The second day of the Tashkent International Investment Forum (TIIF) reaffirmed Uzbekistan’s status as a key investment destination in Central Asia, with the signing of more than 30 investment agreements and memorandums. 

These deals involved a diverse group of foreign companies, including ACWA Power, Bell Engineering Software Technologists, HYPER Partners, Shaanxi Road and Bridge Group, TK-CH GROUP, and Uz Oman Capital, covering sectors such as energy, infrastructure, housing, and environmental sustainability.

A key highlight of the day was the signing of a Memorandum of Understanding between the Fund for Reconstruction and Development of the Republic of Uzbekistan and Uz Oman Capital to establish a Central Asia Direct Investment Fund. This fund aims to channel substantial foreign capital into strategic projects across Uzbekistan and neighboring countries, boosting regional economic cooperation.

The energy sector was a major focus. The Ministry of Energy signed an implementation agreement with Saudi Arabia’s ACWA Power for the construction of solar power plants and energy storage systems. German firm HYPER Partners also entered into two significant agreements. 

The first involves the development of a 1,400 MW thermal power plant in the Tashkent region. The second is an investment and power purchase agreement with the Ministry of Investment, Industry and Trade and Uzenergosotish for the construction of a 500 MW solar photovoltaic plant in Fergana’s Beshariq district and a 200 MW plant in Namangan’s Pop district.

In Karakalpakstan, the regional government signed a wide-ranging cooperation agreement with UAE-based Bell Engineering Software Technologists. The agreement covers underground cavern storage, educational programs for youth, the construction of facilities to process medical, hazardous, and agro-industrial waste, bamboo cultivation, and the development of the Kairaktash gold deposit.

Infrastructure development also featured prominently. The Ministry of Transport signed an agreement with China’s Shaanxi Road and Bridge Group to prepare project documentation for a new toll road connecting Surkhandarya and Kashkadarya regions. The project will be implemented through a public-private partnership (PPP) model and run from Bogcha in Sariosiyo district to Kamar in Shakhrisabz district.

Further renewable energy initiatives included an implementation agreement between the Ministry of Energy and China General Nuclear for the construction of a concentrated solar power (CSP) plant. Meanwhile, Energy China committed to building a 400-kilometer power transmission line and a new substation linking the Navoi Thermal Power Plant to the Yoshlik substation.

Urban development in Namangan region received a boost through a cooperation agreement between the regional administration and China’s TK-CH GROUP for the construction of modern multi-story residential and office buildings in the Yangi Namangan area. Additionally, the Kashkadarya regional administration signed a memorandum of understanding with Nexus Green Synergy SDN. BHD. from Malaysia to develop a small hydropower project, further enhancing the region’s green energy potential.

Environmental sustainability was also addressed through an agreement between the Ministry of Ecology, Environmental Protection and Climate Change and Vision Invest (Saudi Arabia) for the generation of electricity via the processing of hazardous waste.

Beyond these major deals, several other agreements were concluded in industries such as pharmaceuticals and agriculture. These investments are expected to create new jobs, introduce advanced technologies, and support Uzbekistan’s broader economic transformation.

Local and international partners expressed strong confidence in Uzbekistan’s investment climate. Experts at the forum emphasized that these partnerships not only contribute to immediate economic development but also open doors to long-term cooperation and integration into global markets. 

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