One of the key events of the forum was the presentation of regional energy projects (construction of Kambarata HPP-1 and Yavan HPP) to foreign investors. The presentation was attended by the Prime Ministers of Uzbekistan and Kyrgyzstan, which emphasized the importance of these projects for the entire region.
As a result of the TIIF, agreements totaling $26.6 billion were signed, which testifies to the high investment attractiveness of Uzbekistan and the success of the forum, according to Uzbek officials. As many as 167 documents worth $11 billion were signed at TIIF in 2022, which demonstrates a significant increase in investment interest to the country.
Following agreements were signed:
– “Data Volt” from Saudi Arabia will be engaged in the construction of urban infrastructure in “New Tashkent” for the amount of $1 billion, as well as create a “data center” based on green technologies for the amount of $3 billion.
– Saudi Arabia’s Acwa Power will implement projects to build a 5 GW wind farm in the Republic of Karakalpakstan and create 2 GW of electricity storage capacity for a total of $6.2 billion.
– UAE-based Amea Power will implement a $1.1 billion project to build a 1,000 MW wind farm in the Republic of Karakalpakstan.
– “Saudi Tabrid” will start modernization of the heat supply system in Nukus, Fergana and Kuvasay at a cost of $750 million.
– Egypt’s “Nil Shugar” will grow sugar beets and produce sugar in Jizzak region at a cost of $500 million.
– Chinese company “Shanghai Knud International” will implement a project on production of textile and garment products in Namangan region for the amount of $205 million.
– “Wilmar International” company (Singapore) will produce food products and confectionery in Tashkent region for the amount of $200 million dollars.
In addition, the forum reached agreements with a number of the world’s largest companies, such as “Orascom Investment” (Egypt), “Bonafarm Grup” (Hungary), “Sayar” (USA), “Goldwind”, “Sinoma” (China), “Sam Yapi” (Turkey), “Pasha Development” (Azerbaijan), “Lasselsberger” (Austria), “Petrosat Chexelsoton” (Iran) on realization of new investment projects worth $6.6 billion.
The event included a programme of panel sessions, discussions, business breakfasts and round-tables, where the most important aspects of economic development were discussed. The central topic was the role of the government, investors and entrepreneurs in supporting small and medium-sized businesses.
The session devoted to retail trade outlined the main problems and opportunities of the industry. Participants expressed the need to improve tax legislation and simplify import procedures. They also noted that it is important to create conditions for successful adaptation of new brands in the market.
The focus was on attracting foreign investment through residence permit programs.
The experts also emphasized the importance of integrating digital technologies into investment strategies. They noted that digitalization is not the future, but already today, and plays a key role in accelerating investment processes and increasing transparency.
At the pitch session “IT-PARK Uzbekistan: new perspectives of development”, plans to turn Uzbekistan into a regional center of information technologies by 2030 were presented.
Sherzod Shermatov, Minister of Digital Technologies of Uzbekistan, spoke about the significance of recent investments. “Yesterday we witnessed an important event – the start of construction of the $5 billion Data Volt green data center, which is a major foreign direct investment project. We are creating a favorable environment for IT companies and launching the “Zero Risk” program to cover all risks associated with opening and running offices in Uzbekistan,” he said.
At the round-table “Connectivity: revitalization of the Great Silk Road”, international experts and representatives of government agencies explored opportunities to expand ties, economic cooperation and cultural exchange along the ancient routes of the Silk Road.
At the round-table “Integrated urban planning: quality investments, environment and comfort for people”, leading urbanists, architects and representatives of the business community discussed approaches to the development of the city of Tashkent. In particular, BCG Managing Director and Senior Partner Vladislav Boutenko emphasized the importance of integrating innovative solutions into urban planning to achieve sustainable urban development. He emphasized that both economic and social aspects should be taken into account in integrated planning, ensuring a balance between them.