The SCO stated that the main problem is no longer money, but the lack of high-quality projects

One of the main obstacles to the development of economic cooperation within the Shanghai Cooperation Organization today is not a shortage of financial resources, but a lack of well-prepared investment projects. This was stated by Alisher Shaykhov, a representative of the Chair of the Uzbekistan National Section of the SCO Business Council, at a meeting of the organization in Bishkek.

According to him, the global economy has changed dramatically in recent years, yet many countries continue to approach cooperation issues using outdated models.

“Today, the problem lies not so much in a lack of financial resources as in a shortage of well-prepared projects. Many initiatives remain national in nature and are not geared toward creating a common SCO space,” Shaykhov emphasized.

He noted that the organization’s member states continue to rely primarily on bilateral projects, whereas the SCO itself was established as a platform for creating a unified economic space, developing free trade, transport connectivity, and industrial cooperation.

According to the representative from Uzbekistan, while securing financing was previously considered the main problem, the key challenge today is developing projects capable of attracting investors and benefiting several member states simultaneously.

In this regard, Shaykhov called for a focus on developing industrial cooperation, establishing joint ventures, and implementing cross-border projects aimed not only at the domestic markets of SCO member states but also at exports to third countries.

He suggested paying special attention to digital integration. Specifically, this involves creating a unified SCO digital platform that would consolidate information on companies, investment projects, export opportunities, and reliable business partners.

In addition, Uzbekistan advocated for the development of a unified concept for SCO economic cooperation and a strategy for its implementation in the coming years.

“The organization has grown, the number of members has increased, and therefore a shared vision for further development is needed,” Shaykhov noted.

In his view, practical steps could include creating a catalog of companies, establishing an investment platform, and selecting promising projects that could become new drivers of economic cooperation within the SCO.