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

On April 23 of this year, Laziz Kudratov, the Minister of Investments, Industry and Trade of the Republic of Uzbekistan, participated in an international business forum held in Jizzakh. The event was organized as part of President Shavkat Mirziyoyev’s initiative to actively promote regional investment opportunities.

The forum brought together senior representatives from ministries, government agencies, industry associations, and local authorities, along with more than 350 top executives from major foreign companies representing over 30 countries.

In his keynote address, Minister Kudratov highlighted the profound economic reforms implemented in Uzbekistan over the past eight years. These include currency liberalization, tax and customs system reforms, the elimination of monopolies, a reduced state presence in key industries, and expanded opportunities for private enterprise.

These measures have yielded tangible results. In 2024, Uzbekistan attracted $35 billion in foreign direct investment—ten times the figure recorded in 2017. The country’s GDP growth has consistently exceeded 6% per annum. Uzbek exporters are actively entering global markets, aided by mechanisms such as the GSP+ trade preference system, which provides duty-free access for more than 6,200 product types to the European market. By 2030, Uzbekistan aims to attain upper-middle-income status, double its export volume to $45 billion, and grow its GDP to $200 billion.

Minister Kudratov also underscored the significance of harnessing regional potential for national development. He pointed to several competitive advantages that make regions like Jizzakh attractive to investors: a strategic geographical location, abundant land resources, rapidly expanding infrastructure, and a skilled labor force.

Key industries such as construction materials, textiles, agriculture, and tourism are experiencing dynamic growth in Jizzakh, further enhancing its appeal as a destination for long-term investment.

“Today’s forum is not merely a ceremonial gathering. It is a platform for action,” Mr. Kudratov emphasized. “I urge each of you to make full use of today’s opportunities. Most importantly, let this be the start of a genuine and enduring partnership.”