Ministry of Economy and Finance of the Republic of Uzbekistan

It is noteworthy that to date, 2 800 PPP projects worth 34 billion US dollars are being implemented at various stages. The key factor behind achieving such results is, undoubtedly, the systemic reforms carried out to advance the sector.

In order to strengthen the role of PPPs in public procurement and thereby attract greater foreign and domestic investment, the Third Public–Private Partnership Roundtable on “Mobilizing Private Capital through Public–Private Partnerships” was held on 18–19 November this year at the Hyatt Regency Hotel in Tashkent. The event was organized in cooperation with the Ministry of Economy and Finance of the Republic of Uzbekistan and the Asian Development Bank (ADB).

The forum was held to expand private-sector participation, develop new financing solutions, and strengthen international cooperation in support of the economic growth objectives set out in Uzbekistan’s “Uzbekistan–2030” Strategy and the national program to implement 30 billion US dollars’ worth of PPP projects by 2030. The event is expected to contribute to reinforcing trust-based cooperation between the public and private sectors and ensuring sustainable development in infrastructure and social spheres.

The roundtable is being held over two days. The event was opened by Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of the Republic of Uzbekistan, and Takeo Koike, Head of Office of Markets Development and PPP at the Asian Development Bank. The opening ceremony also featured:

• Ms. Linda Rudo Munyengeterwa (Global Director, PPP & Corporate Finance Advisory Services, IFC);
• Mr. Huseyin Ozhan (Managing Director, Central Asia and Mongolia, EBRD);
• Mr. Omar N. Al-Midani (President and Chief Executive Officer, Vision Invest);
• Mr. Cemil Kazancı (Chairman and CEO, Aksa Energy);

Mr. Silvere Delaunay (Senior VP, CEO for Central Asia and Caucasus of SUEZ Group) delivered remarks on the role and prospects of the PPP sector in ensuring the country’s economic stability.

At the beginning of the roundtable, Professor Michael Bennon of Stanford University — one of the world’s leading academic institutions — announced that Uzbekistan’s experience in actively applying the PPP model in key sectors such as energy, education and healthcare is being incorporated into Stanford University’s curriculum. This decision reflects the high recognition that Uzbekistan’s recent reform path, practical experience and systematic approach in the PPP sphere have gained within the international academic community, and it was noted that the country’s model now has broad potential to be studied globally and used as a scientific-methodological reference.

In addition, Mr. SangYong Lee, Vice President & CBDO, Incheon International Airport Corporation, delivered a presentation on the strategic role of modern airports in the global transport system, their direct impact on regional competitiveness, trade expansion, investment inflows and tourism growth, as well as their importance as a key driver of economic development.

In line with the tasks set to accelerate digitalization in the PPP sector, the Ministry of Economy and Finance announced the launch of a unified electronic platform for managing public–private partnership projects — “ppp.imv.uz”.

It was noted that the platform’s main objectives are to improve project quality and investor appeal, ensure their financial and institutional sustainability, expand the use of artificial intelligence in the sector, and establish an efficient and cost-effective management process from initiation to implementation. The platform will become fully operational from 1 January 2026.

A number of important memorandums and agreements were signed within the framework of the forum. In particular:

I. Memorandum of Understanding between The Ministry of Economy and Finance and Asian Development Bank to support PPP Project Development;

II. The Joint development agreement to be signed by The Misnistry of Health and “Al Arkkan” company to imlement “Integrated national system for food safety and public health in Tashkent & Fergana cities”;

III. The Memorandum of Understanding to be signed by The Ministry of Health and “K-dot” company “Upgrading nursing qualifications and supporting for international placement”;

IV. The Heads of Terms to be signed by “Saudi Tabreed-Saudia Arabia” and “Issiqlik Ta’minoti” JSC to modernize and operate “Nukus district heating system” in Karakalpakstan;

V. The Letter of Award to be presented to AKSA company (Turkiye) on the project of “Modernization and operation of Samarkand electricity distribution networks”;

VI. Related agreements of “Partial Credit Guarantee” for the following projects:

1. Construction of 200 MW Wind Power Plant and 100 MW Battery Energy Storage System in Karakalpakstan;

2. Construction of 500 MW Solar IPP and 334 MW Battery Energy Storage System in Samarkand (Sazagan Solar 1);

3. Construction of 500 MW Solar IPP and 334 MW Battery Energy Storage System in Samarkand (Sazagan Solar 2).

VII. Addendum to the Partenrship agreement between “Miahona” company and the Ministry of Water Resources on the modernization and operation of 135 pumping stations located in the Karakalpakstan;

VIII. Partenrship agreement between “Miahona” company and the Ministry of Water Resources on the modernisation and operation of 250 pumping stations in Khorezm;

IX. The Government support agreement to be signed by The Ministry of Economy and Finance and “Incheon International” company Korea.

The first panel discussion, titled “Achievements and Key Challenges”, highlighted the significant expansion of Uzbekistan’s PPP portfolio in terms of both scale and value. The session also addressed key issues related to the legal and regulatory framework, project preparation processes and market capacity. The discussion provided clarity on the main challenges faced in the implementation of PPP projects, possible solutions, as well as the achievements made and their effectiveness.

The second panel session focused on “Solutions to Key Challenges: Innovative Financing Solutions for PPP and Creating Diverse Finance Sources”.

This session examined practical solutions for introducing new financial instruments and modern approaches in the PPP sector. The discussion centered on implementing innovative financing mechanisms and mobilizing diverse sources of capital.

The discussions provided an in-depth analysis of blended financing models, risk-mitigation instruments, as well as strategies to strengthen private-sector confidence and expand its active participation in PPP projects across various sectors. As a result, the session helped to define clear, practical directions for developing the PPP system in a financially diversified and attractive manner for the private sector.

On the same day, Takeo Koike, Head of Office of Markets Development and PPP at the ADB, presented the global “PPP Monitor” platform. The presentation highlighted Uzbekistan’s PPP system growth dynamics, the volume of projects across sectors, and key international comparison indicators.

The session featured opening remarks by Mirzo Iskandar Gulamov, ADB’s Country Operations Head for Uzbekistan. Representatives of Veolia, Metito, Voltalia and ACWA Power also shared their perspectives on the implementation of PPP projects. The discussion covered solutions for financing risks in PPP projects. The session concluded with a Q&A segment on the PPP Monitor.

At the end of the day, the third panel session titled “Advancing PPP Programs through the Perspective of Advisors” was held. The session highlighted the important contributions made by advisory firms in supporting the public and private sectors, accelerating the development of the PPP program, and ensuring the swift and efficient implementation of projects.

As the first day of the forum concluded, the practical outcomes of ongoing PPP reforms, international knowledge exchange and initiatives aimed at expanding investment cooperation were once again reaffirmed. The views and proposals voiced throughout the day will serve as an important basis for the next steps toward strengthening the institutional foundations of the PPP system, improving project quality and further encouraging private-sector participation.

Information Service

Ministry of Economy and Finance