Tashkent plans to triple investment inflows to $10 billion

As it was previously reported, on March 4, President Shavkat Mirziyoyev reviewed a report on poverty reduction, employment, investment, and export performance.

In an interview with the Uzbekistan24 television channel, Tashkent’s mayor, Shavkat Umurzakov, stated that by the end of 2025, the capital aims to create 1.5 million jobs with the support of commercial banks.

“The second priority is investment. We have committed to attracting $10 billion in capital to the city. This is a significant sum, considering that in 2024, this figure stood at $3 billion, and in 2023, it was even lower,” Umurzakov said.

According to the presentation, in the first half of the year, Tashkent expects to attract $2.9 billion in investments, of which $2.8 billion will come from foreign sources. In the second half, the projected inflow is $3.9 billion, with foreign investments accounting for $3.8 billion. By the end of 2025, the total volume of attracted capital investments is set to reach $6.8 billion, with $6.6 billion from foreign investors.

Furthermore, 582 projects worth $2.5 billion are scheduled to be launched this year, generating approximately 27,500 jobs. The service sector will account for 488 projects with a total investment of $2.1 billion, while the industrial sector will see 94 projects worth $428 million.

The president was also briefed on planned projects in construction, services, and manufacturing, as well as the challenges hindering their implementation. In particular, Umurzakov highlighted “two key issues in the industrial sector,” for which the president has issued relevant directives.

Expressing confidence in a systematic approach, Umurzakov stated that these measures would help streamline the process of attracting $10 billion in investments to Tashkent. He also noted that the capital’s export volume is expected to increase to $4.8 billion this year.