- Over 2,500 delegates from 84 countries around the
world registered to attend
- Among them will be representatives of governments,
heads of large companies, as well as representatives of
international organizations such as the UN, EBRD, OPEC, and
SCO
- This year's programme is focused on New Uzbekistan:
the big country with big opportunities
- Uzbekistan to
attract more than $70 billion in FDI
over the next five years
TASHKENT, Uzbekistan, May 1,
2024 /PRNewswire/ -- The Government of Uzbekistan is
delighted to announce the event programme and key partners for the
third annual Tashkent International Investment Forum, launching
tomorrow.
Led by the Ministry of Investment, Industry and Trade (MIIT),
The Forum aims to accelerate Uzbekistan's growth and development, aligned
with the "Uzbekistan 2030"
strategy, which includes increasing Uzbekistan's GDP to $160 billion and attracting $250 billion investment into the country.
Taking place at the Tashkent City Congress Hall, The Forum will
be opened by President of Uzbekistan Shavkat Mirziyoyev.
Dignitaries from across the world are due to attend, with keynote
speakers including Mikayil Jabbarov, Minister of Economy of
Azerbaijan; Serik Zhumangarin,
Deputy Prime Minister of Kazakhstan; Minister of Finance and Economy of
Turkmenistan; Minister of Energy
of the Kyrgyz Republic; Minister
of Energy of the Republic Kazakhstan; Minister of Energy and Water
Resources of the Republic of Tajikistan; Qais bin
Mohammed Al Yousef; Minister of Commerce., Industry and
Investment Promotion of Oman;
Minister of Economy, UAE, Minister of Finance, Hungary; Abdulhamid
Alkhalifa, Director-General, OPEC Fund for International
Development.
The two-day event includes a series of round tables and panel
sessions, as a platform to exchange ideas and plans to support
Uzbekistan's foreign direct
investment success. Topics for discussion include the
investment opportunities available in specific sectors such as
energy, infrastructure, agriculture, tourism, mining and the
digital economy.
A discussion on the development of fintech in Uzbekistan, one of the fastest growing and
most innovative segments of the Uzbek economy, features guest
speakers Djasur Djumaev, CEO, Uzum – the first tech unicorn from
Uzbekistan, Nicolas Kurdiani, CEO,
TBC Bank and others. Another debate on investing in green energy
will include contributions from Marco
Arcelli, CEO, ACWA Power; Seifi
Ghasemi, CEO, Air Products; Mohamed
Jameel Al Ramahi, CEO, Masdar.
In addition, The Forum will address themes such as investing in
women's entrepreneurship, inspiring young people in business,
scaling up of SMEs and new approaches to sustainable investment.
The event will close with a prestigious signing ceremony of
investment and trade agreements, underscoring the role of The Forum
in transforming Uzbekistan's
economic prospects and progress.
Minister of Investments, Industry and Trade of the Republic of
Uzbekistan, Laziz Kudratov:
"The agenda for this year's Tashkent International Investment
Forum reflects the significant and diverse investment opportunities
that Uzbekistan offers, and we are
pleased to welcome an esteemed list of investors, officials and
dignitaries from all over the world to share ideas and create new
partnerships. We are looking to build on the success and momentum
generated by the 2023 Forum, securing further deals and foreign
investment, and propelling 'New Uzbekistan' forward."
A wide-reaching and radical reform programme, matched with
an ongoing process of managed economic liberalisation, is
transforming Uzbekistan's economy,
and global investors and multinationals are taking note – so
concludes a new report, commissioned by the Ministry of Investment,
Industry and Trade (MIIT) of the Republic of Uzbekistan.
Coinciding with the opening of the Tashkent Investment Forum,
the New Uzbekistan report details the expansive and radical
economic reforms which have seen Uzbekistan's economy pivot from traditional
sectors such as cotton and grain production to IT outsourcing,
green energy and e-commerce.
As well as reflecting the impressive economic metrics
Uzbekistan has recorded in recent
years – from 6% GDP growth and a 25% increase in foreign trade in
2023 to 2x growth in average monthly wages (US $) over the past
five years – the report charts the government's 2030 Strategy,
which include securing membership of the World Trade Organisation
and an increase in the private sector's share of the economy to
85%.
Moreover, the report gauges international investor perceptions
of Uzbekistan and its market
reform program, drawing commentary from leading Emerging Market
specialists including Franklin
Templeton, Rothschild & Co, the International Islamic
Trade Finance Corporation, the European Bank for Reconstruction and
Development, the Asian Development Bank, and the London Stock
Exchange, among others.
The Tashkent International Investment Forum is supported by
International Islamic Trade Finance Corporation (ITFC) and ACWA
Power the leading investor in Uzbekistan's energy sector as platinum
sponsors, and Uzum the first unicorn from the country as bronze
sponsor. One of the major announcements at The Forum concerns the
launch of Trade Connect Central Asia+ (TCCA+), a pioneering
regional economic cooperation initiative and a flagship program
introduced by ITFC. The launch will bring together ministers
and policymakers in the region along with heads of selected
international organizations and International Financial
Institutions (IFIs) to discuss ways and means to unleash
intra-regional trade and investment potential, particularly within
the context of TCCA+ Program launch.
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