Uzbek President Highlights Economic Transformation, AI Push and Green Energy Vision at ADB Annual Meeting

Tashkent: Uzbekistan President Shavkat Mirziyoyev, addressing the 59th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB), outlined his country’s rapid economic transformation, ambitious reform agenda, and long-term development vision, while calling for deeper regional and global cooperation.

Welcoming delegates to what he described as a historic forum, President Mirziyoyev highlighted Uzbekistan’s strategic location at the crossroads of the ancient Silk Road and its growing role as a platform for global dialogue on economic and development challenges.

He said that since 2016, Uzbekistan has undertaken sweeping economic reforms aimed at liberalisation, improving the investment climate, integrating into global value chains, and raising living standards. He noted that the country has attracted around $150 billion in foreign investment, launched thousands of new enterprises, and significantly expanded its energy production capacity.

According to the President, Uzbekistan’s economy has grown from $50 billion to $147 billion in recent years, while exports have tripled. He also pointed out improvements in sovereign credit ratings and progress in global economic freedom rankings, alongside strong GDP growth of 8.7% in the first quarter of the year.

He emphasised that reforms have focused on social welfare, claiming that 8.5 million people have seen improved incomes and poverty has declined from nearly 35% to 5.8%. Uzbekistan, he said, aims to become an upper-middle-income country and eliminate poverty by 2030, targeting an economy of over $240 billion.

Mirziyoyev highlighted strengthened cooperation with international financial institutions, especially the ADB, with joint projects worth around $16 billion already underway. He also announced a new $12 billion cooperation programme with the Bank.

A major focus of his address was digital transformation and artificial intelligence. He said Uzbekistan is developing over 200 AI projects, building data centres and laboratories, and training millions of AI specialists. He proposed a special ADB-backed programme to scale AI adoption in developing countries and suggested establishing a regional coordination centre for the “Digital Highway for Asia” initiative in Tashkent.

On energy, the President stressed growing global demand driven by digital technologies and said Uzbekistan is expanding renewable energy capacity, including wind and solar projects totalling 5,600 MW. He said the country aims to increase the share of green energy to 54% by 2030 and is working with ADB on a Central Asia–Europe green energy corridor.

He also addressed transport and logistics challenges, citing rising freight costs due to global instability, and proposed a “Digital Customs and Logistics Alliance” to streamline regional trade under the CAREC framework.

On natural resources, Mirziyoyev highlighted Uzbekistan’s reserves of critical minerals and proposed cooperation with ADB on value-added processing and industrial development under a “From Critical Minerals to Manufacturing” initiative.

Climate change and environmental degradation were also central themes. He outlined Uzbekistan’s reforestation efforts, including planting millions of trees annually and restoring green cover in the Aral Sea region. He proposed a regional “Central Asia Green Belt” project in collaboration with ADB.

Tourism was another key pillar, with Mirziyoyev proposing a “Central Asia Tourism Ring” to promote cultural, religious, and medical tourism across the region, supported by joint financing mechanisms.

Concluding his address, the President reaffirmed Uzbekistan’s readiness to expand cooperation with ADB through public-private partnerships, blended finance, and innovative investment platforms, while inviting global partners to engage in New Uzbekistan’s development journey.