Mirziyoyev commends $74bn of foreign investment and IFI inflows as third Tashkent International Investment Forum kicks off

By Mokhi Sultanova in Tashkent May 2, 2024

The foreign investment inflow into Uzbekistan has topped $60bn in recent years, President Shavkat Mirziyoyev noted as the third Tashkent International Investment Forum (TIIF-2024) got under way.

Also pointing to $14bn received from international financial institutions (IFIs) for critical social and infrastructure development, Uzbekistan’s economic reform-minded leader buoyed the event’s expected 2,500 foreign guests from 93 countries with a series of positive indicators.

He said: "In recent years, our economy has grown by almost two times. According to last year's calculation [on GDP growth], the increase was around 6%. Inflation dropped to 9%.

“Trade turnover indicators are moderately increasing. The stability of the foreign exchange market and gold currency reserves is maintained.”

Those attending TIIF-2024 include Tatiana Molcean, Deputy Secretary-General of the United Nations; Akylbek Zhaparov, Chairman of the Cabinet of Ministers of Kyrgyzstan; Cevdet Yilmaz, Vice President of Turkey; Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia; Xia Kian Peng, Speaker of the Parliament of Singapore; Odile Renaud-Basso, president of the European Bank for Reconstruction and Development (EBRD); and Abdulhamid Al-Khalifa, president of OPEC International Development Fund.

CNN journalist Richard Quest is serving as a moderator.

Inaugurating TIIF-2024, Mirziyoyev, Uzbekistan’s president since late 2016, talked of the pivotal role the annual investment forum fulfils in helping to nurture bilateral and multilateral cooperation, tackle urgent global issues and foster innovative ideas and approaches.

He acknowledged current challenges of the global economic landscape, characterised by mounting risks and threats to sustainable development. Amidst dwindling global economic growth and faltering trends in foreign direct investment, Mirziyoyev stressed the necessity for collective action and mutual support among nations.

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