TASHKENT, May 18. /Dunyo IA/. Today, Tashkent hosted an interim meeting of the Foreign Investors Council under the President of Uzbekistan, reports Dunyo IA correspondent.

Today, this platform is increasingly strengthening its position as one of the most important institutional arenas ensuring an open and systematic dialogue between the Government and major international investors operating in our country.

Organized ahead of the IV plenary session of the Foreign Investors Council scheduled for June 18 of this year, this meeting was of particular importance in terms of coordinating the views and positions of the parties, systematizing the proposed initiatives and identifying priority areas.

The meeting was chaired by Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan. During the session, he coordinated the positions of relevant ministries and agencies regarding the initiatives put forward by the investors.

The event was attended by Shokhrukh Gulamov, Deputy Minister of Investments, Industry and Trade; Aziz Gafurov, Head of the Secretariat of the Foreign Investors Council; and Andi Aranitasi, Head of the European Bank for Reconstruction and Development (EBRD) Representative Office in Uzbekistan.

The fact that the head of the EBRD representative office moderated the session once again demonstrated the high interest and confidence of international financial institutions in the reforms being implemented in Uzbekistan.

The discussions centered on a comprehensive package of proposals containing a total of 116 initiatives related to regulatory, tax, and customs systems, infrastructure, digitalization and the financial sector. These initiatives are highly significant as they were formulated through systematic dialogue and practical discussions led by thematic working groups within the Foreign Investors Council.

During the debates on tax and customs administration, international companies put forward several key initiatives. Specifically, “EY” proposed cementing the tax regime for public-private partnership projects and power purchase agreements at the legislative level, as well as clearly defining the taxation rules for contributions to additional capital.

Meanwhile, “Masdar” and “China Energy” companies operating in the renewable energy sector initiated a review of the procedure for granting land and property tax exemptions for green energy and energy storage system projects. “Deloitte” and “Voltalia” raised issues regarding the cancellation of the requirement to register a separate permanent establishment in each region where an investor operates, as well as introducing mechanisms to exempt the import of technological equipment not manufactured in our country from value-added tax.

One of the most urgent and promising directions of the session was dedicated to the digital economy and artificial intelligence. The joint initiatives presented by “EY”, “TBC Bank” and “Yandex” drew significant attention, as they aim to establish a legal framework for artificial intelligence in Uzbekistan. Specifically, they proposed developing a separate law “On Artificial Intelligence”, implementing regulatory sandboxes, strengthening personal data protection systems in AI applications and creating a national platform for Big Data management.

In addition, increasing the digital literacy of the population in the e-commerce sector, launching special educational programs for small business representatives, and differentiating the VAT threshold for sole proprietors in online and offline trade activities were also at the center of the discussion. These initiatives demonstrate Uzbekistan's aspiration to become one of the leading digital economy hubs in the region.

Proposals of practical significance were also put forward regarding land relations and the protection of investors' rights. Specifically, Kosta Legal and the Food and Agriculture Organization of the United Nations (FAO) proposed unifying the legal procedures for land preparation and acquisition, establishing a land ombudsman institution, and setting up special appeals commissions for the pre-trial settlement of investment disputes. As noted, such mechanisms will serve to further strengthen the legal protection of investors.

Discussions on the financial market, corporate governance and “ESG” also formed an essential part of the session. Vision Invest proposed transforming Uzbekistan into a regional hub for foreign direct investment (FDI) and venture capital. Meanwhile, “Crowe” and “EY” noted the need to introduce minimum gender standards for the boards of directors of public companies and to implement national standards for responsible business conduct.

The Islamic Development Bank put forward proposals to create a legal framework for green sukuk issuance and to introduce the Islamic insurance system - takaful. According to experts, these initiatives could become key factors in diversifying Uzbekistan's financial market and expanding alternative financial instruments.

At the conclusion of the meeting, Jamshid Khodjaev specifically emphasized that each initiative put forward by investors is viewed as a vital foundation for accelerating the country's ongoing structural reforms. It was announced that an official protocol will be drafted based on the proposals and agreements reached, which will designate responsible ministries and agencies alongside concrete implementation deadlines.

As noted, this very document will serve as a primary mechanism for monitoring progress during preparations for the IV plenary session of the Foreign Investors Council, scheduled to take place on June 18, 2026.

The interim meeting held in Tashkent once again demonstrated that Uzbekistan is consistently shaping a new model of economic dialogue with international investors, built on the principles of mutual trust, openness and long-term partnership.