New Opportunities for Investors to Be Created in New Tashkent
Uzbekistan
President Shavkat Mirziyoyev held an open dialogue with investors and entrepreneurs regarding the acceleration of the New Tashkent construction project.
As part of the New Tashkent project—launched three years ago—the state is channeling substantial funds into infrastructure development and the construction of key social facilities. To date, over $2 billion has been invested in the new city. However, it was noted that the pace of private sector involvement in construction does not yet match the available potential.
A total of 20,000 hectares of land has been allocated for New Tashkent. The first phase involves projects worth $50 billion across a 6,000-hectare area. Currently, construction is proceeding primarily using state funds on a site covering over 1,000 hectares, whereas entrepreneurs have been allocated 94 hectares.
"New Tashkent is an area for more than just new housing," the President emphasized.
The new city is intended to become a self-sustaining economic hub, bringing together business, education, healthcare, tourism, and services. In this context, it was noted that two-thirds of the land plots allocated to investors are designated for residential projects, while active construction has yet to begin on 28 of the allocated lots.
The Head of State remarked that attributing the current situation to a lack of funds or interest among investors would be incorrect. Obstacles to project implementation include outdated requirements, delays in issuing permits, and the stance of certain agencies that act as regulators rather than partners. Consequently, a directive was issued to review all procedures—from the initial allocation of land to an entrepreneur to the final launch of the facility.
Plans are in place to complete 20,000 apartments in New Tashkent by the end of the year. This will create a new living environment for at least 70,000 people. The President emphasized that, alongside housing construction, it is essential to provide the population with necessary services in the areas of recreation, sports, retail, education, and healthcare.
A 55,000-seat stadium meeting FIFA standards is currently under construction in the city. In light of the upcoming U-20 World Cup, instructions have been issued to assess the demand for hotels, dining establishments, and entertainment venues, and to present concrete investment proposals to entrepreneurs.
The relocation of government agencies also plays a vital role in shaping the business landscape of the new city. The Ministries of Construction, Transport, and Energy are already operating there, and buildings for staff from other agencies are currently being erected. Directives have been issued to begin relocating the remaining ministries and state organizations to New Tashkent.
During the discussion, the need to expand opportunities for investor initiatives during the implementation of the city’s master plan was highlighted.
When unique projects that serve the city's interests arise, it is advisable to promptly review proposals regarding adjustments to plot sizes or the functional purpose of facilities, based on clear criteria. A task has been set to increase the number of land plots for which concepts, design documentation, and building permits have been prepared in advance.
To attract large-scale commercial developments, a land allocation mechanism based on open initiative and the "Swiss Challenge" principle will be implemented. Under this system, following the public announcement of an investor's proposal, other parties will have the opportunity to offer more favorable terms. If no such competing offers are made, the land will be allocated to the original initiator.
Infrastructure fees will be revised to incentivize the construction of service-sector facilities and social infrastructure. The base rate will be reduced threefold for retail outlets, service businesses, and business centers; fivefold for hotels and tourism facilities; and tenfold for cultural and entertainment venues. For private kindergartens, schools, and hospitals, the fee will be set at 1 percent. This new procedure will also apply to projects where construction has already commenced.
Measures have also been outlined to reduce costs associated with "green building" standards in New Tashkent. For non-residential projects valued at over $50 million, the state will fully cover the costs of obtaining "green" certification. The requirement to landscape 30 percent of each investor-acquired plot will not apply here; instead, the state will ensure the greening of 30 percent of the city's total area in accordance with the master plan.
A dedicated representative will be assigned to each project valued at over $50 million to support the investor through to the facility's commissioning. Separate investment agreements will be concluded for these projects, outlining the obligations of the parties and specific terms tailored to the project's unique characteristics.
To ensure entrepreneurs nationwide can benefit from these new opportunities, 100 hectares of land in New Tashkent will be allocated to each district of the capital and to each of the republic's 13 other regions. Entrepreneurs from the respective regions will be eligible to participate in the initial auctions for these land plots. The first 50 investment lots have been identified for foreign investors. A package of proposals—detailing locations, economic projections, and available opportunities—will be distributed through diplomatic missions. Ministers have also been instructed to systematically present New Tashkent projects during meetings with major foreign companies.
The construction of the "Shirin" district in Samarkand was also reviewed. The slow pace of work was criticized, and a decision was made to extend the incentives and opportunities established for New Tashkent to this district as well.
Addressing the distinction between domestic and foreign investors, the President emphasized: "Capital, innovative ideas, and honest labor know no nationality!" In this context, it was noted that every entrepreneur participating in the construction of New Tashkent and the "Shirin" district is contributing to the country's development.
Subsequently, the Head of State held a dialogue with the investors and listened to their proposals and initiatives.
A total of 20,000 hectares of land has been allocated for New Tashkent. The first phase involves projects worth $50 billion across a 6,000-hectare area. Currently, construction is proceeding primarily using state funds on a site covering over 1,000 hectares, whereas entrepreneurs have been allocated 94 hectares.
"New Tashkent is an area for more than just new housing," the President emphasized.
The new city is intended to become a self-sustaining economic hub, bringing together business, education, healthcare, tourism, and services. In this context, it was noted that two-thirds of the land plots allocated to investors are designated for residential projects, while active construction has yet to begin on 28 of the allocated lots.
The Head of State remarked that attributing the current situation to a lack of funds or interest among investors would be incorrect. Obstacles to project implementation include outdated requirements, delays in issuing permits, and the stance of certain agencies that act as regulators rather than partners. Consequently, a directive was issued to review all procedures—from the initial allocation of land to an entrepreneur to the final launch of the facility.
Plans are in place to complete 20,000 apartments in New Tashkent by the end of the year. This will create a new living environment for at least 70,000 people. The President emphasized that, alongside housing construction, it is essential to provide the population with necessary services in the areas of recreation, sports, retail, education, and healthcare.
A 55,000-seat stadium meeting FIFA standards is currently under construction in the city. In light of the upcoming U-20 World Cup, instructions have been issued to assess the demand for hotels, dining establishments, and entertainment venues, and to present concrete investment proposals to entrepreneurs.
The relocation of government agencies also plays a vital role in shaping the business landscape of the new city. The Ministries of Construction, Transport, and Energy are already operating there, and buildings for staff from other agencies are currently being erected. Directives have been issued to begin relocating the remaining ministries and state organizations to New Tashkent.
During the discussion, the need to expand opportunities for investor initiatives during the implementation of the city’s master plan was highlighted.
When unique projects that serve the city's interests arise, it is advisable to promptly review proposals regarding adjustments to plot sizes or the functional purpose of facilities, based on clear criteria. A task has been set to increase the number of land plots for which concepts, design documentation, and building permits have been prepared in advance.
To attract large-scale commercial developments, a land allocation mechanism based on open initiative and the "Swiss Challenge" principle will be implemented. Under this system, following the public announcement of an investor's proposal, other parties will have the opportunity to offer more favorable terms. If no such competing offers are made, the land will be allocated to the original initiator.
Infrastructure fees will be revised to incentivize the construction of service-sector facilities and social infrastructure. The base rate will be reduced threefold for retail outlets, service businesses, and business centers; fivefold for hotels and tourism facilities; and tenfold for cultural and entertainment venues. For private kindergartens, schools, and hospitals, the fee will be set at 1 percent. This new procedure will also apply to projects where construction has already commenced.
Measures have also been outlined to reduce costs associated with "green building" standards in New Tashkent. For non-residential projects valued at over $50 million, the state will fully cover the costs of obtaining "green" certification. The requirement to landscape 30 percent of each investor-acquired plot will not apply here; instead, the state will ensure the greening of 30 percent of the city's total area in accordance with the master plan.
A dedicated representative will be assigned to each project valued at over $50 million to support the investor through to the facility's commissioning. Separate investment agreements will be concluded for these projects, outlining the obligations of the parties and specific terms tailored to the project's unique characteristics.
To ensure entrepreneurs nationwide can benefit from these new opportunities, 100 hectares of land in New Tashkent will be allocated to each district of the capital and to each of the republic's 13 other regions. Entrepreneurs from the respective regions will be eligible to participate in the initial auctions for these land plots. The first 50 investment lots have been identified for foreign investors. A package of proposals—detailing locations, economic projections, and available opportunities—will be distributed through diplomatic missions. Ministers have also been instructed to systematically present New Tashkent projects during meetings with major foreign companies.
The construction of the "Shirin" district in Samarkand was also reviewed. The slow pace of work was criticized, and a decision was made to extend the incentives and opportunities established for New Tashkent to this district as well.
Addressing the distinction between domestic and foreign investors, the President emphasized: "Capital, innovative ideas, and honest labor know no nationality!" In this context, it was noted that every entrepreneur participating in the construction of New Tashkent and the "Shirin" district is contributing to the country's development.
Subsequently, the Head of State held a dialogue with the investors and listened to their proposals and initiatives.
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