Minister Kudratov: Tashkent International Investment Forum, starting in two days, is a milestone for the region – Interview

Source: MTI/Lakatos Péter

The Tashkent International Investment Forum, considered by many to be the largest investment conference in Central Asia, is about to begin. We had the chance to interview Laziz Kudratov, Uzbekistan’s Minister of Investment, Industry and Trade, about the event:

Daily News Hungary: The Tashkent International Investment Forum will take place on 2-3 May in Uzbekistan. Can you tell us why this is an unmissable event for decision-makers in the business sector?

Minister Kudratov: The Tashkent International Investment Forum is a milestone event for the region. As the biggest conference in Central Asia, it is a key vehicle in identifying and sourcing investment opportunities across a number of key sectors including: renewable energy, infrastructure, agriculture, tourism, mining and the digital economy.

The Forum provides foreign investors a gateway into New Uzbekistan: the big country with big opportunities. Its objective is to accelerate Uzbekistan’s growth and development, aligned with the “Uzbekistan 2030” strategy, which includes increasing Uzbekistan’s GDP to $160 billion and attracting $250 billion investment into the country.

Since the inaugural event in 2022, The Forum has contributed to the transformation of Uzbekistan’s economic prospects and progress, with foreign direct investment and development finance both increasing, along with marked growth in clean energy investment and landmark international debt market success.

Daily News Hungary: Who will be the key speakers at the event?

Minister Kudratov: The Forum will be opened by President of Uzbekistan Shavkat Mirziyoyev. Dignitaries from across the world are due to attend, with keynote speakers including Mikayil Jabbarov, Minister of Economy of Azerbaijan; Serik Zhumangarin, Deputy Prime Minister of Kazakhstan; Muhammetgeldi Serdarov, Minister of Finance and Economy of Turkmenistan; Ibraev Taalaibek Omukeevich, Minister of Energy of the Kyrgyz Republic; Almassadam Satkaliyev, Minister of Energy of the Republic Kazakhstan; Daler Juma, Minister of Energy and Water Resources of the Republic of Tajikistan; Qais bin Mohammed Al Yousef; Minister of Commerce, Industry and Investment Promotion of Oman; Abdulla bin Touq Al Marri Minister of Economy, UAE and the Mihály Varga, Minister of Finance, Hungary.

A discussion on the development of fintech in Uzbekistan, one of the fastest growing and most innovative segments of the Uzbek economy, features guest speakers Djasur Djumaev, CEO, Uzum – the first tech unicorn from Uzbekistan, Nicolas Kurdiani, CEO, TBC Bank and others. Another debate on investing in green energy will include contributions from Marco Arcelli, CEO, ACWA Power; Seifi Ghasemi, CEO, Air Products; Mohamed Jameel Al Ramahi, CEO, Masdar.

Daily News Hungary: Could you also give us figures on how many countries will be represented, how many participants are expected and what investment amounts could be decided even during the Forum?

Minister Kudratov: We are expecting to better the attendance from last year’s event with over 2,500 delegates registered to attend The Forum. We also have over 100 international speakers and 84 countries represented.

In 2022, The Forum was attended by over 2,000 major investors and high-ranking officials from 56 countries worldwide with contracts and investment agreements worth $7.8 billion were signed.

2023 was even bigger. As a result, 164 contracts were signed representing $11 billion in value. We’re confident that these figures will be better during this year’s event. Get more information on the official site.

Daily News Hungary: How does Uzbekistan offer an exceptional opportunity? In which sectors are investors expected?

Minister Kudratov: Uzbekistan has undergone significant economic reforms making it an attractive destination for foreign investors. We have improved process and governance as we aimed to create more opportunities for investors and increased transparency in the investment process.

In recent years, Uzbekistan has recorded 6% GDP growth and a 25% increase in foreign trade in 2023, plus an increase in the private sector’s share of the economy to 85%. Showcasing a flourishing business environment. The region also has many opportunities across various sectors, including manufacturing, renewable energy, IT and communications, mining and transportation.