhas Bektenov, Kyrgyz Cabinet Chairman Adylbek Kasymaliev and Tajik Prime Minister Kohir Rasulzoda.
New Development Bank President Dilma Rousseff also participated alongside representatives of international financial institutions, global corporations, investment funds, foreign banks and business organisations. More than 10,000 delegates from over 100 countries attended the forum, held under the theme “Investment Resilience: New Frontiers, New Partnerships.”
President Mirziyoyev said investors were increasingly looking towards countries capable of protecting business rights, ensuring economic stability and creating opportunities for sustainable growth. He maintained that Uzbekistan’s reform programme was already delivering measurable results.
The Uzbek economy grew by 7.7 percent in 2025, while gross domestic product is expected to exceed $180 billion this year. Investment attracted during the previous year reached $43 billion, international reserves surpassed $70 billion and the national currency remained stable. Uzbekistan has attracted more than $150 billion in foreign investment in recent years, including over $123 billion during the past five years.
The first priority announced by the president was the strengthening of legal protections for investors. A Tashkent International Financial Centre will be established under a special legal system, offering tax and customs incentives, guarantees for the free movement of capital and permission to conduct settlements in different currencies.
The proposed centre will include an independent financial regulator and mechanisms for financial technology, digital assets and green financing. International arbitration and commercial courts involving foreign judges and experts are also planned. Uzbekistan additionally intends to join the United Nations Singapore Convention on Mediation to reinforce the enforceability of international commercial settlements.
Reuters reported that the financial centre is expected to operate under English common law, with zero rates for profit tax, value-added tax, property tax and customs duties for eligible participants. The proposed independent regulator would be authorised to issue its own regulatory instruments.
The second priority focuses on developing Uzbekistan’s capital market and introducing modern financial instruments. The country has issued more than $16 billion in bonds on international markets and recently completed what officials described as its largest London Stock Exchange listing in five years.
The government is preparing additional companies for international listings and developing legislation covering investment funds, venture capital, private equity and alternative financing. Sovereign Islamic bonds, or sukuk, are also expected to become a new source of investment.
The third priority seeks to expand high-value-added industrial production. Uzbekistan plans to increase the volume of high-technology industrial products by more than two and a half times, with particular attention given to chemicals, mechanical engineering, robotics, pharmaceuticals, electrical equipment, construction materials and light industry.
President Mirziyoyev also highlighted Uzbekistan’s reserves of critical minerals, estimated by the government at around $3 trillion. Foreign partners will be invited to participate in specialised “Metals of the Future” technology parks focused on processing minerals and producing higher-value industrial goods.
Green energy and artificial intelligence form another central pillar of the investment strategy. Uzbekistan expects renewable sources to account for 54 percent of its energy mix in the near future, supported by electricity-storage facilities, modernised transmission networks and data centres powered by clean energy.
A special investment zone for artificial-intelligence projects and data centres is being developed in Karakalpakstan, while an International Digital Technology Centre will operate under a preferential legal regime. Foreign experts estimate that artificial intelligence could generate at least $10 billion in additional value for the Uzbek economy.
Regional connectivity was identified as the fifth priority. Uzbekistan is advancing the China–Kyrgyzstan–Uzbekistan railway, the Trans-Afghan Corridor and the Middle Corridor to strengthen transport links between Asia and Europe. Plans also include a new international airport in Tashkent with the capacity to serve 20 million passengers annually.
The sixth priority concerns regional development and urbanisation. Uzbekistan plans to double housing construction by 2040 and raise the urbanisation rate from 51 percent to 65 percent. New Tashkent and the expansion of major regional centres are expected to create opportunities in housing, public infrastructure, tourism and municipal services.
The president said Uzbekistan could eventually welcome between 15 million and 20 million international tourists annually and generate at least $15 billion in tourism services. Agricultural exports, currently valued at approximately $3.5 billion a year, are targeted to reach $10 billion.
Participants also supported Uzbekistan’s proposal to establish a Regional Alliance of Investment Councils of Central Asia and the Caucasus, potentially laying the foundation for a broader common investment space.
Concluding his address, President Mirziyoyev said investment should not be viewed only as financial capital, but also as a source of technology, knowledge, employment and modern development. He reaffirmed that Uzbekistan would remain open to investors bringing credible ideas, long-term commitment and mutually beneficial projects.
