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

"By 2025, Uzbekistan has already signed PPP projects worth around USD 28 billion," — Ilkhom Umurzakov, Deputy Minister of Economy and Finance of Uzbekistan.

On the final day of the Tashkent International Investment Forum (TIIF), organized under the coordination of the Ministry of Investment, Industry and Trade of the Republic of Uzbekistan, one of the key themes was the role of public-private partnerships (PPPs) in improving conditions for investment in Uzbekistan.

Ilkhom Umurzakov shared that as of January 1, 2025, Uzbekistan had signed PPP projects totaling approximately USD 28 billion, with about 90% of these in the energy sector, predominantly in renewable energy.

Anand Rohatgi, Chief Operating Officer of Synergy, noted that the company’s journey in Uzbekistan had been genuinely impressive. Synergy entered the country in 2017 and had the opportunity to participate in Uzbekistan’s first PPP project.

“Our office in Tashkent turned out to be a true success. It is one of our largest offices. To date, we have successfully closed 10 PPP projects and currently have a portfolio of around 30 new projects in the advisory stage,” Rohatgi added.

During the discussion, speakers emphasized that PPPs enable the implementation of impactful projects across various sectors, ensuring mutual benefits and sustainable economic growth. Strengthening the regulatory framework, providing incentives, and enhancing transparency were identified as key factors in making Uzbekistan even more attractive to foreign investors.

Philippe Da Costa, Chief Strategy Officer at TAQA Water Solutions, reminded the audience that TAQA has been present in Uzbekistan for around five to six years through its subsidiary Masdar, operating in the energy sector.

“We can confidently say that Uzbekistan is currently the most mature country in the region in terms of PPP mechanisms,” noted Da Costa.

Speakers stressed that the effective use of the PPP model is critically important for attracting investment, modernizing infrastructure, and ensuring the sustainable development of Uzbekistan’s economy.

The panel session also featured participation from Ekaterina Miroshnik, Director of the Infrastructure Department for Eurasia at the EBRD, and Nasser Massoud, Senior Advisor to the CEO of InterHealth Canada.

Moustafa Fahour, Chief Operating Officer of Plenary Group, spoke about the importance of investing in social infrastructure, stressing that building schools, hospitals, and student housing is an investment in the nation's future and well-being—not just an economic calculation.

Enrico Pinali, Regional Head of Private Sector Development at the Asian Development Bank (ADB), noted that ADB's participation in developing the PPP model in Uzbekistan began at the earliest stages. AS a result, it was possible to create standardized and transparent contract templates, with which local authorities can now work independently. According to Pinali, development banks are truly successful when they are no longer needed. This means that the market has been formed, knowledge has been transferred, and the development bank's mission has been fulfilled.