Historically, Central and South Asia constituted a macro-region of intensive cross-cultural and civilisational exchange.

The peoples of the two regions were repeatedly incorporated into common state formations and shared political, economic, cultural and humanitarian spaces. It was through these territories that major routes passed, connecting the Middle East, Europe, India and China. Close contacts facilitated the dissemination of scientific knowledge and philosophical ideas, as well as achievements in medicine, astronomy, mathematics, architecture, diplomacy and systems of public administration.

In contemporary conditions of global turbulence and a deficit of mutual trust, understanding the deep historical and civilisational commonality of Central and South Asia is of particular importance. This is not only a matter of retrospectively analysing trade ties or political contacts of the past. Data from modern population genetics confirm the existence of stable, centuries-long anthropological interconnections among the population of the macro-region.

The results of large-scale palaeogenetic studies, including the sequencing of ancient DNA (aDNA) from representatives of the Indus civilisation, together with archaeological and linguistic evidence, make it possible to reconstruct the directions of migration flows and the transformation of the gene pool over millennia.

Studies of the ancient population of southern Uzbekistan and of the Bactria-Margiana Archaeological Complex (BMAC) demonstrate the genetic continuity of local populations and their close contacts with ancient communities of the Iranian Plateau, north-western India and the Indus basin.

The specific nature of these processes in the Late Bronze Age and the Early Iron Age indicates that the territories of present-day southern Uzbekistan functioned as a space of permanent demographic and cultural exchange. They formed part of a single area of intensive circulation of people, technologies and cultural practices. This factor shaped the closeness of anthropological, linguistic and religious processes in Central and South Asia without erasing their autochthonous identities.

This is not a question of genetic homogeneity, but of a centuries-old system of demographic interactions that shaped the closeness of anthropological, linguistic, cultural and religious processes in Central and South Asia.

In this context, Uzbekistan attaches special importance to the restoration of deep historical and cultural relations in order to create a solid foundation for enhancing connectivity. After 2016, the country’s modern foreign policy is based on the synergy of pragmatic economic and transport partnership and the recognition of the common historical destiny of the macroregion.

At the same time, within the framework of the “Termez Dialogue”, projects are being formed for the joint study of Buddhist and Islamic heritage. The exceptional syncretism of the monuments of southern Uzbekistan (Kara-Tepe, Fayaz-Tepe and Kampyrtepa) reflects the historical synthesis of Indian, Hellenistic, Iranian and Central Asian traditions, marking the routes of the transfer of Buddhism from India to East Asia.

A new stage of civilisational synthesis is associated with the integration of the region into the Islamic space from the eighth century onward. Termez became one of the key intellectual centres of the Muslim world, as evidenced by the influence of Sufi networks and the legacy of the outstanding thinker al-Hakim at-Termizi, whose works retain authority in both Central and South Asia. In the Timurid era, these ties served as a basis for the formation of the unique Indo-Muslim civilisation of the Great Mughals, whose origins directly go back to the cultural matrix of Mawarannahr.

Relying on this historical and civilisational foundation, Tashkent today advocates the creation of a common cultural and humanitarian platform for Central and South Asia, one that demonstrates a high degree of complementarity with the foreign policy strategies of key South Asian states.

India: New Delhi views Uzbekistan’s initiatives through the prism of its own Connect Central Asia concept. Cultural and historical parallels (the Baburid era, Sufism and Buddhist heritage) enable India to expand its humanitarian presence in the region, as reflected, in particular, in the opening of branches of leading Indian universities (Amity and Sharda) in Uzbekistan.

Pakistan: For Islamabad, deep spiritual ties with Samarkand and Bukhara are critically important. The development of programmes of “ziyarat tourism” (pilgrimage tourism) acts as a catalyst for humanitarian contacts and contributes to the growth of mutual trust necessary for implementing large-scale trans-regional transport projects.

Afghanistan: For Kabul, Uzbekistan’s depoliticised initiatives open a legitimate channel of interaction with the outside world, allowing the country to integrate into regional economic processes without being drawn into political confrontation.

The strategic potential of the macro-region is closely linked to its demographic characteristics. Central and South Asia are among the youngest regions in the world: the share of the population under 30 exceeds 60 per cent, while the median age is about 28. This demographic resource serves as a key driver of sustainable growth and the activation of intersocietal ties, which makes the development of human capital particularly urgent.

In these conditions, joint work in the field of human capital development becomes increasingly important. This includes the training of qualified personnel, the expansion of scientific and academic cooperation, the exchange of knowledge and technologies, and the intensification of youth and public contacts.

Uzbekistan is consistently scaling up inter-university and scientific and academic cooperation in the macro-region. A practical example of this activity is Termez, where programmes of vocational and language training for Afghan students have been launched with the support of international organisations. As a result, the city is being transformed into a major educational and humanitarian hub at the junction of the two regions.

In this context, Tashkent’s modern initiatives aimed at restoring trans-regional connectivity appear as a natural continuation of a historical model of development determined by the deep interdependence of states.

The contemporary foreign policy course of Uzbekistan is based on the synergy of pragmatic economic and transport partnership and the recognition of the macro-region’s shared historical destiny. In implementing this strategy, Termez, an ancient intellectual and logistical hub linking Mawarannahr, Afghanistan and the Indian subcontinent, acquires special significance.

Its historical role was shaped by a unique geostrategic position. Already in antiquity, Termez was an important centre of the Greco-Bactrian and Kushan worlds. It was the Kushan Empire that created one of the first stable political and economic spaces uniting the territories of present-day Central Asia, Afghanistan, Pakistan and northern India.

Today, Uzbekistan is institutionalising this heritage by creating new multilateral dialogue platforms. The key element of this architecture is the international platform “Termez Dialogue”, which is focused on developing transport and logistical connectivity, humanitarian diplomacy and academic interaction.

The expert community notes the qualitative evolution of this platform. The second session of the “Termez Dialogue”, scheduled for 4–6 June 2026 in Tashkent, Termez and Samarkand, marks a transition from conceptual discussions to the formation of applied mechanisms of cooperation in politics, logistics, climate adaptation and cultural exchange. The forum is acquiring the status of a specialised international platform for developing multilateral approaches to regional security and the Afghan settlement process.

The fundamental distinction of Uzbekistan’s approach lies in its reliance on the concept of “inclusive regionality”, which presupposes the obligatory inclusion of Afghanistan in the system of trans-regional ties. Tashkent proposes an alternative model of diplomacy, viewing humanitarian cooperation as an instrument for reducing interstate contradictions and overcoming regional fragmentation.

Thus, contemporary Uzbekistan is carrying out a conceptual rethinking of the historical experience of interaction between Central and South Asia in relation to the realities of the twenty-first century. By developing the “Termez Dialogue” platform and stimulating trans-regional connectivity, Tashkent is transforming historical memory of a single civilisational space into a viable mechanism of multilateral integration, humanitarian partnership and indivisible regional security.

Alisher Sabirov

Doctor of Historical Sciences

Nizami National Pedagogical University

of Uzbekistan

Just a few years ago, Central Asia and the Caucasus were rarely considered major players in the global technology landscape. Today, that perception is rapidly changing. The region is steadily strengthening its position on the global innovation map, attracting international investors, technology companies, entrepreneurs, and venture capital.

What makes this transformation particularly remarkable is that the countries of the region are not developing as competitors, but as complementary innovation ecosystems. Each country is building on its own competitive strengths while contributing to a shared environment for innovation, knowledge exchange, investment, and cross-border collaboration.

A Region Evolving into a Unified Innovation Ecosystem

The progress made by Uzbekistan and Kazakhstan over the past few years illustrates this transformation particularly well. In 2026, Uzbekistan was named Country of the Year by StartupBlink, recognizing the country's remarkable startup ecosystem growth. Venture investments increased more than fivefold, the number of startups surpassed 1,200, and the country is now home to 22 venture capital funds managing over $200 million in combined assets.

Both Uzbekistan and Kazakhstan have prioritized building long-term innovation infrastructure. Each country has established its own Fund of Funds to accelerate venture investment and help startups scale internationally, while Kazakhstan's fund has reached a total capitalization of $1 billion.

Today, both countries have produced unicorn companies, developed globally recognized innovation institutions—including IT Park Uzbekistan and Astana Hub—and continue to earn the confidence of international investors.

From Bilateral Cooperation to a Regional Alliance

A major milestone in regional integration came with the launch of the Central Asian Innovation Hubs (CAIH) initiative in 2024 by IT Park Uzbekistan and Astana Hub. In 2025, IT Park Tajikistan joined the alliance, further expanding regional collaboration.

Since its establishment, dozens of startups from across the region have gained access to international markets in Europe and Asia through participation in major global events such as London Tech Week, GITEX Kazakhstan, and Digital Kazakhstan.

The alliance also established two international innovation hubs in 2025: Khan Tengri Innovation Hub in Shanghai and Tumar Innovation Hub in Dubai. Today, these hubs actively support startups in entering the U.S., European, Chinese, and Middle Eastern markets, facilitating investment opportunities while strengthening research and development capabilities.

Another important initiative has been the launch of joint Market Entry Programs. In 2025 alone, more than 50 startups expanded into international markets, including the United States, the UAE, China, and others. More than 20 startups also joined leading global acceleration programs, including Draper University Hero Training Program (6 startups), AlchemistX (10 startups), and the Silicon Valley Residency Program (6 startups).

Expanding Toward the Caucasus

Discussions are currently underway to bring Azerbaijan into this growing regional partnership, creating an integrated innovation ecosystem that connects Central Asia with the Caucasus.

One of the platforms where this collaboration is already taking shape is the international innovation summit INMerge. Over the past five years, the forum has evolved from a relatively small corporate gathering into one of the largest technology events in Central Eurasia. Today, INMerge brings together participants from Azerbaijan, Uzbekistan, Kazakhstan, Georgia, Türkiye, and many other countries to discuss artificial intelligence, venture capital, digital infrastructure, startup development, and international cooperation.

In 2026, INMerge expanded beyond Baku for the first time by launching its regional Roadshow format across major innovation hubs. One of its flagship destinations was Tashkent, underscoring Uzbekistan's growing role as a leading innovation hub in Central Eurasia.

For startups, events like INMerge represent far more than networking opportunities—they provide direct access to international investors, strategic partners, and new global markets.

Digital Startup Awards: A Gateway to the Global Stage

Another example of the region's growing integration is the Digital Startup Awards, an initiative launched by Uzbekistan to foster a more interconnected innovation ecosystem. The program brings together startup founders from eight countries across Central Asia, the Caucasus, and Mongolia, and has become one of the region's leading platforms for identifying high-potential technology ventures.

More than a competition, the Digital Startup Awards offers a comprehensive growth platform for founders looking to scale their businesses, strengthen entrepreneurial capabilities, expand internationally, and secure investment.

Interest in the program continues to grow. In 2025, the Digital Startup Awards reached a new milestone by receiving a record 1,025 applications from startups across Central Asia, the Caucasus, and Mongolia.

The initiative aims to identify promising technology companies, connect them with investors and strategic partners, support their international expansion, and deepen collaboration among regional innovation ecosystems. Through programs like these, talented founders gain opportunities to compete on the global stage, while Central Asia, the Caucasus, and Mongolia continue to strengthen their position as one of the world's most dynamic emerging innovation regions.

IT Park Uzbekistan

TASHKENT — Uzbekistan has unveiled its updated Uzbekistan–2030 Strategy, marking a major step in the country’s journey toward national reform and development. Officials emphasise that implementing reform requires responsibility, consistency, institutional discipline, and public legitimacy. The government has revised the strategy following extensive public consultations, ensuring that citizens’ voices are reflected in the results-based policy framework. Aligned with international standards and designed to advance the United Nations Sustainable Development Goals, the strategy positions Uzbekistan as an active participant in the global development agenda.

A defining feature of the strategy is its emphasis on measurable implementation. Authorities have established 100 goals to be assessed annually through 2030, each with designated institutions, mechanisms, and financing sources. This approach creates a governance model centred on accountability and transparency. International organisations and development partners will also be able to monitor progress, access reports, and contribute expertise — a move officials say will further enhance transparency and attract external support.

The first major priority of the strategy is to create opportunities for every person to realise their potential, with 44 goals linked to human development. These include targets for expanding access to education, healthcare, employment, and social protection. In education, the government aims to boost pre-school coverage to 80 per cent, achieve universal participation in school-preparation groups, and modernise schools with electronic boards and new-generation textbooks. Teachers’ salaries are set to double, and 500,000 education staff will receive ongoing professional development. Higher and vocational education goals include expanding access, improving graduate employability, and increasing the number of internationally accredited university programs to 200.

Officials have tied human capital development to advances in science and innovation. The strategy calls for raising spending on science to 1 per cent of GDP, increasing the number of research and innovation projects, and propelling Uzbekistan into the top 60 of the Global Innovation Index.

Healthcare reforms aim to increase average life expectancy to 78 years, with health expenditure projected to rise to 5 per cent of GDP. Priorities include reducing premature deaths from major diseases, improving maternal and child health, and expanding digital healthcare services. Broader social goals include increasing women’s representation in leadership and civil service, eliminating extreme poverty, reducing unemployment to 4 per cent, and training 2 million citizens in new skills and foreign languages.

Youth policy is another central pillar, with goals to offer free foreign language instruction to 7 million young people, train 3 million in modern professions using AI tools, and employ 300,000 in the IT sector. The strategy also seeks to boost participation in sports, culture, and the arts nationwide.

The second major priority is sustainable economic growth. The government has set targets to increase GDP from $145 billion to over $240 billion by 2030, and GDP per capita from $3,800 to $5,800. Other economic targets include keeping inflation at 5 per cent, public debt below 50 per cent of GDP, and the budget deficit under 3 per cent.

Plans for industry focus on diversification and value addition, with aims to boost high-tech output, raise car production to 1 million units (including 200,000 electric vehicles), create 1.8 million industrial jobs, and increase industrial value added to $60 billion. The government expects over 400 strategic projects worth $150 billion in foreign investment. Financial reforms will include bank privatisation, expanded credit, and the development of Islamic finance.

The strategy also emphasises the green economy. Officials want renewable energy to account for 54 per cent of total generation and to reduce greenhouse gas emissions by 35 per cent. Transport and logistics improvements will include expanding transit freight, repairing or building roads, and modernising airports. In agriculture, the focus is on boosting productivity and exports, with a target of $10 billion in agricultural exports.

Environmental protection and water saving are also key goals. Uzbekistan plans to improve water-use efficiency by 25 per cent, fully meter drinking water, and expand water-saving technology in agriculture. Other environmental targets include increasing urban greenery, expanding forested land, and creating new green spaces in the Aral Sea region and deserts. The government also aims to improve biodiversity, waste management, air quality, and climate resilience.

Strengthening the rule of law and public service is another core priority. The strategy aims to improve local governance, expand electronic public services, and reduce emergency response times. Legislative reforms will focus on increasing the number of directly applicable laws and reducing the regulatory burden. At the same time, additional measures will promote meritocracy, judicial reform, human rights, anti-corruption, and public oversight.

The strategy also calls for advancing a safe and peace-loving state by promoting an active foreign policy, regional cooperation, support for Uzbeks abroad, and better-managed labour migration. Targets include increasing the number of visa-free destinations for Uzbek citizens, boosting trade turnover with neighbours, expanding diplomatic representation abroad, and advancing WTO accession. Other goals include defence modernisation, disaster preparedness, and strengthening public trust and interethnic harmony.

A formal monitoring system will track implementation through a digital platform, using colour-coded performance categories to flag progress or delays. The Development Strategy Centre will play a key role in monitoring strategic indicators and recommending improvements.

The Uzbekistan–2030 Strategy stands out for combining ambition with a structured, results-oriented approach. Rather than isolated initiatives, the government is pursuing a coordinated, accountable, and long-term transformation agenda. The strategy is expected to guide Uzbekistan’s development and reform efforts well into the next decade.

By Eldor Tulyakov,

Executive Director, Development Strategy Centre

Uzbekistan is entering a period in which domestic transformation is becoming increasingly interconnected with global economic processes. The country has set ambitious goals: accelerating economic growth, advancing the technological modernization of industry, attracting large-scale investment, expanding exports and integrating into international value chains.

This is precisely why discussions within the G20 have practical relevance for Uzbekistan. The issues addressed by the Group of Twenty — sustainable development, industrialization, the energy transition, trade, digitalization, food security, access to capital and the modernization of financial institutions — largely align with the challenges facing the country. The difference lies mainly in scale: while the G20 shapes the key priorities of the global economy, Uzbekistan translates similar objectives into a concrete national development agenda.

The G20 brings together the world’s largest advanced and emerging economies, as well as the European Union and the African Union. Its members account for approximately 85% of global GDP, more than 75% of international trade and around two-thirds of the world’s population. For Uzbekistan, the G20 represents a platform where major global trends are shaped, including the cost of capital, the structure of demand, investment flows, industrial standards, trade rules and approaches to sustainable growth.

Investment: A Focus on Trust and Long-Term Capital

The global investment landscape is changing. Capital is becoming increasingly selective, while investors are paying greater attention not only to market size and natural resources, but also to the quality of institutions, regulatory predictability, the protection of business rights, access to infrastructure and the clarity of the legal environment.

This shift is particularly relevant for Uzbekistan. In recent years, attracting investment has become one of the central pillars of the country’s economic policy. At the Fifth Tashkent International Investment Forum, President Shavkat Mirziyoyev noted that Uzbekistan’s economy grew by 7.7% in 2025, while the country attracted USD 43 billion in foreign investment. GDP is expected to exceed USD 180 billion in 2026.

These figures reflect not only strong economic growth, but also the emergence of a new model of engagement with the international business community. Uzbekistan is strengthening its role as a stable platform for long-term capital, industrial cooperation and the regional expansion of companies.

The establishment of the Tashkent International Financial Centre plays an important role in this process. Its legal framework provides for a special regulatory regime, elements of English common law, an independent commercial court, the free movement of capital, the ability to conduct transactions in any currency, and the development of fintech, digital assets and green finance.

Such initiatives enhance Uzbekistan’s attractiveness to international businesses. They create an environment in which capital protection, transparent rules, modern financial instruments and institutional trust become integral components of the country’s overall investment architecture.

Against this backdrop, practical cooperation between Central Asia, international development banks, export credit agencies, sovereign wealth funds and the private sector is becoming increasingly important. For Uzbekistan, it is essential to establish mechanisms that facilitate the preparation and financing of specific initiatives in transport and digital infrastructure, power grids, energy storage systems, water conservation, agricultural technologies and the processing of critical minerals.

This approach is fully aligned with the priorities of the G20: investment should support not only the implementation of individual projects, but also the development of resilient infrastructure for long-term growth. Uzbekistan, for its part, is ready to offer its partners a well-prepared portfolio of projects and stable long-term conditions for their implementation.

Industry: Transitioning to a More Sophisticated Economy

One of the central themes of the G20 agenda is the development of a new generation of industry. This extends beyond increasing production volumes to encompass technological modernization, resilient supply chains, localization, advanced processing, innovation and the creation of high-skilled jobs.

For Uzbekistan, this approach is of direct relevance. The country is steadily transitioning from an economic model primarily based on raw materials and traditional manufacturing advantages toward one in which processing industries, technology, industrial cooperation and the export of higher value-added products play an increasingly important role.

Over the coming years, Uzbekistan aims to increase industrial value added from USD 36.5 billion to at least USD 60 billion, while expanding output in high-technology and medium-high-technology industries by a factor of 2.5. In 2026, the country plans to launch 782 new industrial and infrastructure projects with a combined value of USD 52 billion.

This approach is fully consistent with modern industrial policy. Manufacturing is viewed not merely as the production of goods, but as the foundation for technological resilience, employment, export growth, energy efficiency, logistics and participation in global manufacturing value chains.

A broad range of opportunities is emerging for Uzbekistan across metallurgy, the chemical industry, electrical engineering, machinery manufacturing, automotive components, pharmaceuticals, construction materials, textiles, agro-processing and digital infrastructure. In each of these sectors, the country seeks not only to expand production volumes but also to deepen value-added processing, improve product quality and access new markets.

Critical minerals have also become an increasingly important topic. For the world's leading economies, they are closely linked to the energy transition, digitalization, battery technologies, industrial modernization and secure supply chains. For Uzbekistan, with its rich mineral resource base and developing metallurgical sector, this resource advantage can serve as the foundation for new industrial clusters and production partnerships with international investors.

At the same time, it is essential that such cooperation goes beyond the simple export of raw materials and instead focuses on creating complete value chains within the region. This includes advanced processing, technology transfer, workforce development, strengthening engineering capabilities and creating highly skilled jobs. Such a model will enable Uzbekistan to reinforce its industrial self-sufficiency while becoming an even more significant partner for major international markets.

Trade: Connectivity as a Driver of Competitiveness

The relevance of the G20 is particularly evident in the area of trade. The world's largest economies already occupy a prominent place in Uzbekistan's external economic relations.

Between January and May 2026, Uzbekistan's foreign trade turnover reached USD 32.8 billion. Its key trading partners include China, Russia, Kazakhstan, Türkiye, France, the Republic of Korea and Germany. Most of these countries are either G20 members or are closely integrated into its broader economic architecture.

Decisions taken by the world's largest economies have a direct impact on the conditions of Uzbekistan's foreign trade. Technical standards, quality requirements, rules of origin, tariff policies, logistics routes, environmental regulations and digital trade procedures have become part of the day-to-day business environment for Uzbek exporters.

As a landlocked country, transport connectivity is of particular strategic importance for Uzbekistan. In today's global economy, export competitiveness depends not only on product quality but also on the speed, cost and reliability of delivery. Consequently, the development of East-West and North-South transport corridors passing through Central Asia has become an integral part of the country's trade, transport and industrial policy.

Achieving this objective requires practical solutions, including the digitalization of transit procedures, mutual recognition of electronic transport documents and certificates, coordinated operation of border crossing points, the reduction of unjustified fees and the implementation of the "One Border – One Stop" principle. The effectiveness of these measures should be assessed not by the number of agreements signed, but by tangible reductions in delivery times and transportation costs.

At the same time, Uzbekistan's export performance demonstrates important structural changes. Between January and May 2026, exports of goods excluding gold increased by 29.4%. This indicates that the country is steadily expanding the non-resource component of its foreign trade while strengthening its competitive position in industrial products, textiles, agro-processing, services, transport and other sectors.

At this stage, it is important not only to increase export volumes but also to improve their quality. Modern trade requires internationally recognized certification, consistency, strong branding, efficient logistics and the ability to meet the standards of major global markets. International standards and domestic reforms are becoming increasingly interconnected: external markets establish the requirements, while government policy helps businesses meet them.

WTO: Rules, Trust and Market Access

Uzbekistan's accession to the World Trade Organization is now approaching its final stage. This is no longer merely a technical process, but one of the key components of the country's economic transformation toward a more open, predictable and competitive model of development.

In June 2026, the issue gained additional political and practical momentum. During the meeting between President Shavkat Mirziyoyev and United States Trade Representative Jamieson Greer, particular attention was devoted to cooperation in the context of Uzbekistan's accession to the WTO and continued U.S. support for this process. At the same time, the United States officially reaffirmed its support for Uzbekistan's membership and recognized the substantial progress achieved by the country in this area.

For Uzbekistan, WTO membership represents the institutionalization of a new economic model based on reducing unnecessary trade barriers, enhancing regulatory transparency, improving the business and investment climate, expanding opportunities for exporters and strengthening the confidence of the international business community in the Uzbek market.

Integration into the WTO framework is closely linked to Uzbekistan's investment, industrial and trade agenda. For investors, it serves as a signal of greater policy predictability. For exporters, it provides access to a transparent and rules-based international trading system. For industry, it creates incentives to improve product quality, competitiveness and compliance with modern international standards. Accordingly, WTO accession should be viewed as a natural continuation of the comprehensive reforms already underway.

The New Economy: Global Trends and Uzbekistan’s Development Path

The global economy is undergoing profound structural transformation. Supply chains are being reshaped, competition for capital and technology is intensifying, and the importance of energy resilience, food security, digital infrastructure and industrial capabilities continues to grow. These are precisely the issues at the heart of the G20 agenda.

For Uzbekistan, this transformation reinforces the relevance of the country's chosen development path. The nation is already advancing in areas that are becoming fundamental to the new economy, including investment openness, industrial modernization, transport connectivity, energy development, digital transformation, export expansion and integration into the international rules-based trading system.

As the world's leading economies focus on supply chain resilience, new opportunities emerge for Uzbekistan in logistics, industrial cooperation and regional specialization. The global energy transition is increasing demand for renewable energy, critical minerals and energy-efficient industries. Food security concerns are enhancing the importance of agro-processing and cooperation with neighboring markets. Meanwhile, the growing emphasis on digitalization and financial resilience underscores the strategic importance of fintech, IT infrastructure, artificial intelligence and modern financial institutions.

At the same time, the transition to a low-carbon economy and the adoption of new digital standards must be both fair and practically achievable for developing countries. For Uzbekistan, it is essential that new international requirements be accompanied by transparent rules, reasonable transition periods, mutual recognition of equivalent standards, access to technology and financing, and support for exporters in implementing carbon accounting, product traceability and international certification systems.

In this context, the priorities discussed within the G20 closely align with the reforms already underway in Uzbekistan. The G20 therefore provides an international framework in which the country's development strategy receives both practical relevance and additional validation.

Strategic Priorities for Growth: Capital, Technology and Exports

From the perspective of investment, industry and trade, the G20 agenda highlights several strategic priorities for Uzbekistan.

The first is capital. Uzbekistan must continue developing an investment ecosystem in which international businesses see not only promising projects but also long-term institutional reliability. This requires further development of the country's financial centre, special legal regimes, industrial zones, digital public services, investor protection mechanisms and comprehensive investment facilitation.

The second priority is industry. Uzbekistan should continue strengthening its position in higher value-added manufacturing by expanding advanced processing, developing local component industries, enhancing engineering capabilities and fostering technological partnerships. This will enable the country to become a fully integrated participant in increasingly sophisticated global manufacturing value chains.

The third priority is trade and connectivity. Export policy should be built around quality, international standards, certification, logistics, branding and reliable access to global markets. For a landlocked country, this also requires continuous investment in transport corridors, transit digitalization, lower logistics costs and greater supply chain predictability. The steady growth of non-resource exports already demonstrates that Uzbekistan is moving in the right direction, while WTO accession is expected to provide additional momentum and long-term stability.

The fourth priority is partnerships. Most of Uzbekistan's principal trade and investment partners are either G20 members or closely connected to its broader economic architecture. Accordingly, cooperation with China, Russia, Türkiye, the Republic of Korea, Germany, France, India, Japan, the United States, the European Union and the Middle East should be viewed as part of a unified strategy for integration into global networks of capital, technology and markets.

Uzbekistan and the G20: Shared Priorities, Practical Outcomes

For Uzbekistan, the G20 reflects the global processes that are becoming increasingly intertwined with the country's own development trajectory. While the G20 focuses on sustainable growth, Uzbekistan is implementing large-scale economic reforms. As industrialization remains at the forefront of the international agenda, the country is strengthening its industrial base and pursuing greater technological sophistication. As discussions center on trade and investment, Uzbekistan continues opening its markets, improving its regulatory framework and establishing modern institutions for investment and capital.

The greatest value of the G20 agenda for Uzbekistan lies in the convergence of strategic priorities. The global economy is entering a new era in which capital, technology, production and trade are being fundamentally reconfigured. In this environment, Uzbekistan seeks not only to adapt to the evolving economic landscape but also to secure a stronger and more competitive position through structural reforms, openness, industrial development and long-term international partnerships.

Central Asia plays a particularly important role in this process. The region is steadily emerging as a strategic bridge between major global markets, while Uzbekistan is becoming one of the key platforms where transport corridors, industrial value chains and investment projects are translated into tangible economic outcomes.

This is the practical significance of the G20 for Uzbekistan. It provides a clearer understanding of the direction of the global economy, enables the country to align international developments with its national priorities and transforms global trends into concrete opportunities for sustainable growth. For Uzbekistan, this represents the continued implementation of its own long-term development strategy, built upon comprehensive reforms, national interests and the growing strategic potential of Central Asia.

At the beginning of the 20th century, the Aral Sea was the largest lake in Central Asia. Starting from the second half of this century, as a result of the drying up of the sea, a new desert ecosystem-the Aralkum Desert-was formed at its bottom. This area is currently considered one of the largest anthropogenic desert ecosystems in Central Asia. As a result of the decrease in sea level, more than 60,000 km² of wetlands have turned into land. 

The ecological changes occurring in this region have had a significant impact not only on the climate and soil composition but also on biological diversity. As a result, the distribution area of species adapted to wetland ecosystems has sharply decreased. At the same time, the Aralkum Desert, which emerged between the Ustyurt Plateau and the Kyzylkum Desert, led to the formation of a new bird community as a unique and unique desert ecosystem. Therefore, the scientific study of the state of the desert ecosystem formed on the dried seabed and its ornithological fauna, the distribution of species across the biotopes of these ecosystems, and adaptation mechanisms is of urgent importance.

In accordance with this, the Institute of Zoology of the Academy of Sciences of the Republic of Uzbekistan Scientific research is being conducted within the framework of the applied project AL-9424104883-R1 on the topic “Current state of the Aralkum avifauna, species adaptation to environmental changes, and conservation measures”. This project was deemed suitable based on the competition requirements announced by the Agency for Innovative Development under the Ministry of Higher Education, Science and Innovation within the framework of the 94th round and has been funded by the Fund for Financing Science and Supporting Innovation since the second half of 2025. The goal of the project is to identify important areas and biotopes for the ornithological fauna of the Aralkum Desert, to study species diversity, adaptation to environmental changes, biological characteristics, and distribution.

In accordance with the calendar plan of this applied project, a field expedition to the Aralkum Desert in the territory of Muynak district of the Republic of Karakalpakstan was carried out in October–November 2025. Ornithological studies were conducted in areas divided into 10 × 10 km grid cells using the ArcGIS software. A total of 68 grid cells were surveyed using transect and point count methods. Out of these, pedestrian transect observations were conducted in 56 grid cells, with a total length of 140 km. In the remaining 12 grid cells, point count observations were carried out. The grid-based approach to studying the area is important for identifying patterns in the distribution of birds across biotopes and for revealing their association with specific landscape elements.

As a result of scientific research conducted to date, it has been established that the Desert ecosystem formed on the dried seabed incorporates the following biotopes:

Saline deserts are characterized by high salt concentrations; specific species of halophytic plants predominate here.

Sandy deserts consist of wind-driven barchans, semi-fortified, and fortified sands, in which ephemerals, perennial herbs, semi-shrubs, and shrubs are found.

Stony and gravelly deserts cover ancient islands in the central part of the Aralkum Desert and adjacent territories.

Clay deserts are open plains in the western and southwestern parts of the Aralkum Desert.

Hills and chinkes include ancient coastal walls and adjacent hills in the western and northern parts of the Aralkum Desert.

Furthermore, in the northwestern part of this territory, there is a remnant of the Aral Sea preserved as a natural lake, as well as a number of artificial basins formed by drainage and collector waters in the southern regions, which are of great importance to hydrophilic birds as a biotope for wetlands.

During the field studies, data were collected on the autumn diversity, distribution, and abundance of 91 bird species belonging to 12 orders and 26 families across 6 types of biotopes. Among the recorded bird species, 13 species - Cygnus olor, Cygnus cygnus, Phoenicopterus roseus, Falco cherrug, Haliaeetus albicilla, Aegypius monachus, Circus macrourus, Aquila nipalensis, Aquila heliaca, Aquila chrysaetos, Chlamydotis macqueenii, Limosa limosa, and Glareola nordmanni — are included in the Red Data Book of the Republic of Uzbekistan. Additionally, 9 species are included in the International Union for Conservation of Nature (IUCN) Red List, 17 species in the Annexes to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES), and 28 species in the Annexes to the Convention on the Conservation of Migratory Wild Animals (CMS).

The research results showed that the areas of the Aralkum Desert with the highest ornithological fauna diversity correspond to sandy desert biotopes formed parallel to the chink, bordering the eastern part of the Ustyurt Plateau. This biotope was formed at the boundary of desert and steppe ecosystems, characterized by diverse vegetation and favorable habitat conditions for birds belonging to various ecological groups.

It was also found that hills and chins are of particular importance as favorable habitats for many species during the autumn season. In the remaining parts of stony and gravelly deserts and sandy deserts, highly specialized species for living in arid conditions were observed, while in saline and clay deserts, species diversity was noted to be at a minimum level.

Research has shown that the remnants of the Aral Sea, preserved as a natural lake, are of relatively low importance for waterfowl and waterfowl; conversely, artificial reservoirs in southern regions serve as an important wetland habitat for hydrophilic birds.

The Aralkum desert, formed on the dried bed of the Aral Sea, emerged as a unique new desert ecosystem within a short historical period. Conducted studies have shown that various biotopes have formed in this area, directly influencing the distribution and diversity of birds. The highest ornithological diversity was observed in sandy desert biotopes, while this indicator was low in saline and clay areas. The research results serve as an important scientific basis for identifying important habitats for birds in the Aralkum region and developing measures for their protection.

Institute of Zoology of the Academy of Sciences of
the Republic of Uzbekistan

Uzbekistan's upcoming elections for the Legislative Chamber of the Oliy Majlis (Parliament) and the Councils of People's Deputies, scheduled for October 27th, are not just a routine event. They mark a significant milestone in the nation's democratic journey, introducing groundbreaking changes that promise to transform the electoral landscape. The recent meeting of the Central Election Commission unveiled several key innovations that will ensure greater efficiency, transparency, and inclusivity, making these elections a matter of global interest.

For the first time in the nation's history, the Legislative Chamber elections will employ a mixed electoral system, combining majoritarian and proportional representation. This change means that voters will elect seventy-five deputies directly, while another seventy-five will be chosen based on party votes. This system aims to create a more balanced and representative legislature, enhancing democratic legitimacy and ensuring a broader spectrum of political voices.

One of the most notable advancements in Uzbekistan's electoral system is the full digitization of election commission activities. The introduction of the 'E-Saylov' information system is a significant leap forward, revolutionizing the election process. This digital platform not only streamlines the process, reducing bureaucracy and document handling, but also ensures a smoother, more efficient, and transparent electoral experience. It automates interactions between election commissions, political parties, candidates, observers, and the media, providing real-time statistical data, candidate information, and interactive maps. This technological leap empowers voters with unprecedented access to essential election-related information, making the electoral process more inclusive and transparent.

Inclusivity is another cornerstone of these elections. New election legislation requires political parties to ensure that at least 40% of their candidates are women, a progressive move towards gender equality in political representation. This requirement not only aligns Uzbekistan with advanced democratic standards but also enriches the political discourse by incorporating diverse perspectives.

The elections are taking place in a context where the updated Constitution has significantly enhanced the powers of parliament and representative bodies. The Legislative Chamber's powers have increased from 5 to 12, and the Senate's from 12 to 18. Parliament's oversight functions over executive, judicial, law enforcement, and special services have also been expanded. Additionally, the leadership of local Councils of People's Deputies by hokims (governors) has been abolished, transferring 33 powers previously held by hokims to local Councils to increase their role in resolving critical state issues.

The slogan "My Choice—My Prosperous Homeland" not only captures the spirit of these elections but also reflects the unwavering commitment of Uzbekistan's leadership to democratic state-building and citizen empowerment. With over 120,000 election commission members, 70,000 citizens, and numerous international observers participating, the elections are set to be a transparent and inclusive process, further demonstrating this commitment.

In conclusion, Uzbekistan is setting a remarkable precedent with its upcoming elections by embracing technological innovation and inclusivity. These initiatives will undoubtedly pave the way for a more prosperous and democratic future, showcasing Uzbekistan’s dedication to advancing democratic principles and practices.

Eldor Tulyakov,

The Executive Director,

Development Strategy Centre (Uzbekistan)

Dear compatriots!

Sincerely, from the bottom of my heart, I congratulate you, all our people on the holiday of Kurban Hayit, which has come in our country, which is being transformed and illuminated with the light of peace, kindness and harmony every day.

In these blessed moments we all deeply feel the spirit and joy of the great holiday and give immense gratitude to the Almighty for the fact that we meet such bright days together with our people.

Today, Kurban Hayit, firmly established in people's lives as a symbol of mercy, generosity and humanism, is gaining more and more significance, consonant with the content of large-scale reforms in the New Uzbekistan, in which respect for human honor and dignity comes to the fore in all spheres.

It should be especially noted that our sacred religion and this bright holiday, which embodies its humanistic essence, serves as a source of strength and inspiration for us in all good deeds aimed at strengthening the atmosphere of peace and tranquility, friendship and cohesion in mahallas and families, caring for the older generation, youth and women, low-income families, and making sure that no one is left behind.

Dear friends!

In these bright days, when our hearts are filled with joy, we talk about the great work carried out in recent years to revive the original spiritual values, to improve the sacred places, to create favorable conditions for the Muslims of the country to freely perform religious rites, including hajj and umrah.

In a short period of time, international scientific centers of Imam Bukhari, Imam Termezi and Imam Maturidi have been organized. The memorial complexes of Abu Iso Termezi, Abu Muin Nasafi, Sulton Uwais Karani and Suzuk Ota have been radically transformed. Work on the construction and equipping of the Imam Bukhari memorial complex and the Centre for Islamic Civilization is continuing apace. Majestic mosques are being built in many towns and villages.

Over the past seven years, more than 60 thousand Muslims of the country have made the Hajj. These days 15 thousand more of our compatriots are making pilgrimage to two sacred cities - Mecca and Medina, having realized their most cherished dream.

In such blessed moments, when good thoughts come true, we wish them with all our heart to fully perform the rites of Hajj and safely return to their homeland.

On the eve of the celebration of Hayyit, during our telephone conversation with the Chairman of the Muslims' Board, the Honorable Mufti Sheikh Nuriddin Kholiknazar, who is staying in the holy Mecca, he emphasized the created conditions necessary for our compatriots to perform the rites of Hajj. We hope that, having returned home, our pilgrims will become an example in further strengthening the atmosphere of kindness and mutual assistance in the society, in the struggle of enlightenment against ignorance, strengthening the education of youth and establishing harmony in families.

Dear compatriots!

Today we sincerely congratulate our compatriots abroad on this holiday, wish them health, happiness and success.

We convey warm congratulations to believing Muslims in the states of near and far abroad and sincere wishes of peace and progress to their peoples and countries.

May the ongoing wars and conflicts in different regions cease! May peace reign on the Earth forever!

Dear friends!

Today, together with our multinational people, we are building a new Uzbekistan. The new Uzbekistan is a new life, a new development, a happy future.

If we unite more firmly and continue the initiated reforms with even greater determination, we will undoubtedly achieve this great goal.

We will surely raise our children to be a generation of true patriots, highly educated, possessing modern knowledge and professions.

I wish you happiness and success on this path.

May the Almighty protect our nation!

I once again congratulate you on the holy holiday of Kurban Hayit, wish you health, peace and prosperity to your families.



Shavkat Mirziyoyev,

President of the Republic of Uzbekistan

President of Uzbekistan Shavkat Mirziyoyev will pay a state visit to Georgia on July 2-3

Bilateral relations between Uzbekistan and Georgia are underpinned by profound, centuries-old historical ties, and are undergoing a systematic, dynamic evolution across the political, economic, cultural and humanitarian spectrums in the contemporary era.

Two nations are bound not only by ancient trade routes but also by a comprehensive cooperation firmly anchored in mutual respect, trust, and a profound alignment of strategic interests. In recent years, high-level exchanges, substantial expansion of trade and economic ties and intensification of cultural exchange have successfully elevated bilateral relations to a qualitatively new and historic milestone.

Diplomatic relations between Uzbekistan and Georgia were established on August 19, 1994. Since then, the political dialogue between the two sovereign states has consistently and progressively advanced. In September 1995, Treaty of Friendship and Cooperation was signed, serving as the foundational legal instrument underpinning bilateral relations.

In recent years, regular engagements between Heads of State and Government have substantially enhanced the foundation of bilateral political trust. In particular, between 2022 and 2025, a profound impetus was imparted to the expansion of comprehensive cooperation through reciprocal official visits by the Prime Ministers of both nations, high-level presidential dialogues, sessions of the Joint Intergovernmental Commission and institutionalized political consultations between the respective Ministries of Foreign Affairs.

On March 5^th, 2025, President of Uzbekistan received a high-level delegation led by the Prime Minister of Georgia, Irakli Kobakhidze, who arrived in our country on an official visit. During the meeting, the sides comprehensively reviewed matters pertaining to the further expansion of mutually beneficial cooperation across the trade, economic, investment, transport, logistics, tourism and cultural dimensions. It was noted with profound satisfaction that institutional contacts at the parliamentary and governmental levels of the two nations have intensified significantly.

Inter-parliamentary cooperation is likewise undergoing a consistent and progressive evolution. Concurrently, an inter-parliamentary cooperation group dedicated to fostering relations with the Parliament of Georgia functions actively within the Legislative Chamber of the Oliy Majlis. Furthermore, representatives of Georgia routinely participate as international observers in the presidential and parliamentary elections conducted within Uzbekistan.

A free trade regime operates between the two nations, serving as a catalyst for the sustained growth of reciprocal trade turnover. Over the past five years, the volume of bilateral trade has increased two and a half times, accompanied by a rise in the number of joint ventures and a substantial expansion in the volume of cargo transportation.

Furthermore, a digital bank established with the participation of Georgian investors is operating successfully within Uzbekistan.

Furthermore, in June 2025, “Made in Uzbekistan” National Exhibition was organized in Tbilisi, featuring the active participation of over one hundred premier Uzbek enterprises representing the textile, electrical engineering, pharmaceutical, food processing, mechanical engineering and other pivotal industrial sectors.

Matters of transit, transport, and logistical interaction occupy a distinctive place within the architecture of bilateral cooperation. In June of the current year, the official opening ceremony of the modernized Baku - Tbilisi - Kars railway was hosted in the city of Akhalkalaki. In the strategic perspective, the seamless integration of this transport corridor with the construction of the China - Kyrgyzstan - Uzbekistan railway will substantively reinforce the comprehensive transit potential of our respective nations.

Cultural cooperation between Uzbekistan and Georgia is likewise anchored in rich, enduring traditions. Cinema days, cultural festivals, as well as institutional events in the spheres of science and education, are organized on a regular basis.

In the preceding year, Days of Uzbek Culture and Cinema were successfully hosted in Tbilisi, while in the current year, Days of Georgian Culture were celebrated with grand success in Tashkent.

One of the enduring symbols of the profound bonds of friendship uniting the two sovereign states is a central avenue in the capital of Uzbekistan, which proudly bears the name of the eminent Georgian poet Shota Rustaveli, alongside a monument erected in his honor.

Concurrently, in 2025, by the decree of the Tbilisi City Assembly, a prominent central park in the capital of Georgia was officially named after the great Uzbek poet and thinker Alisher Navoi. This monumental gesture stands as a vivid testament to the deep, reciprocal reverence that both nations possess for each other's rich history and cultural heritage.

Today, direct air services operating on the Tashkent - Tbilisi and Tashkent - Batumi routes serve to further catalyze the robust expansion of tourism and business linkages between the two nations.

At present, approximately four thousand citizens of Georgian heritage reside in Uzbekistan. Furthermore, since 1994, the Georgian Cultural Center “Megobroba” ("Friendship") has successfully functioned in Tashkent, contributing significantly to the preservation and promotion of their distinct cultural identity.

It should be noted that the relations between the peoples of Uzbekistan and Georgia trace their roots back to deep antiquity. Ancient authors historically documented the existence of trade linkages between Khwarazm and Colchis, which were actively maintained along Amu Darya river and across the Caspian Sea.

Following the establishment of the Great Silk Road, particularly from the 6^th century onward, one of the most critical commercial routes connecting the Caucasus and the Byzantine Empire traversed through Samarkand, Bukhara and Khwarazm. Furthermore, in Shota Rustaveli’s renowned 12^th-century epic poem, Knight in the Panther's Skin, explicit reference is made to Khwarazm. This compellingly demonstrates that deep-seated historical, cultural and trade linkages actively existed between Georgia and Central Asia as early as the Middle Ages.

In subsequent periods, representatives of the Georgian people likewise took an active part in the public life of Uzbekistan, among whom were prominent entrepreneurs, architects, scientists, cultural figures and medical professionals. Distinct symbols of the enduring friendship between the two nations include the entrepreneur George Tsintsadze, under whose initiative the renowned “Colosseum” Theater was constructed in Tashkent, as well as Academician Edvard Rtveladze, who rendered an monumental contribution to the development of archaeological science in Uzbekistan.

The scientific heritage of Academician Edvard Rtveladze merits profound and distinctive attention. Hundreds of his scholarly works dedicated to the comprehensive history of Uzbekistan and the thorough examination of Great Silk Road, alongside groundbreaking research that successfully established the precise location of the ancient settlement in the Surkhandarya region, have garnered widespread international acclaim and constitute a monumental contribution to global historical science.

In conclusion, it should be emphasized that amidst the complexities of the contemporary international landscape, relations between Uzbekistan and Georgia continue to systematically evolve on the basis of unwavering mutual trust, open dialogue, and pragmatic cooperation. The steadfast political will of the Leaders of the two states, the dynamic expansion of economic and humanitarian linkages, and a rich historical heritage serve as a solid foundation for the further reinforcement of the mutually beneficial partnership between the two nations.

There is no doubt that such large-scale interaction, regular engagements, and constructive dialogue will continue to facilitate the expansion of comprehensive cooperation in the fields of trade, transport, investments, tourism, culture, and other domains, thereby forging a reliable foundation for the further progressive development of Uzbek-Georgian relations.

Dunyo IA

The first quarter proved highly favorable for Uzbekistan’s economy. Economic growth reached 8.7%, inflation fell to its lowest level in recent years, investment hit a record high, and exports continued to expand steadily.

Economic Growth Dynamics

The pace of economic growth achieved by Uzbekistan in the first quarter exceeded the expectations of international institutions. The Asian Development Bank had projected 6.7% growth for the first quarter. The World Bank initially forecast 6.0%, but revised it upward to 6.4% in April. The IMF also raised its forecast in April from 6.2% to 6.8%.

In practice, Uzbekistan’s economy grew by 8.7%. GDP in current prices amounted to $36.9 bn. The forecast closest to the actual result came from the Center for Economic Research and Reforms (Uzbekistan), which projected first-quarter growth of up to 7% at the beginning of the year.

The strongest growth was recorded in construction, where gross value added increased by 15.0%. The services sector expanded by 8.8%, retaining its position as the largest segment of the economy. Industry grew by 8.0%, while agriculture increased by 5.1%.

Significant gains were also seen in oil refining, up 29.5%. In light industry, apparel and textile production rose by 15.3%, while knitwear output increased by 26.9%. In automotive manufacturing, production expanded by 12.5%, including buses by 64.7% and trucks by 46.6%. Within services, the highest growth rates were recorded in education, up 22.5%, and financial services, up 22.4%.

An important contribution to overall growth also came from measures aimed at reducing the shadow economy. Its share declined from 24.8% to 22.9%, while legalized business activity supported higher recorded growth figures.

Another major factor behind accelerated growth has been the country’s active market reforms, which were recognized this year in the Index of Economic Freedom, where Uzbekistan rose by 14 positions and entered the category of moderately free economies for the first time.

Overcoming Inflationary Challenges

External pressures continue to affect domestic price formation. Global oil prices have risen by 40% since the beginning of the year. Geopolitical tensions have disrupted logistics corridors, increasing transportation costs for trade flows by 25–30%. As a result of these disruptions, imports of cattle into Uzbekistan fell by half in the first quarter, creating risks for food security.

To stabilize food prices, the government introduced partial reimbursement of air freight costs for imports of breeding livestock and meat products. It also approved the import of 100,000 breeding sheep and goats from Mongolia with compensation of 50% of transport costs.

Since the beginning of the year, Uzbekistan has actively implemented a new system of inflation management and price stability. For all responsible officials and regional governors, the key task for 2026 has been defined as maintaining stable prices for essential food products and keeping annual inflation below 6.5%.

As a result of these measures, despite external pressures, the inflation environment improved significantly in the first quarter. Consumer prices rose by 1.93% in January–March. In March alone, monthly inflation stood at 0.6%, while annual inflation fell to 7.1% for the first time, compared with 10.34% a year earlier.

Budget Policy and Regional Development

Thanks to such dynamic economic growth, Uzbekistan’s State Budget revenues also increased steadily in the first quarter, rising by 35% year-on-year. Tax revenues grew by 24%, while customs revenues increased by 20% compared with the same period last year.

Funds retained by local budgets rose by 21%. In addition, land sales and privatization processes generated an extra $47.1 mn for local budgets. At the same time, $90.6 mn were transferred from the republican budget to local budgets to support the regions. As a result, district-level local budgets retained $115.3 mn, nearly 4.2 times more than the $28.5 mn recorded in the same period last year.

This demonstrates the continued and consistent policy course toward expanding the financial autonomy of the regions, helping unlock local potential and support dynamic regional development.

Investment Outlook

Investment activity in Uzbekistan reached a record level in the first quarter. Capital investment and development projects totaled $12.85 bn, up 41.5%. Foreign direct investment increased by 45.7% to $8.84 bn. During the quarter, 1,508 new projects worth $1.185 bn were launched, creating around 28,000 new jobs.

In the first quarter, investment volumes exceeded $50 mn in 50 cities and districts, while in 21 of them the figure surpassed $100 mn, indicating broader regional investment activity. By source of foreign investment, China ranked first with $6.4 bn, followed by Russia with $1.1 bn, Türkiye with $975 mn, the UAE with $824 mn, and Germany with $342 mn.

Overall, in 2026 Uzbekistan plans to implement 125 projects with the participation of international financial institutions and foreign state financial organizations, attracting $5.1 bn. In the first quarter alone, $947 mn in foreign loans had already been mobilized from these sources, exceeding forecast targets by 120%. These projects have already delivered tangible results in infrastructure development and improved living standards.

The next important step in attracting investment may be the listing of state assets on international markets. Speaking at the meeting, the President announced that 30% of state assets worth $2.4 bn would soon be placed on international stock exchanges for the first time. This is linked to the establishment of the National Investment Fund and the transfer of management of 13 strategic enterprises to Franklin Templeton.

The country’s overall target for this year is to attract $53 bn in foreign investment. Officials were also instructed to introduce an AI-based platform that would provide optimal project recommendations for specific regions. Investors and consulting companies will be granted access to the platform through a one-stop-shop mechanism.

Growing Export Potential

Total exports of goods and services maintained strong growth momentum in the first quarter, reaching $5.8 bn, up 26% year-on-year, or by $1.2 bn. Export growth was recorded in 147 districts and cities across the country. As a result, the total number of exporting enterprises reached 4,000.

In particular, exports of natural uranium amounted to $402.6 mn, up 95%. Exports of non-ferrous metals reached $248.7 mn, doubling year-on-year. Oil and gas exports totaled $160 mn, up 15%.

Positive dynamics were also observed in manufacturing. Textile exports reached $731 mn, up 18%. Exports of construction materials totaled $304 mn, rising by 75%. Jewelry exports reached $214 mn, up 54%.

Agricultural and food exports also posted solid growth. Fruit and vegetable exports reached $320 mn, up 12%. Food exports totaled $282 mn, surging by 120%. Strong momentum was also seen in services, where exports reached $2.2 bn, up 35% year-on-year, or by $573 mn.

The geography of exports continues to expand. In January–March, previously non-exported goods worth $162 mn across more than 140 product categories were supplied for the first time to 86 countries, including the United States, Austria, Belarus, Poland, South Korea, Iran, Kazakhstan, and Afghanistan.

Despite these achievements, external market challenges continue to affect exporters. The President noted that over the past six months, due to changing conditions among foreign partners, 908 entrepreneurs with signed contracts worth $3.6 bn had still been unable to begin exports.

Support for Entrepreneurship

Active support for small and medium-sized businesses continued in the first quarter. This year, $11.5 bn is being allocated through banks for this purpose. In the first quarter, entrepreneurs received $2.9 bn in credit resources, including $659 mn under state support programs. A total of 21,000 microprojects were implemented, helping raise incomes for 52,000 residents.

At the same time, certain shortcomings remain. Not all districts and cities are equally effective in converting loans into permanent jobs, and the differences are considerable. To address this issue, the President emphasized the need to use AI tools in credit allocation and instructed banks to launch an “AI Consultant” platform.

The meeting also discussed optimization of government administrations and the creation of new business spaces. Since many central and busy streets in district centers are occupied by state institutions, 19 districts and cities have already begun relocating government offices into unified administrative centers, with vacated premises transferred to businesses. Scaling up these measures nationwide would free up 5 mn m2 of space for business activity.

Social Policy

A strong social policy and active measures to reduce poverty and promote employment continued in the first quarter.

Permanent jobs were provided to 167,000 people, while 737,000 citizens received assistance in creating additional income sources and improving their living standards. An important contribution came from formalizing 241,000 previously informal workers, giving them access to social protection, financial services, and stable employment.

Special attention in social policy is being given to low-income families. A total of 105,000 support services were delivered to 86,000 vulnerable families, including employment assistance, training, business start-up support, and income generation. Under women’s support programs, 26,000 women were employed, while youth support programs benefited 58,000 young citizens.

To accelerate development in territories facing difficult socio-economic conditions, $297 mn were allocated from the republican budget. Additional support of $329 mn was also directed to areas granted the status of “New Image of Uzbekistan.”

These policies continue to contribute to lower poverty and higher living standards. Poverty fell to 5.0% in the first quarter, while unemployment stood at 4.7%. According to forecasts, both indicators may decline further to 4.3% by mid-year.

Significant attention is also being paid to social infrastructure and improving living conditions with the active participation of international financial institutions. In the first quarter, 89 km of drinking water networks, 8.2 km of sewerage networks, and 40 km of roads were built.

These measures are creating a sustainable foundation for further poverty reduction, stronger employment, higher welfare, and better living conditions across all regions of Uzbekistan.

Perspectives

It is useful to compare Uzbekistan’s first-quarter growth performance with the global economy and other countries.

In its April forecast, the IMF lowered projected global growth from 3.3% in January to 3.1% in April. Growth in advanced economies is expected at 1.5–1.6%, while developing economies are projected at above 4%. US growth is forecast at 2.0–2.1%, while Europe is expected to remain the weakest region, with UK growth revised downward to 0.8%.

The IMF identified India as the fastest-growing major economy, with projected growth of 7.3%. Yet Uzbekistan’s first-quarter growth exceeded even that figure, reaching 8.7%. This reflects the soundness and effectiveness of ongoing reforms, as well as strong and responsive economic management, where emerging challenges are addressed without delay.

Uzbekistan is expected to maintain high growth momentum in 2026. Real GDP growth is projected in the range of 8.3–8.7%, with services rising by 9.1%, industry by 8.7%, and construction by 11.5%.

At the same time, despite these positive results, the President noted that there is no room for complacency. Against the backdrop of intensifying global rivalry, the world economy will no longer be as stable as before. This requires special focus in the current year on sustaining growth, containing inflation, creating jobs, expanding exports, and improving the quality of investment.

Khurshed Asadov, Deputy Director of the Center for Economic Research and Reforms under the Administration of the President of the Republic of Uzbekistan

Хуршед Асадов, ЦЭИР

Samarkand Forum of the Asian Development Bank
In the Context of Contemporary Challenges and Historical Significance

In early May, Samarkand hosted the 59th Annual Meeting of the Board of Governors of the Asian Development Bank under the theme “Crossroads of Progress: Advancing the Region’s Connected Future.” The President of the Republic of Uzbekistan, Shavkat Mirziyoyev, outlined key priorities for further cooperation with the ADB.

The forum brought together more than 4,000 experts from over 100 countries, including representatives of foreign governments, international financial institutions, leading banks, and major corporations. The central topics of discussion included digital and green transformation, climate resilience, supply chain development, and food security.

Uzbekistan and the Asian Development Bank: Effective Partnership

Uzbekistan joined the ADB in 1995. Over the past 30 years, the Bank has become a reliable strategic partner for the country. The current portfolio of joint projects has reached nearly $16 billion. Uzbekistan has become the Bank’s largest partner in the region by operational volume and ranks among the top 10 countries globally in terms of ADB operations.

In August 2024, the ADB launched a new Country Partnership Strategy for Uzbekistan for 2024–2028. This five-year strategy focuses on supporting the transition to a green economy, enhancing private sector development and competitiveness, and stimulating investment in human capital, in line with the national development priorities outlined in the “Uzbekistan–2030” strategy.

ADB financing across sectors is distributed as follows: transport – $3.1 billion; energy – $2.9 billion; water supply, sanitation, and urban services – $1.4 billion; agriculture and water resources – $0.9 billion.

Through effective cooperation with the ADB, more than 1,400 km of railway lines and 1,700 km of roads have been modernized. Over 4,000 km of water supply networks have been completed, and around 750 educational institutions have been upgraded. In 2025, a record annual commitment volume exceeding $1.4 billion was achieved.

New Cooperation Program with Uzbekistan

During the Samarkand forum, a new partnership program between Uzbekistan and the ADB through 2030 was adopted. It envisages the implementation of projects totaling $12.5 billion, including infrastructure development, support for reforms, private sector growth, and public-private partnerships.

Key components include: infrastructure financing – $2.6 billion; results-based lending – $2.2 billion; budget support for reforms – $3.3 billion; multitranche financing facilities – $350 million; partial credit guarantees – $250 million; direct private sector financing – $2 billion; PPP projects – $1.7 billion.

Priority Areas Outlined by the President

In his address, the President of Uzbekistan emphasized the need to introduce new mechanisms and approaches for sustainable development amid global economic challenges and rapid technological change.

First, digital technologies and artificial intelligence are transforming virtually all sectors. By 2040, AI is expected to increase global trade volumes by an additional 40%. The adoption of open AI models is therefore essential in key sectors such as education, healthcare, water management, environmental protection, and food security. Uzbekistan proposed developing a dedicated ADB-led program to scale AI adoption in developing countries and announced its accession to the Bank’s “Digital Highway for Asia” initiative, including the establishment of a regional coordination center in Tashkent.

Second, the expansion of digital technologies and AI is driving a sharp increase in energy demand. By 2030, electricity consumption by data centers is projected to rise by 2–3 times compared to current levels. Only countries capable of providing affordable and reliable green energy will remain competitive globally. Uzbekistan identified green energy development as a strategic priority and acknowledged ADB support for the “Central Asia–Europe” green energy corridor aimed at expanding clean energy exports.

Third, ensuring the connectivity of transport systems and the stability of logistics corridors is becoming increasingly critical. Changes in global logistics routes have already led to transport cost increases of up to 30% for Central Asian countries, with delivery times extended by several weeks. In this context, the China–Kyrgyzstan–Uzbekistan railway project is of particular importance. Uzbekistan proposed establishing a “Digital Customs and Logistics Alliance” within the CAREC framework.

Fourth, according to international experts, demand for critical minerals will increase sixfold by 2040. Uzbekistan possesses significant reserves of copper, tungsten, molybdenum, magnesium, graphite, vanadium, titanium, and other resources. To ensure deep processing and production of high value-added goods, Uzbekistan proposed joining the ADB’s “From Critical Minerals to Production” program.

Fifth, climate change and desertification pose serious challenges to Central Asia. The ADB is implementing its Climate Action Plan through 2030, allocating at least 50% of its annual financing to climate-related projects. Uzbekistan proposed launching a regional “Green Belt of Central Asia” initiative to complement national afforestation efforts in the Aral Sea region.

Sixth, amid global instability, demand for safe travel destinations is growing. Central Asia has strong potential in pilgrimage, cultural, gastronomic, ethnographic, extreme, and medical tourism. Uzbekistan proposed creating a “Central Asia Tourist Ring” to integrate regional tourism offerings.

To advance these initiatives, Uzbekistan aims to fully utilize ADB financial instruments, including mobilizing private capital, and proposed establishing an Innovative Platform for Financing Regional Projects.

Transformation of ADB Operations

The implementation of these initiatives requires a transformation of the ADB’s institutional model. In response to global economic shifts, rapid technological change, and increasing interdependence, the Bank is shifting its focus toward sustainability, regional integration, and future-oriented infrastructure.

A key direction is the expansion of investments in next-generation infrastructure, including cross-border energy networks, electricity trade, and digital infrastructure such as internet connectivity and data transmission networks.

Another major shift is the transition from financing predominantly national projects to prioritizing regional systems. This includes integrating energy systems, developing regional electricity markets, and advancing digital integration across Asia.

These priorities are reflected in two major initiatives announced at the Samarkand forum, totaling $70 billion through 2035, aimed at energy system integration, cross-border electricity trade, digital corridors, data centers, and broadband expansion across Asia and the Pacific.

A significant announcement was also the launch of the “Critical Minerals-to-Manufacturing Financing Partnership Facility,” covering the full value chain from exploration and resource mapping to the production of final goods, including chemicals, batteries, renewable energy components, electronics, as well as recycling and reuse.

For Uzbekistan, this approach is particularly relevant, as the country is already developing value chains based on its mineral resources. The ADB program is expected to accelerate this process significantly.

Overall, the transformation of the ADB reflects a shift toward supporting systemic resilience and regional markets. This includes three key transitions: from individual projects to integrated economic systems; from national to regional focus; and from development support to long-term economic sustainability.

As a result, the ADB is evolving from a project financing institution into a coordinating platform for regional economic connectivity, strengthening its role in Asia’s integration amid the formation of competing global economic blocs.

Conclusion

The 59th Annual Meeting of the ADB Board of Governors in Samarkand was of significant importance not only for Uzbekistan due to its international prestige and the adoption of a new cooperation program, but also for the entire Asia-Pacific region.

The forum marked the launch of two major initiatives and the new “From Critical Minerals to Production” program, reflecting the Bank’s updated strategy aimed at enhancing economic stability and regional consolidation in Asia.

Holding the forum in Samarkand is symbolic. Historically a crossroads of trade and culture between East and West, the city once again serves as a focal point for shaping the region’s future.

It was here that initiatives and decisions were announced that may influence the development trajectory of all Asia, reinforcing Samarkand’s role as a platform for dialogue and strategic vision.

Viktor Abaturov,
Center for Economic Research and Reforms

Leading international media outlets - including “CNN”, “Forbes”, “The Wall Street Journal”, “The Economist”, “Arab News” and “China Daily” - characterize the project as a “global-scale megaproject”, “pearl of Central Asia and a space that is shaping the modern understanding of Islamic civilization”.

The opening of the Center of Islamic Civilization in Uzbekistan has sparked broad international interest and has become a focal point for the world's leading media. Publications about the Center have appeared in more than 20 countries and in 7 languages - including English, Arabic, Spanish, Chinese, Hindi, Turkish and Russian - reaching a total audience of over 1.5 billion people. These materials, prepared by international journalists, analysts and experts, reflect the high level of interest in the project from the global professional community.

International media emphasize the symbolic nature of this event. As “Arab News” notes, “the opening of the Center, initiated by President of Uzbekistan, took place during the holy month of Ramadan, just as the laying of the first stone did eight years ago, giving the project a special historical and spiritual continuity”. Meanwhile, “Khaleej Times” writes that the Center represents a “unique space where cutting-edge technology and modern scientific approaches are harmoniously combined”.

As “Forbes” notes, “under the leadership of President Shavkat Mirziyoyev, the country is implementing a strategy of sustainable development and economic openness” and amidst rapid technological changes and growing global tensions - ranging from geopolitical conflicts to discussions on cultural identity - Center of Islamic Civilization “is transforming its civilizational heritage into a modern tool of soft power”. “The Wall Street Journal” points out that the Center “unites a rich historical legacy”, highlighting its integrative function.

“China Daily” refers to the Center of Islamic Civilization as “one of Uzbekistan's key cultural and scientific projects”, contributing to the strengthening of cultural and humanitarian cooperation between Uzbekistan and China, while “The Korea Times” notes that the complex “reflects the humanistic and enlightening essence of Islamic civilization” and “serves as a modern platform for cultural dialogue and scientific collaboration”.

“Euronews” characterizes the Center as a “new hub for heritage and research”, bringing together scientific research, education and modern exhibition practices. The Spanish publication “ABC” notes that “Uzbekistan is reviving the legacy of the Great Silk Road”, linking the project to the region's historical role as a center of civilizational exchange.

In turn, Hungarian publication “Hello Magyar” emphasizes that “the complex's architectural concept is impressive not only for its grandeur but also for its full compliance with modern urban planning and environmental sustainability standards”, noting its architectural expressiveness and alignment with contemporary sustainable development requirements. The Turkish publication “Yeni Konya” characterized the Center of Islamic Civilization as a “monumental and majestic center that can be considered one of the most important historical, cultural and artistic achievements of the Islamic world in the last century”.

In Azerbaijani media, specifically the publication “Caliber.az”, Center of Islamic Civilization in Uzbekistan has been described as a “candidate for the Guinness World Records”, highlighting its immense scale and uniqueness.

Center is becoming more than just a new museum; it is part of a broader narrative - a story of how countries rediscover their heritage and make it accessible to the world. Today, the Center is already open to visitors. Experts also note the Center's potential influence on the development of cultural tourism. This new complex is capable of becoming a key attraction for international visitors, strengthening interest in Uzbekistan as a destination with a unique historical and intellectual legacy. However, judging by the attention from the global press, its significance extends far beyond tourism.

The initiatives announced by President of Uzbekistan Shavkat Mirziyoyev during the Open Dialogue with entrepreneurs in Khiva, Khorezm Region continue to generate a strong response and heightened interest among representatives of the international business community, foreign investors, and transnational corporations.

The scale and depth of the announced reforms are being viewed by the global market as a clear sign of the country’s readiness to guarantee maximum capital security, ensure legal predictability, and create the most favorable conditions for doing business in the region.

The Open Dialogue sent a clear signal to the international business community. The meeting in the Khorezm Region not only summarized the large-scale transformation of the business environment in recent years, but also reaffirmed the country’s strategic course toward deep integration into global value chains, the promotion of exports, and the uncompromising protection of investors’ rights.

In recent years, the country has demonstrated impressive economic growth. The number of registered business entities has nearly doubled and exceeded 530,000, while 2.4 million permanent jobs have been created in the private sector, and export volumes have reached a historic high. However, the main message of the Khiva Dialogue is addressed to international partners and is focused on the future: Uzbekistan is building a highly predictable, secure, and favorable ecosystem for investment capital.

For foreign investors and joint ventures, opportunities for institutional support and access to financing are being significantly expanded.

The State Fund for Entrepreneurship Support has been reoriented toward supporting projects in the services sector and medium-sized businesses, while an additional 100 million dollars has been allocated to guarantee credit lines.

As part of the state program supporting high-growth companies, a system of grants and preferential financing of up to 10 billion sums has been introduced. This creates a strong platform for launching and developing high-tech and innovative startups with foreign capital participation.

In addition, in order to encourage joint ventures to enter global markets, the state will cover up to 50 percent of companies’ expenses for placing their products on major international electronic trading platforms.

A central part of the Dialogue was strengthening the inviolability of private property and ensuring absolute stability of tax legislation.

In order to reduce administrative pressure, a “single window” principle for assessing tax risks is being introduced. In Uzbekistan, duplicative inspections by regulatory authorities are being abolished, while the procedure for analyzing tax gaps is being adapted to international standards with the direct participation of the business community.

At the same time, penalties for administrative and criminal offences have been toughened for any unlawful interference by government bodies in the activities of business entities.

Uzbekistan is consistently implementing sustainable development standards and green growth principles, opening up broad prospects for institutional and green investors.

For enterprises investing in energy-efficient technologies and solar power generation, a package of tax deductions, accelerated depreciation mechanisms, and special tariff preferences has been introduced.

As part of the adaptation to international environmental standards and the requirements of the European carbon regulation mechanism, the country is launching a national certification system for “green” products, which will ensure the unhindered access of domestically produced goods to highly competitive global markets.

The holding of the Dialogue in Khiva underscores the state’s strategic priority of decentralizing the economy and ensuring the comprehensive development of the regions.

In the Khorezm Region, a special legal regime is being established for pharmaceutical, textile, and IT clusters, with direct integration into international transport and logistics corridors connecting Central Asia with the markets of the Middle East, South Asia, and Europe.

In special economic zones, the principle of full infrastructure readiness is being introduced. All engineering and utility networks are to be provided on a turnkey basis by the state before the arrival of the management company or investor.

The outcomes of the Open Dialogue in Khiva confirm Uzbekistan’s transition from a series of individual reforms to the establishment of strong institutional guarantees.

For international investors and transnational companies, this means a systematic reduction in country risks, direct state support at all stages of project implementation, and reliable access to the dynamic Central Asian market with its young and highly qualified human capital.

Today, Uzbekistan is firmly establishing itself as a stable and predictable jurisdictional hub for long-term international business.

Sadriddin Suyarov

Dunyo IA

In today's interconnected world, a country's attractiveness is measured not only by its economic potential or cultural heritage, but also by how safe people feel in their daily lives. Public safety has become one of the key factors influencing tourism, investment and international cooperation.

According to the Safety Perceptions Index 2023, published by the Institute for Economics & Peace (Vision of Humanity), Uzbekistan ranks first among 121 countries worldwide in perceived personal safety.

The index is based on data from the World Risk Poll and measures people's perception of safety in everyday life rather than official crime statistics.

This achievement reflects the effectiveness of Uzbekistan's ongoing reforms aimed at strengthening public security, modernizing infrastructure, expanding digital public services and pursuing a policy of openness.

Today, Uzbekistan continues to strengthen its position as one of Central Asia's most attractive destinations for tourism, investment and international partnership. Visa liberalization, improved connectivity, modern infrastructure and the country's renowned hospitality have created a welcoming environment for visitors from around the world.

International experts increasingly recognize that the perception of safety has become one of the most important factors shaping travel decisions. In this context, Uzbekistan's leading position in the Safety Perceptions Index 2023 reinforces the country's reputation as a reliable, secure and welcoming destination.

Combining the legacy of the ancient Silk Road with modern development, openness and social stability, Uzbekistan offers a unique environment where history, innovation and security come together.

Uzbekistan — a country of trust, stability and opportunity.