Uzbekistan and World Bank Discuss Investment Attraction and Economic Growth

Uzbekistan and the International Finance Corporation (IFC) held discussions on prospects for cooperation in the areas of infrastructure, energy, water resource management, and private sector development.

The meeting took place on October 15, 2026, in Bangkok, coinciding with the annual meetings of the International Monetary Fund and the World Bank. Participants included Jamshid Kuchkarov, Deputy Prime Minister and Minister of Economy and Finance of Uzbekistan, and Imad Fahuri, Regional Vice President of the IFC for the Middle East and Central Asia. The meeting was reported by the Information Service and the Department of Communications of the Ministry of Economy and Finance of Uzbekistan.

Lisa Kestner, IFC Head for Kazakhstan, Turkey, and Uzbekistan, Nodirbek Ochilov, Deputy Chairman of the Central Bank of Uzbekistan, Jasur Karshibayev, Advisor to the Minister of Economy and Finance, and other representatives also took part in the negotiations.

The parties reviewed the progress made in Uzbekistan's economic reforms, their results, and opportunities for expanding mutually beneficial cooperation. Special attention was paid to infrastructure development, support for private business, and the use of public-private partnership mechanisms.

Potential initiatives were outlined within the discussion, including the construction of a toll road between Tashkent and Andijan, modernization of electricity distribution systems and irrigation pumping stations, the introduction of public-private partnerships in water resource management, as well as the construction of general education schools in the regions.

Another focus of the talks was strengthening the role of the private sector and improving the conditions for doing business. Participants discussed the possibility of using IFC experience to develop the mortgage lending market, privatize state enterprises, and increase the effectiveness of state support for entrepreneurship.

At the conclusion of the meeting, the parties agreed to strengthen cooperation in the discussed areas and continue exchanging views. The report did not specify implementation timelines or estimated funding amounts.

The Ministry of Investment, Industry and Trade of Uzbekistan reported that Uzbekistan and the United Arab Emirates held discussions on expanding cooperation and implementing investment projects during meetings held in Abu Dhabi.

The Minister of Investment, Industry and Trade of Uzbekistan, Laziz Kudratov, participated in the Investopia Bridge 2026 forum and the UAE-Uzbekistan business round table titled 'Connecting Capital with Opportunities' on October 7 in Abu Dhabi.

During these events, the parties discussed opportunities to deepen interaction in several priority areas. These include energy, digital infrastructure and artificial intelligence, the financial sector, chemical industry, agriculture, tourism, transport and logistics, as well as development.

As part of his visit, Kudratov held a series of bilateral meetings with the UAE Minister of Economy and Tourism, Abdullah bin Tuk Al Marri, the Minister of Investment, Mohammed Hassan Al Suwaidi, and the Minister of Foreign Trade, Tani bin Ahmed Al Zeyoudi.

The head of the Ministry of Investment, Industry and Trade also spoke with leaders of major companies from the UAE. The parties reviewed prospects for further strengthening business ties and implementing planned projects.

Following the completion of the visit, further guidance was established for promoting projects involving state institutions, investment funds, and business representatives from Uzbekistan and the UAE.

The Minister of Investments, Industry and Trade of Uzbekistan, Laziz Kudratov, held a meeting with the Ambassador of Oman to Uzbekistan, Wafaa Jabr Nasir Al Busaidi, on October 6.

During the negotiations, the parties reviewed the current state of trade and economic ties between the countries, as well as prospects for their further development. Special attention was paid to accelerating the implementation of investment projects included in the bilateral portfolio.

The meeting also emphasized the importance of direct air connections for strengthening business contacts between the two states. Since July 4, Oman Air has been operating two regular direct flights per week on the Muscat – Tashkent route.

Following the discussions, the parties agreed to complete the preparations for the planned bilateral events in a timely manner and ensure the practical implementation of the agreements reached. Uzbekistan and Oman intend to continue systematic efforts to increase trade, economic, and investment interaction.