Once an isolated Soviet outpost, Uzbekistan is drawing record foreign investment from China, the Gulf and the West as President Shavkat Mirziyoyev’s reforms open markets, double the economy and position Tashkent as a rising regional financial hub
“In 2019, investors literally asked us where Uzbekistan was on the map. Today, many of them come to Tashkent asking a very different question: when is the next issuance?” said Jasur Karshibaev, an adviser to the minister of economy and finance, describing the country’s dramatic transformation.
Historically a key stop along the ancient Silk Road and later a peripheral Soviet republic, Uzbekistan is now experiencing a resurgence, attracting unprecedented levels of foreign investment. As sanctions isolate neighboring Russia over its war in Ukraine, Uzbekistan’s economy is gaining momentum, with President Shavkat Mirziyoyev aiming to double its size by 2030.