Third Tashkent International Investment Forum 2024: day 1 photoreport

The third Tashkent International Investment Forum (TIIF 2024) has commenced with an engaging plenary session on May 2. 

In 2023, investments in developing countries experienced a notable 9% decline. President Mirziyoyev's message emphasizes the imperative of global collaboration in addressing these challenges.

President Mirziyoyev also announced Uzbekistan's remarkable economic achievements. The nation's economy has doubled in recent years, boasting a 6% growth rate. Inflation stands at 9%, demonstrating stability, while trade turnover continues to rise. Notably, over $60 bn in foreign investments have been absorbed, with an additional $14 bn secured from international financial institutions for critical social and infrastructure projects.

Moreover, President Mirziyoyev unveiled significant reforms to enhance Uzbekistan's attractiveness to foreign investors. The term of land lease for foreign investors has been extended from 25 to 49 years, while existing benefits and preferences remain intact.

During the forum, Uzbekistan's prominent financial institution, Asakabank, agreed to undergo privatization in collaboration with the European Bank for Reconstruction and Development (EBRD).

The third Tashkent International Investment Forum, attended by over 2,500 guests from 93 countries, underscores Uzbekistan's commitment to fostering bilateral and multilateral cooperation. The forum, opened by President Mirziyoyev, brought together a notable group of global leaders, including Tatiana Molcean, Deputy Secretary General of the UN; Akylbek Zhaparov, Chairman of the Cabinet of Ministers of Kyrgyzstan; Cevdet Yılmaz, Vice President of Turkey; Abdulaziz bin Salman Al-Saud, Saudi Arabia's Minister of Energy; Xia Kian Peng, Speaker of the Parliament of Singapore; Odile Renaud-Basso, President of the European Reconstruction and Development Bank; and Abdulhamid Al-Khalifa, President of the OPEC International Development Fund. The session was skillfully moderated by CNN journalist Richard Quest.