Tashkent’s Turning Point: Why the Time is Now for Global Investors in Uzbekistan

As Uzbekistan accelerates its transformation from a closed economy to a liberalised investment destination, the Tashkent International Investment Forum (TIIF) emerges as a defining platform for engagement. The event — available online — is more than a showcase; it is a strategic milestone in the country’s economic reform agenda. With far-reaching reforms, WTO accession on the horizon, and a rapidly modernising infrastructure, Uzbekistan is at a critical inflection point — and TIIF arrives at just the right moment.

Tashkent, Uzbekistan

 Economic Reforms: Foundations for Sustainable Growth

Uzbekistan is undertaking one of the most ambitious economic transitions in the region. The ‘New Uzbekistan Development Strategy’ (2022–2026) sets out a bold agenda to shift the nation from a historically protectionist model to an open, market-driven economy. These are not cosmetic reforms — they are deeply structural and designed to attract long-term foreign direct investment (FDI).

Measures such as the liberalisation of trade, simplification of bureaucratic processes, and improvements to the investment climate have already had a tangible impact. One-window registration systems and digital reporting tools have streamlined business operations, while Free Economic Zones (FEZs) and Small Industrial Zones (SIZs) offer meaningful tax incentives. These efforts are realigning Uzbekistan with global capital flows — and TIIF serves as the prime stage to demonstrate this readiness to the international investor community.

WTO Accession: Unlocking New Global Opportunities

A cornerstone of Uzbekistan’s economic vision is its bid for World Trade Organization (WTO) membership by 2026. This ambition represents more than a symbolic milestone — it is a powerful signal of intent to integrate fully into the global economy. Progress has been tangible, with bilateral negotiations concluded with 22 countries, including the United Kingdom.

WTO accession will provide Uzbekistan with greater access to international markets, lower trade barriers, and significantly improve its attractiveness to institutional investors. Aligning national legislation with WTO standards remains a challenge, but the state’s forward-leaning stance — including policy reforms and legal harmonisation — sends a clear message: Uzbekistan is open for business, and TIIF is where that message takes centre stage.

Infrastructure: Investing in the Future

Infrastructure is the backbone of Uzbekistan’s economic transformation, and it is being upgraded at pace. From energy and transport to digital networks, the government is focused on creating the systems needed to support long-term growth and investment. TIIF plays a critical role in showcasing these sectors to global stakeholders.

Key examples include the electrification of the Bukhara-Miskin-Urgench-Khiva railway line, enhancing domestic and regional connectivity. In energy, Uzbekistan’s aim to generate 40 percent of its power from renewable sources by 2030 reflects its commitment to sustainability. On the digital front, nationwide fibre-optic expansion and the roll-out of 5G are catalysing the growth of a future-ready digital economy. These sectors represent both opportunities and confidence signals for investors attending the forum.

A Strategic Gateway: Uzbekistan’s Geopolitical Edge

Positioned at the heart of Central Asia, Uzbekistan occupies a pivotal geographic and geopolitical role. Its location makes it a natural hub for regional trade and logistics, particularly in the context of transcontinental initiatives such as China’s Belt and Road Initiative (BRI).

Uzbekistan is also an active participant in projects such as the Central Asia–South Caucasus–Anatolia+ (CASCA+) corridor, which aims to link Central Asia with European markets via the Caucasus. These endeavours reinforce Uzbekistan’s status as a strategic gateway — a country whose economic future is closely tied to the fortunes of the wider region. TIIF offers investors a rare opportunity to get ahead of this curve.

Seizing the Post-Pandemic Rebound

As the global economy emerges from the disruptions of the COVID-19 pandemic, investors are seeking new growth markets with stability and reform momentum. Uzbekistan ticks both boxes. Despite global headwinds, the country has maintained macroeconomic stability and continued implementing reforms to attract long-term capital.

TIIF represents a timely platform for investors to align with a government committed to structural transformation and economic openness. With global capital looking for new frontiers, Uzbekistan is positioning itself as a credible and compelling alternative — and the forum offers a clear window into its evolving landscape.

Challenges and Commitments: Addressing Risks Head-On

Like any emerging economy, Uzbekistan faces challenges — from institutional capacity to the complexity of reform implementation. However, the government is addressing these issues with transparency and resolve. Its collaboration with institutions such as the Asian Development Bank (ADB) and the European Bank for Reconstruction and Development (EBRD) is enhancing capacity, regulatory frameworks, and project execution standards.

Workforce development, public sector reform, and private sector support are also part of the long-term strategy. For investors attending TIIF, this proactive approach signals a government not only aware of its limitations but also determined to overcome them.

TIIF comes at a moment of convergence: economic liberalisation, imminent WTO accession, infrastructure investment, geopolitical positioning, and post-pandemic resilience. For the international investment community, this is not just another regional event — it is an invitation to participate in the emergence of a new economic player on the global stage.

Uzbekistan is not standing still. It is laying the foundations for sustainable and inclusive growth — and is actively seeking partners to help build that future. TIIF is the ideal venue to explore those partnerships.

Final Thought: A Forum for the Future

As Uzbekistan prepares to host the next edition of TIIF, the global investment community would do well to take notice. This is not simply a moment of optimism — it is a moment of strategic realignment. For those looking to be part of a country’s growth story from the ground up, the time is now, and the place is Tashkent.