An international conference was held on the topic ‘‘Work to attract sustainable investment and support entrepreneurship to improve the well-being of the population’’

On October 22, 2024, Tashkent hosted an international conference on the topic ‘‘Work to attract sustainable investment and support entrepreneurship to improve the well-being of the population’’, the press service of the MIIT reports.

The expert dialogue, organized as part of the International Partnership Initiatives Week, brought together representatives of 15 foreign companies, such as Data Volt, Marubeni Corporation, SUEZ, ACWA Power, Masdar, OTP Green Fund, CAMCE, Vision Invest, as well as about 80 heads of Uzbek companies.

The speakers at the event were Deputy Minister of Investment, Industry and Trade Akram Aliyev, Deputy Chairman of the Competition Committee of Uzbekistan Farrukhbek Karabaev, Deputy Director of the Agency for Attracting Foreign Investments Roxana Nesor, Executive Director of the American-Uzbek Chamber of Commerce Elena Son, Head of the Consumer Protection and Competition Department of the German Foundation for International Cooperation Lia Grauberger, Senior Researcher at the Max Planck Institute for Innovation and Competition Daria Kim (Germany), Advisor to the Chairman of the Supervisory Board of Ipoteka Bank Sandor Reti (Hungary).

In his speech, Akram Aliyev noted that in the period from 2017 to 2023, Uzbekistan achieved significant economic growth and took a leading position in the region. The country’s gross domestic product increased from $ 60 billion to $ 100 billion, which reflects a sustainable and developing economy. In addition, last year, the volume of Uzbekistan’s foreign trade amounted to $ 62.6 billion, which indicates the country’s growing presence in the global market. Industrial production also increased and amounted to $56 billion.

Within the framework of the “Uzbekistan-2030” strategy, large-scale reforms are planned, aimed at ensuring that by 2030 85% of the country’s economy is private sector, and 40% of energy comes from renewable sources. The goals of doubling labor productivity and increasing exports to $45 billion have also been announced.

In turn, international experts noted that the reforms carried out in Uzbekistan are receiving international recognition and are aimed at creating the most favorable conditions for foreign investors. For example, an attractive environment for large businesses is created by simplifying procedures and introducing competitive tender processes in key sectors such as energy and infrastructure. Thus, foreign companies and investors view Uzbekistan as a reliable and attractive investment destination, which will help attract additional capital in the future.