As the Fourth Tashkent International Investment Forum unfolds, Chinese businesses are keenly exploring investment prospects in Uzbekistan. With China emerging as Uzbekistan’s largest trading partner, investments are shifting focus towards green energy and high-tech manufacturing, moving away from traditional sectors.
Uzbekistan, strategically situated in Central Asia, plays a pivotal role in regional cooperation and initiatives like the Belt and Road Initiative (BRI). The government’s “Uzbekistan-2030” strategy underscores the commitment to growing green energy and enhancing investment conditions.
Fostering a green partnership, China and Uzbekistan have made significant strides in renewable energy. A substantial project is the Chinese-built wind farm in the Bukhara region, which has begun commercial operations. This facility is set to produce 3.6 terawatt-hours of clean energy each year, significantly contributing to Uzbekistan’s goal to elevate renewables to 50% of total energy consumption by 2030 and reducing carbon emissions by 1.6 million tonnes.
Additionally, Uzbekistan is championing the use of electric vehicles (EVs) with the BYD factory in Jizzakh producing 50,000 cars annually. Supported by government incentives, EV adoption has rapidly increased, positioning Uzbekistan as the leader in EV use in Central Asia.
China’s technological expertise in renewable resources such as solar, wind, and hydropower makes it an invaluable ally in Uzbekistan’s transition to sustainable energy solutions. The 2023 China-Central Asia Summit highlighted the significance of enhancing green economy collaboration, promising substantial advancements for Uzbekistan and the broader Central Asian region.
Source: news.cgtn.com
