Foreign leaders, investors, business executives and international financial institutions gathered in Uzbekistan’s capital as the fifth Tashkent International Investment Forum (TIIF) began with a week of investment discussions, business meetings and economic diplomacy.
Discussions on the opening day focused on issues ranging from investment and infrastructure to technology, artificial intelligence and access to capital.
The forum is taking place during a broader week of diplomatic activity in Tashkent. German President Frank-Walter Steinmeier is expected to arrive on Wednesday for an official visit focused on trade, industrial cooperation, green technologies, transport and logistics.
Alongside the forum programme, President Shavkat Mirziyoyev held a series of bilateral meetings with visiting leaders and business delegations.
Albania highlights European connectivity
Among the most notable meetings was the first summit between Uzbekistan and Albania.
President Mirziyoyev and Albanian President Bajram Begaj discussed expanding cooperation in trade, investment, green energy, digital technologies, tourism and agriculture.
Particular attention was given to the possible use of Albania’s Port of Durrës as a logistics hub for Uzbek exports destined for Southern Europe and Mediterranean markets.
The two sides also agreed to establish an intergovernmental commission aimed at advancing economic and investment cooperation.
US business presence grows
A key event on the opening day was the American-Uzbek Business Forum.
“Today, 193 American companies are represented at the Tashkent International Investment Forum,” Investment Minister Laziz Kudratov told participants. “This signals that American business views Uzbekistan not only as a market but also as a long-term investment partner.”
The gathering followed a roundtable chaired by President Shavkat Mirziyoyev with senior executives from major American companies and financial institutions, including Boeing, Visa, JP Morgan, Meta, Air Products and Franklin Templeton.
Discussions focused on projects involving critical minerals, energy, artificial intelligence, digital technologies and industrial development.
Separate meetings with the US Export-Import Bank and the US International Development Finance Corporation examined financing for infrastructure, energy modernisation and technology projects, including data centres and logistics facilities.
The meetings concluded with the exchange of cooperation agreements between Uzbek and American partners.
Themes shaping investment decisions
Beyond the bilateral meetings and business roundtables, the forum’s opening day highlighted many of the issues currently shaping investment decisions in international markets.
Several sessions focused on how countries can attract long-term private capital, improve corporate governance and strengthen investor confidence. Participants discussed the role of political risk, blended finance and export credit agencies in mobilising investment for large-scale infrastructure and industrial projects.
Other discussions examined the future of special economic zones, responsible business standards and the growing importance of environmental, social and governance principles in attracting international investors. Speakers argued that access to capital increasingly depends not only on growth prospects, but also on transparency, accountability and predictable regulation.
The programme also reflected broader economic trends. Sessions explored the expansion of Islamic finance, the competition between cities for investment and talent, and the role of women-owned businesses in driving economic growth. Participants noted that women account for nearly 40% of entrepreneurs in Uzbekistan but receive only 14% of total lending, highlighting one of the financing gaps discussed during the forum.
AI ambitions and investment priorities
Many of the same themes raised during bilateral meetings, including artificial intelligence, energy, infrastructure and access to capital, also featured prominently across the forum programme.
Speaking to Euronews, Digital Technologies Minister Sherzod Shermatov said Uzbekistan aims to combine expanding renewable energy capacity with investment in digital infrastructure and data centres.
_”_With AI, you need compute. For compute, you need energy,” he said.
“Instead of exporting energy as raw energy, we would like to export it in the form of AI data centre services.”
Similar themes emerged in discussions on technology, industrial development and the infrastructure needed to support future growth.
Capital markets were another recurring theme throughout the day.
“Investors are very keen to participate in the capital markets of the country,” Marius Dan, CEO for Central Asia at Franklin Templeton, told Euronews.
He said international investors were paying increasing attention to opportunities in Uzbekistan as the country continues its economic reforms.
Several participants argued that attracting long-term capital requires more than investment opportunities alone.
“There must be trust,” said Kanokpan Lao-Araya, Country Director for Uzbekistan at the Asian Development Bank.
She argued that investors continue to look for political stability, legal certainty and predictable business conditions when making long-term commitments.
The opening day largely served as a platform for discussions and networking ahead of Wednesday’s plenary session, where President Mirziyoyev is expected to outline the government’s economic priorities.
The coming days will provide a clearer indication of whether those discussions lead to investment agreements and new business projects.