Uzbekistan vows to become middle-income country by 2030 at Tashkent Investment Forum

Tashkent, Uzbekistan — Uzbekistan vowed to become a middle-income country by 2030 at the Tashkent International Investment Forum at Tashkent City Congress Hall in Tashkent on Thursday.

Addressing the plenary session of the forum, Uzbek President Shavkat Mirziyoye outlined important measures to attract investment and practical proposals open up the country’s business environment as of this year.

“We aim to make Uzbekistan one of the world’s middle-income countries by 2030, said President Mirziyoye.

The president emphasized that Uzbekistan created favorable conditions for entrepreneurship, eliminating obstacles that previously prevented investors from entering the Uzbek market and operating freely. He also noted that these favorable conditions have led the annual volume of foreign investment in the Uzbek economy to increase three and a half times, reaching a total of $25 billion over the past five years.

He said that 59,000 investment projects contributed to the creation of more than 2.5 million new jobs, raising the level of processing in textile, leather, footwear, pharmaceutical, electrical, chemical, petrochemical, construction materials, food and many other industries. These industries have attained a qualitatively new level of processing and increased annual exports to almost $20 billion, he said.