President Shavkat Mirziyoyev announced at the Tashkent International Investment Forum that Uzbekistan's economy is entering a new stage.
According to the head of state, over 150 billion dollars in foreign investment has been attracted to the country in recent years. Of this, 123 billion dollars accounted for the last five years.
Mirziyoyev noted that this year’s forum is attended by nearly 4,000 foreign guests from over 100 countries worldwide, emphasizing that this is a vivid expression of the growing trust in New Uzbekistan.
According to the President, last year the country's gross domestic product grew by 7.7 percent, and 43 billion dollars in investment was attracted to the economy. The volume of international reserves exceeded 70 billion dollars.
The head of state recalled that four years ago, the task was set to increase the country's gross domestic product to 100 billion dollars by 2026, and stated that today the economy is expected to exceed 180 billion dollars.
New opportunities for investors were also announced at the forum. In particular, the Tashkent International Financial Center will be established. For participants of the center, profit tax, value-added tax, property tax, and customs duties will be set at a zero rate. These benefits will be effective for 50 years in the initial stage.
Also, a special legal regime based on English law will be introduced in the area of the center, and an independent Tashkent International Commercial Court will be established.
The President also announced that new laws will be adopted to develop the capital market, the IPO issuance of national companies will continue, and a sukuk program, which is an instrument of Islamic finance, will be launched.
Mirziyoyev noted that the total value of Uzbekistan's mineral resources is estimated at approximately 3 trillion dollars, and stated that investment projects worth tens of billions of dollars are being offered in the mining, chemical, mechanical engineering, robotics, construction materials, electrical engineering, and pharmaceutical sectors.
The head of state said there are also big plans in the field of "green" energy. The goal is to increase the share of renewable energy sources in total electricity generation to 54 percent in the coming years.
At the same time, it was announced that a special zone for artificial intelligence and data centers has been established in Karakalpakstan. There, investors will be exempt from all types of taxes and duties until 2040.
In his speech, the President also touched upon major projects in the transport and logistics sector. In particular, it was emphasized that the construction of the China – Kyrgyzstan – Uzbekistan railway, the Trans-Afghan corridor, and the Middle Corridor project passing through the Caspian Sea are of great importance in increasing the region's transport potential.
Addressing foreign investors, Mirziyoyev stated that Uzbekistan is always open to investors ready for equal and mutually beneficial cooperation.
"The doors of New Uzbekistan are always open to foreign investors. As President, I personally and our Government are ready to support you in every way," the head of state said.
