The fifth Tashkent International Investment Forum (TIIF) opened this week in Uzbekistan's capital, drawing foreign leaders, investors, and business executives for a series of discussions on infrastructure, technology, and long-term capital flows. The forum coincides with a broader diplomatic push by President Shavkat Mirziyoyev, who held bilateral meetings with visiting delegations alongside the main programme.
German President Frank-Walter Steinmeier is expected to arrive on Wednesday for an official visit focused on trade, industrial cooperation, green technologies, and transport logistics. His presence underscores Berlin's growing interest in Central Asia as a corridor for European connectivity and energy diversification.
Albania and Uzbekistan Eye Mediterranean Trade Route
One of the most notable bilateral meetings was the first-ever summit between Uzbekistan and Albania. President Mirziyoyev and Albanian President Bajram Begaj discussed expanding cooperation in trade, investment, green energy, digital technologies, tourism, and agriculture. Particular attention was given to the potential use of Albania's Port of Durrës as a logistics hub for Uzbek exports destined for Southern Europe and Mediterranean markets. The two sides also agreed to establish an intergovernmental commission to advance economic and investment cooperation.
This development fits into a wider pattern of European engagement with Central Asia, as EU member states seek alternative supply routes and energy partnerships. The Port of Durrës, located on the Adriatic coast, offers a shorter maritime link for Uzbek goods compared to traditional routes through the Baltic or Black Sea.
US Business Presence Expands
A key event on the opening day was the American-Uzbek Business Forum. Investment Minister Laziz Kudratov told participants that 193 American companies are now represented at the forum, signalling that US business views Uzbekistan not only as a market but as a long-term investment partner. The gathering followed a roundtable chaired by President Mirziyoyev with senior executives from major US companies, including Boeing, Visa, JP Morgan, Meta, Air Products, and Franklin Templeton.
Discussions focused on projects involving critical minerals, energy, artificial intelligence, digital technologies, and industrial development. Separate meetings with the US Export-Import Bank and the US International Development Finance Corporation examined financing for infrastructure, energy modernisation, and technology projects, including data centres and logistics facilities. The meetings concluded with the exchange of cooperation agreements between Uzbek and American partners.
This growing US corporate interest reflects a broader trend of Western engagement with Uzbekistan, which has pursued economic reforms since 2017. The country's strategic location and relatively young population make it attractive for investors seeking access to Central Asian markets.
Themes Shaping Investment Decisions
Beyond bilateral meetings, the forum's opening day highlighted issues currently shaping investment decisions in international markets. Several sessions focused on how countries can attract long-term private capital, improve corporate governance, and strengthen investor confidence. Participants discussed the role of political risk, blended finance, and export credit agencies in mobilising investment for large-scale infrastructure and industrial projects.
Other discussions examined the future of special economic zones, responsible business standards, and the growing importance of environmental, social, and governance (ESG) principles in attracting international investors. Speakers argued that access to capital increasingly depends not only on growth prospects but also on transparency, accountability, and predictable regulation.
The programme also reflected broader economic trends. Sessions explored the expansion of Islamic finance, the competition between cities for investment and talent, and the role of women-owned businesses in driving economic growth. Participants noted that women account for nearly 40% of entrepreneurs in Uzbekistan but receive only 14% of total lending, highlighting one of the financing gaps discussed during the forum.
AI Ambitions and Investment Priorities
Artificial intelligence, energy, infrastructure, and access to capital featured prominently across the forum programme. Speaking to Euronews, Digital Technologies Minister Sherzod Shermatov said Uzbekistan aims to combine expanding renewable energy capacity with investment in digital infrastructure and data centres. "With AI, you need compute. For compute, you need energy," he said. "Instead of exporting energy as raw energy, we would like to export it in the form of AI data centre services."
Capital markets were another recurring theme. Marius Dan, CEO for Central Asia at Franklin Templeton, told Euronews that international investors are paying increasing attention to opportunities in Uzbekistan as the country continues its economic reforms. Several participants argued that attracting long-term capital requires more than investment opportunities alone. "There must be trust," said Kanokpan Lao-Araya, Country Director for Uzbekistan at the Asian Development Bank. She argued that investors continue to look for political stability, legal certainty, and predictable business conditions.
The forum also touched on broader European connectivity, with discussions on transport corridors linking Central Asia to European markets. This aligns with the EU's Global Gateway strategy, which aims to mobilise up to €300 billion in investments for sustainable infrastructure worldwide. For a deeper look at Uzbekistan's investment portfolio, see Uzbekistan Unveils €75 Billion Investment Portfolio at Tashkent Forum.
As the forum continues, the focus remains on translating diplomatic momentum into concrete investment deals. With German and US engagement, and growing interest from European businesses, Uzbekistan is positioning itself as a key hub for connectivity between Asia and Europe.
