New Uzbekistan: The Big Country with Big Opportunities

"Islamic trade finance aligns with the goal of fostering sustainable economic growth in Central Asia. By creating resilient financing structures and addressing SMEs’ challenges, this instrument is poised to drive significant regional development. With growing adoption, it is only a matter of time before all member countries fully reap the benefits." Hear from International Islamic Trade Finance Corporation (ITFC) CEO Eng. Hani Salem Sonbol, who discusses how Islamic Trade Finance can strengthen SME growth in Central Asia. Read more here: https://shorturl.at/XocA5

On November 8, 2024, the Foreign Investor Council's interim session under the President of Uzbekistan convened, spotlighting transformative initiatives aimed at enhancing Uzbekistan's investment climate.   Key highlights from the session included: - Investment Reforms: A comprehensive review of investment policies and recent reforms that have strengthened Uzbekistan’s appeal to foreign investors. - Special Economic Zones (SEZs): Plans were shared to develop SEZs, supporting sectors like banking, insurance, and more—positioning these zones as future economic hubs. - Alternative Investment Funds (AIFs): Detailed discussions on AIFs' roles and organizational mechanisms, supporting diverse investment avenues. - Streamlined Processes for Foreign Companies: Introduction of a “single-window” accreditation system to simplify market entry, making Uzbekistan more accessible and welcoming for investors. - Tax Reforms and Regulatory Simplification: Updates aimed at automating tax processes, reducing red tape, and facilitating land reservations for future projects, providing investors with more certainty and ease of planning. - Energy Sector Transformation: The session’s centerpiece was Uzbekistan’s rapid energy sector transformation, with proposals to establish working groups dedicated to sector transition. The session concluded with an engaging Q&A and discussions on legislative improvements, underscoring investor enthusiasm to further strengthen Uzbekistan’s business environment.   #NewUzbekistan #Investment #ForeignInvestment 

Uzbekistan's financial sector is demonstrating impressive growth, which highlights the country's potential as a major investment landscape. Recently, one of first digital banks - TBC, reported a 97% increase in profit since the beginning of the year, and its loan portfolio reached 460 million USD, which currently accounts for 44% of the group's total loans. In nine months, the bank attracted 3.7 million new customers, increasing its user base to almost 17 million, and deposits increased by two thirds to 314 million USD. Quarterly revenue doubled, reaching 41 million USD, and net income increased to 12 million USD with a high return on equity of 28%. These figures highlight Uzbekistan's potential as an emerging market with big opportunities for investors, while a young population, ongoing economic liberalization, and high demand for modern financial services create a solid foundation making Uzbekistan reliable landscape for investments. Read more here: https://shorturl.at/w3pPC

If you're exploring new markets for expansion, look no further than Uzbekistan. Dynamic economic reforms is positioning Uzbekistan as an FDI investment hub in Central Asia. - $22.4 bln: Foreign investments attracted in 2023 - 25%: Growth in foreign trade in 2023 - 6%: Average annual GDP growth - 60%: Of Uzbekistan’s population is under 30. The government has made significant regulatory reforms in recent years. Transparency, improved legal frameworks, and protection of investor rights are now at the heart of Uzbekistan’s business environment. With a rapidly modernizing economy, Uzbekistan is primed for further growth. There’s never been a better time to explore investment in Uzbekistan! #NewUzbekistan #Uzbekistan #FDI #EmergingMarkets #InvestmentOpportunity

New Uzbekistan's Economic Boom: A New Frontier for UK Firms! With Uzbekistan's rapid economic reforms and focus on trade, UK businesses have a unique opportunity to enter growing sectors like green energy, infrastructure, and mining. Backed by £4 billion in financing, the UK is taking steps to become a leading partner with Uzbekistan in its sustainable development journey. Seize the moment—explore how your business can thrive in this emerging market! Find out more here: https://invest.gov.uz/en #NewUzbekistan #TradeOpportunities #GreenEnergy #Infrastructure #GlobalTrade #FDI

Through analysis, it is predicted that the demand for electricity in Uzbekistan will grow by 7.5% annually until 2030. According to the Minister of Energy of Uzbekistan, Jurabek Mirzamakhmudov, along with the implementation of renewable energy projects, there are plans for the construction of hydroelectric power plants, modernization, and construction of thermal power plants, with an increase in the latter's capacity to 18.5 GW. Such raising demand is pushing the country to develop a number of different energy sources, among which the renewable energy is the priority. Therefore, Uzbekistan has adopted a program under which it plans to build solar and wind power plants with a capacity of 20 GW by 2030. "This year, we are introducing the first storage system with a capacity of 300 MW. By 2030, it is planned to increase the capacity of storage systems to 4.2 GW. Alongside this, the implementation of a project for the construction of pumped storage hydroelectric power stations is also planned to utilize hydropower potential. I would also like to note that 100% of renewable energy projects are implemented through direct foreign investments," said Mirzamakhmudov. The energy generation from other sources such as coal, gas, and hydroelectric plants is still showcases the vast potential of the New Uzbekistan. https://ow.ly/TOgi50TIEYQ #NewUzbekistan #Energy #FDI #RenewableEnergy

Last week, Samarkand had the honor of hosting the 9th Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) Interest Group, marking a pivotal moment in Uzbekistan’s role on the global stage. With over participants from around the world, the event provided an essential platform to discuss key topics like sustainable infrastructure, green energy, and regional connectivity. During the meeting, Uzbekistan showcased its forward-thinking approach to economic development, with a focus on enhancing investment in sectors such as transportation, renewable energy, and digital infrastructure. Our commitment to fostering sustainable and inclusive growth resonated throughout the discussions. Steeped in history and culture, Samarkand once again proved to be a crucial hub for international dialogue and collaboration. As a key city along the ancient Silk Road, it was the perfect venue to host conversations about the future of Eurasian connectivity and global partnerships. We thank all the participants, Asian Infrastructure Investment Bank (AIIB) Interest Group, and our esteemed partners for their invaluable contributions to the success of this event! Together, we are charting a new course for global progress. #Uzbekistan #AIIB2024 #Samarkand #FDI #NewUzbekistan

We are thrilled to unveil the launch our brand new investor portal - Invest Uzbekistan - your one-stop platform to discover new investment opportunities, access key resources, and connect with key decision makers in Uzbekistan. With this portal, investors can: - Explore a wide range of investment sectors - Access market insights, legal frameworks, and incentives. - Connect with key stakeholders and government institutions. - Discover sustainable and growth-focused projects. This marks a significant step toward making Uzbekistan a premier destination for global investors. Whether you're a seasoned investor or just starting your journey, the Invest Uzbekistan portal offers all the tools and information you need to make informed decisions. Explore now: https://invest.gov.uz/en #InvestUzbekistan #NewUzbekistan #FDI #Investment

Uzbekistan has achieved a key milestone by successfully completing negotiations with Argentina, becoming the 18th country to finalize talks on market access as part of Uzbekistan's accession to the WTO. In addition, fruitful discussions have been concluded with Brazil and Sri Lanka regarding market access. Aziz Urunov, the Special Representative of the President of Uzbekistan for WTO Affairs, highlighted several critical steps the country has taken towards achieving WTO membership. Support from nations such as Türkiye, France and Italy further strengthens Uzbekistan's position in this process. Read more here: https://ow.ly/zNGB50TqI5u #WTO #Uzbekistan #Investment #Trade #NewUzbekistan

Following Chancellor Olaf Scholz's visit to Central Asia, Germany and Uzbekistan signed eight key agreements to strengthen cooperation across multiple sectors. A major highlight is the Migration Agreement, making it easier for skilled Uzbek workers to work in Germany, enhancing mobility and flexibility. Other agreements cover: 🔹 Veterinary & Livestock 🔹 Environment & Water Resources 🔹 Climate Change 🔹 Mining & Minerals 🔹 Logistics & Transport 🔹 Tech & Industrial Partnerships Uzbekistan and Germany are also working on joint projects worth €9bln in the areas of green energy, chemical industry, mechanical engineering, textile industry. This marks a new chapter in the growing partnership between the two nations! Read more here: https://ow.ly/BbaM50To1Xu