New Uzbekistan: new investment prospects
From Murat Ozyer
In 2022 the EBRD invested almost US$ 900 million in 26 projects in Uzbekistan, making it the leading recipient of its funding in Central Asia for the third year running. This is recognition of the country’s growing investment attractiveness and favourable regulatory environment, which have allowed the Bank to finance a number of major projects, including some of the largest renewable energy projects in the region. At the end of last year, with the EBRD’s support, Uzbekistan held the first plenary session of the Foreign Investors’ Council, which will serve as a platform for dialogue between foreign investors and the authorities fostering reforms. The Investment Outlook Session on Uzbekistan, organised as part of the Business Forum and to be held within the context of the 2023 Annual Meeting of the EBRD Board of Governors, will provide a platform for the exchange of information and views with the international business community, about the prospects and opportunities for investment and growth offered by Uzbekistan.
Uzbekistan, a vibrant market of 35.6 million people, is located at the heart of Central Asia, at the crossroads between Europe and Asia. The country is becoming one of the most important investment destinations in the region, supported by political and macroeconomic stability, abundant reserves of natural gas, gold, uranium, silver and, copper, a long tradition of and significant potential in large-scale manufacturing and a young, qualified labour force.
The second phase of structural economic reforms focusing on the well-being and prosperity of society and encouraging private entrepreneurship is already under way with the approval of the New Uzbekistan Strategy for 2022-2026.
- Zsuzsanna Hargitai, Managing Director, Central Asia, EBRD
- Alkis Vryenios Drakinos, Director, Head of Uzbekistan, EBRD
- Odile Renaud-Basso, President, EBRD
- Shukhrat Vafaev, Director General, Agency for Strategic Reforms under the President of the Republic of Uzbekistan
- HE Sardor Umurzakov, Head of Presidential Administration, Republic of Uzbekistan, Administration of the President of the Republic of Uzbekistan, AmEBRD Governor
- Obid Khakimov, Vice Adviser to the President of the Republic of Uzbekistan