Uzbekistan's investment forum highlights progress amid concerns over foreign project disputes

Tashkent is set to host the fifth annual international investment forum, positioning itself as Central Asia's premier platform for global investors eyeing one of the world's fastest-growing markets. The event is a key element in Uzbekistan's strategy to present itself as a modern nation actively engaging with international business.

Uzbekistan has cultivated a strong external image, emphasizing reforms, openness, and independent judiciary in its communications with the West. The country also maintains strategic engagement with CIS nations, spearheaded by President Shavkat Mirziyoyev's diplomatic efforts. This multi-vector approach has established Uzbekistan as a notably systematic country within the region, with a well-crafted public relations strategy.

However, this polished investment facade is reportedly marred by disputes involving foreign-invested projects. Cases concerning Solfy and Humans, both with foreign participation, have become entangled in conflicts with state or quasi-state entities. These situations introduce a discordant note to Uzbekistan's otherwise attractive investment narrative.

The Solfy case involves Maxim Poletaev, who partnered with Uzbekistan's National Bank. Following a decision to dissolve the partnership in autumn 2025, disagreements arose. Poletaev sought legal assistance, but the Uzbek side reportedly arrested Solfy's director, Ukhtam Khasanov, accusing him of embezzling funds and failing to pay contractual fees. A similar scenario is unfolding with the fintech company Humans, where its Singaporean parent company encountered issues with state bodies after attempting to part ways amicably.