Uzbekistan secured $16 billion in foreign investments in February

On March 4, the president reviewed a report on poverty reduction, employment, and investment and export performance, highlighting that officials from more than 10 cities would be held accountable for their low investment attraction rates.

Jamshid Khodjaev Photo: Presidential press service

Deputy Prime Minister Jamshid Khodjaev stated in an interview with Uzbekistan 24 TV channel that Uzbekistan attracted and utilized over $3 billion in investments in February. Compared to the same period in 2024, the volume of attracted investments increased by 40%, which the deputy prime minister attributed to "growing trust from foreign partners."

Over the first two months of the year, 14 cities attracted more than $50 million in investments. However, in more than 10 cities, the figure was "significantly lower." The president instructed a thorough analysis of the reasons for this lag and called for holding local officials accountable for the shortcomings.

Khodjaev emphasized that all regions should be more proactive in attracting investments, engaging with international partners, and offering favorable conditions for businesses. According to him, in February, business leaders and regional officials made working visits to Malaysia, Indonesia, Kuwait, China, Georgia, Sweden, and other countries.

As a result of these visits, 178 promising agreements were signed, totaling over $12 billion.

Additionally, more than 40 foreign entrepreneurs from Saudi Arabia, China, France, Turkmenistan, Russia, Germany, Spain, South Korea, Italy, Japan, Vietnam, and other countries visited Uzbekistan. Following negotiations, 51 new investment agreements were signed, amounting to $3.8 billion.

Furthermore, the deputy prime minister stressed that, in addition to signing new agreements, attention is being given to implementing previously signed projects. In this regard, negotiations are ongoing with foreign trade and economic consultants, international investors, and entrepreneurs.

By the end of the first quarter, the government aims to attract and utilize $8 billion in investments. To achieve this, the process of securing credit lines from foreign banks is being accelerated, and mechanisms for cooperation with international financial institutions are being expanded.

To effectively attract investments, targeted business missions are being organized, and Uzbek companies are increasing their participation in international exhibitions. In March, efforts will focus on improving infrastructure, supporting entrepreneurs, and introducing modern technologies into the economy.

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