Capital investment: Mishustin assessed Russia's investments in the economy of Uzbekistan

Russian business has invested more than 4 trillion rubles in Uzbekistan's economy. This was stated by Russian Prime Minister Mikhail Mishustin at the international investment forum in Tashkent. He noted the growth of trade turnover between the two countries in agriculture and stressed the prospects of the idea of the Samarkand –St. Petersburg tourist corridor. See the Izvestia article about which projects allow Russia to remain one of the leading investors in the Uzbek economy.

How sultry Uzbekistan gathered hundreds of investors from all over the world

Today, the capital of Uzbekistan is the main economic showcase of Central Asia with a fast—growing economy and infrastructure. On June 16-18, the V Tashkent International Investment Forum (TMIF) opened here, in air-conditioned halls that protect from the heat of the street. A large Russian delegation led by Prime Minister Mikhail Mishustin flew to Uzbekistan to consolidate Russia's position as a leading investor in the local economy.

The forum has been held since 2022 and traditionally gathers a representative staff. On June 17, President Shavkat Mirziyoyev opened the plenary session and spoke about how Uzbekistan's economy is growing due to attracting foreign investment. He was followed by Mikhail Mishustin, who reported that the total volume of Russian investments in the economy of Uzbekistan exceeded 4 trillion rubles. More than 3,000 Russian enterprises operate in this country, they implement about 150 large projects.

— Russian business is represented almost throughout the republic. We are seeing the results of common efforts — jobs are being created, and the production of products in demand is increasing. And the Russian government is committed to strengthening trade and economic cooperation with Uzbekistan," said the head of the Cabinet of Ministers of the Russian Federation.

The agricultural trade turnover between Moscow and Tashkent in January-April 2026 increased almost 1.5 times compared to the same period in 2025. "Together we continue to strengthen food security," Mishustin stressed.

Industrial cooperation is also reaching a new level. Technoparks are already operating in Tashkent and Jizzakh regions, which are sites where high—tech companies, research and production centers, start-ups and innovative projects are developing.

Special attention is paid to cultural ties, especially in the context of the idea of the Samarkand-St. Petersburg creative and tourist corridor. This proposal was made by Shavkat Mirziyoyev himself at the SPIEF.

"Tomorrow we will discuss these initiatives at the International Conference on Strengthening Cultural Ties and Developing Creative Industries in St. Petersburg," the Russian Prime Minister announced.

In conclusion, he invited the business circles of the Russian Federation and Uzbekistan to the Innoprom exhibition, which will be held in Yekaterinburg in July.

What projects unite Russia and Uzbekistan

Relations between Moscow and Tashkent help to develop cooperation within the framework of the Eurasian Economic Union (EAEU). In December 2022, Uzbekistan received the status of an observer state at the organization, and with it certain preferences related to access to the free trade zone. This affects the turnover, which is not burdened with numerous duties.

Yesterday, Russian Deputy Foreign Minister Alexander Pankin said that the EAEU was ready to accept Tashkent as a full member of the organization as soon as possible. The Republic is in no hurry to take this step yet, which, however, does not in any way hinder the strengthening of ties between the two states. For Russia today, it is not the formal status of Uzbekistan in integration associations that is more important, but practical cooperation, Said Gafurov, associate professor at MGLU and RGSU, explained to Izvestia.

Joint industrial projects, energy, transport corridors, regional cooperation, trade development — all this brings quite concrete results, regardless of whether Tashkent sits at the EAEU table as an observer or as a full participant.

"In this sense, Mishustin's visit does not look like another attempt to convince Uzbekistan to join the union, but rather a recognition of a new political and economic reality," the expert believes.

Speaking at the forum, the Russian Prime Minister mentioned the main joint project of Moscow and Tashkent — the construction of a nuclear power plant in Uzbekistan, which is being handled by the Rosatom state Corporation. In early June, at the St. Petersburg International Economic Forum, Vladimir Putin and Shavkat Mirziyoyev launched the laying of the foundation of this large-scale structure. The project is unique: for the first time, small and large—capacity nuclear power plants will be built on the same site - with two power units based on VVER-1000 reactors and a power unit consisting of two RITM-200N reactors with a capacity of 55 MW each.

When launching the construction, Shavkat Mirziyoyev stressed: this is not the last project of a joint nuclear power plant with Russia. "We will continue to build other stations," he said.

Transport has become the second most important area of cooperation between the two countries. Today, the organization of international transport routes through the territory of Uzbekistan and neighboring countries continues to be worked out. First of all, these are the North–South MTS, the Uzbekistan–Iran, Uzbekistan – Ports of the Far East routes, as well as Russia – Caspian – Turkmenistan – Uzbekistan – Kyrgyzstan.

Trade and economic cooperation between Uzbekistan and 82 regions of the Russian Federation remains important. Moscow, St. Petersburg, Tatarstan, Bashkiria, as well as the Moscow, Chelyabinsk, Orenburg and Sverdlovsk regions trade most actively with the republic.

Relations between Russia and Uzbekistan are an example of mature and pragmatic cooperation.. They are not based on an ideological alliance, but on the coincidence of specific economic and geopolitical interests. Tashkent skillfully uses Russia's economic potential to modernize its country, while maintaining political independence and freedom of maneuver in the international arena. This approach is no less beneficial for Russia. because cooperation between the two countries does not depend on who is in power in the republic. Tashkent is a reliable partner for Moscow, including in security matters. Uzbekistan borders Afghanistan, while it knows how to build pragmatic relations with it, protecting the southern borders of the CIS.