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 the AnewZ Morning Brief. Here are the top stories for the 4th of May, covering the latest developments you need to know.
A tanker reported being hit by unknown projectiles in the Strait of Hormuz, a maritime security organisation said on Monday, shortly after President Donald Trump said the U.S. would start helping free ships stranded in the Gulf by the U.S.-Israeli war on Iran.
Ukraine is monitoring “unusual activity” along its border with Belarus, President Volodymyr Zelenskyy said in a video statement released on Saturday (2 May). He warned that Kyiv is ready to respond if necessary amid continued regional tensions linked to Russia’s war.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
U.S. President Donald Trump has said he will “soon be reviewing” a new 14-point proposal sent by Iran, casting doubt on the chances of a deal after Tehran called for security guarantees, an end to naval blockades and a halt to the war across the region, including in Lebanon.
Malian authorities have launched an investigation into suspected soldiers accused of involvement in coordinated attacks on military bases carried out by militants linked to al Qaeda and separatist Tuareg rebels on 25 April 2026.
Ukraine has launched a new wave of drone strikes on Sunday (3 May) across Russia, hitting key infrastructure and causing casualties in several regions, officials on both sides said.
Turkish President Recep Tayyip Erdoğan has urged Iraq’s prime minister-designate to form a government which reflects the country’s religious and ethnic diversity.
Minval Politika has released a third set of footage it says shows former International Criminal Court prosecutor Luis Moreno Ocampo discussing the use of artificial intelligence in a project linked to Armenia and ‘Nagorno-Karabakh’.
Samarkand is hosting the 59th Annual Meeting of the Asian Development Bank (ADB), where global leaders have gathered to discuss regional growth, as the bank unveils a major $70 billion initiative to strengthen energy and digital connectivity across Asia and the Pacific.
Israel has approved a major defence deal to purchase new squadrons of advanced fighter jets from U.S. manufacturers Lockheed Martin and Boeing, the country’s defence ministry said on Sunday (3 May).
Nobel Peace Prize laureate Narges Mohammadi has been taken to hospital in Iran after what her family described as a “catastrophic deterioration” in her health, including a severe cardiac crisis.
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