Cooperation between the Republic of Uzbekistan and the Republic of Korea has been developing consistently in recent years, acquiring new substance in such priority areas as the economy, investment, advanced technologies, digitalization, and public financial management. Relations aimed at further expanding practical cooperation between the two countries, studying advanced experience, and introducing modern technologies are becoming particularly important.

Within the framework of the Central Asia–Republic of Korea Cooperation Forum, particular attention is being paid to identifying new areas of regional and bilateral cooperation, implementing joint projects in innovative and high-tech sectors, as well as developing human capital.

This process is becoming even more relevant ahead of the high-level visit of the President of the Republic of Uzbekistan to the Republic of Korea on September 14–17. The visit will create important opportunities for bringing the strategic partnership between the two countries to a new level, expanding investment and technological cooperation, as well as reaching new agreements on the implementation of promising projects.

In particular, cooperation between the Republic of Uzbekistan and the Republic of Korea in the area of public financial management and modernization of the treasury system is also developing steadily. In this regard, the Republic of Korea’s advanced experience is being studied as part of the modernization of the treasury system and the gradual transition to a “Digital Treasury” system.

From April 5 to 10, 2026, the Korea Fiscal Information Service (KFIS) organized a training and practical seminar in the Republic of Korea dedicated to public financial management information systems and the introduction of artificial intelligence technologies. The delegation of the Treasury Service Committee under the Ministry of Economy and Finance of the Republic of Uzbekistan took part in the seminar.

During the visit, the advanced information systems used in the Republic of Korea in the field of public financial management were studied in detail, including the operating mechanisms, functional capabilities, and role of the dBrain+, e-Naradoum, and e-Hojo systems in the digitalization of public financial management processes.

In addition, a Memorandum of Understanding was signed between the Treasury Service Committee and the Korea Fiscal Information Service. This document will contribute to further strengthening bilateral cooperation at the institutional level, expanding the exchange of experience, and developing practical cooperation aimed at improving public financial management information systems.

Furthermore, during meetings with the leadership of the Korea Fiscal Information Service, an agreement was reached on the engagement of a highly qualified expert from the Republic of Korea in the process of modernizing Uzbekistan’s public financial management information systems.

There are also prospects for establishing cooperation with the Republic of Korea in developing a semiconductor ecosystem, as well as implementing “OSAT” (the process of chip packaging and testing) and “IC Design” projects.

One of the key areas being identified is the exploration of opportunities to attract the Republic of Korea’s advanced technologies to Uzbekistan in the production of raw materials and high-purity chemical materials for semiconductors, train local specialists, establish cooperation in research and develop a semiconductor materials base in the country.

Within the framework of developing cooperation in the semiconductor sector with “SK Group,” particularly “SK Hynix,” prospects are being considered for technology transfer, the establishment of educational programs in “IC Design,” the training of local engineers and specialists in chip design, the implementation of joint educational programs, including grant-based projects, as well as the establishment of research and development centers.

The implementation of these initiatives will create an important foundation for developing the modern electronics and semiconductor industry in Uzbekistan, training highly qualified engineering professionals, localizing advanced technologies, and establishing new high-value-added manufacturing industries.

Initiatives aimed at applying the Republic of Korea’s advanced technological and institutional experience in Uzbekistan, expanding mutually beneficial investment projects, and training modern specialists will contribute to bringing the strategic partnership between the two countries to a new level.

In this regard, the initiatives being put forward within the framework of the Central Asia–Republic of Korea Cooperation Forum and the high-level visit will serve as an important foundation for further deepening multifaceted cooperation between the Republic of Uzbekistan and the Republic of Korea, implementing new technological projects, and developing high-value-added sectors in the long term.

The development of trade and economic cooperation between Uzbekistan and Belarus, expansion of bilateral trade, enhancement of export potential, and strengthening of investment ties remain among the key priorities of economic relations between the two countries. Consistent efforts undertaken in this direction are contributing to the diversification of export markets, improvement of logistics chains, and expansion of cooperation between the business communities of both nations.

Against this backdrop, the Belagro–2026 International Agricultural Exhibition and Fair, one of the largest international events in the agricultural sector, was held in Minsk, Republic of Belarus, from 1 to 6 June 2026. An official delegation of the Republic of Uzbekistan participated in the exhibition, holding a series of meetings and negotiations focused on expanding trade and economic cooperation, increasing exports, strengthening investment partnerships, and implementing joint projects in the agricultural sector.

Within the framework of the exhibition, the National Pavilion of Uzbekistan, organized by UZAGROSTAR HOLDING, showcased a wide range of agricultural and food products produced in Uzbekistan. The pavilion was visited by Rahmatulla Nazarov, Ambassador Extraordinary and Plenipotentiary of the Republic of Uzbekistan to the Republic of Belarus; Yuriy Shuleyko, Deputy Prime Minister of the Republic of Belarus; and Aleksandr Yakovchis, Deputy Minister of Agriculture and Food of the Republic of Belarus. During the visit, the parties discussed the quality and export potential of Uzbek agricultural products, as well as their prospects in the Belarusian market.

The exhibition also served as a platform for meetings with leading Belarusian retail chains, importing companies, and wholesale market operators. Discussions focused on establishing systematic supplies of Uzbek agricultural products to Belarus, expanding the range of exported goods, increasing bilateral trade volumes, and strengthening direct cooperation between Uzbek exporters and Belarusian importers.

In particular, meetings with the management of the Noviy Lebyajiy wholesale market in the Minsk district explored opportunities for exporting fresh fruits, vegetables, and processed agricultural products under long-term contracts, establishing sustainable B2B partnerships, and creating dedicated trading areas for Uzbek producers.

Special attention was also devoted to cooperation in the livestock sector. Following negotiations with the Belarusian organization Belplemjivobyedineniye, a cooperation agreement was signed to supply high-yield pedigree cattle to entrepreneurs in the Samarkand region of Uzbekistan. The agreement represents a practical continuation of ongoing efforts aimed at improving breeding programs and increasing livestock productivity.

Furthermore, the delegation visited the Ozerco-Logistik trade and logistics center in the Minsk district to study Belarus's experience in developing logistics and customs infrastructure. The visit provided valuable insights into international cargo storage and redistribution, digital logistics systems, and customs clearance procedures, creating new opportunities for exchanging best practices in export logistics.

In the area of investment cooperation, a meeting with the leadership of the Mogilev Regional Executive Committee resulted in the signing of a Memorandum of Understanding between MARAQAND MEAT LLC of Uzbekistan and the Mogilev Regional Executive Committee on establishing a modern livestock production complex in Belarus. The memorandum establishes a legal framework for expanding bilateral investment cooperation and implementing joint projects in the agro-industrial sector.

The Uzbek delegation also visited advanced agricultural enterprises in the Vitebsk region, where they exchanged experience on the development of intensive livestock farming, efficient farm management, strengthening the feed base, introducing digital agricultural technologies, and implementing joint investment projects.

Over the past few years, Central Asia and the Caucasus have emerged as some of the fastest-growing regions in technology and innovation. Uzbekistan, Kazakhstan, and Azerbaijan are increasingly strengthening their positions on the global startup map, attracting international investors, technology companies, and entrepreneurs. One of the key platforms bringing together the region’s innovation ecosystem has become the international INMerge summit.

What is INMerge?

INMerge is an international innovation summit that brings together startups, investors, corporations, government representatives, and technology communities from across Central Eurasia. Over the past five years, the project has evolved from a relatively small corporate gathering into one of the region’s leading technology forums.

Today, INMerge hosts participants from Azerbaijan, Uzbekistan, Kazakhstan, Georgia, Türkiye, and other countries. Discussions focus on investment, artificial intelligence, startup development, digital infrastructure, and cross-border collaboration. Most importantly, however, the forum helps transform networking opportunities and ideas into real partnerships, projects, and investment deals.

In 2026, INMerge expanded beyond a single-city format by launching a regional Roadshow initiative. Ahead of the main summit, the team is organizing a series of events across key locations in the region. One of the central stops became Tashkent — a city that clearly demonstrated how rapidly Central Asia’s role in the global technology landscape is evolving.

Today, the three countries are shaping a new regional ecosystem, where each contributes its own strategic strengths.

Uzbekistan is now considered one of the fastest-growing tech markets in the region. Over the past year, venture investment volumes increased more than fivefold, the number of startups doubled to over 950, and Tashkent entered the world’s top 100 startup ecosystems for the first time. The country is actively opening up to international investors and steadily becoming a new destination for technology-driven businesses. Uzbekistan is already home to two unicorns.

Kazakhstan continues to focus on infrastructure development and a systematic approach to building its startup ecosystem. The country is developing a large-scale $1 billion fund of funds and has spent several years consistently creating conditions that allow startups to scale not only domestically, but internationally as well. Kazakhstan has also produced two unicorns.

In 2024, IT Park Uzbekistan and Astana Hub took another important step toward regional integration by launching the Central Asian Innovation Hubs initiative. The platform opened access for Central Asian startups to joint programs, international venues, and global accelerators. Today, Azerbaijan is increasingly exploring participation in this ecosystem, gradually contributing to the formation of a unified technological space connecting Central Asia and the Caucasus.

Azerbaijan, in turn, is becoming a platform that connects different markets and innovation communities. Baku was recently named Startup City of the Year, while INMerge Ventures became one of the country’s first locally registered venture capital funds. The city is now emerging as a hub for dialogue between corporations, investors, and technology teams from across the broader region.

At INMerge, this evolving dynamic is described as an “innovation corridor.” It is not simply about neighboring countries collaborating — it is about creating a shared ecosystem where ideas, technologies, investments, and talent can move freely across borders.

From Local Startups to the Global Stage

For startups today, building a product is no longer enough. Founders also need access to investors, strategic networks, and international markets. This is why platforms like INMerge are becoming increasingly important across the region.

One of the clearest examples is the startup competition held in Tashkent. Winners receive not only visibility and recognition, but also the opportunity to present their projects at the final summit in Baku before international investors and major corporations. This model helps connect local ecosystems into a larger regional network, giving young startups a real opportunity for international growth.

The final stage of INMerge will take place on October 8–9 in Baku, bringing together startup founders, investors, corporate leaders, and government officials who are actively shaping the future of Central Eurasia’s innovation economy.

A region that until recently remained outside the global technology spotlight is steadily becoming a new center of growth. And today, INMerge is playing a key role in accelerating that transformation.

President of the Republic of Uzbekistan Shavkat Mirziyoyev on December 13 took part in a solemn ceremony dedicated to the launch of new energy capacities and the beginning of construction of a number of facilities.

These projects are part of a large-scale work aimed at strengthening the potential of the country's energy system. Last December, five solar and one wind power plants were put into operation. Many new projects were launched during the Head of State's visits to the regions.

Today, 24 projects worth more than $7 billion have been launched. In particular, in Bukhara, Navoi, Namangan and Tashkent regions, 5 solar and wind power plants with a total capacity of about 2.3 thousand megawatts, as well as 5 high-voltage substations have been connected to the network.

For the first time in Uzbekistan, an energy storage system with a capacity of 300 megawatts was created in Andijan and Fergana. A 400 megawatt power plant was put into operation in Kashkadarya, and a modern cogeneration plant was put into operation in Tashkent, and in Andijan, Surkhandarya and Tashkent regions - four small hydroelectric power plants.

In addition, construction of 6 energy facilities with a total capacity of 2.5 gigawatts has started in Fergana, Samarkand, Navoi, Tashkent regions and Tashkent city.

These new projects will generate an additional 9.5 billion kilowatt hours of electricity, save 2.5 billion cubic meters of natural gas and prevent the emission of 4.6 million tons of harmful gases in the coming years.

Most importantly, over 4 million households will be provided with uninterrupted and clean energy. 

This will also set the stage for $4 billion worth of value creation in other sectors of the economy.

In total, in 2025, our country will produce 84 billion kilowatt-hours of electricity, which is 25 billion kilowatt hours or 1.5 times more compared to 2016.

Speaking at the ceremony, President Shavkat Mirziyoyev emphasized that all these projects are implemented through foreign direct investment. Gratitude was expressed to companies from the United Arab Emirates, Saudi Arabia, Türkiye, China and Germany, as well as international institutions such as the Asian Development Bank, the Asian Infrastructure Investment Bank, the Islamic Development Bank, the European Bank for Reconstruction and Development and the World Bank for their fruitful cooperation.

Thanks to the open access of the private sector, Uzbekistan's energy sector has attracted about $20 billion of foreign direct investment over the past five years. 

Twenty-four independent energy producers have started to operate in the sector, where previously only the state was present.

In particular, large solar and wind power plants with a total capacity of 3,500 megawatts, equivalent to 10 billion kilowatt-hours, were launched in the green energy sector. This increased the share of “green energy” in the energy system to 16 percent.

As is known, last year the country's GDP reached the historic figure of $100 billion for the first time. By 2030, Uzbekistan's economy should grow to $200 billion.

This will increase the demand for electricity by 1.5 times over the next five years. In addition, under the Paris Agreement, it is planned to reduce harmful gas emissions by 35 percent by 2030.

The President outlined the priority areas of work in the energy sector.

First, 19 thousand megawatts of additional “green capacity” will be built by 2030, and the share of renewable energy will be increased to 54 percent. Already by 2025, 18 solar and wind power plants with a capacity of 3.4 thousand megawatts and energy storage systems with a capacity of 1.8 thousand megawatts are planned. This will increase green energy production to 12 billion kilowatt-hours next year. Also within two years, a large-scale project will be implemented in cooperation with private partners to create more than 2,000 small and micro-hydroelectric power plants.

Second, liberalization of the electricity market will continue. By the end of next year, it is planned to create a competitive wholesale electricity market. Public-private partnership will be introduced in the sphere of energy distribution, and $4 billion of investments will be attracted for the modernization of networks. The first project of transferring the management of regional power grids to the private sector has been developed in Samarkand region, and an international tender has been announced.

Third, the expansion of international cooperation in the field of “green energy”. Within COP-29, agreements were signed with Kazakhstan, Azerbaijan and Saudi Arabia on joint export of “green energy” to Europe. Jointly with neighboring countries a single platform has been launched to ensure the stability of the regional energy system.

Fourth, development of “green energy” as a new driver for other sectors of the economy and improvement of living standards of the population. 

Solar panels with a total capacity of 1,000 megawatts have already been installed, which makes it possible to produce 1.5 billion kilowatt-hours of electricity annually. Support for “green” initiatives will continue with the introduction of dual education for the training of specialists.

- Today's event opens a new page in the history of our country's energy sector. These projects will not only ensure economic growth, but also will create an environmentally friendly and sustainable future for our descendants - said Shavkat Mirziyoyev.

The ceremony was addressed by Minister of Energy and Infrastructure of the United Arab Emirates Suhail Mohamed Al Mazrouei, Minister of Energy and Natural Resources of Türkiye Alparslan Bayraktar and Minister of Energy of the Kingdom of Saudi Arabia Prince Abdulaziz bin Salman Al Saud.

By pressing a symbolic switch, President Shavkat Mirziyoyev launched the operation of 18 energy facilities and construction of 6 new projects.

President Shavkat Mirziyoyev was reported the current work and plans for 2025 in automotive industry.

The share of automotive industry in the country's industry is 10 percent. Over the past ten months, 338 thousand passenger cars were produced. Components of 1.4 thousand types were localized. Thanks to economic measures, the cost price in the industry decreased by 4 percent. Exports amounted to $455 million.

The chairman of “Uzautosanoat” JSC presented information on plans and future tasks.

Next year it’s planned to manufacture 450 thousand cars and elevate exports to $700 million. It’s planned to strengthen cooperation with regional enterprises and boost localization. In particular, 63 projects worth $325 million on developing production of 700 components will be implemented. 

As is known, together with “BYD” company an automotive plant was built in Jizzakh. Currently such automobiles as Chazor and Song Plus Champion are produced there. In the upcoming years the model range is planned to be expanded. At the second stage worth $300 million it’s planned to expand the share of electric cars’ production to 200 thousand per year, at the third – to 500 thousand.

The Head of our state instructed to consistently master the production of components and spare parts for electric cars in agreement with the Chinese partners. 

The task was set to form orders for local enterprises based on cooperation.

President Shavkat Mirziyoyev signed the law "On Recognition of Rights to Unauthorized Land Plots and Buildings and Structures Constructed on Them".

Many citizens of our country have been waiting for the resolution of this issue, which concerns the lives of millions of families. According to preliminary data, there are currently more than 3 million 600 thousand land plots, the legal documents for which are not formalized or incomplete.

In this regard, the head of state at a video conference call on land registration and cadastre held on November 21, 2023, noted the need for a legal solution to this issue. Accordingly, a draft law was developed with the participation of specialists in the sphere and deputies. The positive experience of Italy, Bulgaria, Croatia, the Czech Republic and other countries was taken into account. The draft was finalized and considered in the chambers of the Oliy Majlis.

The law consists of 6 chapters and 35 articles, which recognize rights to the following land plots and property:

1) land plots unauthorizedly seized by citizens before May 1, 2018 through the construction of individual housing, and buildings and structures built on them;

2) land plots occupied by citizens and organizations before May 1, 2018 in excess of the area specified in the document, as well as buildings and structures built on them;

3) land plots, the recognition of rights to which within the framework of the "one-time action" has not been completed, as well as buildings and structures constructed on them;

4) land plots allocated by decision of the regional (city) khokim until June 8, 2021, but not approved by the regional khokim or the Kengash of People's Deputies;

5) residential premises on the territory of horticultural and vine-growing associations and the land plot occupied by them;

6) land plots of entrepreneurs located in small industrial zones before March 9, 2020;

7) land plots occupied by buildings and houses privatized by state warrant;

8) land plots occupied by buildings and houses for which the ownership right has been recognized by the decision of the hokim.

The law also clearly defines the main conditions for recognizing rights. For example, the land plot should not be allocated to other persons or put up for auction; there should be no dispute over the land plot; there should be no contradiction with the general plan.

Recognition of rights is carried out step by step by region. Approval of information and documents concerning unauthorized land plots and buildings and structures built on them is carried out through the automated information system of the Cadastre Agency. The relevant information is also entered into this system by 15 authorized organizations.

Completeness and legality of the collected documents are checked by the regional justice department. The results will be announced on the website of the Cadastre Agency and in makhalla corners. Citizens who have received a positive conclusion will be sent an SMS-message, on the basis of which a one-time payment will be made. After that, the rights will be recognized quarterly by the decision of the regional Kengash of People's Deputies.

The bodies of prosecutor's office, internal affairs, agro-inspection, ecology, cadastre establish state control over the implementation of the law. The law also pays special attention to public control. Thus, public groups will be created in each mahalla by decision of district councils of people's deputies. These groups will include a deputy of the district council elected from the district where the mahalla is located, the chairman of the mahalla and active citizens.

A one-time payment is charged for the recognition of rights to land plots under residential houses, privatized or buildings and structures recognized on the right of ownership. The amount of the payment is 5 basic calculation units in the city of Tashkent, 3 BRV in the city of Nukus and regional centers, 2 BRV in cities and 1 BRV in other settlements. Persons included in the Unified Register of Social Protection and persons with disabilities are given a discount.

The one-time payment is directed to cover the costs of the cadastre and justice bodies and the Uzbekcosmos Agency. The remaining funds will be directed to the activities of the initiative budget, i.e. to the mahallas.

The law will come into force in 3 months, before that explanatory and preparatory work will be carried out on the ground. The law will be in force until January 1, 2028.

It should be noted that in the Republic of Karakalpakstan work in this direction has already begun. The Decree of the President of Uzbekistan of July 28, 2023 allowed to recognize the rights to undocumented residential houses and land plots located in the region by the decision of Jokargy Kenes of the Republic of Karakalpakstan.

After that, working groups were established in all districts and cities to examine 43,432 houses built in the Republic of Karakalpakstan without title documents. The location, condition and time of construction of the houses were verified on the basis of an analysis of land records and space images.

Following a comprehensive discussion, ownership of 27,590 residential houses and the right to lease the land on which they are located were recognized.

The results of this noble policy have had a positive impact on the lives of more than 100,000 citizens living in 27,590 houses. They now have the right to legally register their housing, sell it to another person, and put family members on permanent registration. Also, owners will now be able to receive preferential loans for repairs or additional construction, and in case of seizure of housing for public needs to demand compensation in accordance with the law.

The law "On Recognition of Rights to Unauthorized Land Plots and Buildings and Structures Constructed on Them" will expand the scope of this noble work throughout the country. If we assume that each of more than 3 million 600 thousand land plots concerns on average 3-4 citizens or entrepreneurs, this law will solve the problems of more than 10 million people and create a legal basis for their future life.

In recent years, cooperation between Central Asia and Azerbaijan in the energy sector has entered an entirely new phase. This progress is primarily the result of the wise policies pursued by the countries’ leaders, based on mutual trust, friendship, and good-neighborly relations. Thanks to this strong political will, major energy initiatives that were once viewed only as future prospects have now moved into the implementation stage, becoming important projects serving Central Asia’s sustainable development and contributing to the global green transformation.

Today, Central Asia is no longer a field of competition in the energy sector; rather, it is increasingly becoming a space for cooperation based on mutual trust, shared interests, and the principles of sustainable development. This process is gaining practical significance thanks to the forward-looking policies, open dialogue, and constructive approach of the countries’ leaders.

Energy security, the rational use of water and energy resources, coordination of electricity systems, and the rapid development of renewable energy sources have become key priorities of regional cooperation. The emerging regional architecture is creating new opportunities not only for meeting domestic demand but also for participation in international energy markets.

The countries of Central Asia have established mechanisms for continuous dialogue in the fields of energy and water management. Regular working meetings among the ministries of energy and water resources of Uzbekistan, Kazakhstan, Kyrgyzstan, and Tajikistan play an important role in ensuring the stable operation of electricity systems, the efficient use of water resources, the coordination of seasonal loads, and the uninterrupted supply of energy to households and industry.

Within this framework, the strategic partnership between Uzbekistan and Kazakhstan occupies a special place. The national energy systems of the two countries are closely interconnected, and practical cooperation in coordinating electricity flows, maintaining capacity balances, and ensuring the reliable operation of the unified energy system continues to develop steadily. Regular dialogue at the level of heads of state has further strengthened this cooperation and transformed it into an important integration factor for the entire region.

The countries’ goals in the field of renewable energy are also closely aligned. In recent years, Uzbekistan has accelerated the development of green energy, implementing large-scale programs to build solar and wind power plants, energy storage systems, and modern electricity networks. Kazakhstan is likewise consistently advancing reforms aimed at developing a green economy and reducing carbon emissions. Kyrgyzstan and Tajikistan, with their substantial hydropower potential, make a significant contribution to regional energy security. Meanwhile, Turkmenistan is implementing important initiatives to modernize its energy infrastructure and expand electricity exports.

Today, the common objective of the Central Asian countries extends beyond the development of their national energy systems. The primary task is to establish a single regional energy space that is interconnected, competitive, environmentally sustainable, and open to external markets. In this context, Azerbaijan’s participation broadens the geographic scope of cooperation and creates a strategic corridor linking Central Asia with Europe.

The Green Corridor: A Strategic Bridge Linking
Central  Asia and Europe

The high level of political trust achieved among the Central Asian countries is now being translated into practice through major transnational energy projects. Among the most significant is the Green Corridor initiative, being implemented by Uzbekistan, Kazakhstan, and Azerbaijan.

This project will elevate regional energy cooperation to an entirely new level by connecting Central Asia to the European energy system through the Caspian Sea. It will create opportunities to export environmentally friendly electricity generated in the region to international markets.

The strategic partnership agreement signed in Baku during COP29 in November 2024 provided a solid legal foundation for this initiative. Subsequently, cooperation among national electricity grid operators was established, and the Green Corridor Alliance LLC was created. Currently, the Italian company CESI is conducting the project’s feasibility study.

The Green Corridor is not merely an export route; it is a strategic platform for creating an integrated electricity market in Central Asia. The project will strengthen interconnections among national power systems, facilitate more efficient use of renewable energy resources, and create new opportunities for attracting investment.

This initiative is a practical expression of the strategic partnership between Uzbekistan, Kazakhstan, and Azerbaijan and will help transform Central Asia into an important link in the global green energy value chain.

Kambarata HPP-1: A Project for Regional Energy Security

Another important example of energy integration in Central Asia is the construction of Kambarata HPP-1.

Thanks to the political support of the Presidents of Uzbekistan, Kazakhstan, and Kyrgyzstan, as well as the coordinated efforts of the governments of the three countries, this project has finally moved from decades of discussion to practical implementation.

With a planned capacity of 1,880 MW, the hydropower plant is not merely a major energy facility. It will contribute to maintaining the water-energy balance in Central Asia, improving the reliability of electricity supply, managing seasonal demand more effectively, and ensuring the rational use of water resources in the context of climate change.

The project will also bring new investment, modern infrastructure, and thousands of jobs to the economies of the three participating countries. The involvement of the World Bank further confirms the project’s international significance and economic viability.

Central Asia: A New Global Hub for Green Energy

Today, the countries of Central Asia are demonstrating an entirely new model of development in the energy sector. Competition is being replaced by trusted cooperation, while rivalry over resources is giving way to integration based on shared interests.

Regular dialogue among Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan is helping to ensure the stable functioning of the unified energy system, coordinate water and energy resources, and improve mechanisms for mutual support in emergency situations.

At the same time, the large-scale reforms being implemented by Uzbekistan in the development of renewable energy have become an important driver of the region’s transition to a green economy. The rapid construction of solar and wind power plants, energy storage facilities, and modern electricity grids is significantly increasing Central Asia’s overall energy potential.

Today, the countries of the region are pursuing a long-term strategy aimed not only at meeting domestic energy demand but also at supplying environmentally friendly electricity to Europe and other international markets.

In conclusion, the strategic partnership in the energy sector between Central Asia and Azerbaijan is a practical result of the policies pursued by the countries’ leaders, which are based on mutual trust, friendship, and good-neighborly relations.

Major initiatives such as the Green Corridor and Kambarata HPP-1 clearly demonstrate that the countries of the region are capable of jointly addressing complex challenges. This cooperation not only strengthens energy security but also lays a solid foundation for transforming Central Asia into a strategic green energy hub connecting Europe and Asia.

According to the CERR bank ranking results for 2025, the stable positions of most financial institutions indicate a higher competitiveness threshold across the sector. At the same time, a noticeable reshuffling has emerged within the mid-tier segment.

The Center for Economic Research and Reforms (CERR) presented an updated Bank Ranking based on the results of the Bank Activity Index for Q4 2025. The study covers 35 commercial banks of the republic, including 20 large financial institutions classified by scale and branch network, and 15 banks categorized as small. The methodology is based on the analysis of 27 indicators, benchmarked against national averages and international standards, including Basel Committee requirements. The ranking serves as an important tool for enhancing transparency and strengthening trust in the financial system. This approach is consistent with international practice and is used by leading financial institutions worldwide.

Financial results for Q4 2025

During the reporting period, total assets of the banking sector amounted to 892.9 trillion soums ($74.2 bn), while liabilities reached 759.8 trillion soums ($63.1 bn). Lending increased by 13%, while deposits grew by 31%. The share of foreign-currency transactions declined, indicating strengthening of the national currency. Net profit reached 13.5 trillion soums ($1.1 bn), which is 57.1% higher than a year earlier. Over the period under review, the share of non-performing loans decreased to 3.5% from 4.3% a year earlier, pointing to improved portfolio quality. At the same time, in some banks this indicator remains above the sector average. Capital adequacy ratios exceed minimum regulatory requirements by more than 1.4 times, confirming the resilience of the banking sector.

Activity ranking of large banks for Q4 2025

The results for Q4 2025 show that sector leaders have maintained stable positions, while reshuffling within the ranking remains limited. The most notable progress was demonstrated by SQB, which climbed three positions. Positive dynamics were also recorded by Davr Bank, Orient Finance Bank, Xalq Bank, and Ipoteka Bank, all of which improved their standings in the overall ranking. At the same time, only two large banks showed a decline in activity. Invest Finance Bank and Aloqa Bank fell by four and three positions in the overall ranking, respectively. Overall, 13 banks retained their positions in the activity ranking, which, amid intensifying competition, reflects the ability of institutions to maintain operational efficiency, adequate liquidity, asset quality, and financial stability.

Dynamics of key indicators

In financial intermediation, Tenge Bank and Ipak Yuli Bank showed a decline in efficiency in attracting and allocating resources, losing four and three positions, respectively. National Bank, Asia Alliance Bank, Anor Bank, BDB, and Mikrokreditbank also dropped by one position in this category. In terms of financial inclusion, a one-position decline was recorded for Orient Finance Bank, Xalq Bank, Agrobank, BDB, and Ipoteka Bank. Regarding asset quality, six large banks registered a decline. Agrobank lost three positions, while National Bank, Trast Bank, Anor Bank, Aloqa Bank, and Asaka Bank each lost two positions. Despite the overall positive profit dynamics in the sector, two banks posted a decline in profitability, namely National Bank and Anor Bank, which fell by two and one positions, respectively. In management efficiency, weaker positions were observed for Mikrokreditbank and Anor Bank, both down two positions. In terms of liquidity, almost one-third of all large banks in the country lost positions, with the sharpest decline recorded by Davr Bank, down six positions, while Agrobank closed the ranking, falling to the last position on this indicator.

Activity ranking of small banks for Q4 2025

In the group of small banks, relative stability persists. Leaders have retained their positions. The main changes in this category also occurred in the mid-tier segment, where several banks improved their standings due to growth in financial intermediation and higher profitability. In this group, six out of 15 financial institutions, including the ranking leader Universal Bank, retained their positions. At the same time, five banks recorded declines, with the largest drop observed at Ziraat Bank, which lost three positions, while Apex Bank rose by three positions in the overall ranking. AVO Bank and Madad Invest Bank each gained two positions, while Okto Bank gained one position and secured third place in the overall group ranking.

Jafar Khidirov,
Head of Banking and Financial Research Sector

On 4-6 June, Tashkent will host the second meeting of the Termez Dialogue on Connectivity between Central and South Asia under the theme: “Peace, Connectivity, and Resilience: Shaping the Foundation for Shared Prosperity”.

Established in 2025 as a permanent international platform, the Termez Dialogue is intended to facilitate the practical advancement of the initiative put forward by the President of Uzbekistan, Shavkat Mirziyoyev, aimed at strengthening interconnectivity between Central and South Asia. This initiative has received broad international support and was enshrined in a special resolution adopted by the United Nations General Assembly on 11 July 2022.

The current meeting is organized by the Institute for Strategic and Regional Studies under the Head of our State and the Ministry of Foreign Affairs of Uzbekistan in partnership with the Conference on Interaction and Confidence Building Measures in Asia (CICA).

The forum will bring together more than 150 representatives of political, business, and expert communities, as well as international and regional organizations from Central and South Asia, Europe, the CIS, the South Caucasus, the Asia-Pacific region, the Middle East, and the Americas. This underscores the inclusive and open nature of the Termez Dialogue as a comprehensive international platform for developing joint approaches to strengthening connectivity, trust, and sustainable development across the Eurasian space.

Partners and participants of the Dialogue include the United Nations Regional Centre for Preventive Diplomacy for Central Asia (UNRCCA), the United Nations Assistance Mission in Afghanistan (UNAMA), as well as leading think tanks, research institutions, and peacebuilding organizations, including the International Water Management Institute (IWMI), the Center for Progressive Reforms, the Konrad Adenauer Foundation, the Berghof Foundation, PeaceNexus, Search for Common Ground, Georgetown University, and other organizations.

The forum programme includes a high-level plenary session on the theme: “Political Dialogue and Economic Connectivity as Pillars of Sustainable Development in the CICA Region”, as well as two special thematic sessions dedicated to joint climate change adaptation and environmental sustainability, and to deepening cultural and humanitarian cooperation.

The event will also feature expert and academic discussions, as well as side events devoted to regional security, expanding engagement with Afghanistan, including the development of the Afghanistan–Uzbekistan–Pakistan dialogue, strengthening transport and logistics connectivity, fostering regional trust, and advancing a common sustainable development agenda. Particular attention will be paid to issues of Central Asian regional identity, as well as to expanding youth cooperation in the fields of peacebuilding and sustainable development.

The forum programme also envisages off-site sessions. Participants of the Dialogue are scheduled to visit Termez, where they will have an opportunity to familiarize themselves with the modern trade, economic, and logistics infrastructure supporting cooperation with South Asian countries, including the operations of the Airitom International Trade Center and the international logistics hub Termez Cargo Center, as well as experience the rich cultural and historical heritage of the ancient city.

The third day of the Dialogue will take place in Samarkand, where delegates will explore the unique civilizational heritage of the Samarkand Renaissance, which historically served as a bridge between East and West, North and South.

The meeting is expected to conclude with the adoption of a Communiqué intended to reaffirm the commitment to strengthening trust, advancing constructive cooperation, and promoting sustainable connectivity between Central and South Asia.

Dunyo IA

The XII Inter-Parliamentary Union (IPU) Global Conference of Young Parliamentarians will be held on September 4–6^th, 2026, in the city of Samarkand, under the theme “Restoring Human Rights, Justice and Dignity for All in Fragile Times”.

The XII Global Conference is expected to convene approximately 300 delegates representing 183 countries, 15 international organizations and around 50 permanent observers.

Event program includes six thematic sessions, during which the participants will address pressing issues pertaining to the status and rights of youth in the contemporary world. Specifically, particular attention will be devoted to protecting the rights of young people amid conflicts and digital transformation, expanding their political rights and opportunities, ensuring economic rights and youth employment, as well as preventing violence against women and youth.

Conference agenda envisages innovative and interactive working formats, including breakout discussions, training sessions, and dialogue forums. This approach is designed not only to facilitate a substantive exchange of views but also to foster the development of professional contacts among young parliamentarians from different countries.

An essential component of the conference will be the convening of the Third Global Forum on Inter-Parliamentary Cooperation for Achieving the Sustainable Development Goals. The participants will review the role of parliaments and inter-parliamentary interaction in advancing the Sustainable Development Goals, alongside opportunities to enhance youth contributions toward implementing the global agenda.

Following the conference, the adoption of a final document is expected, which will contain recommendations and joint approaches of young parliamentarians on the core issues of the event's agenda.

Official working sessions of the conference will take place on September 4–5^th. The third day, September 6^th, will be dedicated to a cultural program organized by the parliament of the host country.

Annual IPU Global Conference of Young Parliamentarians was established in 2014. The conference mechanism is aimed at enhancing the role of young parliamentarians and expanding youth participation in parliamentary activities, formulating recommendations that reflect youth perspectives on the IPU’s activities and agenda, as well as broadening opportunities for networking, strengthening solidarity and developing the capacity of young people.

IPU initiative to support youth participation in political life dates back to 2010, when the resolution “Youth participation in the democratic process” was adopted at the 122^nd Assembly of the organization in Bangkok. The document underscored the necessity of full and active participation of youth and youth organizations in democratic processes at local, national, regional and international levels.

In furtherance of this initiative, IPU established the Forum of Young Parliamentarians in 2013 - an official, permanent body aimed at quantitatively and qualitatively enhancing youth participation within parliaments and the activities of the IPU.

To date, eleven Global Conferences of Young Parliamentarians have been convened, addressing a broad spectrum of pressing issues, ranging from youth participation in politics and democracy to digital transformation, climate change, education, employment and gender equality.

Dunyo IA

Samarkand

In recent years, taking into account international standards and advanced foreign experience, ensuring the protection of the rights of convicts, respect for their honor and dignity, education of morality and conscientious work for further social adaptation in society upon release, a fundamental improvement of the penal enforcement legislation in the Republic of Uzbekistan has been carried out with the introduction of effective legal mechanisms.

Currently, there are a number of international conventions and provisions aimed at protecting the rights of convicts, which are regulated by the International Covenant on Civil and Political Rights. (1966), "Convention against torture and other cruel, inhuman or degrading treatment or punishment" (1984), "Declaration on the protection of all persons from torture and other cruel, inhuman or degrading treatment or punishment" (1975), "Standard minimum rules for the treatment of convicts (Nelson Mandela rules)" (2015), "UN rules for the protection of minor children deprived of liberty " (1990), "Basic principles of the treatment of convicts" (1990).

Based on the norms of these international documents developed and adopted by the international community on standards for the treatment of convicts, systematic work is underway in the country to humanize execution and reduce negative consequences during their execution, as well as strengthen the legislative, organizational and legal framework for the protection of human rights, the implementation of international human rights standards into national legislation and other important norms human life activities that have been accepted for implementation by the Republic of Uzbekistan as a subject of the above-mentioned and other international treaties.

It is important to note that "Standard minimum rules for the treatment of prisoners" of UN 1955 are generally recognized minimum standards for the detention of prisoners and have great importance and influence on the improvement of legislation, criminal law policy and the practice of penitentiary institutions around the world.

The revised text of these standard minimum rules of December 17, 2015 at the 70th session of the UN General Assembly № A/RES/70/175 was unanimously adopted in the form of a resolution. These Rules became known as the "Nelson Mandela rules" as a sign of respect for his memory after the death of the famous statesman, the President of South Africa, who outlined these rules based on the experience of spending a long part of his life in prison.

It is also necessary to pay attention to the fact that, following the visit to Uzbekistan of the Special Rapporteur of the UN Human Rights Council, the topic "Promotion and protection of human rights and fundamental freedoms in the fight against terrorism" recommendations were made to bring the legislation of the Republic of Uzbekistan into line with the minimum standard rules for the treatment of prisoners (Nelson Mandela rules), in order to improve the conditions of detention of convicts in penal institutions, to ensure the rights to freedom of religion, which formed the basis of the “Road maps”, developed in accordance with the National Action Plan of the Republic of Uzbekistan.

In order to ensure the fulfillment of these tasks, the conditions of detention of convicts in penal institutions of the Republic of Uzbekistan are considered on the basis of the requirements of the standard minimum rules for the treatment of prisoners (Mandela rules), which are gradually being implemented in accordance with these rules.

On the basis of international standards of the rights and duties of convicts, taking into account the best practices of foreign countries, the system of execution of punishments is being radically improved, the problems that have accumulated over the years are being solved.

In the new version of the Constitution of the Republic of Uzbekistan the right to life is an inalienable right of every person and is protected by law. The most serious crime is an attempt on a person's life. The death penalty is prohibited in the Republic of Uzbekistan. Essence is that no one can be intentionally deprived of life. This norm is in line with the Convention for the Protection of Human Rights and Fundamental Freedoms, as well as the International Covenant on Civil and Political Rights. The human right to life is recognized as a natural and inviolable right arising from the moment of his birth, and belongs to a person regardless of the existence of statehood and laws.

In recent years, as part of the work to bring national legislation into line with international standards, for the first time the right to be elected was granted to convicts, except for persons who committed serious and especially serious crimes (Part 6 of Article 128 of the Constitution of the Republic of Uzbekistan). The number of convicts held in institutions of general, strict, special, prison and educational regime has doubled, for correspondence, receiving visits, parcels, transfers and parcels, conducting telephone conversations.

In addition, those sentenced to imprisonment are guaranteed psychological assistance and non-application of disciplinary measures for violations committed at the time of mental disorder, and the right to a pension is established for those serving sentences in penal colonies.

Law of the Republic of Uzbekistan June 30, 2020 introduced a new norm into the Penal Enforcement Code defining the procedure for the application of incentive measures for persons serving sentences, expanded measures aimed at ensuring the personal safety of convicts while serving their sentences.

At the request of the convicts, long-term visits can be replaced by short-term visits or remote video calls or telephone conversations, and short-term visits are replaced by remote video calls or telephone conversations. Persons serving sentences from low-income families are employed in high-paying jobs.

In the process of ongoing reforms, special attention was paid to creating decent conditions for convicts, for this purpose, the pre-trial detention facility -64/1, which had a negative character and was popularly nicknamed "Tashturma", was closed in Tashkent. Instead, a new pre-trial detention facility №1 has been built and is functioning in  Zangiata district of the Tashkent region, fully meeting international standards. Similarly, the institution "Jaslyk" in Karakalpakstan was abolished, and the convicts held in it were transferred to other colonies of the republic.

In recent years, there has been a tendency in our country to use alternative, non-custodial measures, which has reduced the number of convicts sent to penal institutions. This situation has made it possible over the past four years to reduce three penal colonies of the general regime, one each in Navoi, Kashkadarya and Tashkent regions.

In the Republic, the legislative, executive, and departmental authorities constantly monitor compliance with the rule of law and ensure the rights and legitimate interests of persons serving sentences in places of deprivation of liberty.

Thus, with the introduction of the post of Commissioner of the Oliy Majlis of the Republic of Uzbekistan for Human Rights (Ombudsman) He was granted the right to freely visit penal institutions. The Ombudsman and the Prosecutor have separate mailboxes designed for applications and complaints from these persons. The Prosecutor's Office and the Ombudsman regularly examine the observance of laws in penal institutions. The management of the Department for the Execution of Punishment constantly carries out field visits to places of deprivation of liberty in order to study the complaints and statements of convicts and make an appropriate decision and its immediate execution.

It should be added that, according to the recommendations of the UN charter bodies and treaty committees, the national preventive mechanism is being improved on the basis of the "Ombudsman Plus" model. The Ombudsman, and the Children's Ombudsman, the National Center for Human Rights and the Business Ombudsman have also been given the authority to monitor penal institutions.

As a result of the ongoing reforms, completely new priorities of the State penal enforcement policy have been developed and put into practice, providing for the following main aspects.

In particular, the Penal Enforcement Code has been supplemented with a new Article 102 "Procedure for the application of incentive measures", which abolished restrictions on visits of juvenile convicts with their parents or persons replacing them; convicted pregnant women with children are granted additional rights to long visits with minor children lasting up to five days - four times a year as well as long - term visits with the possibility of living outside the territory of the institution, the application of incentive measures to convicts - at least twice a year; if there is a threat to the safety of a person sentenced to imprisonment, it is established that he can apply, verbally or in writing, to any employee of the institution for the execution of punishment in order to ensure the declared safety, while the requirement is defined – upon receipt of such a statement about the need for immediate action, measures should be taken immediately to ensure his safety. An important requirement is also to prevent the unjustified use of rudeness, physical force and special means by employees and military personnel during the search of convicts; timely and appropriate conduct of long and short-term visits, telephone conversations, remote video communication, short-term remote video communication or telephone conversation.

It should be noted that such measures of encouragement for convicts are also enshrined in the penal codes of Spain, Turkiye, Japan and some other countries.

In accordance with the norms of the Penal Enforcement Code of the Republic of Uzbekistan, penitentiary institutions provide measures to protect the health of convicts, ensure their education, free use of libraries and other authorized sources of information (radio, television, movies and video films, etc.).

The "Import model" of prison management in Norway with a developed penal enforcement system is of interest. To implement this model, work is underway to establish a system of providing services (education, library use, health care) in places of detention.

It is also necessary to mention the Law of the Republic of Uzbekistan dated December 7, 2021, which, in order to humanize minors in the Penal Enforcement Code, provides for a norm defining the placement of persons in educational colonies not from the age of 13, but from 14. This has become one of the important steps towards reliable protection of the rights and legitimate interests of minors in the process of criminal and judicial proceedings in our country.

In order to further deepen the large-scale reforms being implemented in the system of Ministry of Internal Affairs, decree of March 26 and Resolution of April 2, 2021, the Main Directorate for the Execution of Punishment was transformed into the Department for the Execution of Punishment under the Ministry of Internal Affairs, it defines the legal basis for the department's activities to ensure the order of serving punishment by digitalizing the penal enforcement system, which will eliminate errors related to the human factor.

In addition, the law of the Republic of Uzbekistan dated February 15, 2023 "On State pension provision for citizens" provides that any work performed by persons sentenced to imprisonment while serving their sentence in penal institutions may be envisaged that the convicted person will be included in the work record in case of tax payment. This procedure is now defined in Article 96 of the Penal Enforcement Code of the Republic of Uzbekistan in a new edition, which has been renamed as "Payment of social tax and pension provision for convicts." Its first part defines "The expenses of institutions for the execution of punishment for the payment of labor sentenced to imprisonment that are subject to social tax", along with this, convicts have the right to transfer funds and use other services provided to convicts.

An important legislative decision is the prohibition of the use of a punishment measure with the use of a "straitjacket". This provision is based on Article 26 of the Constitution of the Republic of Uzbekistan, which states: "No one may be subjected to torture, violence, or other cruel, inhuman or degrading treatment or punishment" directly acts to prevent the use of torture and other cruel, inhuman or degrading treatment or punishment in penal institutions.

As a result of the ongoing reforms in the system of state penal enforcement policy, it is stipulated that common living quarters for persons with disabilities of groups I and II sentenced to imprisonment should be equipped with special means and devices; it is allowed to watch films, television and radio broadcasts, except for the time allotted for night rest; criteria for treatment are defined convicts.

In addition, it is important to eliminate corruption factors in assessing the behavior of convicts by including the length of service in the institution in the total length of service for their further retirement and, most importantly, by establishing strict criteria that determine the way to correct convicts.

The above allows us to conclude that the reforms carried out in this area are yielding positive results. In particular, recently the offenses of convicts in places of deprivation of liberty and after their release have been reduced; to a greater extent, the conditions of serving a sentence in the form of imprisonment comply with international standards, the incentive mechanisms applied to convicts serving sentences and those who have embarked on the path of correction are being improved, they ensure the protection of the rights, freedoms and legitimate interests of convicts, allowing them not to violate their interests; Public groups and citizens' self-government bodies are actively involved in the educational process of correcting convicts; offenses by law enforcement agencies have significantly decreased.

Mirzayusup Rustambayev,

Head of the University of Public Safety of the Republic of Uzbekistan, Doctor of Law, Professor