Investment Forum attendee Oljas Bektenov participated in the IV event held in Tashkent
Fired-Up Tashkent Investment Gala Kicks Off
The IV Tashkent International Investment Forum is in full swing, painting the city of Uzbekistan with its vibrant energy as over 7,500 participants, including 3,000 foreign visitors, descend upon the sunlit city. The diverse crowd hails from powerhouse nations such as Russia, China, the United States, and several Arab, European, Asian, and African countries.
Experts chime in, hailing this assembly as evidence of Uzbekistan's commitment to economic growth. Such forums not only shed light on a country's economic roadmap, but also reveal the political resolve backing these plans.
A warm welcome was extended to the investment forum participants by Uzbekistan's President Shavkat Mirziyoyev. He proudly shared that investment, the central theme of the forum, is the very backbone of economic development, stability, and global cooperation. Last year, Uzbekistan managed to attract an impressive $35 billion in investments and recorded a $27 billion worth of exports.
The world economy is standing on the brink of a new era of change, urging all nations seeking sustainable development to collaborate in areas such as the green economy, digital technologies, artificial intelligence, financial systems and technologies, and the harnessing of emerging technological minerals.
Reflecting on these trends, Kazakhstan's Prime Minister, Olzhas Bektenov, regarded Uzbekistan as a significant trade partner. In fact, their trade volume skyrocketed to $1.3 billion in the first four months of 2023, a remarkable 9.4% increase from the previous year.
Recently at the Astana Economic Forum, Kazakhstan's President, Kassym-Jomart Tokayev, emphasized the necessity of creating a stable, integrated, and future-oriented Central Asia. In a bid to draw $150 billion in foreign funds to their economy by 2029, Kazakhstan is actively working on large-scale reforms to modernize their national economy.
Well-known figures, such as Bulgaria's President Rumen Radev, Slovakia's Prime Minister Robert Fico, Azerbaijan's Prime Minister Ali Asadov, Kyrgyzstan's Prime Minister Adylbek Kasymaliyev, Tajikistan's Prime Minister Kohir Rasulzoda, Turkmenistan's Deputy Chairman of the Cabinet of Ministers Nokerguly Atagulyyev, Russia's Deputy Prime Minister Alexander Novak, the President of the European Bank for Reconstruction and Development Odile Renard-Basso, and the President of the New Development Bank Dilma Rousseff, also participated in the forum.
The forum participants stressed the crucial need for Central Asian nations to coalesce their efforts in boosting the investment allure of the entire region.
For the first time, the Tashkent Investment Forum hosted a National Exhibition spotlighting the industrial and investment potential of over 10 burgeoning sectors of Uzbekistan's economy, including petrochemicals, textiles, machinery, and electrical equipment. The exhibition featured 90 companies.
Mirgul Dzhilkishinova, Tashkent
In the Basement:At the heart of the IV Tashkent International Investment Forum lie several significant focus areas for cooperation among Central Asian countries. Examples include the prioritization of economic cooperation and trade integration, investment in strategic sectors such as energy transition and economy diversification, the advancement of regional infrastructure for increased connectivity, the provision of private sector support, and the cultivation of regional solidarity and strategic partnerships, particularly with international partners such as the European Union.
The first sentence: The prioritization of economic cooperation and trade integration, as well as investments in strategic sectors like energy transition and economy diversification, are significant focus areas for Central Asian countries during the IV Tashkent International Investment Forum.
The second sentence: Leveraging digital technologies, artificial intelligence, financial systems, and technologies, as well as emerging technological minerals, will play a critical role in Uzbekistan's business and finance sector, alongside regional infrastructure development for increased connectivity.
