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Uzbekistan Hosts Fourth Tashkent International Investment Forum, Seals $26.6 Billion in New Investment

From June 9-12, the Uzbek capital hosted the Fourth Tashkent International Investment Forum (TIIF), attracting more than 2,500 participants from 93 countries. Among the attendees were ministers, global corporate leaders, financial institutions, and economic experts. The forum served as a strategic platform for promoting Uzbekistan’s investment climate, advancing its reform agenda, and strengthening global partnerships. Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, underscored the country’s progress as an emerging regional investment hub. “Over the last seven years, major reforms have been carried out to liberalize the economy, improve the business climate, and create favorable conditions for investors,” he stated. Uzbekistan has drawn more than $90 billion in foreign direct investment in recent years, contributing to a 6.5% GDP growth in 2024. A Vision for 2030 The government’s “Uzbekistan 2030” development strategy aims to raise national GDP to $200 billion by the end of the decade. Foreign investment is central to achieving this target, and forums like TIIF are integral in showcasing Uzbekistan as a stable and attractive investment destination. This year’s forum concluded with the signing of investment agreements worth $26.6 billion. Since TIIF’s inception in 2022, it has facilitated 357 investment deals valued at $44 billion. Of these, 57 projects have been completed, with 263 others in development. Saudi Arabia led new investment commitments with $10.7 billion, followed by China ($7 billion), Russia ($5.5 billion), the UAE ($4.6 billion), Turkey ($3.6 billion), Germany ($3.4 billion), and France ($2 billion). Rising Global Interest Coinciding with the forum was the release of a new Investor Perception Report by Montfort Eurasia. The report highlights a threefold increase in interest from U.S. and UK investors in Central Asia and the Caucasus since 2023. Improved investor awareness and sectoral potential were cited as key drivers of this surge. John Mann, Director at Montfort Eurasia, emphasized Uzbekistan’s potential: “One opportunity that stood out to me was mining. A new mining law passed earlier this year has created a solid framework for foreign companies, particularly those interested in critical minerals.” Mann also identified pharmaceuticals, agriculture, and urban development as promising sectors, and stated that Uzbekistan’s geographic position is ideal for regional manufacturing hubs. According to Montfort’s data, U.S. and UK investors now rate their understanding of the region at 7.36 out of 10, up from 4.92 in 2023. “There’s definitely been progress,” Mann noted. “More executives are showing interest in emerging markets, and there’s a better understanding of this region. However, concerns remain around investment security and political stability.” Despite such concerns, 47% of surveyed investors expressed strong interest in Central Asia, up sharply from 15.5% last year. Leading sectors included industrial and manufacturing (63.5%), oil and gas (57.9%), and mining and natural resources (49.2%). Regional Integration and Vision In his address to the forum, President Shavkat Mirziyoyev highlighted that trade with neighboring countries has increased 3.5 times over the past eight years, reaching nearly $13 billion. To accelerate regional economic integration, he proposed developing a “Concept of an Integrated Region for Investment and...

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Central Asia Responds to Escalation Between Israel and Iran

Following extensive Israeli airstrikes on Iranian territory, defined by the Israeli military as a “preventive action” targeting Tehran’s nuclear infrastructure, Central Asian governments have begun responding to the escalating conflict by reinforcing security protocols for their citizens in the region. Kazakhstan: Embassy Issues Guidelines for Citizens in Israel The Embassy of the Republic of Kazakhstan in Tel Aviv has issued an official advisory to Kazakh citizens residing in or visiting Israel. The statement recommends: Adhering strictly to instructions from the Israeli Home Front Command; Maintaining heightened vigilance; Monitoring verified news and official announcements; Staying in regular contact with the Kazakh diplomatic mission. Emergency hotlines have also been activated to provide immediate assistance to nationals. Uzbekistan: Warning to Citizens in Iran and Israel Uzbekistan’s Ministry of Foreign Affairs has released a public advisory urging citizens in both Iran and Israel to exercise maximum caution. Recommendations include: In Iran, being prepared to take shelter in designated bomb shelters; In Israel, strictly following the directives of local authorities and the military; Keeping identification documents and embassy contact information readily accessible; Following updates through official and verified information channels. The Foreign Ministry emphasized that the security situation remains volatile and requires prompt attention from Uzbek citizens in the affected areas. Airlines Reroute to Avoid Conflict Zone Kazakh carriers Air Astana and FlyArystan have altered several flight routes to avoid Iranian and Iraqi airspace, which has been closed amid rising tensions. Destinations affected include Dubai, Doha, Sharm El-Sheikh, Manama, and Medina. Passengers are advised to check their flight status in advance, as changes to departure and arrival times are expected. Regional Watch: Kyrgyzstan, Tajikistan, Turkmenistan As of June 13, Kyrgyzstan, Tajikistan, and Turkmenistan have not issued formal statements regarding the conflict. However, diplomatic sources report that embassies and consulates across the region have been placed on high alert and are closely monitoring developments. Earlier today, the Israeli military confirmed the launch of a military operation targeting what it described as “dozens of strategic sites” in Iran, including suspected nuclear facilities. Tehran has condemned the strikes and pledged a “harsh and symmetrical response.” The international community has expressed growing concern that the conflict could broaden, destabilizing the wider region.

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Opinion: China–Central Asia Partnership – Seeking Opportunity in a World of Uncertainty

Leaders from China and the five Central Asian countries will gather in Astana on Monday, two years after their inaugural summit in the Chinese city of Xi’an. However, as Chinese President Xi Jinping has often noted, “Our world is undergoing profound changes unseen in a century." The geopolitical landscape is markedly different from that of their first meeting, with both China and the Central Asian nations now facing a world of increasing uncertainty. In April, foreign ministers from China and the Central Asian countries convened in Almaty, Kazakhstan, where Chinese Foreign Minister Wang Yi expressed concern over the rising tide of protectionism and unilateralism. He criticized the United States for launching a tariff war against more than 180 countries, saying it undermines international trade and destabilizes the global economy. Wang reaffirmed China’s commitment to openness. “China will consistently promote a high degree of openness, share opportunities with the world, and take responsibility for upholding international norms,” he said. Wang’s remarks were echoed by the Central Asian representatives, who voiced strong support for China’s vision of building a “community with a shared future” and pledged to deepen cooperation under the Belt and Road Initiative (BRI). Kazakhstan’s Foreign Minister Murat Nurtleu, said that China and Central Asian nations have set clear guidelines for collaboration in trade, energy, transport and logistics, education, and science. The ties between China and Central Asia stretch back to the ancient Silk Road camel caravans that carried not only goods but also cultures. At the first China-Central Asia summit in Xi’an, Chinese President Xi said: “Back in 2013, I put forward the initiative of jointly building a Silk Road Economic Belt during my first visit to Central Asia as Chinese president.” Like an echo of millennia past, the ancient Silk Road now finds its modern expression through connectivity and cooperation. In May, the first tourist train linking the Chinese city of Xi’an and Almaty, the largest city in Kazakhstan, made its inaugural journey. Also in May, Kyrgyzstan’s State Civil Aviation Agency reached an agreement with Chinese aviation authorities to open a new air route to the Chinese city of Kashgar. As part of the Air Silk Road initiative, this will become the second direct air link between Central Asia and Western China. [caption id="attachment_32911" align="aligncenter" width="1179"] The first tourist train between Xi'an and Almaty; image: CGTN[/caption] This is in addition to a key milestone in the China–Kyrgyzstan–Uzbekistan railway project. In April, construction began on a 12-kilometer tunnel in Kyrgyzstan’s Jalal-Abad region. At the groundbreaking ceremony, Kyrgyz Deputy Chairman of the Cabinet of Ministers, Bakyt Torobayev, stated: “This project is not only of infrastructural importance. It paves the way for improved quality of life, economic growth, and stronger ties between regions and peoples.” [caption id="attachment_32913" align="aligncenter" width="1179"] China–Kyrgyzstan–Uzbekistan railway; image: CGTN[/caption] Beyond infrastructure, Kyrgyzstan is working to integrate with China’s banking payment system. A significant step was taken during a recent meeting in Beijing, where the finance ministers of both countries agreed to establish financial infrastructure for cross-border settlements...

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Uzbek President Welcomes U.S. Officials and Business Leaders Ahead of Tashkent International Investment Forum

On June 9, ahead of the Tashkent International Investment Forum, President Shavkat Mirziyoyev welcomed a senior delegation of U.S. business leaders and government officials, underscoring deepening economic ties between Uzbekistan and the United States. Among the participants were U.S. Assistant Secretary of State Eric Meyer, U.S. International Development Finance Corporation (DFC) Vice President Bethany Brez, American-Uzbek Chamber of Commerce Chair Carolyn Lamm, and executives from Boeing, Visa, NASDAQ, Coca-Cola, Morgan Stanley, Franklin Templeton, FLS, Air Products, and others. Mirziyoyev noted that the meeting reflected growing U.S. interest in Uzbekistan’s reform-driven and investment-oriented economy. In 2024, bilateral trade between Uzbekistan and the U.S. reached $882 million, a 15.2% increase from 2023. Of this, Uzbek exports to the U.S. totaled $314.7 million, while imports stood at $564.3 million. Despite this growth, exports to the U.S. still account for only 1.2% of Uzbekistan’s total export volume, according to economist Mirkomil Kholboyev. During the Uzbekistan-U.S. Business Forum in Tashkent, DFC Vice President Brez led discussions on joint projects in critical minerals. The DFC, with a $60 billion mandate, supports global investment in sectors such as energy, infrastructure, and advanced manufacturing. [caption id="attachment_32862" align="aligncenter" width="2560"] Image: Uzbekistan–U.S. Business Forum[/caption] Digital innovation emerged as a key area of cooperation. According to a recent UNDP study, Uzbekistan plans to implement 100 priority artificial intelligence models by 2030 and establish supercomputing labs at major universities. USAID has previously supported this digital agenda by enabling Uzbek startups to engage with Silicon Valley investors and participate in TechCrunch Disrupt in October 2024, strengthening linkages with the U.S. tech ecosystem. Transport and energy infrastructure modernization also featured prominently in the talks. In January 2025, Uzbekistan Airways signed a memorandum with Boeing to acquire fourteen 787-8 Dreamliners, a multibillion-dollar deal with deliveries expected by 2032. Meanwhile, USAID partnered with Uzbekistan on energy sector reform, including support for drafting the “Law on the Electric Power Industry,” which introduces transparent tariff policies and facilitates private-sector entry. Tourism and small business development were additional focus areas. USAID’s five-year, $17.7 million Business Support Project has targeted key sectors such as ICT, tourism, textiles, and the green economy. Under this initiative, the Association of Private Tourism Agencies of Uzbekistan launched new training modules and classification standards for family-run guesthouses in Bukhara, Samarkand, and Tashkent, promoting sustainable, community-based tourism. Throughout the meeting, U.S. business leaders expressed support for Uzbekistan’s reform agenda and presented specific proposals, ranging from expanding fintech infrastructure to piloting AI-driven logistics platforms. The exchanges reflected a mutual commitment to strengthening the U.S.-Uzbek partnership across a wide range of strategic sectors.

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Mirziyoyev Proposes Regional Investment Concept as Trade Hits $13 Billion

President Shavkat Mirziyoyev opened the Fourth Tashkent International Investment Forum on June 10 with a wide-ranging address emphasizing deeper global cooperation, peaceful conflict resolution, and renewed investment in green energy, digital transformation, and regional integration. His remarks underscored Uzbekistan’s economic ambitions and its aspiration to be a constructive global actor, according to the presidential press service. “We welcome more than 7,500 delegates today, including nearly 3,000 foreign guests from around 100 countries,” Mirziyoyev said. “This is a true expression of respect for our country and a sign of mutual trust.” Dignitaries included presidents and prime ministers from Bulgaria, Slovakia, Kazakhstan, Kyrgyzstan, Tajikistan, Azerbaijan, and senior officials from Russia and Turkmenistan. Also in attendance were leaders of major financial institutions such as the European Bank for Reconstruction and Development and the New Development Bank. Addressing Global Challenges Mirziyoyev painted a sobering picture of current global instability. “The global arms race is intensifying,” he noted, citing a 50% increase in military spending since 2010, now totaling $2.5 trillion. He criticized the erosion of international law and diplomacy, citing food insecurity, poverty, and climate change as growing threats. He also condemned the humanitarian crisis in Gaza: “In the 21st century, the death of so many innocent people before our eyes cannot be justified,” he said, urging a fair resolution in line with international law. On Ukraine, he reiterated Uzbekistan’s position that the conflict must be resolved through diplomacy. Mirziyoyev also advocated for continued engagement with Afghanistan, stressing that “stability and economic development in Afghanistan are key factors for long-term progress in the entire region.” Economic Vision and Sustainability Turning to economic progress, Mirziyoyev highlighted that Uzbekistan’s GDP has doubled over the past eight years and is on track to reach $200 billion by 2030. In 2023 alone, Uzbekistan attracted $35 billion in investment and exported goods worth $27 billion. He pointed to major improvements in global rankings: a 48-place rise in the Index of Economic Freedom, a 28-spot climb in Harvard’s Economic Complexity Index, and a recent S&P credit rating upgrade from “stable” to “positive.” He outlined four strategic priorities for sustainable growth: 1. Green Energy Transition Uzbekistan has attracted $6 billion in foreign direct investment in renewable energy, with electricity production rising from 59 to 82 billion kilowatt-hours and projected to exceed 120 billion by 2030. Green energy will make up 54% of the total by then. New measures include privatizing power grids, issuing green certificates and carbon credits, and joining international carbon markets. A new climate investment platform, “Green Uzbekistan”, will be launched this year. 2. Digital Transformation and Artificial Intelligence Mirziyoyev said IT exports are expected to reach $1 billion in 2025, with plans to increase fivefold by 2030. Uzbekistan has climbed 17 spots in the International AI Readiness Index and is developing a national AI model reflecting its cultural identity. Infrastructure plans include 20 new data centers and a national cloud platform, alongside the “One Million AI Leaders” initiative to build future digital skills. 3. Financial Sector Modernization Uzbekistan...

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Opinion: Xi Jinping Heads to Astana – What’s at Stake in the Central Asia-China Summit?

On June 16-17, President Xi Jinping of the People’s Republic of China will visit Kazakhstan. The second Central Asia-China summit is scheduled for June 17 in Astana. Leading up to the event, a series of forums, meetings, and conferences have been unfolding across Central Asia and China, drawing experts, journalists, diplomats, and energy-sector representatives. These activities suggest that the upcoming summit is poised to overshadow its predecessor. While U.S. analysts continue debating the viability of their own C5+1 framework for engaging with Central Asia, and the European Union advanced its outreach with the inaugural EU-Central Asia summit, China has relied on a well-worn path. The thousand-year legacy of the Middle Kingdom is filled with moments when it had to engage with the complex mosaic of Central Asia, once a turbulent region of khanates, emirates, and nomadic tribes. Despite the chaos, China succeeded in carving out a secure overland corridor, the Great Silk Road, which threaded through what are now the independent Central Asian republics, linking them like beads in a continental necklace. Then, as now, China is seeking stability in the region, not just for political influence but to safeguard its global supply chains. Beijing’s modern initiatives, including the Belt and Road Initiative and its broader “community of shared future” concept, aim to establish global “islands of comfort” conducive to Chinese interests. At the heart of this strategy lies a deeply embedded worldview: that China represents civilization itself. The Chinese learned long ago to deal with their neighbors not with violence, but through economic incentives, a method which is proving just as effective today. This layer of understanding is notably absent in many Western and post-Soviet analyses of China’s actions in Central Asia, the Middle East, Africa, and beyond. The reasons for this are twofold. First, Chinese officials are careful never to state views about cultural hierarchies explicitly; doing so would risk alienating partners. This reticence is a feature of traditional Eastern diplomacy. Second, Beijing has cultivated its own expert ecosystem within the post-Soviet sphere. In response to a wave of Sinophobia that swept through Central Asia a decade ago, China now primarily engages with favorable media outlets and Sinologists, many of whom are nurtured through carefully managed media tours. One such tour, organized by People’s Daily, is currently underway ahead of the Astana summit. As a result, the discourse surrounding the summit is shaped less by hard policy proposals than by diplomatic pageantry, with everything presented in the best possible light. At the recent 5th Forum of Think Tanks, “Central Asia-China: New Horizons for Regional Partnership,” Kazakhstan's State Councilor Yerlan Karin likened China and Central Asia to “the two lungs of Asia,” emphasizing the symbolic depth of their growing relationship. The 6th Central Asia-China Foreign Ministers’ Meeting, chaired by Chinese Foreign Minister Wang Yi and held in Almaty in April, likewise offered little in terms of concrete summit outcomes. According to a general statement from Kazakhstan’s Foreign Ministry, topics included political dialogue, trade, connectivity, sustainable development, and security cooperation,...