Tashkent, Uzbekistan (UzDaily.com) -- On the second day of the III Tashkent International Investment Forum, presentations were made on the investment potential of the regions of Uzbekistan. Representatives from various regions of the country took part in them to attract foreign investors.

Over the past six years, more than US$50 billion of foreign investment has been attracted to Uzbekistan. Its favorable geographical location, rich natural resources and large domestic market of 37 million people indicate enormous investment potential.

At the event, the necessary measures of government support for the successful implementation of investment projects in the regions were discussed, as well as factors influencing the effectiveness of creating a favorable investment climate.

The speakers especially noted that the government pays great attention to increasing the influx of foreign direct investment and creating optimal conditions for doing business throughout the country.

At the session, representatives of 6 regions - Kashkadarya, Samarkand, Tashkent, Syrdarya and Khorezm regions, as well as the Republic of Karakalpakstan, spoke in detail about the opportunities created in their territories for investors.

The presentation of the potential of the regions began with the deputy khokim of the Kashkadarya region Olimkhon Rustamov. He revealed the attractive aspects of the territory for investors.

“Kashkadarya is considered an area with a very advantageous geographical location. The region has a developed transport infrastructure, which is a huge advantage for business representatives, in particular investors. The urbanization level of the territory is 42%. And the coverage of the population in higher education has increased in recent years from 9% to 47%,” Rustamov said.

In 2023 alone, the region received US$704 million in foreign investment, Olimkhon Rustamov said; in 2024, the volume of attracted investments is planned to increase to US$1 billion. The bulk of foreign investment in 2023 will come from China - 330.3 million.

In addition, it was particularly noted that the population of Kashdarya is growing, with 100 thousand children born annually, followed by a great demand for construction projects. The region’s deputy khokim stated the need to build 20,000 houses annually, calling on investors to focus on this sector.

After this, the deputy khokim of Samarkand, Oybek Hamroev, making a presentation, noted that Samarkand has a rich history, many investors who want to invest in Uzbekistan know about Samarkand.

“The population of Samarkand exceeds 4.2 million people, and the region is ahead of the capital, Tashkent, in this indicator. The gross domestic product of the region, rich in mineral resources, has been growing in recent years at the same good pace as Uzbekistan as a whole,” he said.

The representative of the Republic of Karakalpakstan, Azamat Oteuliev, noted that this area is closest to the Western market, and listed opportunities for investors that do not exist in other parts of Uzbekistan:

“The Republic of Karakalpakstan is a completely free economic zone. This means that any project implemented in this area will have tax benefits. Also, complete infrastructure for investors will be provided here at the expense of the state budget. Not only for foreign trade relations, but also for Uzbekistan will be reimbursed up to 70% of transportation costs.”

At the end of the event, the speakers also noted that Uzbekistan is a country with a fast-growing economy and the time has come for investors to invest. It was mentioned that the country is becoming a land bridge between West and East, with the largest population in the region, with the government aiming to create an attractive environment for investors.