Creating and expanding growth opportunities in Uzbekistan

Uzbekistan is a country transformed. Over the last five years, a sweeping reform program has liberalized the national economy and spurred a period of unprecedented growth. From the establishment of an independent energy regulator to major privatization projects in strategic sectors from chemicals to banking, Uzbekistan’s economic re-structuring is attracting investors from around the world.

What’s more, a burgeoning tech industry is testament to the ingenuity and entrepreneurialism of Uzbekistan’s young, STEM-educated population and its culture of innovation.

Once a key node on the fabled Silk Road, Uzbekistan is reclaiming its place at the heart of global trade.

From IT to green energy and tourism, the “New Uzbekistan: The Big Country With Big Opportunities” report offers foreign investors an overview of the country’s most vibrant sectors – both established and emerging.

The report captures the sentiment of Uzbekistan’s growing community of advocates, from the London Stock Exchange to the Asian Development Bank, Rothschild & Company, the EBRD, Franklin Templeton and British American Tobacco.

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Uzbekistan In Numbers

6%

Average annual GDP growth

5G

First country in CIS to introduce

$22.4 bln

Attracted foreign investments in 2023

60%

Under the age of 30

20.7 mln

Total labor force

$55.9 bln

Industrial production in 2023.

$39.0 bln

Total international reserves

6.8%

Unemployment rate

2x growth

in average monthly wages (us $) over past 5 years

+$70 billion

in FDI over the past 5 years

25%

growth in forign trade in 2023

6.4%

GDP growth in 9 months of 2024

1.9x

Industrial production increase in the last 5 years

$39.0 bln

Total international reserves

11%

Poverty rate declines from 17% in 2021 to 11% by the end of 2023

Doing business in Uzbekistan

Committed to economic and civic liberalisation, and boasting a young and highly educated population, Uzbekistan is seizing its growth moment. Businesses from around the world are investing in a country in which government, regulator, workforce and local community are aligned. Whether you’re pioneering wind and solar energy generation or developing groundbreaking digital and financial technologies, the New Uzbekistan wants to be your partner!

Investment map of Uzbekistan

Views from the market

News and Insights