Uzbekistan To Attract More FDIs Through Improvements In Investment Climate - President

From Siti Radziah Hamzah

TASHKENT, June 17 (Bernama) -- Uzbekistan is looking to lure more foreign direct investments (FDIs) as the country implements systemic measures to improve its investment climate, including the establishment of the Tashkent International Financial Centre (TIFC) and expanded privatisation initiatives.

Uzbekistan President Shavkat Mirziyoyev said the country will launch a sovereign Islamic bonds (sukuk) programme, aiming to attract at least US$10 billion in additional capital for local enterprises in the future.

The sukuk programme is part of Uzbekistan's efforts to develop capital markets and alternative financial instruments.

"To strengthen the legal framework for such reforms, the laws on the capital market and alternative investment funds will be adopted. We will also create broad opportunities for the operation of international clearing companies in Uzbekistan,” he said.

Mirziyoyev said this in his speech at the opening of the Tashkent International Investment Forum 2026 (TIIF 2026) here today.

Also present were Albanian President, Bajram Begaj; Belarus Prime Minister, Alexander Turchin; and Malaysian Minister of Agriculture and Food Security, Datuk Seri Mohamad Sabu.

Mirziyoyev said as part of the privatisation programme this year, assets worth US$6 billion would be put up for auction, including real estate properties, state shares in enterprises and land plots.

He added that Uzbekistan has attracted foreign investments totalling US$123 billion over the past five years, reflecting the growing international confidence in the country's economic reforms.

He highlighted that efforts to establish the TIFC have begun, adding that it will operate under a special legal regime based on the principles of English common law.

Among other things, the centre will offer extensive incentives to international investors, including tax incentives, unrestricted capital movement and international legal protection mechanisms to strengthen investor confidence.

He added that Uzbekistan had already placed more than US$16 billion worth of bonds in international markets and successfully listed 30 per cent of the National Investment Fund on the Tashkent and London stock exchanges.

The government is also preparing several major companies for initial public offerings and plans to auction assets worth US$6 billion this year, including state-owned shares, land plots and real estate properties.

Mirziyoyev said Uzbekistan's economy is expected to surpass US$180 billion this year, significantly exceeding the US$100 billion gross domestic product target originally set for 2026.

Held from June 16 to 18, 2026, under the theme "Investment Resilience, New Frontiers, New Partnerships", TIIF 2026 has attracted nearly 4,000 participants from more than 100 countries.

-- BERNAMA