President Mirziyoyev calls for faster private sector involvement in New Tashkent project

11:262492 min

More than $2 billion has been invested in the construction of New Tashkent, but private sector participation remains limited, with businesses allocated just 94 hectares of land out of the 20,000 hectares designated for the new city, President Shavkat Mirziyoyev has said.

Photo: Presidential press service

President Mirziyoyev calls for faster private sector involvement in New Tashkent project — Photo: Presidential press service

Mirziyoyev made the remarks during an open dialogue with investors and entrepreneurs on accelerating construction in New Tashkent, a major urban development project launched three years ago.

The president said proposals raised at meetings with business representatives over the past month had been reviewed, along with problems related to land allocation, obtaining permits and payments.

The government is investing heavily in essential infrastructure and major facilities, including a stadium, university and library. Construction is currently underway across more than 1,000 hectares, financed mainly by public funds.

Mirziyoyev noted that the pace of private sector involvement did not match the project's potential, despite the substantial investment opportunities available.

The first phase of New Tashkent envisages projects worth $50 billion across 6,000 hectares.

The area's investment potential could reach $200 billion when the planned new airport is taken into account, the president said. The figure represents the territory's potential to attract investment in the future, rather than the amount already invested.