Tashkent, Uzbekistan (UzDaily.com) — On 23 April, the Minister of Investments, Industry and Trade of Uzbekistan, Laziz Kudratov, took part in an international business forum held in the city of Jizzakh. The event was organized as part of President Shavkat Mirziyoyev’s initiative to actively promote regional investment opportunities.

The forum gathered top officials from ministries, industry associations, local authorities, and over 350 senior executives from major foreign companies representing more than 30 countries.

In his welcoming remarks, Kudratov highlighted the major reforms carried out in Uzbekistan over the past eight years. These include liberalization of the foreign exchange market, tax and customs system reforms, dismantling monopolies, reducing state presence in key economic sectors, and fostering a favorable environment for private entrepreneurship.

The impact of these reforms is already visible: last year, Uzbekistan attracted US$35 billion in foreign direct investment — a tenfold increase compared to 2017. The country’s GDP has been growing at a rate of over 6% annually. Exporters are increasingly integrating into global markets through mechanisms like the GSP+ preferential trade system, which allows duty-free access to over 6,200 types of products to the European market.

By 2030, Uzbekistan aims to become an upper-middle-income country, double its exports to US$45 billion, and increase GDP to US$200 billion.

Kudratov emphasized the importance of leveraging regional potential to fuel further national growth. He noted several factors contributing to the investment appeal of Jizzakh, including its strategic geographic location, land availability, expanding infrastructure, and skilled labor force.

Key sectors gaining momentum in the region include construction materials, textiles, agriculture, and tourism, making Jizzakh an attractive destination for long-term investment.

“Today’s forum is not just a meeting — it is a platform for action. I encourage each of you to make the most of this day. Most importantly, let it mark the beginning of long-term and successful partnerships,” Kudratov concluded.