Uzbekistan- Securing $23.6 billion in foreign investments over the first nine months of 2024, Uzbekistan is advancing its economic development agenda with remarkable progress. President Shavkat Mirziyoyev shared this achievement during a meeting dedicated to localization, public-private partnerships (PPP), and investment attraction. The country has steadily attracted over $78 billion in foreign investments over the past seven years, facilitating the launch of more than 1,000 projects and the production of 1,800 new types of goods, driving economic diversification and modernization.
At present, 366 large-scale projects valued at $140 billion are underway, requiring an annual investment of approximately $15 billion for imported equipment, raw materials, and construction supplies. President Mirziyoyev emphasized the need to boost the share of locally produced goods in these projects, aiming to strengthen domestic industry and reduce the country’s dependence on imports.
The energy sector is set to receive substantial investment, with plans to build 164 facilities by 2030, totaling $36 billion. Among these, 88 projects will be developed through public-private partnerships, highlighting the country’s commitment to leveraging private sector expertise in infrastructure development. Additionally, the mining industry is on track for a significant upgrade with a $1.2 billion program designed to enhance capacity and production.
To further stimulate economic growth, Uzbekistan is focusing on producing competitive products and increasing exports. Recently, investment initiatives amounting to $30 billion were approved, covering critical areas such as transportation, social infrastructure, and utilities. These programs are expected to boost public services and support the country’s overall development.
Efforts to modernize and diversify the economy include increasing the local content in ongoing projects and attracting more foreign investment. By channeling resources into strategic sectors and prioritizing high-value projects, Uzbekistan aims to foster a robust and resilient economy that can withstand global economic shifts while meeting international standards for growth and development.
