BAKU, Azerbaijan, June 13. The 4th Tashkent International Investment Forum was held in the capital of Uzbekistan from June 10 through June 12, 2025, confirming the country's status as one of the most attractive destinations for long-term investments in the Eurasian region, Trend reports.
The scale of the event speaks for itself: more than 8,000 participants, over 3,000 foreign representatives of businesses, investment groups, and international organizations, 36 thematic sessions, and dozens of agreements totaling $30.5 billion.
The forum served not just as a business platform but as a true instrument for building sustainable partnerships. Uzbekistan is demonstrating that it is not only ready to participate in regional projects but also to play a leading role in them.
Since the first forum in 2022, Uzbekistan has signed 357 investment agreements worth $44 billion. However, this year’s forum set an all-time record for agreements signed — $30.5 billion in just three days. These are no longer isolated successes but a stable trend, reflecting growing interest and increasing confidence from global businesses.
Investors are increasingly viewing Uzbekistan not as an exotic market with uncertain prospects, but as a stable and predictable platform for scalable cooperation.
A significant portion of the signed agreements focused on energy, infrastructure, and industry. The most discussed project was the $5 billion Sea Breeze Uzbekistan resort development, being implemented jointly with Agalarov Development. Despite concerns about the current infrastructure readiness of the region, the vision is ambitious: to transform the Tashkent region into a symbol of economic modernization and a new tourism hub of Eurasia.
Agreements in the energy sector appear more pragmatic: the construction of a 1,400 MW thermal power plant, the launch of solar power plants in the Namangan and Fergana regions, and new memoranda on the development of gas-based generation with the participation of international companies. The Japan Bank for International Cooperation (JBIC) expressed its readiness to participate in the construction of solar and wind power plants in the Samarkand and Karakalpakstan regions, as well as a multidisciplinary 800-bed hospital in Samarkand (jointly with Sojitz, $250 million). JBIC’s total investment portfolio in Uzbekistan has already reached $3.7 billion.
Special attention was given to agreements with the Islamic Corporation for the Development of the Private Sector (ICD) and the OPEC Fund for International Development (OFID). A memorandum worth $500 million was signed for the 2025–2030 period to support the private sector, including small and medium-sized enterprises. Sixteen projects totaling $375 million have already been implemented, with eight more currently in progress.
A separate track of negotiations involved Afghanistan’s Minister of Industry and Trade, Nooruddin Azizi. A Preferential Trade Agreement and a Cooperation Program in Trade, Economic, and Industrial Spheres for 2025–2026 were signed. Uzbekistan and Afghanistan outlined priority areas in trade, transportation, agriculture, and logistics, laying the groundwork for active economic engagement.
One of the forum’s key themes was deepening economic cooperation between Uzbekistan and Azerbaijan. Over the past year, the number of joint ventures has increased fivefold — more than 500 companies with Azerbaijani capital are now registered in Uzbekistan. On the sidelines of the forum, projects in logistics, transportation, green energy, and industry were discussed, as well as strategies for entering European and Middle Eastern markets through the Middle Corridor.
The foundation of this cooperation is being strengthened through a joint investment fund worth $500 million, which has already selected 12 concrete projects. According to Azerbaijan’s First Deputy Minister of Economy Elnur Aliyev, an intergovernmental commission meeting — the key mechanism for coordinating bilateral interaction — will be held next week. In addition, Azerbaijan will open a trade office in Uzbekistan — its sixth globally.
At the panel session “Azerbaijan – Uzbekistan: A Vector of Economic Partnership,” Nazim Gadzhiev, Director of the Azerbaijan-Uzbekistan Investment Company, stated that the company has reviewed over 100 investment projects, with more than 15 currently in active development. The focus is on minority investments in operating enterprises with high growth potential, particularly in industry and educational infrastructure.
A symbol of growing trust was the participation of Azerbaijan's Agalarov Development in the forum’s largest project — the $5 billion Sea Breeze Uzbekistan resort. As noted above, this initiative reflects a shift toward joint ventures of a new scale.
The 4th Tashkent Forum was a landmark event that demonstrated the transformation of Uzbekistan’s investment climate and the country’s growing role in the regional and global economy.
The power plant construction projects, especially in renewable energy (solar and wind), reflect a global shift toward green development and provide Uzbekistan with a technological upgrade in the energy sector. Investments from JBIC and international companies signal confidence in the country’s stability and market prospects. These projects are expected to reduce Uzbekistan’s energy dependency and increase its export potential.
Joint programs with ICD and OFID reflect a systemic approach to private sector development, which will boost entrepreneurship, diversify the economy, and promote more equitable income distribution.
Preferential trade agreements with Afghanistan and expanding economic ties with Azerbaijan demonstrate Uzbekistan’s strategy to position itself as a regional economic hub. The creation of joint ventures and investment funds minimizes risks and maximizes partnership synergy.
Emphasis on educational infrastructure and industrial modernization addresses the country’s need for skilled labor and competitive production. Minority investments in existing businesses reduce risks for investors while accelerating growth and innovation.
In such way, Uzbekistan is making it clear: the country is no longer catching up — it is setting the pace. Whereas attention was previously focused on the number of contracts signed, the focus is now increasingly shifting to the quality and implementation of projects. Signed agreements are commitments — but real transformation will begin when there is accountability: what has been built, how many jobs have been created, how much tax revenue has been generated, and what has been produced and exported.
While many of the current agreements are still at a framework stage, their effectiveness will become evident in 2–3 years. One thing is certain: the forum is working, interest in Uzbekistan is growing, the country is changing — and this is no longer a temporary spike, but a sustainable direction of progress.