Uzbekistan courts global investors with AI tax breaks, duty-free zones & mining sector reforms

Welcoming the heads of state and government, representatives of international financial institutions, major companies and investment funds and business leaders, Mirziyoyev said, “We are always open to investors interested in cooperation with Uzbekistan and ready to build equal and mutually beneficial partnership. The participation of nearly 4000 foreign guests from more than 100 countries in this year’s forum is a clear indication of the growing international recognition and prestige of the Tashkent International Investment Forum.”

Promising more reforms to attract the foreign investors, Mirziyoyev announced tax free zones for the investors.

“We have created a special zone for artificial intelligence projects and data centres in Karakalpakstan. In this territory, until 2040, investors will be exempt from all types of taxes and duties; road, electricity, and water infrastructure will be financed by the state; a preferential electricity tariff of 5 cents per kilowatt-hour will be applied,” he said.

He also announced that his country will attract foreign investment in rare mineral mining through its new initiative– “Metals of the Future” technoparks. “As you are well aware, Uzbekistan is rich in natural resources, including gold, copper, uranium, tungsten, natural gas, and other rare minerals. The total value of our subsoil wealth, strategic raw materials, is estimated at $3 trillion,” Mirziyoyev said.

“In order to provide opportunities in this sector to foreign investors we will create an open digital database of geological data and increase by four times the number of deposits put up for auction. To implement projects from “mining to finished products,” we will extensively attract foreign investment into the “Metals of the Future” technoparks, which are being established in Tashkent and Samarkand regions,” he said.

Discussing the success of the TIIF initiative, Mirziyoyev said, “Our joint efforts within the framework of this forum are laying a solid foundation for achieving ambitious and far-reaching goals. The outcomes speak for themselves. Over the past years Uzbekistan has attracted more than $150 billion in foreign investment, of which $123 billion has been secured in the last five years alone.”

Listing the development of regional transport and logistics connectivity as one of the priorities of his government, Mirziyoyev said, “Specifically, in cooperation with China and Kyrgyzstan, we are rapidly continuing the construction of a strategic railway.”

“We are also actively working on the Trans-Afghan Corridor project, which will provide direct access to southern seaports. Furthermore, we are developing the Middle Corridor transport route, which runs through the Caspian Sea. By the full implementation of these projects, we will join the network of transport arteries connecting Asia and Europe,” he said.

During the opening ceremony of the TIIF, President of Albania Bajram Begaj, Chairman of the Government of the Russian Federation Mikhail Mishustin, Belarus Prime Minister Aleksandr Turchin, Azerbaijan Prime Minister Ali Asadov, Kazakhstan Prime Minister Olzhas Bektenov, Tajikistan Prime Minister Kokhir Rasulzoda, and Chairman of the Cabinet of Ministers of the Kyrgyzstan Adylbek Kasymaliev were present.

Uzbekistan is among the five central Asian countries with which India had expressed interest in joint exploration of rare earths and critical minerals in a pact in June 2025. The announcement came amid concern over China’s move to limit the exports of rare earth alloys and magnets.

(The writer is in Tashkent on the Invitation of the Government of Uzbekistan)