‘Photoreport from Day 1 of the 2024 International Investment Forum in Tashkent’

The third Tashkent International Investment Forum (TIIF 2024) kicked off with an exciting plenary session on May 2nd. In a world where investments in developing countries saw a significant 9% decline in 2023, President Mirziyoyev highlighted the critical need for global cooperation to address these challenges.

President Mirziyoyev also took the opportunity to showcase Uzbekistan’s remarkable economic progress. The nation’s economy has doubled in recent years, with a noteworthy 6% growth rate. With inflation at 9% and stable trade turnover on the rise, Uzbekistan has attracted over billion in foreign investments, along with an additional billion from international financial institutions for essential social and infrastructure projects.

Furthermore, President Mirziyoyev revealed substantial reforms aimed at making Uzbekistan more appealing to foreign investors. The term of land lease for foreign investors has been extended to 49 years, while maintaining existing benefits and preferences.

During the forum, Asakabank, a prominent financial institution in Uzbekistan, agreed to undergo privatization in partnership with the European Bank for Reconstruction and Development (EBRD).

With over 2,500 guests from 93 countries in attendance, the third Tashkent International Investment Forum underlines Uzbekistan’s dedication to fostering bilateral and multilateral cooperation. The forum featured a distinguished group of global leaders, including representatives from the UN, Kyrgyzstan, Turkey, Saudi Arabia, Singapore, the European Reconstruction and Development Bank, and OPEC. The session was skillfully moderated by CNN journalist Richard Quest.

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