Timur Ishmetov, Chairman of the Central Bank of Uzbekistan, called on Central Asian countries to abandon competition for the status of independent investment hubs and instead promote the region as a single, major market.
In an interview with the Financial Times, he emphasized that closer coordination of economic policies, trade development, and the creation of an open economic space could significantly increase the region's attractiveness to international capital, Gazeta.uz reports.
According to Ishmetov, the foundation for such a model is already being laid in Central Asia. The region's combined population will exceed 100 million people in the coming years, and its total economy could potentially approach $1 trillion. For major international investors, this represents a market significantly more attractive than individual national economies, especially if trade and administrative barriers between countries are reduced.
The statement by the head of the Uzbek regulator reflects a significant evolution in Tashkent's economic approach. Uzbekistan, traditionally focused on developing its own manufacturing base and attracting investment into the national economy, is increasingly viewing neighboring states as part of a single economic space. Improving relations with Kazakhstan, Kyrgyzstan, Tajikistan, and other countries creates conditions for expanding trade, transport connectivity, and cross-border production chains.
This approach could be particularly important for attracting major investors. International businesses are interested not only in the benefits offered by a specific country, but also in market size, access to neighboring states, logistics, and the predictability of regulations. If Central Asia can gradually create a freer trading space, investors will be able to view the region not as five relatively small markets, but as a single economic complex.
In this sense, Uzbekistan's current regional policy is becoming strategic. Competition between neighbors for investors is gradually giving way to a model of mutual reinforcement, whereby investments in one country can create economic benefits for the entire region. For Central Asia, this means a shift from fragmented capital raising to the formation of a common investment space.
CentralasianLIGHT.org
September 4, 2026