Tadashi Maeda: Uzbekistan’s economy has embarked on a path of sustainable and dynamic growth

September 03, 2026. 07:05 • 4 min

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Tadashi Maeda: Uzbekistan’s economy has embarked on a path of sustainable and dynamic growth

TOKYO, September 3. /Dunyo IA/. Chairman of the Japan Bank for International Cooperation (JBIC) Tadashi Maeda conveyed his sincere congratulations and best wishes to the people of Uzbekistan through Dunyo IA on the occasion of the 35th anniversary of the country’s independence:

– First and foremost, I would like to extend my heartfelt congratulations on this landmark occasion – the 35th anniversary of the independence of the Republic of Uzbekistan.

In July 2024, I visited Tashkent. During the visit, I had the honor of meeting with President of the Republic of Uzbekistan Shavkat Mirziyoyev and other senior officials.

As evidenced by the country’s development in recent years, following Shavkat Mirziyoyev’s assumption of the presidency, Uzbekistan’s economy has embarked on a path of sustainable and dynamic growth. On this occasion, I would like to express my deep respect to the President of Uzbekistan for his visionary and wise leadership, guided by the principle: “As one homeland and one people, we will build a new life and a new future!”

Uzbekistan, the most populous country in Central Asia, plays a leading role in the region.

Last year, Japan hosted the Summit of Heads of State within the framework of the “Central Asia + Japan” Dialogue, which resulted in the signing of more than 30 documents. I would particularly like to emphasize that the event not only resulted in the signing of documents, but also identified specific new projects and areas of cooperation.

In his address to the Tashkent International Investment Forum, the President noted that economic growth reached 7.7 percent in 2025, while GDP is expected to reach $180 billion in 2026. These figures demonstrate the dynamic development of the country’s economy.

JBIC’s cooperation with Uzbekistan has a long history. Shortly after Uzbekistan gained independence, in 1995, our bank began providing financial support to the country, primarily for the modernization of oil refineries, as well as export credits for the supply of equipment for the implementation of enhanced oil recovery methods.

Recently, our cooperation has been shifting from traditional forms of interaction toward investment projects. In recent years, the volume of foreign direct investment has increased significantly. Investment projects are being implemented not only in the energy sector, but also in areas such as air traffic management systems and hospital construction.

JBIC has also provided financing for the construction of a thermal power plant in Syrdarya region, which is being implemented under a public-private partnership involving Japanese company Sojitz Corporation. In addition, the bank is financing the construction of a solar power plant in Samarkand region, implemented with the participation of Japanese company Sumitomo Corporation and Saudi Arabia’s ACWA Power.

During our meeting two years ago, Deputy Prime Minister – Minister of Economy and Finance of Uzbekistan Jamshid Kuchkarov proposed establishing a joint working group to monitor the implementation of bilateral projects.

Under the leadership of the President of Uzbekistan, cooperation between our countries has been steadily developing across a wide range of areas, including modernization of airport infrastructure, development of the healthcare system and other strategically important sectors.

At the initial stage of economic development, government guarantees are often necessary for attracting concessional financing for major infrastructure projects. At the same time, strengthening partnerships between the public and private sectors is becoming increasingly important for bringing the economy to a qualitatively new level.

In this context, I would particularly like to highlight Uzbekistan’s efforts to successfully implement major projects through public-private partnership mechanisms, which contribute to attracting investment, introducing advanced technologies and ensuring sustainable economic development.

During my visit, I visited the Alisher Navoi State Academic Bolshoi Theatre, as well as the high-speed railway station.

I am aware that approximately 450 Japanese internees made a significant contribution to the construction of the theatre. It is particularly impressive that the building sustained no serious damage during the devastating Tashkent earthquake of 1966.

It was a great honour for me to take part in a memorial event held at the theatre in memory of the Japanese internees.

Remembering the noble work of our predecessors, I would like to continue making every effort to further strengthen the friendly relations between Japan and Uzbekistan.

Our bank remains committed to developing cooperation with Uzbekistan and intends to continue contributing to the country’s socio-economic development through the implementation of concrete projects.

From the bottom of my heart, I wish His Excellency the President good health and continued success. I am confident that under his wise leadership, Uzbekistan will continue its dynamic development and achieve even greater success on the path toward prosperity.

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Dunyo1

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