Ministry of Investment, Industry and Trade of the Republic of Uzbekistan

Today Uzbekistan is one of the fastest-growing economies not only in the region but globally, and the development of digital services plays a significant role in this growth. E-commerce already accounts for around 5% of the country’s retail trade, and by 2027 this figure could increase to 9–11%. According to KPMG forecasts, the market volume is expected to reach $2.2 billion, driven by growing internet penetration, expanding logistics infrastructure and the rapid adoption of digital financial services.

These very sectors — e-commerce, fintech and banking services — are brought together within Uzum, the national digital ecosystem and partner of the 5th Tashkent International Investment Forum (TIIF).

Over the past few years Uzum has become one of the country’s largest technology projects. Today more than 20 million people use Uzum services every month. The ecosystem includes a marketplace, express delivery service, banking and fintech products, as well as its own logistics infrastructure. The ecosystem became the country’s first-ever IT unicorn, with Uzum currently valued at approximately $2.3 billion. Uzum’s investors include Tencent — for whom this was the first investment in Central Asia — as well as VR Capital, the sovereign fund of Oman and FinSight Ventures. In total more than $300 million in international investment has been attracted to support the ecosystem’s development, making it one of the largest examples of global investor confidence in Uzbekistan’s digital potential.

Uzum’s participation in the forum reflects the broader agenda of developing a modern economy, attracting international investment, and creating new growth drivers.

“It is a great honor for us to become a partner of the Tashkent International Investment Forum and represent Uzbekistan’s investment potential. We see tremendous interest from international partners in the country, its economy, and its technology sector and we are delighted to welcome investors and business representatives from around the world to Tashkent,” said Djasur Djumaev, Founder and CEO of Uzum.

The forum will traditionally bring together representatives of international financial institutions, major companies, investment funds, and government organizations from around the world.