Uzbekistan has unveiled a series of major economic and regional initiatives as more than 4,000 delegates from over 100 countries gather in Samarkand for the 59th Annual Meeting of the Asian Development Bank (ADB), held under the theme “Crossroads of Progress.”
Speaking at the opening session, President Shavkat Mirziyoyev highlighted the country’s economic transformation since 2016, noting that Uzbekistan has attracted more than $150 billion in foreign investment, while the size of its economy has nearly tripled to $147 billion.
The government aims to expand this figure to over $240 billion by 2030 and fully eradicate poverty.
He said reforms have already led to tangible social improvements, including a reduction in the poverty rate from almost 35% to 5.8%, alongside a significant expansion of energy capacity, with electricity production increasing by 1.5 times.
A central focus of the address was future-oriented growth, particularly in digitalisation and energy. More than 200 artificial intelligence projects are currently under development, alongside plans to establish a regional AI hub and expand data infrastructure.
Uzbekistan also aims to increase the share of renewable energy to 54% by 2030, building on large-scale solar and wind projects already under way.
Transport and logistics featured prominently, with particular attention to the China–Kyrgyzstan–Uzbekistan railway - a strategic regional project designed to connect East Asia with Central Asia and beyond.
The project, officially launched in December 2024, has an estimated investment value of around $4.7 billion, with financing finalised in 2025 through a combination of loans and joint contributions from participating countries.
Once completed, the railway is expected to carry up to 10–15 million tonnes of cargo annually and reduce transit times between Asia and Europe by up to 7–10 days, strengthening the region’s role as a key trade corridor.
ADB President Masato Kanda stressed that growing global uncertainty requires stronger cross-border cooperation, warning that fragmented approaches to development will not be effective.
He called for deeper regional integration in infrastructure, energy systems and digital networks to ensure long-term resilience and inclusive growth.
On the sidelines of the meeting, Uzbekistan and the Asian Development Bank agreed to implement a new co-operation programme worth $12.5 billion through to 2030, focusing on infrastructure, private sector development, education and poverty reduction.
This builds on the existing ADB portfolio in Uzbekistan, which already totals nearly $16 billion, reinforcing the country’s position as one of the Bank’s largest partners in the region.
As discussions continue in Samarkand, the forum is expected to shape new approaches to regional co-operation and investment at a time of increasing global economic uncertainty.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 24th July, covering the latest developments you need to know.
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Azerbaijan’s Milli Majlis has condemned discussion of Bill H.R. 9087 by the U.S. House Foreign Affairs Committee, rejecting what it described as unfounded accusations against Baku and warning the measure could undermine efforts to advance the Azerbaijan-Armenia peace process.
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