Number of mines to be auctioned in Uzbekistan to be increased fourfold

Number of mines to be auctioned in Uzbekistan to be increased fourfold

At the Tashkent International Investment Forum, Shavkat Mirziyoyev spoke about the priority areas for attracting investments and presented large-scale projects aimed at creating high added value. According to the President, Uzbekistan is rich in reserves of gold, copper, uranium, tungsten, gas and other strategic raw materials, the total value of subsoil resources is estimated at about $3 trillion.

In order to effectively use this potential, an open digital geological database will be created, and the number of mines to be auctioned will be increased fourfold. Foreign investors will also be actively involved in the implementation of projects “from mining to finished products” in the “Future Metals” technoparks being created in Tashkent and Samarkand. It was also proposed to jointly implement investment projects worth a total of $20 billion in such driver industries as mechanical engineering, robotics, light industry, building materials, electrical engineering and pharmaceuticals.

In addition, the development of artificial intelligence technologies is expected to create at least $10 billion in added value in Uzbekistan over the next five years. In particular, it was announced that a special zone for artificial intelligence projects and data centers has been established in Karakalpakstan. According to it, investors in this region will be exempted from all types of taxes and customs duties until 2040, the necessary infrastructure will be built at state expense, and preferential tariffs for electricity will be introduced.