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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...

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...

Trade Relations

Uzbekistan and Hong Kong Agree to Launch Business Council

Uzbekistan and Hong Kong have taken a step toward expanding economic ties after the Chamber of Commerce and Industry of Uzbekistan and the Hong Kong General Chamber of Commerce (HKGCC) signed a memorandum of understanding on business cooperation. According to Uzbekistan’s Chamber of Commerce and Industry, the agreement was signed during a business mission to Central Asia led by Hong Kong Chief Executive John Lee Ka-chiu. The memorandum is intended to deepen trade and economic relations and create new opportunities for businesses in Uzbekistan and Hong Kong. The document follows several months of discussions. Negotiations began in March during a visit by Uzbekistan’s Ambassador to China, Farhod Arziev, to the HKGCC. The talks continued through meetings and consultations, including a visit by a delegation from Uzbekistan’s Chamber of Commerce and Industry to Hong Kong in May. A key outcome of the agreement is the planned establishment of the Uzbekistan-Hong Kong Business Council. The platform is expected to support regular dialogue between entrepreneurs, help build commercial partnerships, and advance joint projects in trade and investment. The two sides also plan to organize business forums, B2B meetings, and trade missions to increase direct contacts between companies and investors. The agreement comes as Hong Kong increases its economic engagement with Central Asia. Earlier this month, a Hong Kong delegation visited Kazakhstan, where agreements were signed in areas including finance, logistics, technology, energy, and trade. As previously reported by The Times of Central Asia, Kazakhstan secured more than 40 commercial agreements during the visit and began discussions on new investment and tax cooperation frameworks with Hong Kong. The Chamber of Commerce and Industry of Uzbekistan said the memorandum is expected to open new opportunities for businesses in both jurisdictions while supporting increased trade and investment cooperation.

C5+1

U.S. Convenes Critical Minerals Dialogue with Central Asian Officials in Kazakhstan

ASTANA — The United States opened a new round of high-level critical minerals talks with Central Asian governments in Astana on June 10, with U.S. Special Envoy for South and Central Asian Affairs Sergio Gor saying Washington is placing new emphasis on a region it sees as central to global commerce, connectivity, and secure supply chains. Speaking at the C5+1 Critical Minerals Dialogue, Gor said Central Asia “has not gotten the attention it deserves from the United States,” and that the Trump administration had decided to change that. “We care about this region, we want to be involved with this region, we want to identify win-win situations for the United States and your nations,” Gor said. The meeting, held at The Ritz-Carlton in Astana, brought together officials from Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, and the United States. The program included sessions on geological exploration, surveying and mapping, mining and processing, and global value and supply chains, followed by a government-business networking reception. Gor thanked Kazakhstan for hosting what he described as the first in-person C5+1 Critical Minerals Dialogue and said he had met with President Kassym-Jomart Tokayev shortly before the session. Kazakhstan’s Foreign Ministry said that ahead of the dialogue, Gor and Kazakh Foreign Minister Yermek Kosherbayev had discussed economic and investment partnerships, innovation, artificial intelligence, education, transport, logistics, and critical minerals. The ministry also said the sides discussed the implementation of agreements reached between Tokayev and U.S. President Donald Trump at the White House in November 2025. Gor framed the Astana meeting as part of a broader increase in U.S. engagement with Central Asia following the C5+1 leaders’ meeting in Washington last year. He said critical minerals are now a central part of that engagement because they are essential to infrastructure, advanced technologies, industry, and national defense. “Our economic security depends on our ability to diversify our access to critical minerals,” Gor said. “Ensuring reliable access to these materials requires not only expanding production, but also building resilient, transparent, and market-driven supply chains in close partnership with trusted partners.” He added that the Central Asian states represented at the table were exactly the partners Washington wants to work with. “There’s a reason we’re sitting at this table and not at another table around the world,” Gor said. “It’s because this is where we want to work. This is where we have identified trusted partners.” Gor highlighted the role of U.S. commercial and development-finance tools in supporting investment, saying Washington is prepared to back American companies working in the region. “The United States government stands behind American companies,” Gor said. “There is no such thing as a deal too small.” Gor also pointed to the U.S. International Development Finance Corporation, saying it was preparing to “invest and build” in the region and saw potential in critical minerals, telecommunications, and Trans-Caspian infrastructure. He said DFC saw “potential to transform the region’s rich deposits of critical minerals into the foundation of a new wave of industrialization.” “President Trump understands the importance of...

U.S.-Turkmenistan Relations

Business Leaders from Turkmenistan Talk Trade on U.S. Tour

Dozens of business executives from Turkmenistan and the United States have met in Washington amid efforts by the two countries to strengthen trade. The conference of the Turkmen American Business Cooperation Association, also known by its acronym TABCA, was held on Thursday, according to Turkmenistan’s embassy in the U.S. It said the association is a “new practical platform” for expanding economic ties, with a focus on small and medium-sized enterprises. Earlier this month, business leaders from Turkmenistan attended the SelectUSA Investment Summit, an event hosted by the U.S. Department of Commerce that was designed to connect investors, companies and experts from around the world. The investment forum was held in National Harbor, Maryland. Ambassador Esen Aydogdyyev of Turkmenistan, meanwhile, has been making contacts since he was appointed to his new post in Washington in March. On May 1, Aydogdyyev met S. Paul Kapur, U.S. Assistant Secretary of State for South and Central Asian affairs. On April 22, the Turkmen ambassador held talks with Patryk Łoszewski, an executive director of the International Monetary Fund. U.S. goods trade with Turkmenistan was $152.7 million in 2025, according to U.S. government data. U.S. goods exports to Turkmenistan last year were $113.3 million, up 43.6% from the previous year, and U.S. goods imports from Turkmenistan were $39.4 million, up 169% from 2024. While those numbers are relatively low compared to the volume of trade between the United States and its bigger trading partners, the annual percentage increase is notable. One of Turkmenistan’s biggest exports to the U.S. is fertilizer. Turkmenistan has major reserves of natural gas and oil, and the Central Asian country is working to diversify its trading partners. U.S. and other foreign companies are hoping for reforms in the highly controlled country that would make it a more attractive place to invest.

Dostuk International Trade and Economic Park

Trade and Economic Park Planned at Border of Kyrgyzstan, Tajikistan, and Uzbekistan

On May 6, Kyrgyz President Sadyr Japarov visited the Dostuk Stele (Friendship) in the country’s southwestern Batken region, erected at the junction point of the state borders of Kyrgyzstan, Tajikistan, and Uzbekistan, where he reviewed the concept and master plan for the proposed Dostuk International Trade and Economic Park. During a summit in the northern Tajik city of Khujand on March 31, 2025, Presidents Sadyr Japarov of Kyrgyzstan, Emomali Rahmon of Tajikistan, and Shavkat Mirziyoyev of Uzbekistan signed a historic agreement on the junction point of the three countries’ state borders. The leaders also took part in a remote inauguration ceremony for the Friendship Stele, which marks the exact location where the borders of the three countries meet and symbolizes friendship among the three nations, the resolution of long-standing border issues, and a new stage of regional cooperation. The planned Dostuk International Trade and Economic Park would span 100 hectares and include administrative, tourism, logistics, production, commercial, and recreational zones. The project aims to strengthen trade and logistics links, attract investment, and create new economic opportunities. If implemented, the project is expected to create more than 5,000 jobs and increase cross-border trade. The concept also includes the development of tourism infrastructure and the organization of international cultural events, ethnic festivals, and exhibitions, contributing to stronger cultural and humanitarian ties while promoting the historical heritage of the Silk Road. Japarov said good-neighborly relations among Kyrgyzstan, Tajikistan, and Uzbekistan remain important, citing the role of joint infrastructure and economic initiatives in regional stability and sustainable development. He also expressed confidence that, with mutual support from the three neighboring countries, the project could become a major platform for trade and investment, as well as a symbol of peace, trust, and unity among the peoples of Central Asia.