Ukrainian Businesses Expand Investments in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — A meeting was held at the Embassy of Uzbekistan in Kyiv with representatives of leading Ukrainian companies to discuss prospects for expanding investment and strengthening economic cooperation between the two countries, according to the news agency “Dunyo.”

The event brought together executives and top managers from more than 60 Ukrainian companies, including MEGOGO, MTI Group, UNIT.City, MHP, Uklon, Biosphere, Darnytsia, and Idea Bank, all of which are among Ukraine’s largest businesses according to Forbes.

Uzbek Ambassador to Ukraine Alisher Kurmanov presented information on the country’s investment potential, existing support measures for foreign investors, and Uzbekistan’s transport and logistics capabilities.

According to the report, Ukrainian businesses showed strong interest in Uzbekistan’s ongoing economic reforms, tax and institutional incentives for investors, as well as developments in information technology and industry sectors.

Companies already operating in Uzbekistan expressed intentions to expand their presence. Representatives of MEGOGO, pharmaceutical company Yuria-Pharm, ride-hailing service Uklon, and IT company Sigma Software confirmed their interest in increasing investment and developing projects in the country.

Uklon CEO Serhiy Hryshkov stated that the company has already invested more than US$10 million in its business development in Tashkent. He noted that population growth, rising foreign investment inflows, and a developing fintech infrastructure make Uzbekistan one of the most promising long-term markets.

The pharmaceutical sector also sees Uzbekistan as a strategic direction. Sona Pharma Director Denys Golubchykov said the company plans to introduce a line of innovative ophthalmic drugs to the Uzbek market starting in January 2027.

A representative of Darnytsia, Gurgen Karapetyan, noted that Uzbekistan remains a key market for the company. Despite regulatory challenges, registration is underway for 27 product names to enter the market.

At the end of the meeting, Ukrainian entrepreneurs were invited to participate in the 5th Tashkent International Investment Forum scheduled for June 16–18. Participants proposed initiatives to deepen bilateral economic cooperation, while the Uzbek side expressed readiness to support investment projects and facilitate direct engagement with relevant institutions.