Foreign leaders, investors, business leaders and international financial institutions gathered in the capital of Uzbekistan for the fifth Tashkent International Investment Forum (TIIF), which kicks off with a week of investment discussions, business meetings and economic diplomacy.
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Opening day discussions covered topics ranging from investment and infrastructure to technology, artificial intelligence and access to capital.
The forum is part of a broader week of diplomatic activity in Tashkent. German President Frank-Walter Steinmeier is due to arrive on Wednesday for an official visit focusing on trade, industrial cooperation, green technologies, transport and logistics.
On the sidelines of the forum program, President Shavkat Mirzioev held a series of bilateral talks with visiting leaders and business delegations.
Albania highlights European connectivity
Among the most notable meetings was the first summit between Uzbekistan and Albania.
President Mirzioev and his Albanian counterpart Bajram Begaj discussed ways to expand cooperation in the areas of trade, investment, green energy, digital technologies, tourism and agriculture.
Particular attention was paid to the possible use of the Albanian port of Durrès as a logistics platform for Uzbek exports to Southern Europe and Mediterranean markets.
The two sides also agreed to establish an intergovernmental commission to advance their economic and investment cooperation.
The presence of American companies is strengthening
One of the highlights of the opening day was the US-Uzbek Business Forum.
“Today, 193 American companies are represented at the Tashkent International Investment Forum,” Investment Minister Laziz Kudratov told participants. “This shows that the American business community considers Uzbekistan not only as a market, but also as a long-term investment partner. HAS”
This meeting followed a round table chaired by President Chavkat Mirzioev with senior officials from major American companies and financial institutions, including Boeing, Visa, JP Morgan, Meta, Air Products and Franklin Templeton.
Discussions focused on projects in the areas of critical minerals, energy, artificial intelligence, digital technologies and industrial development.
Separate meetings with the US Export-Import Bank and the US International Development Finance Corporation explored financing opportunities for infrastructure, energy and technology upgrades, including data centers and logistics facilities.
These meetings concluded with an exchange of cooperation agreements between Uzbek and American partners.
Themes that guide investment decisions
Beyond bilateral talks and panel discussions, the first day of the forum highlighted many of the issues currently influencing investment decisions in international markets.
Several sessions looked at ways for countries to attract long-term private capital, improve corporate governance and build investor confidence. Participants discussed the role of political risk, blended finance and export credit agencies in mobilizing investment for large-scale infrastructure and industrial projects.
Other discussions focused on the future of special economic zones, standards of responsible business conduct and the growing importance of environmental, social and governance (ESG) criteria to attract international investors. Speakers highlighted that access to capital increasingly depends not only on growth prospects, but also on regulatory transparency, accountability and predictability.
The program also reflected broader economic trends. Several sessions focused on the rise of Islamic finance, the competition between cities to attract investment and talent, as well as the role of businesses owned by women in economic growth. Participants noted that women represent nearly 40% of entrepreneurs in Uzbekistan but only receive 14% of the total volume of credits, highlighting one of the financing gaps mentioned during the forum.
AI ambitions and investment priorities
Many of the themes discussed during the bilateral meetings – artificial intelligence, energy, infrastructure, access to capital – also occupied a central place in the entire forum program.
Questioned by Euronews, the Minister of Digital Technologies, Sherzod Shermatov, indicated that Uzbekistan intends to associate the increase in its renewable energy capacities with investments in digital infrastructure and data centers.
_“_With AI, you need computing power. And for computing power, you need energy,” he said.
“Instead of exporting energy as a raw material, we would like to export it as data center services dedicated to AI. HAS”
Similar themes emerged in discussions around technologies, industrial development and the infrastructure needed to support future growth.
The capital markets were another common theme of the day.
“Investors are very keen to participate in the country’s capital markets,” Marius Dan, managing director for Central Asia at Franklin Templeton, told Euronews.
He added that international investors are paying increasing attention to the opportunities offered by Uzbekistan, as the country continues its economic reforms.
Several participants felt that attracting long-term capital is not just about offering investment opportunities.
“There has to be trust,” said Kanokpan Lao-Araya, country director for Uzbekistan at the Asian Development Bank.
According to her, investors continue to seek political stability, legal certainty and predictable business conditions when making long-term commitments.
This first day mainly served as a platform for exchanges and networking ahead of Wednesday’s plenary session, during which President Mirzioev must present the government’s economic priorities.
The coming days will allow us to better measure whether these discussions will lead to investment agreements and new business projects.
