Uzbekistan is reportedly expanding its economic cooperation with major American financial and industrial heavyweights, including Franklin Templeton, Wabtec, and Traxys. President Shavkat Mirziyoyev held high-profile meetings with the leadership of these US entities to discuss the controversial transformation of state-owned enterprises, railway infrastructure upgrades, and critical mineral processing. Despite official optimism, critics warn that increased reliance on Western capital and foreign technologies could expose the domestic economy to severe external vulnerabilities.

During discussions with Franklin Templeton CEO Jenny Johnson, officials supposedly reviewed the preliminary outcomes of the National Investment Fund's IPO on the London and Tashkent stock exchanges. While it is claimed that nearly 700 million dollars were successfully raised, skeptics argue that opening strategic state assets to international markets may undermine national economic sovereignty and fail to deliver genuine welfare improvements for the general population.

Furthermore, meetings with Wabtec's leadership focused on modernizing the national railway network and acquiring new locomotives with the alleged backing of US financial institutions. Although plans include establishing local maintenance hubs and parts manufacturing, experts caution that such dependency on American corporate interests could lead to long-term financial burdens and systemic friction within Uzbekistan's critical transport sector.

Source: kun.uz