Economy

The world is undergoing deep restructuring processes — President Shavkat Mirziyoyev

The President is delivering a speech at the plenary session of the St. Petersburg International Economic Forum.

The world is undergoing deep restructuring processes — President Shavkat Mirziyoyev

President Shavkat Mirziyoyev delivered a speech at the plenary session of the St. Petersburg International Economic Forum, which is taking place in St. Petersburg, Russia. The President's press secretary reported this.

 

The President addressed issues of changes in the global economy, regional cooperation, and sustainable development.

 

The head of state expressed gratitude to Vladimir Putin for the opportunity to participate in the forum and congratulated Samia Suluhu Hassan and Han Zheng.

 

In his speech, the President emphasized that over thirty years, the St. Petersburg International Economic Forum has become an influential platform for exchanging views on pressing global issues. He also noted that Uzbekistan and Russia are connected by historical, cultural, and human ties.

 

Shavkat Mirziyoyev recalled that many Uzbeks participated in the defense of Leningrad during World War II, and Tashkent hosted millions of evacuated people, noting that these events remain part of the shared historical memory of the two peoples.

 

During the speech, the head of state also focused on the structural changes observed in the global economy. According to him, the world is undergoing a deep transformation, transport routes and production chains are being renewed, and artificial intelligence technologies are rapidly penetrating various sectors of the economy.

 

The President noted that issues of energy, food, and digital security are being reconsidered, and competition is now intensifying not only in markets and natural resources but also in the fields of technology, logistics, and infrastructure.

 

The leader of Uzbekistan emphasized that at a time of growing instability in the global economy, the role of states and regions capable of forming cooperation spaces based on collaboration, stability, and mutual benefit is increasingly rising.

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A one-hour power outage in Tashkent could cause $3.5 million in economic damage.

Due to certain factors, the actual damage may be slightly less, but when secondary consequences are taken into account, the losses could multiply.

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Uzbekistan's state debt reached 47 billion dollars in the first quarter of 2026.

85 percent of this amount accounts for external debt, and 15 percent for internal debt.

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Kazakhstan's Eurasian Bank suffered billions in losses following its exit from Uzbekistan.

The loss occurred as a result of the depreciation of investments.

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In Uzbekistan, organizations and institutions utilized 178.1 trillion soums worth of tax and customs benefits.

143,205 entities have used tax benefits, and 15,346 organizations have used customs benefits.

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Uzbekistan will attract $53 billion in foreign investment in 2026.

The President stated that investment quality must be the main criterion for all leaders.

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In Bukhara, 1.8 trillion soums of financial turnover in the housing sector were concealed.

Shavkat Mirziyoyev critically discussed the issues of combating the shadow economy in the country.

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In Uzbekistan, the amount of money sent by migrants increased by $433 million.

Additionally, during the reporting period, foreign currency funds amounting to $604 million were transferred out of the country.

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Saida Mirziyoyeva met with Ben Black

During the conversation, a portfolio of major projects was discussed.

Certificate: №1346 Issue date: 28.05.2020

Idea author: Firdavs Fridunovich Abdukhalikov

Founder: "Master Media Production and Broadcast"