Plans are underway to attract up to $200 billion in investment to New Tashkent

During a visit to New Tashkent today, Shavkat Mirziyoyev met with investors and entrepreneurs to discuss accelerating construction work and increasing private investment in the city.

It was noted that over $2 billion has been invested in New Tashkent since the project's inception. The first phase of the city—which covers a total area of ​​20,000 hectares—envisages the implementation of projects worth $50 billion across a 6,000-hectare area. Combined with the new airport, the area's investment potential could reach up to $200 billion.

The Head of State emphasized that the pace of private sector engagement does not match the available opportunities. To date, only 94 hectares of land have been allocated to entrepreneurs, and active construction has not yet begun on the 28 lots assigned to investors. Protracted permitting processes, excessive requirements, and operational issues within certain agencies were cited as reasons for this situation.

The President stressed the need to transform New Tashkent into an independent economic hub—featuring not only residential areas but also developed sectors for business, education, healthcare, tourism, and services. In this regard, a task was set to review the entire process—from land allocation for entrepreneurs to the launch of projects.

It was reported that while the average cost of one hectare of land in New Tashkent was under 10 billion soums in 2024, it has now risen to 19 billion soums. Plans are in place to commission 20,000 housing units in the city by the end of the year, which will provide new homes for at least 70,000 people.

Additionally, a 55,000-seat stadium meeting FIFA standards is under construction in the city. It will serve as one of the main venues for the U-20 World Cup next year. Instructions were issued to create the necessary conditions for entrepreneurs to develop hotels, restaurants, and entertainment facilities around the stadium.

Work on locating government agencies in New Tashkent is also underway; nine buildings are being constructed to accommodate 2,600 employees from various ministries and agencies. The Prime Minister was instructed to initiate the relocation of the remaining ministries and state organizations to the new city.

During the visit, the President will also participate in ceremonies to commission several facilities and launch the construction of new projects in the New Tashkent area.