Uzbekistan Sets GDP Goal of $200 Billion by 2030
Korea Herald reporter TASHKENT, Uzbekistan– Uzbekistan’s President Shavkat Mirziyoyev on Tuesday set out a roadmap to raise the country’s GDP to $200 billion by 2030. With an emphasis on structural reforms, digital improvement, and a sustainable energy transition, the fourth edition of the Tashkent International Investment Online forum was held to go over Central Asia’s growing appeal based upon a modernization strategy centered on technological development. The forum drew about 7,500 delegates.
Uzbek leader envisions development driven by economic stability, digital development, green energy Korea Herald correspondent TASHKENT, Uzbekistan– Uzbekistan’s President Shavkat Mirziyoyev on Tuesday set out a roadmap to raise the country’s GDP to $200 billion by 2030. With an emphasis on structural reforms, digital improvement, and a sustainable energy transition, the 4th edition of the Tashkent International Financial investment Forum was held to go over Central Asia’s growing appeal based on a modernization technique centered on technological innovation. The online forum drew about 7,500 delegates and over 3,000 global visitors from 100 nations, according to the organizers. “Our GDP has doubled over the past 8 years. We have now set an objective to increase it to $200 billion by 2030,” President Mirziyoyev stated in his speech, underscoring financial reforms, green energy, and logistics infrastructure as pillars of growth. “In transitioning to a green economy, almost $6 billion in foreign direct financial investment has actually been attracted in a brief span,” he stated, noting that electricity production has increased from 59 billion kilowatt-hours to 82 billion kilowatt-hours and will surpass 120 billion in the next five years. “The share of green energy will rise to 54 percent,” he included. According to the Asian Development Bank’s outlook for April 2025, Uzbekistan’s GDP is expected to reach 6.7 percent growth in 2026. The World Bank forecasts 5.8 percent development for Uzbekistan in 2025 and 5.9 percent in 2026– among the highest rates in Europe and Central Asia. The forecasts line up with Uzbekistan’s 2030 National Development Strategy to achieve upper-middle-income status by 2030. The president announced a $4 billion financial investment to upgrade the national power grid and the launch of a “Green Uzbekistan” climate financial investment platform, marking the country’s entry into the international carbon market this year. He highlighted the rise of Uzbekistan’s digital economy, keeping in mind that IT exports will reach $1 billion this year, with the goal of quintupling that figure by 2030. “Last year, two local startups went beyond $1 billion in capitalization. We are committed to increasing the number of such unicorns,” Mirziyoyev stated, referring to propositions to develop 20 information centers in the next five years and launch a national cloud platform in 2026. Uzbekistan will develop a financial stability council and enhance cybersecurity and fintech, Mirziyoyev stated. He said that “Metals of the Future” tech parks will use 10-year tax breaks to firms that relocate to harness the country’s approximated $3 trillion in mineral wealth. A brand-new “nationwide regime” will guarantee equivalent treatment for foreign investors, using structured services and safeguards, according to the president. “These procedures aim to raise Uzbekistan’s credit score to ‘investment grade’ by 2030,” described Mirziyoyev, highlighting that 29 state-owned enterprises will be privatized over the next two years with international consultancy support. Uzbekistan’s reform momentum is currently being acknowledged globally. S&P Global upgraded its credit outlook to “positive,” and development forecasts remain among the highest in the region: 6.7 percent by 2026 (ADB) and 5.9 percent by 2026 (World Bank). “We have actually enhanced by 48 positions in the Index of Economic Liberty, and by 28 positions in Harvard’s Economic Complexity Index,” Mirziyoyev kept in mind. “All doors are open to you in our nation. We have an open state and hardworking people prepared for cooperation– and laws that safeguard your activity.” “Do come to Uzbekistan– this is the very best time and the very best market. Uzbekistan holds a great deal of guarantee for investors.” Elena Kid, executive director of the American-Uzbekistan Chamber of Commerce, told The Korea Herald: “This is a federal government that supports reform, wishes to find out and listen from investors. We, as American companies, completely support these reforms.” Child, as an ethnic Korean, stated she also welcomes Korean financiers. “Korea and Uzbekistan share deep cultural ties, and Korea’s developmental experience provides lots of lessons Uzbekistan can take advantage of.” “I do not see numerous chances in Central Asia– but I see them in Uzbekistan,” stated Jim Rogers, chairman of Beeland Interests, Inc. Responding to a question from The Korea Herald, Rogers said that Korea and Uzbekistan have histories of engaging effectively with the remainder of the world. “You Koreans require to find the clever business and people in Uzbekistan,” stated Rogers, recommending that Korean financiers connect with those in the country who are ready to engage worldwide. “Somebody’s doing something right here (in Uzbekistan),” stated Rogers in a session with journalist Richard Quest from CNN. “The world is divided in between those who accomplish things and those who merely claim to. Let us remain in the first group– together,” said Slovak Prime Minister Robert Fico, applauding Uzbekistan’s reform efforts. Bulgarian President Rumen Radev likewise verified that Uzbekistan plays a crucial role regionally and worldwide. “We’re all set to help in developing its energy sectors and leveraging its natural resources properly,” stated Radev.
Uzbek leader visualizes growth driven by economic stability, digital development, green energy Korea Herald reporter TASHKENT, Uzbekistan– Uzbekistan’s President Shavkat Mirziyoyev on Tuesday laid out a roadmap to raise the country’s GDP to $200 billion by 2030. Uzbekistan will produce a monetary stability council and enhance cybersecurity and fintech, Mirziyoyev stated. Reacting to a concern from The Korea Herald, Rogers said that Korea and Uzbekistan have histories of engaging effectively with the rest of the world. “You Koreans require to discover the smart companies and individuals in Uzbekistan,” stated Rogers, suggesting that Korean investors link with those in the country who are all set to engage worldwide. Let us be in the very first group– together,” said Slovak Prime Minister Robert Fico, applauding Uzbekistan’s reform efforts.
