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Tashkent International Investment Forum

Washington and Tashkent Deepen Economic Ties at TIIF

Uzbekistan and the United States launched a joint investment platform in Tashkent on June 16 as senior U.S. officials and corporate executives gathered for the fifth Tashkent International Investment Forum, advancing cooperation in energy, infrastructure, critical minerals, and advanced manufacturing. On the eve of the forum, Mirziyoyev hosted a delegation of leading U.S. companies and government financing institutions, a gathering he described as continuing a "good tradition" that reflects the growing appetite of U.S. businesses for a larger footprint in Uzbekistan. Among those present were John Jovanovic, president and chairman of the Export-Import Bank of the United States (EXIM), and Ben Black, chief executive officer of the U.S. International Development Finance Corporation (DFC), two officials whose institutions are emerging as principal channels for U.S. financing and investment support in the country. They were joined by Carolyn Lamm, chair of the American-Uzbekistan Chamber of Commerce, alongside executives representing Air Products, Cove Capital, Templeton Global Investments, Boeing, 77 Construction, BlackRock, Visa, JPMorgan, and Meta, among others, a roster spanning aerospace, finance, technology, and industrial sectors that underscores the breadth of U.S. commercial interest in the country. [caption id="attachment_50624" align="aligncenter" width="1943"] Black (DFC), Jovanovic (EXIM), Minister Laziz (MIIT), and Shukhrat Vafayev, Executive Director (UFRD); image: president.uz[/caption] President Mirziyoyev told the delegation that the economic agenda remains one of the key pillars of the strategic partnership between Uzbekistan and the United States, and laid out priority areas for deepening trade and economic cooperation. Particular emphasis was placed on projects in the development and processing of critical minerals, along with opportunities in energy, metallurgy, finance, artificial intelligence, and digital technologies. In response, the visiting executives thanked the president for the investment climate Uzbekistan has cultivated and outlined their proposals in a roundtable that culminated in a ceremony to exchange bilateral documents with participating U.S. companies. This broader engagement builds on a relationship Washington and Tashkent have been steadily formalizing over the past several years, as Uzbekistan has positioned itself as a more open and stable partner for foreign capital amid wider efforts to reform its economy and integrate more closely with global markets. The country's reserves of critical minerals, resources considered essential to U.S. technology, defense, and energy industries, have become a strategic priority for Washington, while Tashkent has sought to leverage U.S. expertise and financing to modernize sectors from energy to healthcare. That convergence of interests has increasingly framed Uzbekistan not merely as a bilateral partner but as a node in a larger U.S. strategy toward Central Asia. At the U.S.-Uzbekistan Business Forum in Tashkent on June 16, 2026, a curtain-raiser to the broader Tashkent International Investment Forum, panelists Ben Black, John Jovanovic, and Laziz Kudratov, Uzbekistan's minister of investment, industry, and trade, discussed Tashkent's proposal for a special economic zone tailored to U.S. companies. Minerals, fertilizer production, pharmaceuticals, and textiles were identified as the four priority sectors for deeper bilateral cooperation, alongside a new U.S.-Uzbekistan Joint Investment Platform building on earlier preliminary agreements. The forum drew the largest U.S. business delegation in the...

Tashkent International Investment Forum

Mirziyoyev and Mishustin Reaffirm Strategic Alliance as Russia Says Uzbekistan Projects Top $50 Billion

TASHKENT, June 17, 2026 — President of the Republic of Uzbekistan Shavkat Mirziyoyev received Chairman of the Government of the Russian Federation Mikhail Mishustin in Tashkent on June 16, as the Russian premier arrived to take part in the Fifth Tashkent International Investment Forum (TIIF). In their meeting, the two leaders reviewed progress on implementing agreements reached at the highest level within the framework of Uzbek-Russian relations and their strategic partnership. Mirziyoyev and Mishustin backed deeper private-sector ties, regional cooperation in oil, gas, mining and agriculture, and expanded cultural and educational exchanges, points also raised in Mishustin's separate meetings with Prime Minister Abdulla Aripov and Saida Mirziyoyeva, head of the presidential administration. They expressed satisfaction at a 20% rise in bilateral trade turnover since the start of the year, and noted that major joint projects in energy, metallurgy and other priority sectors are continuing. [caption id="attachment_50632" align="aligncenter" width="1774"] Saida Mirziyoyeva, Head of the Presidential Administration of the Republic of Uzbekistan, and Mikhail Mishustin, PM of the Russian Federation. Image: RF website[/caption] Those parallel meetings underscored that the relationship now extends well into the cultural and academic sphere alongside the commercial one. Aripov congratulated Mishustin and “all our Russian friends on Russia Day. I wish the multi-ethnic people of Russia peace, stability, and continued prosperity,” he said. Aripov went on to note that two-way trade has more than tripled over the past decade to surpass $13 billion, with the combined portfolio of joint projects now standing near $47 billion. Mirziyoyeva, in turn, highlighted recent cultural exchanges held around the St. Petersburg International Economic Forum, including a Mariinsky Theatre premiere of the opera “Tamerlane” and exhibitions at the Hermitage and the Fabergé Museum, while officials on both sides pointed to the large number of Russian university branches operating in Uzbekistan as evidence of deepening educational ties. Of key significance in the Uzbek-Russian relationship is the construction of Uzbekistan's first integrated nuclear power station, which will be built to a Russian design. Putin and Mirziyoyev marked the launch by video link during the St. Petersburg forum, as concrete was poured at the project site. Russian engineers are also involved in the construction of the country's largest hydropower plants. A joint center for managing drilling operations has been created, and a major project is underway to upgrade the Central Asia-Centre gas pipeline and expand its capacity. [caption id="attachment_50634" align="aligncenter" width="1774"] Image: President.uz[/caption] Mishustin’s TIIF Address Speaking at the TIIF opening ceremony on June 17, Mishustin set the bilateral relationship against the backdrop of a strained global economy. “The global economy is undergoing a profound transformation these days amid growing turbulence and escalating trade wars, the wide application of protectionist measures and unfair competition. Of course, all this means that we, our countries, must work on systemic objectives. The way we address them will define whether we succeed in fostering steady economic development for our countries and improving the quality of life for our people,” he said. Mishustin told the forum that “Russia is among...

FIFA World Cup

World Cup: Diaz’s quality shows as Colombia beat Uzbekistan 3-1

In the breathless air of Mexico City, Colombia overcame a spirited Uzbekistan 3-1 in the first-ever FIFA World Cup game involving a Central Asian side. In a match which was otherwise low on quality, the difference-maker was Bayern Munich’s Luis Díaz. He created Colombia’s first goal, scored the second after Uzbekistan had briefly equalized, and gave the favorites a cutting-edge that they had otherwise lacked. For Uzbekistan, the defeat was not a humiliation. Abbosbek Fayzullaev’s second-half equalizer, the first World Cup goal scored by a Central Asian country, will go down in history. There was even a spell late when Colombia were made to sweat, camped in their own half against a side that many saw as easy pickings. In the end, Jaminton Campaz's third in the eighth minute of stoppage time gave the result a gloss that perhaps flattered the South Americans, who were not at their best. Worlds Apart It is hard to think of two more contrasting countries than Uzbekistan and Colombia. One is arid and double-landlocked, the other tropical, with coasts on the Pacific and the Caribbean. One is a staunch tea culture, the other one of the world’s great coffee exporters. Colombia is in the middle of a febrile election campaign, with a runoff vote due on June 21 that pits the far-left and the far-right. Uzbekistan, by contrast, has never had an election where the winner has received less than 80%. Fortunately, they both quickly found common ground on the pitch by playing some insipid, uninspiring football. Uzbeks are rightly famed for their hospitality, and there was no shortage of accommodation for the Colombian forwards as Uzbekistan welcomed the opposition into their half, sacrificing possession to maintain a solid defensive shape. Sitting back and inviting pressure was always a risk. Mexico City's Estadio Azteca, 2,200 meters above sea level and the scene of the World Cup finals of 1970 and 1986, was full of canary yellow Colombia shirts whose raucous cacophony grew as their side dominated possession of the ball. Toward the end of the first half, the spaces began to widen. Diaz hit the post, and soon after he fashioned the breakthrough, floating a delightful ball over the top for the onrushing Daniel Muñoz, the Crystal Palace right back who, until that point, had had little to do. His improvised finish sent the hordes of Colombians into delirium. Uzbekistan did well to keep the game tight until the break, after which they played higher and with more aggression. On the hour mark came the moment that those watching across Uzbekistan will have been dreaming of. Eldor Shomurodov, who had spent much of the game isolated up front, sent a crashing volley that forced the Colombian goalkeeper Camilo Vargas into a hurried save. The ball spilled loose, leaving Fayzullaev with the simplest of tasks to nod home from point-blank range. Uzbekistan had their first World Cup goal. For five glorious minutes, it looked like another vindication for FIFA’s expanded tournament. The 48-team format has...

Tashkent International Investment Forum

Kyrgyz PM Courts Investors in Tashkent With Call for Shared Regional Future

Tashkent (June 17): Speaking to a packed audience at the opening of the fifth Tashkent International Investment Forum, Kyrgyz Prime Minister Adylbek Kasymaliev, chairman of the Cabinet of Ministers and head of the Presidential Administration, opened his remarks with a sober assessment of the global landscape: "The global economy is undergoing a period of profound transformation: a technological revolution, an energy transition, the reshaping of global supply chains, growing demand for critical minerals, and the need to ensure food security are together creating new conditions of international competition while also opening new opportunities for cooperation." Despite global uncertainty, Kasymaliev argued that success would favor countries willing to cooperate and move quickly: "the countries that benefit most are those that make decisions faster, establish clear rules, and remain open to long-term partnership." In this context, Kasymaliev cast Tashkent as much more than a venue for dialogue. "Today, Tashkent is once again becoming a platform for discussing the common future of the region," he said, noting that mutual benefit offered a better path than zero-sum competition. His remarks rested on the premise that Central Asian states gain more from unity than from going it alone, and that the region's economic trajectory now hinges on its members' willingness to act as partners rather than rivals. Kasymaliev placed Kyrgyzstan's outlook within the National Development Program through 2030, which he said is built around accelerated industrialization, export expansion, digital transformation, and deeper regional integration, with the explicit goal of moving the country into the ranks of upper-middle-income states by decade's end. He cited 2025 GDP growth of 11% as evidence the strategy is already bearing fruit. Kasymaliev then outlined six government priorities for cooperation and investment. The first is critical minerals, with an emphasis on moving beyond raw extraction toward processing and component manufacturing for green energy. The second is energy, where new renewable producers receive a five-year profit tax exemption, and officials are pursuing hydropower, solar, wind, and eventually hydrogen. The third is agribusiness and food security, centered on agro-processing, greenhouse complexes, and cold storage aimed at export markets in Central Asia, the Middle East, South Asia, and China. The fourth is transport and logistics, anchored by the China-Kyrgyzstan-Uzbekistan railway. "As our President has emphasized, it is a strategic bridge between countries and markets," Kasymaliev said, a corridor expected to cut delivery times to as little as ten days. The fifth priority is the digital economy, built around a newly enacted Digital Code and an effort to draw venture capital into the country's startup ecosystem. The sixth is capital markets, including plans to list state-owned enterprises through IPOs and the creation of the Tamchy Special Financial Investment Territory on Lake Issyk-Kul, designed as a regional hub for international capital under its own distinct legal regime. Running through all six priorities was a broader argument about timing: in a period of technological upheaval, energy transition, and shifting supply chains, the states that move fastest and cooperate most openly stand to capture the largest share of...

Tashkent International Investment Forum

Data, Minerals, and the New Tashkent: Uzbekistan Pitches Its Next Growth Phase at Investment Forum

Uzbekistan used the opening of this year’s Tashkent International Investment Forum to make a broader pitch than investment alone: the country is presenting itself as a platform for data-driven governance, value-added mineral processing, and large-scale urban development. The fifth Tashkent International Investment Forum is being held in the Uzbek capital from June 16-18, bringing together government officials, international financial institutions, business leaders, and investors as Uzbekistan seeks to reinforce its position as one of Central Asia’s leading investment destinations. Held under the theme “Investment Resilience: New Frontiers, New Partnerships,” TIIF 2026 comes as Uzbekistan continues to promote reforms aimed at attracting capital, expanding industrial production, developing digital infrastructure, and moving higher up global value chains. Mirziyoyev Sets Out Investment Priorities Addressing the forum on June 17, President Shavkat Mirziyoyev presented Uzbekistan’s recent economic performance as evidence of growing investor confidence. He said the country had attracted more than $150 billion in foreign investment in recent years, including $123 billion over the past five years. According to the president, nearly 4,000 foreign guests from more than 100 countries are attending this year’s forum, reflecting its expanding international profile. The event brought together heads of state, prime ministers, representatives of international financial institutions, and business executives from around the world. Mirziyoyev said Uzbekistan remained committed to creating a favorable investment environment through reforms designed to protect investors’ rights and broaden economic opportunities. He said GDP grew by 7.7% in 2025, foreign investment reached $43 billion, international reserves exceeded $70 billion, and Uzbekistan rose 14 places in the Index of Economic Freedom, joining the group of economies classified as “moderately free.” He also emphasized the pace of economic growth. Four years ago, he said, Uzbekistan set a target of reaching a $100 billion economy by the end of 2026; now, he said, GDP is expected to exceed $180 billion this year. Mirziyoyev also announced plans to establish the Tashkent International Financial Center, a tax- and customs-free zone operating under a special legal regime based on English common law principles. He said the center would offer zero rates on profit tax, value-added tax, property tax, and customs duties, while guaranteeing free capital movement and payments in any currency. Delta Y: A Data Infrastructure Startup Looks to Uzbekistan One of the companies drawing attention at the forum was Delta Y, a Lisbon-based data infrastructure startup seeking to help governments and cities turn fragmented information into practical decision-making tools. Founded in 2025, Delta Y describes itself as a “data infrastructure layer” for governments, institutions, and advisory firms. Its goal is to use data engineering and artificial intelligence to turn disconnected datasets into usable analysis. Co-founder Afonso Carvas said the idea emerged from his experience working with data teams in technology companies and from a broader question: whether governments and cities could gain access to the same quality of data infrastructure used by leading global companies. That question eventually led the company to Uzbekistan. Why Uzbekistan? Carvas said Delta Y first began looking at Uzbekistan after a...

Tashkent International Investment Forum

Mirziyoyev Says Uzbekistan’s Doors Will “Always Remain Open” as Fifth Tashkent Investment Forum Begins

TASHKENT, June 17 — President Shavkat Mirziyoyev opened the Fifth Tashkent International Investment Forum (TIIF) on Wednesday with a message aimed squarely at the nearly 4,000 mostly foreign delegates packed into the hall: Uzbekistan's doors are open, and the country intends to keep them that way. Speaking under this year's theme, "Investment Resilience: New Frontiers, New Partnerships," Mirziyoyev framed the forum as more than a transactional venue for capital, but as a platform to initiate and deepen long-term mutually beneficial partnerships. He described what he called the "Tashkent investment spirit" — a phrase he used to capture the event's evolution into what he called a symbol of shared success between Uzbekistan and the partners willing to back it. The sentiment ran through his closing remarks, where he told the room that “the most important partner in turning ambitious plans into reality is an investor who arrives with good intentions. Therefore, the doors of New Uzbekistan will always remain open to foreign investors who come to our country with trust and ideas.” The guest list underscored the forum's growing diplomatic prowess. Mirziyoyev personally thanked Albanian President Bajram Begaj, Russian Prime Minister Mikhail Mishustin, Belarusian Prime Minister Aleksandr Turchin, Azerbaijani Prime Minister Ali Asadov, Kazakh Prime Minister Olzhas Bektenov, Kyrgyz Cabinet Chairman Adylbek Kasymaliev, and Tajik Prime Minister Kokhir Rasulzoda, alongside senior representatives from the EBRD, the New Development Bank, the World Bank, the IFC, the Asian Development Bank, the Asian Infrastructure Investment Bank, and the European Investment Bank. Mirziyoyev cited a series of economic indicators to support the message. Uzbekistan has secured more than $150 billion in foreign investment since launching reforms, with $123 billion arriving in the last five years. In 2025, GDP expanded by 7.7%, foreign investment climbed to $43 billion, and reserves rose above $70 billion. According to Mirziyoyev, the economy is on track to exceed $180 billion this year, comfortably outpacing the $100 billion goal announced at the first forum four years ago — a sign, he said, of sustained momentum, underscored by a 14-position improvement in the Index of Economic Freedom. The pledges come as Uzbekistan seeks to deepen the economic opening launched under Mirziyoyev, with officials using the forum to market legal guarantees, capital-market reforms and new infrastructure projects to foreign investors. Mirziyoyev structured the rest of his address around six priorities. The first centers on legal guarantees for investors, anchored by the new Tashkent International Financial Center — a zero-tax-rate zone for corporate income, VAT, property, and customs duties, governed by English common law and backed by an independent commercial court staffed with foreign judges. The second targets capital markets, building on $16 billion in international bond placements and the recent National Investment Fund listing, which he called the London Stock Exchange's largest IPO in five years, with sovereign “sukuk issuance” planned next. The third priority is industrial value addition. Here, Mirziyoyev pointed to Uzbekistan's $3 trillion in estimated subsoil wealth and announced that foreign investment will be extensively channeled into the "Metals of...