FDI remains a vital source of external finance and a powerful driver of sustainable development. As competition for global capital increases, Investment Promotion Agencies play a key role in shaping investor perception and driving long-term growth.

At hashtag TIIF 2025, this session brought together the heads of IPAs from across the Turkic world. The session also featured a keynote address by Shokhrukh Gulamov, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan, who presented the country’s investment priorities and outlined the wide-ranging opportunities for foreign investors in Uzbekistan’s rapidly transforming economy.

The discussion was moderated by Ramil A Babayev, General Director of the Turkic Investment Fund, and featured Farid Mammadov, Project Director at the Organization of Turkic States, Baghdad Amreyev, President of the Turkic Investment Fund, Yusif Abdullayev, Executive Director of Azerbaijan’s Export and Investment Promotion Agency, Yerzhan Yelekeyev, Chairman of KAZAKH INVEST, Farkhat Iminov, Director of the National Investment Agency under the President of the Kyrgyz Republic, Erhan Türbedar, Senior Economic Affairs Advisor at the Turkic Investment Fund, and Mansurjon Rasulev, Acting Director of Uzbekistan’s Investment Promotion Agency.

Speaking on Uzbekistan’s reform journey, Mansurjon Rasulev noted: “We embarked on ambitious reforms in 2017 under the leadership of President Shavkat Mirziyoyev. But for international investors, having reforms on paper is not enough - it was essential to show reforms in action.” He described his agency’s role as a matchmaker, connecting promising Uzbek companies with international investors and actively guiding them through the local investment landscape.

Uzbekistan’s foreign investment rose tenfold, from USD 3.5 billion in 2017 to USD 34.9 billion in 2024. Mansurjon added that as the interest rate continues to decline, even more capital is expected to flow into the country, unlocking further investment opportunities.

The session underscored the importance of collaboration among Turkic IPAs - not just as a mechanism for regional solidarity, but as a shared strategy for attracting sustainable investment.