Uzbekistan Sees Foreign Investment Growth of over 60 per cent in 2024

'New Uzbekistan: The Big Country With Big Opportunities – Reform In Action' FDI Report unveiled as Tashkent International Investment Forum Gets Underway

TASHKENT, Uzbekistan, June 10, 2025 /PRNewswire/ -- Foreign investment in Uzbekistan is growing rapidly as the country saw an over 60 per cent increase during 2024 to reach $34.9 billion, a report released today by the Ministry of Investment, Industry and Trade (MIIT) of the Republic of Uzbekistan confirmed. International investments in the country are projected to reach $42 billion in 2025 as momentum grows.

The 2025 Tashkent International Investment Forum kicked off on June 9th

The report: 'New Uzbekistan: The Big Country With Big Opportunities – Reform In Action', showcases the country's ongoing journey to becoming a leading destination for FDI. Uzbekistan has taken bold steps in overhauling its tax structure, streamlining regulations and modernising its legislative framework to make doing business simple, faster and more transparent. Spearheading this process has been part of the "Uzbekistan 2030" strategy, a future-focussed roadmap designed to transform every facet of the national economy.

No fewer than 18 companies have lined up for Initial Public Offerings (IPOs), proof that Uzbekistan is finding favour with private capital.

Key highlights of the report include:

• A growing green energy sector, with target to increase renewable generation to 26 per cent by the end of 2025;
• Sovereign bond issuance was $12 billion from 2019 to 2025 via listing on the London Stock Exchange, and $2.84 billion already in 2025;
• Investment of $3 billion in an AI-enabled and sustainable data centre with a capacity of 250 MGWs;
• As of April 2025, Uzbekistan had established 28 Special Economic Zones (SEZs), 389 Small Industrial Zones (SIZs), 23 technology parks, and 355 clusters. These zones host a total of 6,997 enterprises, including 1,032 in SEZs, 2,981 in SIZs, 2,606 in technology parks and 378 in clusters;
• 76 strategic projects worth over $2.6 billion planned over the next three years, to boost extraction and processing of 28 essential minerals;
• Equity markets journey, spearheaded by the launch of Uzbekistan's National Investment Fund (UzNIF) with Franklin Templeton appointed Trustee and Fund Manager;
• 40 per cent of Uzbekistan's population is under the age of 25;
• E-commerce is projected to comprise of 9–11 per cent of total retail sales by 2027.

The report was officially launched on Day 1 of the Tashkent International Investment Forum, where global investors, policymakers, and business leaders are discovering the true New Uzbekistan: The Big Country with Big Opportunities. With this year's theme of "Reform in Action", over 3,000 international participants from 95 countries are expected to attend the Forum, taking place at CAEx Uzbekistan from 9 to 12 June.

The report was sourced, drafted and finalised by Hudson Sandler, with support from PricewaterhouseCoopers (PwC), and features insights from corporates and sponsors, including: ACWA Power, Uzum, KOC Construction, Vision Invest, AKSA Energy, UzOman, Coca-Cola, TBC Bank Uzbekistan, European Investment Bank, Franklin Templeton, OTP Group, Ipoteka Bank, DataVolt, Miahona, StoneX, Halyk Bank and Squire Patton Boggs.

To read the full report, please visit https://invest.miit.uz/.

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