The Uzbekistan–U.S. Business Forum, held as part of the Tashkent International Investment Forum, marked a new chapter in bilateral economic relations, stressing deepening strategic ties between Uzbekistan and the United States.
Co-organized by Uzbekistan’s Ministry of Investments, Industry and Trade and the American-Uzbekistan Chamber of Commerce (AUCC), the event drew more than 150 government and private sector leaders.
The forum comes amid an uptick in economic cooperation. In 2024, trade turnover between the two countries rose by 15%, reaching $881.7mn. U.S. direct investments totaled $612.6mn, with 314 American-backed enterprises now operating in Uzbekistan—167 of them fully U.S.-owned.
Senior officials from both nations attended the event, including Deputy Prime Minister Jamshid Khodjaev, Investment Minister Laziz Kudratov, and First Deputy Senate Chair Sodik Safoev. From the U.S. side, executives from companies such as Boeing, Coca-Cola, Visa, John Deere, Morgan Stanley, and NASDAQ participated, alongside representatives of universities, law firms, and investment funds.
In his remarks, First Deputy Prime Minister Khodjaev emphasized Uzbekistan’s rapid transformation and appeal to investors.
“Investor rights are protected by law. Registration processes are simplified, and land plots are allocated through online auctions,” he said.
Khodjaev noted that Uzbekistan's economy has nearly doubled in recent years, with 2024 GDP growth at 6.5% and foreign direct investment exceeding $6bn. The government’s 2030 strategy aims to boost GDP to $200bn, total investment to $100bn, and exports to $45bn.
He highlighted Uzbekistan’s young and educated population—60% under 30—with rising university enrollment and growing international academic partnerships. The country’s strategic mineral resources, logistics infrastructure, and 39 free economic zones further enhance its investment appeal.
“Uzbekistan has moved from a centralized economy to a market-based one. Legal protections for investors, anti-corruption measures, and economic liberalization have opened new opportunities,” Carolyn Lamm, Chair of the AUCC, praised Uzbekistan’s reform agenda.
Lamm acknowledged progress under the 2017 Action Strategy, 2022 New Uzbekistan Strategy, and the current Uzbekistan 2030 Strategy. She also noted that American companies are contributing technologies, global brands, and sustainable practices.
“Privatization has accelerated, and state-owned enterprises now follow market principles. This is creating space for innovation, competition, and strong bilateral investment ties.”
The U.S. Department of State has also recognized Uzbekistan’s openness to foreign capital and reforms supporting investor confidence.
The forum highlighted several priority sectors for future cooperation, including:
- Green energy
- Agriculture and food production
- Healthcare and pharmaceuticals
- IT and digital infrastructure
- Financial technologies
- Mechanical engineering and industrial production
Executives from firms like FLSmidth, Visa, New Holland Agriculture, IDCA, Coca-Cola, and John Deere shared their success stories, illustrating the growing role of American companies in Uzbekistan’s economic landscape.
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