President Shavkat Mirziyoyev of Uzbekistan informed that gastronomic and artisanal streets are slated for development in eight districts of Tashkent, alongside the establishment of a dedicated industrial zone called "Yangi Avlod" in the capital, attracting investments totaling $1.5 bn.
Along with this, acting khokim (mayor) of Tashkent, Shavkat Umurzakov, outlined initiatives during an interview with Uzbekistan 24 TV channel on February 27. Umurzakov highlighted the significance of addressing urban renewal and infrastructure modernization to meet evolving societal needs and enhance safety standards.
The focal point of the urban renewal effort lies in the residential sector, with plans to revamp approximately 500 hectares of land. Umurzakov emphasized the urgency of renovating aging infrastructure, particularly two-story buildings, which pose significant safety risks.
Umurzakov further elucidated on the establishment of Tashkent Invest Company, a state-owned entity with an authorized capital of UZS 1 trillion ($80 mn), to spearhead various public-private partnership (PPP) projects. The company's mandate extends to diverse urban development endeavors, including cultural and recreational parks, pedestrian streets, waterfront areas, and roadside amenities. Additionally, Tashkent Invest Company will oversee the utilization of municipally-owned facilities, setting market-based rental rates and fostering the development of small industrial zones.
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