The second day of the 3rd Tashkent International Investment Forum witnessed a compelling showcase of Uzbekistan's regional investment opportunities. Stakeholders from across the country converged to present a compelling narrative to attract foreign investors, shedding light on the nation's burgeoning investment landscape.
Headed by Andrzej Schafernaker, Senior Advisor at Saviday, the event boasted an esteemed lineup of speakers, including:
- Azamat Oteuliev, Minister of Investment and Foreign Trade of the Republic of Karakalpakstan
- Olimkhon Rustamov, Deputy Mayor of Kashkadarya region
- Oybek Khamraev, Deputy Mayor of Samarkand region
- Sherali Zhuraev, Deputy Mayor of Surkhandarya region
- Najmiddinhuja Sharipov, Deputy Mayor of Tashkent region
- Alisher Dushanov, representative of the Khakimiyat of Khorezm region
- Bekmurod Akbarov, Deputy Head of the department of investment and foreign trade in Syrdarya region
Uzbekistan's remarkable economic trajectory over the past six years has seen it attract over $60 bn in foreign investment. Its strategic geographical location, abundant natural resources, and a domestic market boasting 37 mn people underscore its vast investment potential.
Discussions at the forum centered on state measures to bolster investment project implementation and factors shaping a conducive investment climate. The government's unwavering commitment to augmenting foreign direct investment inflows and fostering favorable business conditions nationwide resonated throughout the session.
Representatives from six regions—Kashkadarya, Samarkand, Tashkent, Syrdarya, Khorezm regions, and the Republic of Karakalpakstan—elucidated on the unique investment prospects within their territories. Olimkhon Rustamov, Deputy Mayor of Kashkadarya region, extolled the region's favorable attributes, citing robust transportation infrastructure and a burgeoning urbanization rate.
"In 2023 alone, Kashkadarya secured $704 mn in foreign investment, with plans to scale up to $1 bn in 2024," Rustamov revealed, with China emerging as the principal investor, contributing $330.3 mn.
Deputy Mayor of Samarkand region, Oybek Khamraev, highlighted Samarkand's rich historical legacy and economic dynamism, outpacing the national GDP growth rate.
"The population of Samarkand exceeds 4.2 mn people, and the region is ahead of the capital, Tashkent, on this indicator. The gross domestic product of the region, rich in mineral resources, has been growing in recent years at such a good pace as Uzbekistan as a whole," he said.
Azamat Oteuliev, representing the Republic of Karakalpakstan, underscored the region's status as a free economic zone, offering tax incentives and state-funded infrastructure, making it an enticing investment destination.
"The Republic of Karakalpakstan is a completely free economic zone. This means that any project implemented in this area will have tax benefits. Also, full infrastructure for investors will be provided here at the expense of the state budget. Not only for foreign trade relations, but also Uzbekistan will be reimbursed up to 70% of transportation costs".
Concluding the event, speakers emphasized Uzbekistan's burgeoning economy, positioning it as a pivotal nexus bridging the East and West.
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