President Of Uzbekistan Announces Sweeping Reforms To Draw Int'l Investors

(MENAFN- Trend News Agency) Tashkent, Uzbekistan, June 10. President of Uzbekistan Shavkat Mirziyoyev outlined key national development priorities and investment initiatives at the 4th Tashkent International Investment Forum, Trend reports, citing the Uzbek president's office.

Highlighting Uzbekistan's strategic economic goals, President Mirziyoyev reaffirmed the country's ambition to join the World Trade Organization (WTO) by next year.

“We are actively working with our international partners, and have already harmonized dozens of laws and hundreds of standards with global requirements. This process will be fully completed this year,” he stated.

President Mirziyoyev emphasized that to foster a more attractive environment for foreign investors, Uzbekistan will introduce a national treatment regime, ensuring equal conditions for foreign and local companies. A one-stop shop principle will be implemented for dealings with government agencies, and a system to protect investors from excessive inspections will be created. These measures aim to raise the country's credit rating to investment grade by 2030.

'' As part of its privatization strategy, Uzbekistan is transforming state-owned enterprises into valuable national assets. The recently established National Investment Fund, which consolidates government stakes in 18 major companies and banks worth nearly $2 billion, will be managed by the globally recognized investment firm Franklin Templeton. The Fund is set to launch its international IPO next year. In addition, 29 large state-owned enterprises are planned to be privatized over the next two years with the help of professional consultants.

Transport and logistics were identified as another critical economic pillar. Uzbekistan is actively attracting private investment into this sector. International airports in Samarkand, Namangan, Bukhara, and Urgench have already been handed over to strategic investors through public-private partnerships. Incheon, a world-leading airport management company, has taken over operations at Urgench Airport. Tenders for Nukus, Termez, Fergana, and Navoi airports are scheduled for next year,'' the head of state added.

He further explained that the capital, Tashkent, has surpassed 5 million residents. In response, the government plans to construct“New Tashkent”, a modern urban center designed to accommodate 2 million people. It will include a multimodal hub integrating rail, road, and air transport, with the capacity to serve up to 20 million passengers annually. Large-scale shopping and financial centers are also planned. President Mirziyoyev invited international investors, financial institutions, and foreign banks to participate in this transformative project.

Regional cooperation was also emphasized. Trade with neighboring countries has grown 3.5 times over the past eight years, reaching nearly $13 billion. Major regional projects are underway, including the launch of the China-Kyrgyzstan-Uzbekistan railway and other large-scale energy and infrastructure initiatives.

President Mirziyoyev concluded with a call to action for international organizations, proposing the development of a Concept of an Integrated Region for Investment and Trade in Central Asia.

“It is time to establish new financial instruments to support regional projects. By working together, we can transform Central Asia into a region of peace and prosperity,” he concluded.

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