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

On June 11, 2025, during the Tashkent International Investment Forum, a special panel session titled “Attracting Sustainable Investment: from Reform to Success” was held. The event showcased Uzbekistan's reforms aimed at attracting sustainable investments, as well as the measures being implemented in the fields of green economy and digital transition. This session, conducted under a project in collaboration with the OECD, ADB, and the European Union, highlighted the results of efforts to evaluate and improve Uzbekistan's investment policies.

William Tompson, Head of the OECD Eurasia Division, moderated the session, during which Uzbekistan's achievements since 2017 in economic liberalization, private sector development, and attracting sustainable investments were discussed. Panelists exchanged views on the reforms necessary to achieve high-middle-income country status by 2030, as well as the challenges along the way.

Participants of the session:

• Toivo Klaar, Ambassador of the European Union to the Republic of Uzbekistan
• Kanokpan Lao-Araya, Country Director, ADB
• Fares Al-Hussami, Head of FDI Qualities and Impact, Investment Division, OECD
• Aziz Gafurov, Head of the Secretariat. Foreign Investors Council under the President of the Republic of Uzbekistan
• Abdulla Khashimov, Advisor to the Minister of Investment, Industry and Trade of the Republic of Uzbekistan

The panel discussed reforms in attracting sustainable investments, green energy, and digital transition, alongside the policy tools needed to improve the investment climate. The session reaffirmed Uzbekistan's commitment to sustainable development and economic growth, as well as its readiness to remain open and trustworthy for international investors.

Kanokpan Lao-Araya, Country Director of ADB, highlighted the importance of regional cooperation, revealing:
“We have invested almost 14 billion USD in the country, and that is just our general investment, including technical assistance. Our activity will focus on investment and trade facilitation, aiming to integrate Uzbekistan into the regional and global value chains, particularly as the country targets WTO access next year.”

Aziz Gafurov, Head of the Secretariat of the Foreign Investors Council, shared progress on investor initiatives:
“During a short period of time, we have collected more than 40 initiatives, and there have already been tangible results. The Foreign Investors Council serves as a bridge between business and government, ensuring the effective implementation of these initiatives.”

Fares Al-Hussami, Head of FDI Qualities and Impact at the OECD, underscored the role of legal reforms:
“Beyond trade, ADB is closely involved in supporting Uzbekistan in investment climate reforms. For instance, ADB is currently reviewing the exclusive export rights held by state-owned enterprises in line with the WTO, aiming to create a level playing field for all investors.”

Abdulla Khashimov, Advisor to the Minister of Investment, Industry and Trade, emphasized Uzbekistan’s young population and its potential for economic growth:
“Uzbekistan is one of the youngest countries in the world, with an average population age of 28 years. Every year, around 2 million young people enter the labor market. Investing in this demographic dividend is crucial; otherwise, it could become a negative factor instead of a positive one.”

The session highlighted how Uzbekistan's strategic reforms, particularly in trade, green energy, and digital transition, are laying the groundwork for sustainable economic growth. The country is actively working on improving legal frameworks, attracting foreign investment, and enhancing regional cooperation. Panelists reaffirmed that Uzbekistan is on track to achieve its 2030 goals, making it a trustworthy and promising destination for international investors.