The III International Investment Forum took place in Tashkent with the participation of representatives of Ukraine

In Uzbekistan, the III International Investment Forum (TIIF) has successfully concluded. The event brought together more than 2.5 thousand participants from 93 countries, providing a platform for global dialogue and the exchange of best practices in the investment sphere.

One of the key events of the forum was the presentation of regional energy projects (construction of the Kambarata-1 hydropower plant and the Yavan hydropower plant) to foreign investors. The presentation took place with the participation of the prime ministers of the Republic of Uzbekistan and the Kyrgyz Republic, which underscored the importance of these projects for the entire region.

The forum attracted the attention of the international media, with more than 110 foreign outlets from 30 countries covering it, including leading global media such as “CNN”, “Euronews”, “London Post” and “Associated Press”.

As a result of the TIIF, agreements totaling $26.6 billion were signed, which testifies to Uzbekistan's high investment attractiveness and the success of the forum. For comparison, in 2022 the TIIF saw 167 documents signed worth $11 billion, which demonstrates a significant growth in investment interest in the country.

In particular, agreements were reached on the implementation of the following major investment projects:

– The company “Data Volt” from Saudi Arabia will build urban infrastructure in “New Tashkent” worth $1 billion, and will also create a “data processing center” based on green technologies worth $3 billion.

– The company “Acwa Power” from Saudi Arabia will implement projects to build a 5 GW wind power plant in the Republic of Karakalpakstan and to create 2 GW electricity storage facilities, with a total value of $6.2 billion.

– The company “Amea Power” from the UAE will carry out a project to build a 1000 MW wind power plant in the Republic of Karakalpakstan worth $1.1 billion.

– The company “Saudi Tabrid” will begin modernizing the heat supply system in Nukus, Fergana and Kuvasay worth $750 million.

– The company “Nil Shugar” from Egypt will grow sugar beets and produce sugar in the Jizzakh region worth $500 million.

– The Chinese company “Shanghai Knud International” will implement a project to produce textile and garment products in the Namangan region worth $205 million.

– The company “Wilmar International” (Singapore) will produce food products and confectionery in the Tashkent region worth $200 million.

In addition, the forum reached agreements with a number of the world's largest companies, such as “Orascom Investment” (Egypt), “Bonafarm Grup” (Hungary), “Sayar” (USA), “Goldwind”, “Sinoma” (China), “Sam Yapi” (Turkey), “Pasha Development” (Azerbaijan), “Lasselsberger” (Austria) and “Petrosat Chexelsoton” (Iran) on the implementation of new investment projects worth $6.6 billion.

The event included a packed program of panel sessions, discussions, business breakfasts and round tables, at which the most important aspects of economic development were discussed. The central theme was the role of the state, investors and entrepreneurs in supporting small and medium-sized businesses.

At the session devoted to combating corruption, experts stressed that an effective fight against corruption and crime in the economy is a key factor in improving the investment climate. They noted that creating a safe and transparent business environment plays an important role in this process.

“Successful anti-corruption efforts require a comprehensive approach that includes strengthening legislation and increasing the transparency of the state's actions,” said the director of the Anti-corruption Agency of the Republic of Uzbekistan, Akmal Burkhanov.

At the session devoted to retail, the main problems and opportunities of the industry were outlined. Participants expressed the view that tax legislation needs to be improved and import procedures simplified. They also noted that it is important to create conditions for the successful adaptation of new brands to the market.

“Thanks to the resolution on reducing customs fees, we were able to set fair prices, as in Britain and Kazakhstan,” shared the sales and marketing director of “Tashkent City Mall”, Illia Liapustin.

At the business breakfast devoted to women's entrepreneurship, the significant influence of women entrepreneurs on society was emphasized. The speakers presented inspiring examples and strategies for achieving a balance between profitability and social responsibility.
The main focus was on attracting foreign investment through residence permit programs.

“Over the past few years, Uzbekistan has established itself as an attractive destination for global investors thanks to its openness to cooperation and its prospects in the real estate sector,” said the representative of the company Henley&Partners, Akram Mukhamatkulov.

At the round table “Supply chains and resilience: finding a balance in conditions of uncertainty”, participants discussed the problems of and strategies for ensuring the resilience of global supply chains.

“Turkey and Uzbekistan have a strategic partnership, and we can substantially strengthen cooperation by working together,” noted Turkey's deputy trade minister Sezai Uçarmak.

The experts also stressed the importance of integrating digital technologies into investment strategies. They emphasized that digitalization is not the future but already the present, and that it plays a key role in accelerating investment processes and increasing transparency.

At the pitch session “IT-PARK Uzbekistan: new development prospects”, plans were presented to turn Uzbekistan into a regional information technology hub by 2030.

Uzbekistan's minister of digital technologies Sherzod Shermatov spoke about the significance of the recent investments. “Yesterday we witnessed an important event – the start of construction of the green Data Volt data center worth $5 billion, which is a major foreign direct investment project. We are creating a favorable environment for IT companies and launching the ‘Zero Risk’ program to cover all risks associated with opening and running offices in Uzbekistan,” he noted.

At the round table “Connections: the revival of the Great Silk Road”, international experts and representatives of government bodies explored opportunities for expanding ties, economic cooperation and cultural exchange along the ancient routes of the Silk Road.

At the round table “Integrated urban planning: quality investments, comfort for the environment and people”, leading urbanists, architects and business representatives discussed approaches to the development of the city of Tashkent. In particular, the managing director and senior partner of BCG, Vladyslav Butenko, stressed the importance of integrating innovative solutions into urban planning to achieve sustainable urban development. He emphasized that comprehensive planning must take into account both economic and social aspects, ensuring a balance between them.

The forum played an important role in attracting investment for various ministries and regions of Uzbekistan. The signed agreements testify to the development of key sectors such as industry, energy, pharmaceuticals and the automotive industry.

One of the forum's main achievements was the agreement between the ministry of digital technologies, the ministry of energy and the IT company Data Volt on building a data center based on “green” technologies. Experts stressed the importance of such projects for Uzbekistan. The signing ceremony was attended by the minister of investments, industry and trade, Laziz Kudratov, and the director of Data Volt, Rajit Nanda.

The III International Investment Forum in Tashkent has concluded, but the planned initiatives and signed agreements promise active work on attracting investment and ensuring sustainable development. Uzbekistan has once again confirmed its role as a strategic partner on the international stage, drawing the attention of global investors and contributing to the economic growth of the region.

The forum was also attended by representatives of Ukraine, in particular from the pharmaceutical business and the agro-industrial complex.