(Saint Petersburg, June 5, 2026)

Your Excellency, Mr. Vladimir Putin!

Distinguished Heads of State and Government!

Ladies and gentlemen!

First and foremost, I would like to express my sincere gratitude to His Excellency Vladimir Putin, the President of the Russian Federation, for the invitation and warm hospitality.

I would also like to welcome H.E. Ms. Samia Suluhu Hassan, the President of Tanzania and H.E. Mr. Han Zheng, the Vice President of the People's Republic of China.

It is my great honour to participate in the St. Petersburg International Economic Forum, which, over the course of its thirty-year history, has become one of the most prestigious and sought-after platforms for discussing the key issues on the global agenda.

I am delighted to be back in St. Petersburg, the cultural capital of Russia, a city with a special history, spiritual closeness and human destinies connected with Uzbekistan.

During the harsh war years, many Uzbeks participated in the defence of Leningrad, while Tashkent sheltered more than one and a half million evacuated children, women and elderly people. This memory remains part of our shared moral fabric.

Distinguished forum participants!

Today, right here on the banks of the Neva River, as we reflect on the past, we are also discussing the future and the new architecture of the global economy.

The world is undergoing a profound transformation. Transportation routes are changing, new supply chains are being formed, modern technological platforms are emerging, and artificial intelligence is being deployed across industries.

A fundamental reassessment of energy, food and digital security is taking place. Competition is increasingly evident not only in the struggle for markets and natural resources, but also is shifting into the realm of technology, algorithms, logistics and infrastructure.

Amidst the turbulence in the global economy, states and regions that play a consolidating role and foster cooperation, stability and mutual benefit are becoming increasingly important.

For millennia, Uzbekistan has been at the heart of the Great Silk Road. It was not merely goods that passed through Samarkand, Bukhara and Tashkent; ideas and knowledge, cultural and religious traditions also intermingled.

Therefore, for us, openness has never been a choice, but a vital necessity and a civilizational code. Now, it is taking a new content.

Uzbekistan and Central Asia as a whole are emerging as independent centers of economic growth. Here, the transportation, technological and demographic contours of the future converge. The crossroads of the main lines of communication between North and South, West and East, is taking shape here.

To firmly secure this growing trend, we urgently need connectivity of a fundamentally new level. This involves not only linking traditional transport, logistics and energy corridors, but also integrating digital, payment and industrial infrastructure.

A strong, consolidated, economically connected, open and stable Central Asia would serve the strategic interests of all our partners.

Ladies and gentlemen!

For Uzbekistan, Russia is more than just a regional neighbor. It is our time-tested strategic partner and ally.

Today, our relations have entered a new era. Our cooperation has become multi-level and multifaceted.

We have progressed from simple trade in goods to complex industrial chains, technological alliances, joint engineering and localized production. According to our statistics, mutual trade turnover has more than tripled over the past 10 years, rising from 4 to 13 billion dollars. The current portfolio of joint projects with Russia exceeds 50 billion dollars.

Trade and economic cooperation between the regions of our two countries is steadily expanding. Our main partners - Moscow and Saint Petersburg, the Moscow and Leningrad Regions, Tatarstan and Bashkortostan, the Krasnoyarsk and Perm Krai– are actively involved in this process, as are many other Russian regions.

The value of the interregional projects that they are implementing amounts to 5 billion dollars, with an additional investment package of 5 billion dollars in the pipeline. The cooperation encompasses all key industries, including energy, chemicals and petrochemicals, mechanical engineering, agriculture, logistics, textiles, the food industry and other sectors. Among these, the joint industrial parks in five regions of Uzbekistan and the railcar manufacturing cluster in Tashkent deserve special attention.

I would like to focus on the energy sector. Through investment projects, including those involving Russian partners, we have increased our electricity production by one and a half times - from 58 to 87 billion kilowatt-hours. We plan to increase generation to 120 billion kilowatt-hours by 2030, 54 percent of which will come from renewable energy sources.

Our capacity will also be enhanced with the commissioning of the first hybrid nuclear power plant in Uzbekistan, a project involving Russian participation.

Yesterday, H.E. Mr. Vladimir Putin and I attended the first concrete pouring ceremony for the construction of the nuclear power plant.

This is a long-term development project that allows to establish a new school of engineering and adopt advanced technologies.

We also intend to collaborate in other areas of the peaceful use of atomic energy, such as medicine, agriculture, industry and science.

Dear friends!

In the current environment, technological and industrial cooperation between Uzbekistan and Russia should not be confined to bilateral level.

We are focusing on broader areas of cooperation spanning industrial potential, resources, markets and expertise. Therefore, we are initiating the formation of a "Eurasian Technological Industrialization Belt". This is an interconnected system of industrial and technological clusters united by a single digital platform for industrial cooperation. We are talking about creating full-cycle chains, from technology development and personnel training to the localization of industrial production and entry into foreign markets.

We propose implementing this initiative on the basis of the already proven “INNOPROM. Central Asia” international industrial trade fair platform, which is held annually in Tashkent. This approach will enable businesses to find partners directly and establish mutually beneficial relationships.

Ladies and gentlemen!

Digitalization is undoubtedly a promising area of cooperation, as it is becoming the new language of the economy.

While infrastructure used to mean roads, pipelines and power lines, today it primarily entails digital platforms. They form an entire ecosystem comprising jobs, logistics, payment services and new export opportunities.

Uzbek businesses are actively developing digital solutions and are open to technological partnerships with a wide range of countries. For instance, our sales volume has increased three and a half times over the last few years through Russian marketplaces and digital services, reaching over 1.5 billion dollars.

To deepen our cooperation, we propose creating a Joint Digital Ecosystem. This could initially include aligning regulations for digital trade and urban services, further promoting Uzbek and Russian brands on mutual platforms, establishing a unified digital employment profile and developing artificial intelligence-based products. This will open up new markets for businesses and provide citizens with additional income opportunities.

At the same time, in the pursuit of digitalization, it is important to keep in mind that ultimately the individual is at the core of all transformations.

Today, Uzbekistan is one of the youngest countries in the world, with more than half of its population being young people. This is not just a statistics. It is a source for development. It sparks new demand. It is our future.

Our task is not merely to provide young people with modern knowledge. It is also crucial to create an environment in which young people can master advanced skills and realize their potential. Cooperation in education and professional training plays a special role here.

Uzbekistan is home to 32 branches of foreign universities, 15 of which are Russian. This is the largest network of Russian universities abroad.

At the same time, vocational education is of great importance, especially with an emphasis on implementing practice-oriented training programs. We already have some successful examples, such as the launch of the first joint engineering schools in Almalyk and Tashkent.

Online learning services could be an effective mechanism for cooperation in this area, as they would enable young people even in the most remote regions to acquire the necessary knowledge. This would fundamentally change the labor mobility model and elevate its organization to a qualitatively new level.

In this regard, we propose creating a joint Online Platform for Human Capital Development. The platform will link education, professional training and the labor market.

The system could integrate educational programs, language and IT courses, support for young entrepreneurs and access to employers.

This will provide our youth with a clear path into the new economy. For businesses, it will offer access to a pool of trained specialists. Universities and colleges will benefit from a connection to real market demand. For Uzbekistan and Russia, it represents a long-term investment in our most valuable asset – our people.

If H.E. Mr. Vladimir Putin supports this initiative, we will instruct our respective ministries to launch the platform without delay.

I would like to highlight tourism separately as the humanitarian foundation of our partnership. This industry is best suited to fostering an economy of trust.

When people come to Uzbekistan, they experience not only monuments and cities, but also the culture, hospitality, the business environment and entrepreneurial opportunities.

In 2025, we hosted nearly a million Russian visitors, and we are ready to welcome even more this year.

To this end, we are developing our tourism infrastructure and the creative economy. By 2030, creative economy will account for five percent of GDP, thereby becoming one of the key drivers of growth.

To strengthen the cultural and humanitarian dimension of our cooperation, we propose launching the "From Samarkand to St. Petersburg" creative-tourism corridor project. This initiative involves organizing joint art and film festivals, museum exhibitions, culinary weeks and musical events.

Yesterday, Uzbekistan's cultural and artistic projects were launched at the Mariinsky Theatre and the State Hermitage Museum.

Distinguished participants of the forum!

The year 2026 holds special significance for our country. We are approaching a landmark milestone in our systemic reforms.

A decade ago, we embarked on the construction of a New Uzbekistan based on openness, inclusivity and pragmatism. Over the years, we have established a solid foundation for long-term growth, including a favorable business environment, a stable industrial base and new infrastructure.

Our economy has grown from 50 billion dollars to 147 billion dollars, and we forecast growth of over 8 percent this year. During the period of reform, we have attracted more than 150 billion dollars in foreign investment and launched thousands of modern enterprises. Exports of goods and services have almost tripled.

Even now, amid global instability, Uzbekistan continues to demonstrate sustained growth. Our economy is becoming more diversified, the domestic market is expanding, and the demand is growing for modern technologies, infrastructure and high-quality jobs.

One of Uzbekistan's key strengths is its young, dynamic and rapidly growing population. This provides a long-term foundation for the development of entrepreneurship, technology, services and industry.

However, demographics alone do not guarantee success. This potential must be transformed into a powerful intellectual resource, manifesting as competencies, productivity and the capacity to create high-value-added products and technologies.

Since the beginning of the reforms, we have been committed to integrating market efficiency and social responsibility. This is the defining feature of the Uzbek model of economic development.

The growth must be not just rapid. It must also be sustainable, inclusive, and focused on improving people's quality of life.

Over the last five years alone, the population's aggregate income has increased 2.5-fold.

Our main criteria are a high quality of life, human dignity and unlocking the potential of every individual.

The "Uzbekistan-2030" Development Strategy is designed to achieve this very goal. Our aim is to raise the population's income to above-average levels by this date, transition all sectors to a technological and innovative growth model, and increase the size of the economy by another 1.5 times - to over 240 billion dollars.

Distinguished forum participants!

We are consistently creating all the necessary conditions for global investment. We are establishing a favorable business climate, improving market institutions and increasing the level of competition and production potential.

We invite the investors present here to create new industrial value chains.

Our priorities are the deep localization of competencies, production and R&D, as well as the development of modern engineering and new export avenues.

This is particularly important in sectors where the new economy is taking shape today: industrial processing, agri-tech, biochemistry, robotics, digital solutions, artificial intelligence and infrastructure projects.

We see great potential for cooperation through public-private partnerships in various sectors, including energy, aviation, education and geology.

We offer interested partners direct access to a growing domestic market and neighboring countries and regions.

Dear friends!

Uzbekistan is a reliable and predictable country for the global business community.

The trend of our economy towards the highest level of openness is objectively confirmed by leading rating agencies. This year alone, our country has risen another 14 places in the Index of Economic Freedom.

In recent years, we have placed 16 billion dollars worth of sovereign and corporate bonds on international markets. Last month, the London Stock Exchange hosted the initial public offering of shares in the National Investment Fund of Uzbekistan, which consolidates the assets of major state-owned companies.

In order to further develop the capital market and create a sustainable financial and investment platform that operates according to the best standards, we have started to set up the Tashkent International Financial Center.

The center's special legal and tax regime will provide investors with convenient tools and reliable guarantees for conducting business.

Taking this opportunity, I invite all of you to the Tashkent International Investment Forum, which will be held on June 16-18, and will provide an opportunity to gain first-hand experience of the opportunities and prospects of New Uzbekistan.

Ladies and gentlemen!

The theme of this year's forum, "Pragmatic Dialogue – The Path to a Stable Future," is symbolic. Indeed, open and respectful dialogue has become the main prerequisite for sustainable development today.

New opportunities arise where there is trust, a willingness to cooperate and a commitment to finding solutions together. The partnership between Uzbekistan and Russia is a prime example of this kind of interaction.

I would like to once again express my sincere gratitude to H.E. Mr. Vladimir Putin, the President of the Russian Federation, for the invitation to this major international forum and the opportunity to present the development priorities of the New Uzbekistan.

In conclusion, I wish all participants productive work and a meaningful exchange of views.