- The Third Tashkent International Investment Forum: A Catalyst for Uzbekistan’s 2030 Vision
- A goal to push investments in Uzbekistan and region
- The forum plays a significant role in attracting Foreign Direct Investment (FDI) to Uzbekistan
- In 2023, Uzbekistan’s FDI totalled $19.5 billion, a 93% rise from 2022, with foreign trade turnover at an all-time high of $62.6 billion
TASHKENT, Uzbekistan -The Tashkent International Investment Forum (TIIF-2024), now in its third year, is scheduled to take place in Tashkent on May 2-3. The forum aims to enhance investment in Uzbekistan and the broader region.
According to the Uzbekistan Embassy in London, the inaugural edition of the forum in 2022 culminated in contracts and investment agreements totaling $7.8 billion, whereas the subsequent edition saw the signing of 164 documents valued at $11 billion.
The TIIF is a crucial event for Uzbekistan and the entire region. It typically includes a high-level plenary session with state leaders and over 50 expert discussions, such as panel sessions, round tables, and B2B negotiations.
Supported and inaugurated by President Shavkat Mirziyoyev, the forum plays a significant role in attracting Foreign Direct Investment (FDI) to Uzbekistan. It provides a portal for foreign investors to the growing opportunities of the “New Uzbekistan,” aligning with the ambitious “Uzbekistan 2030” strategy. This strategy seeks to raise Uzbekistan’s GDP to $160 billion and attract $250 billion in investments.
With the support of respected partners like the International Islamic Trade Finance Corporation (ITFC), the International Finance Corporation (IFC), the European Bank for Reconstruction and Development, ACWA Power, and Uzum, the forum will highlight attractive investment opportunities in various sectors such as energy, infrastructure, agriculture, tourism, mining, and the digital economy.
Since its establishment, the forum has significantly transformed Uzbekistan’s economic landscape, with a rise in FDI and development finance, significant growth in clean energy investments, and remarkable successes in the international debt market.
In 2023, Uzbekistan’s FDI soared to $19.5 billion, a stunning 93% increase from the previous year, while foreign trade turnover hit a record high of $62.6 billion.
Laziz Kudratov, the Minister of Investments, Industry, and Trade of the Republic of Uzbekistan, stated, “The Tashkent International Investment Forum is a platform to display Uzbekistan’s enormous potential and varied investment opportunities. In 2022, the forum drew over 2,000 major investors and high-ranking officials from 56 countries, resulting in contracts and investment agreements worth $7.8 billion. In 2023, we had even more success with 2,500 participants from 70 countries, and 164 contracts signed, representing $11 billion in value. We expect to exceed these numbers in 2024.”
