Uzbekistan’s Syrdarya Region Courts Malaysian Investors As Gateway To Central Asia
By Wan Muhammad Aslah Wan Razali
KUALA LUMPUR, Jan 26 (Bernama) -- Uzbekistan’s Syrdarya region has pitched itself as a strategic gateway for Malaysian investors and businesses seeking access to Central Asian and Commonwealth of Independent States (CIS) markets.
Syrdarya Governor Erkinjon Turdimov said the region has established a highly favourable ecosystem for foreign direct investment, underpinned by the Syrdarya Free Economic Zone, which spans nearly 2,000 hectares.
He said Malaysian companies operating within the zone would benefit from comprehensive tax and customs incentives, including exemptions from profit, property and land taxes for a period ranging from three to 10 years.
"Products manufactured in Uzbekistan are exported to CIS countries under a virtually free trade regime.
“At the same time, within the framework of the GSP+ system, more than 6,000 types of goods can be exported to the European Union without customs duties," he said in his keynote address at the Uzbekistan-Malaysia Cooperation Forum 2026: Do Business in Syrdarya and business-to-business (B2B) meetings here Monday.
The forum was held in conjunction with the governor's official visit to Malaysia, following the momentum generated by high-level diplomatic exchanges, including Prime Minister Datuk Seri Anwar Ibrahim’s visit to Uzbekistan in May 2024 and President Shavkat Mirziyoyev’s state visit to Malaysia in February 2025.
Meanwhile, Uzbekistan’s Ambassador to Malaysia, Dr Karomidin Gadoev, described the Syrdarya region as an emerging "Mini Malaysia" due to the active participation of Malaysian talent and enterprises, particularly in the information technology (IT) sector.
"Syrdarya is one of the youngest regions in Uzbekistan and a fast-growing region,” he said, adding that Uzbekistan’s Digital Technologies Minister, Sherzod Shermatov, noted that Syrdarya is becoming a 'Mini Malaysia' because there are many Malaysians working in the sector.
Gadoev said that Uzbekistan offers immense untapped potential for Malaysian businesses, driven by the largest consumer market in Central Asia with a population of 38 million and a rapidly growing economy.
He noted that Uzbekistan’s Gross Domestic Product (GDP) reached US$147 billion in 2025, recording growth of 6.5 per cent, with foreign direct investment surging more than tenfold over the last nine years to reach US$43 billion.
"We welcome Malaysian companies and partners to export Uzbekistan’s best fruits and locally manufactured goods to Malaysia,” he said.
He said the Embassy is ready to find proper local partners to consider implementing joint investment projects in Uzbekistan, in particular in agriculture and food processing, energy sector, hydro renewable energy sources, IT and business outsourcing, pharmaceutical sector, and construction materials production.
Malaysia External Trade Development Corporation (MATRADE) deputy chief executive officer S. Jai Shankar, who also addressed the forum, said bilateral trade between the two nations is witnessing a "golden era".
He said that trade between Malaysia and Uzbekistan grew by 16.3 per cent in 2025, reaching US$109.9 million.
"Syrdarya represents a new frontier for expansion, not only into Uzbekistan but to the rest of Central Asia. We urge Malaysian companies, especially our mid-tier companies, to explore the incentives and opportunities offered," Jai Shankar said.
He added that just as Uzbekistan views Malaysia as a valuable partner to be leveraged as a gateway to ASEAN, Malaysian businesses should use Uzbekistan as their gateway to Central Asia.
The forum concluded with a series of business-to-business (B2B) matching sessions aimed at deepening cooperation in trade, logistics, tourism and education.
-- BERNAMA
