Key facts
- Nearly 4,000 participants from over 100 countries attended the Tashkent International Investment Forum.
- Uzbekistan plans to establish a new international financial center operating under English common law principles.
- The country aims to attract foreign investment through tax incentives and expanded capital markets.
- Uzbekistan has secured over $150 billion in foreign investment in recent years, with $123 billion in the last five.
- Six priority areas for investment include legal guarantees, capital markets, manufacturing, green energy, AI, and transport connectivity.
The fifth Tashkent International Investment Forum brought together nearly 4,000 participants from over 100 countries, including government leaders, international financial institutions, and global companies, to discuss investment opportunities, regional connectivity, and industrial development in Uzbekistan.
During the opening ceremony, President Shavkat Mirziyoyev unveiled plans for a new international financial center, which will operate under a dedicated constitutional law and a special legal regime based on English common law principles. This initiative aims to strengthen legal protections for investors, expand capital markets, and accelerate industrial development. The center is set to offer extensive tax incentives, including exemptions from corporate income tax, VAT, property tax, and customs duties for an initial 50-year period. Laziz Kudratov, Uzbekistan's Minister of Investment, Industry and Trade, stated that this framework would allow foreign finance companies to operate according to international standards and common law, without needing to navigate local legislation.
President Mirziyoyev highlighted Uzbekistan's financial achievements, noting that the country has attracted over $150 billion in foreign investment in recent years, with $123 billion secured in the past five years alone. He pointed to the country's economic growth of 7.7% last year and international reserves exceeding $70 billion as evidence of its reform trajectory. Uzbekistan's GDP is projected to surpass $180 billion this year, and the country has improved its international credit standing, advancing 14 positions in the Index of Economic Freedom.
Six priority areas for future investment cooperation were outlined by President Mirziyoyev: strengthening legal guarantees for investors, developing capital markets and alternative financing instruments, expanding high value-added manufacturing, deepening cooperation in green energy and artificial intelligence, improving regional transport connectivity, and increasing investment cooperation in regional development. The government also plans to adopt new legislation on capital markets and alternative investment funds, launch sovereign Islamic bonds, and privatize assets worth approximately $6 billion this year.
International cooperation was a prominent theme, with Albanian President Bajram Begaj attending and emphasizing shared ambitions in regional connectivity. Discussions also focused on the EU-Central Asia Strategic Partnership for Investment, Trade and Sustainable Infrastructure Development, highlighting growing cooperation in transport, energy, and critical raw materials. On the sidelines, President Mirziyoyev held bilateral meetings with leaders from Kazakhstan, the UAE, China, the UK, and ACWA Power to discuss expanding cooperation in energy, infrastructure, industry, transport, and investment projects.