Uzbekistan–U.S. Business Forum in Tashkent: A New Stage of Strategic Economic Partnership

As part of the Tashkent International Investment Forum, the Uzbekistan–U.S. Business Forum was held. It marked a significant milestone in the history of bilateral economic cooperation between Uzbekistan and the United States of America. The event was organized by the Ministry of Investments, Industry and Trade of the Republic of Uzbekistan together with the American-Uzbekistan Chamber of Commerce (AUCC).

In 2024, trade turnover between Uzbekistan and the U.S. increased by 15 percent, reaching 881.7 million U.S. dollars. Direct investments from the U.S. amounted to 612.6 million dollars. There are currently 314 enterprises operating in Uzbekistan with American capital, including 167 fully U.S.-owned companies.

More than 150 representatives from the business and government sectors of both countries participated in the event, including around 100 leading U.S. companies from sectors such as manufacturing, digital technology, agriculture, energy, finance and healthcare. Among the participants were executives from Boeing, Visa, Coca-Cola, Medtronic, John Deere, CNH, Morgan Stanley, NASDAQ, Abbott, as well as representatives from investment funds, universities, legal, engineering and tech firms.

From the Uzbek side, the forum was attended by Deputy Prime Minister Jamshid Khodjaev, Minister of Investments, Industry and Trade Laziz Kudratov, First Deputy Chairman of the Senate Sodik Safoev, along with heads of key ministries and agencies.

During his remarks at the forum, First Deputy Prime Minister Jamshid Khodjaev highlighted:

“Why Uzbekistan? First of all, investor rights are protected by law. The process of registering new business entities is greatly simplified, and land plots are allocated via online auctions.”

“In recent years, Uzbekistan’s economy has nearly doubled. Last year, GDP growth reached 6.5 percent, and foreign direct investment exceeded 6 billion dollars.”

“As part of the Uzbekistan 2030 Strategy, we aim to raise GDP to 200 billion dollars, total investment to 100 billion, and exports to 45 billion.”

“Industrial production is growing by an average of 8 percent annually. With a Central Asian population of 83 million, Uzbekistan has access to markets totaling 300 million people.”

“Sixty percent of the population is under 30. In recent years, 62 new universities have been established, including 23 international branches. Higher education enrollment has risen from 9 to 42 percent.”

“Uzbekistan ranks second in the world in gold reserves and is rich in copper, tungsten, silver and uranium. A government-level memorandum on strategic resources has been signed with the United States.”

“The country hosts 39 free economic zones, where enterprises are exempt from several taxes for up to 10 years. Regions are equipped with the required engineering and communications infrastructure.”

“Uzbekistan has strong transport and logistics potential, serving as a regional hub at the crossroads of East-West and North-South routes.”

The forum program featured a presentation of Uzbekistan’s investment potential, as well as bilateral government-to-business meetings. Discussions focused on expanding trade and economic ties, implementing joint projects, and strengthening institutional cooperation.

Carolyn Lamm, Chair of the American-Uzbekistan Chamber of Commerce (AUCC), also delivered a speech in the forum, emphasizing:

“In recent years, Uzbekistan has undergone major reforms, transitioning from a centralized economy to a market-based system. New laws were introduced to protect investments, including legal guarantees for foreign investors. The 2017 Action Strategy, the 2022 New Uzbekistan Strategy, and the current Uzbekistan 2030 Strategy are vivid examples of this progress.”

We congratulate President Shavkat Mirziyoyev and his team for creating a favorable and reliable investment environment through reforms. Anti-corruption laws were passed, officials were trained, and a modern political and economic system was developed in line with international standards. In 2024, Uzbekistan’s GDP grew by 6.5 percent. Privatization has accelerated, and both banks and major state enterprises have begun to operate based on market principles. Reduced state involvement has increased economic activity.”

Today, Uzbekistan offers wide-ranging opportunities for U.S. investors. Many American companies bring advanced technologies, safe products and global brands to Uzbekistan, reinforcing sustainable and mutually beneficial economic ties.”

The U.S. Department of State has also recognized Uzbekistan’s openness to foreign investment. By 2030, Uzbekistan aims to join the group of upper-middle-income countries, and AUCC fully supports this ambition.”

Success stories of American companies such as FLSmidth, New Holland Agriculture, Visa, IDCA, John Deere and Coca-Cola were highlighted during the forum.

The forum confirmed the strong interest on both sides in expanding cooperation across several priority sectors:

Green energy
Food industry and agriculture
Healthcare and pharmaceuticals
IT and digital infrastructure
Financial technologies
Industrial production and mechanical engineering

The 2025 Uzbekistan–U.S. Business Forum was a significant step toward strengthening the strategic partnership between the two countries, reaffirming Uzbekistan’s role as a reliable economic and investment partner of the United States in Central Asia.