Central Asia is continuing to draw greater attention from both the EU and the U.S. due to its rising strategic importance. This growing interest was reflected in a panel discussion held during the Tashkent International Investment Forum 2025, titled “EU–Central Asia Partnership: The Road from the Samarkand Summit.”
Moderated by Oybek Shaikhov, Secretary General of EUROUZ, the session brought together key stakeholders to assess how strategic commitments made at the inaugural EU–Central Asia Summit in Samarkand in April 2025 are being translated into long-term investment projects—particularly in Uzbekistan.
Turning Strategy into Action
Steffen Richter, Business President of REE Linde, noted that Uzbekistan has made notable progress in improving its investment climate, making it a more attractive destination for foreign direct investment.
“Uzbekistan is undergoing large-scale reforms and transformation, offering numerous opportunities for international investors,” he said.
Richter highlighted Uzbekistan’s remarkable transformation in recent years, particularly in terms of government reforms, improved infrastructure, digitalization, and a more favorable climate for foreign direct investment.
Linde, which has operated in Central Asia for 13 years, views Uzbekistan as increasingly attractive due to its efforts to modernize industry and diversify its economy.
Linde’s technologies—such as advanced gas applications—can help Uzbekistan’s industries, including chemicals, metallurgy, and oil and gas, enhance productivity while reducing carbon emissions.
Richter also pointed to emerging opportunities in hydrogen and its derivatives, which can help Uzbekistan position itself competitively in the global energy market with a focus on sustainability.
David Monguzzi Senior Credit Officer at the European Investment Bank (EIB) confirmed that the EIB, the financial arm of the European Union, is set to open a regional office in Uzbekistan in 2025, following a recent agreement with the Uzbek government. This move reflects the EIB’s growing strategic interest in Central Asia and its intent to scale up investments across the region.
“We would like to capitalize on the positive experience we had in Uzbekistan… the agreement with the government will enable us to open an office sooner than later,” Monguzzi stated.
The EIB has been active in the region for over a decade, but Monguzzi noted that a “major step up” is now taking place. He emphasized the EIB’s expertise in financing large, cross-border infrastructure projects, which individual countries often cannot fund alone. The focus will be on sustainable development, particularly in energy, water, and climate-resilient infrastructure.
“What we would like to do at the European Investment Bank is to develop infrastructure that can endure time and ensure the region has a sustainable water management program,” he said.
The EIB aims to replicate its success in Europe by supporting regional integration in Central Asia—especially through sustainable transport and energy corridors that cross national borders. This includes promoting renewable energy, improving energy security, and responding to the growing challenges of climate change.
Connectivity as the Core of Integration
Pierre-Paul Antoniessen, CEO of EDF Central Asia, touched upon the importance of integrated energy networks as a benchmark for regional cooperation.
Citing a hydroelectric power project in Tajikistan that supplies electricity entirely to Uzbekistan, he described how European experience in creating a unified electricity market could serve as a model.
“Connectivity means that all energy networks in Europe are fully integrated. Not a day—nor even an hour—passes without the purchase, sale, or transfer of electricity between European countries. This can serve as a benchmark for Central Asian countries,” Antoniessen explained.
A joint venture has already been established in Dushanbe to manage the cross-border project.
Investing in People, Not Just Projects
On the other hand, Paul Burdion, CEO of Suez for Europe and Central Asia, highlighted the company's pioneering role in Uzbekistan's water sector reform, noting Suez was among the first European companies to enter the market in 2018. He emphasized that prior to this, Uzbekistan had suffered from decades of underinvestment in water and wastewater infrastructure—resulting in severe inefficiencies and losses.
“We can certainly say there was major underinvestment for 30 or 40 years and the infrastructure is very old,” said Burdion.
He pointed out that the country’s water systems are highly inefficient—both in terms of water loss and energy use. In response, Suez has implemented Uzbekistan’s first co-management contract in Tashkent, introducing digital technologies to detect leaks, anticipate failures, and guide network renewal. These efforts are helping conserve water for hundreds of thousands of residents, which is especially crucial given the country’s rapid demographic growth and vulnerability to climate change.
“Saving water is fundamental,” Burdion stressed. “But we're also working on optimizing energy consumption... with lots of digital solutions implemented with local authorities.”
Beyond infrastructure, Burdion highlighted capacity building as a cornerstone of Suez’s strategy, through training and transferring international expertise to local teams to elevate water management practices to global standards.
Burdion also stressed Suez’s global PPP experience, citing projects across Asia, Europe, and the Americas, and noted the company’s long tradition of PPPs dating back to its involvement in the Suez Canal over 160 years ago.
He detailed the key elements for PPP success in Central Asia, particularly in Uzbekistan:
- Balancing Operational, Social, and Financial Needs
He emphasized the importance of affordable water tariffs to ensure universal access. - Fair Sharing of Risks and Responsibilities
“If that balance does not exist,” he warned, “there will be a problem at a certain time.” - Reducing Bureaucracy
Burdion called for streamlined processes, especially in procurement, to accelerate project delivery. - Tailored Solutions
He noted that “there’s no one-size-fits-all” in water projects—even within sub-sectors like wastewater reuse and desalination. - Trust-Based Partnerships
“The most important thing of all is... creating trust and working in a context of complete trust,” said Burdion.
Burdion concluded by expressing gratitude to the Uzbek authorities for their continued trust, hinting at future projects beyond Tashkent and reaffirming Suez’s commitment to long-term collaboration.
A Strategic Shift in Regional Cooperation
EU Ambassador to Uzbekistan Toivo Klaar called the current phase a “qualitative shift” in relations.
“This has been made possible by internal transformations within the region itself, which are making it increasingly attractive to international partners. In turn, this is drawing greater attention from the EU and the United States to a region of strategic significance,” Toivo Klaar voiced.
With the European Investment Bank expanding its regional presence and companies like EDF and Suez deepening ties, the EU–Central Asia partnership is entering a more action-oriented phase.
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