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...
