Uzbekistan Sees 60% Foreign Investment Growth, Expands Industrial Cooperation with Slovakia

Uzbekistan is experiencing rapid growth in foreign investment, with a 60 percent increase in 2024 reaching $34.9 billion and projections of $42 billion for 2025, supported by reforms under the "Uzbekistan 2030" strategy aimed at improving the business climate. President Shavkat Mirziyoyev has strengthened strategic cooperation with Slovakia, focusing on expanding bilateral trade, eliminating technical barriers, and developing joint industrial programs in sectors like agriculture, pharmaceuticals, green energy, and tourism, along with digital innovation and startup investment. Meanwhile, the Uzbekistan-US Business Forum highlighted opportunities to deepen economic ties in green energy, healthcare, IT, fintech, and industrial production, reflecting growing trade volume between the two countries. Mirziyoyev also engaged with major foreign investors to advance large-scale infrastructure and industrial projects via public-private partnerships, targeting modernization of utilities, energy, transport, and real estate. The establishment of numerous special economic and industrial zones, alongside sovereign bond issuances and IPOs, further demonstrate Uzbekistan's commitment to attracting private capital and fostering sustainable economic growth. These developments collectively underscore Uzbekistan’s emergence as a dynamic investment destination with expanding international partnerships and ambitious developmental goals.