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6 May 2024

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IDCA Concludes Tashkent International Investment Forum Visit

IDCA has concluded a visit to the Tashkent International Investment Forum and meetings with Uzbekistan government leaders and stakeholders from throughout Asia and the Middle East.

“This forum, hosted by His Excellency President Mirziyoyev, provided a unique opportunity for our industry to explore new developments in the country’s business environment, help shape and actively participate in development of next generation of Uzbekistan’s entrepreneurs, and gain a deep understanding of major FDI projects and privatization measures in this country,” according to Paryavi.

Uzbekistan is a nation of 37 million people located in the heart of Central Asia, with proximity to the Middle East as well as South Asia. It is rich in natural resources and agricultural products, “and is in the midst of leveraging its traditional economy into a more highly digitized environment, including the development of Digital Infrastructure and a Digital Economy,” continued Paryavi.

There were more than 2,500 attendees from 93 nations at this year's Forum. President Mirziyoyev noted that Uzbekistan has attracted more than US$60 billion in foreign investments in recent years, “and the volume of foreign investment nearly doubled last year.” He listed several new energy companies participating in Uzbekistan's economy, and outlined a goal to deliver 20 gigawatts of new sustainable energy by 2030. “Sustainable energy will (thus) increase to 40 percent” of the nation's electricity grid, he said.

Groundbreaking data center developer DataVolt was among the companies present in Tashkent, with plans for key investments in Uzbekistan, sponsored by Saudi Arabia's Vision Invest and its CEO Omar AlMidani.

During his visit, IDCA also met with Uzbekistan's Investment Promotion Agency, key Uzbekistan cabinet members such as HE Sherzod Shermatov and Laziz Kudratov, as well as United States Ambassador Jonathan Henick and Embassy Counselor for Political and Economic Affairs, Matt Habinowski.

Other key stakeholders present at the Tashkent Forum, among others, included:

  • Cevdet Yılmaz, Vice President of Turkey
  • Kian Peng Seah, Parliament of Singapore
  • Akylbek Zhaparov, Chairman of the Cabinet of Ministers of the Kyrgyz Republic
  • Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD)
  • HRH Prince Abdulaziz bin Salman Al Saud, Minister of Energy, Kingdom of Saudi Arabia
  • Abdulhamid Alkhalifa, President, OPEC Fund

“With effective follow up and planning, this forum had the potential to kick start a new, exciting era of development for Uzbekistan and Central Asia,” said Paryavi. “IDCA looks forward to working with the numerous ndividuals and organizations we met in Tashkent and boosting the promise of the digital economy for Uzbekistan and the CIS region.”

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