On January 16, 2025, the Uzbek-Chinese Business Forum held in Tashkent marked a major step forward in strengthening economic ties between Uzbekistan and China. The scale of economic cooperation between the two nations was underscored by the presence of over 3,350 Chinese-owned businesses operating across Uzbekistan. With Chinese investment surpassing $10 bn and bilateral trade reaching $13.1 bn in 2024.
The event, organized in collaboration with the Embassy of the People’s Republic of China in Uzbekistan, drew over 400 business leaders, government officials, and entrepreneurs from both nations to discuss the growing trade and investment partnership.
Yu Jun, the Ambassador Extraordinary and Plenipotentiary of China to Uzbekistan, addressed the forum, highlighting the impressive growth of bilateral cooperation in recent years. “China is now Uzbekistan’s largest trade and investment partner,” said Ambassador Jun, emphasizing the dynamic expansion of economic exchanges between the two countries.
Bilateral Trade Growth
The statistics behind the flourishing partnership speak for themselves. By the end of 2024, the volume of Chinese investments in Uzbekistan had exceeded $10 bn, while the total trade turnover between the two countries reached a remarkable $13.1 bn. These numbers illustrate the increasingly significant role China plays in Uzbekistan’s economic development, positioning China as the largest source of foreign direct investment in the Central Asian nation.
This growth is reflected in the extensive presence of Chinese enterprises across Uzbekistan. According to recent reports, there are currently 3,357 enterprises in Uzbekistan involving Chinese capital. These companies are engaged in key sectors such as energy, infrastructure, food production, light industry, and geological exploration. Their contributions are integral to the ongoing development of Uzbekistan’s economy, with many of these projects being executed in various regions of the country.
Favorable Business Environment in Uzbekistan
The Uzbek government continues to promote a favorable environment for foreign businesses, particularly those from China. Participants at the forum were briefed on the investment and industrial potential of Uzbekistan, which has been consistently striving to create a business-friendly atmosphere. Policies focused on protecting entrepreneurs’ rights and offering comprehensive support for investment projects were emphasized throughout the event.
Uzbekistan’s commitment to supporting foreign investment was also underscored during the forum’s discussions. Government officials highlighted the steps the country is taking to facilitate the entry and operation of foreign businesses, ensuring that entrepreneurs are well-supported throughout the life cycle of their investment projects.
Investment and Tourism Opportunities
During the forum, presentations were held to showcase Uzbekistan’s investment opportunities and tourism potential, which continue to attract foreign interest. Both B2B and B2G meetings were organized, providing opportunities for business representatives from both countries to forge new partnerships, discuss upcoming projects, and finalize agreements. These direct interactions are crucial in strengthening the bilateral trade relationship and paving the way for future collaborations.
The forum concluded with an open dialogue session, where international participants were able to directly engage with Uzbek officials and get answers to their questions regarding the logistics of doing business in Uzbekistan. This transparent exchange of information helped clear up any uncertainties surrounding the operational framework for foreign investors, with a strong focus on creating trust and ensuring long-term partnerships.
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