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Uzbekistan nominated for Chairmanship of the UN Tourism Comission for Europe for 2025–2027 term
Uzbekistan nominated for Chairmanship of the UN Tourism Comission for Europe for 2025–2027 term

May 13. /Dunyo IA/. Uzbekistan has nominated its candidacy for the Chair of the UN Tourism Comission for Europe (CEU) for the 2025–2027 term.

This marks the first time in its history that Uzbekistan has put forward a candidate for this prestigious position, underscoring the country’s growing engagement in global tourism affairs and the high level of trust it has earned within international tourism bodies.

The UN Tourism Comission for Europe consists of 41 member countries from Europe as well as Central and Western Asia. It plays a pivotal role in shaping tourism policy across the region, promoting regional cooperation, and advancing sustainable and inclusive tourism development.

The 71st meeting of the Commission will be held on June 4–6, 2025, in Baku, Azerbaijan. During this session, elections are scheduled to take place for the Chair of the CEU for the 2025–2027 term.

Uzbekistan’s nomination for this position is viewed as recognition of the country’s consistent reforms in the tourism sector, its practical efforts to strengthen regional cooperation, and its contribution to the development of sustainable and inclusive tourism.

If elected, Uzbekistan intends to promote new initiatives aimed at positioning Central Asia as a unified tourism destination, developing cross-border routes, widely implementing digital solutions, and enhancing regional dialogue within the framework of the United Nations World Tourism Organization.

Proposals on further development and increase of competitiveness of the jewelry industry were considered
Proposals on further development and increase of competitiveness of the jewelry industry were considered

President Shavkat Mirziyoyev was given a presentation on measures to further develop the jewelry industry, support jewelry production and sales, and increase exports of finished products.

Our country has a huge potential for increasing production and export of jewelry.

As the head of state noted, only 6 percent of gold mined in the country is processed, and exports of its products amount to only 78 million dollars, so it is important to create jewelry zones with special conditions for entrepreneurs, to review the provision of raw materials, training of specialists, production chain and sales system.

In this regard, the Ministry of Economy and Finance and the Chamber of Commerce and Industry have developed relevant proposals.

In particular, it is planned to improve the activity of the Uzbekzargarsanoati association, expand its powers and reorganize the management system.

In order to support manufacturers of the industry, it is proposed to apply the benefits provided for members of the Association "Uzbekzargarsanoati" to individual entrepreneurs - manufacturers of jewelry, who are members of the Association "Uzbekzargarsanoati".

The possibility of establishing a zero rate of customs duty and value added tax on equipment, packaging and marking materials that are not produced in Uzbekistan and used in the jewelry industry for the period up to October 1, 2026 is being studied.

The issues of creation of special jewelry centers including production, exhibition and trade areas were considered. Information was provided on the placement of pilot projects in Tashkent and Namangan region.

The issue of increasing the volume of jewelry exports was discussed. It was proposed to establish a zero rate of customs duty for export of jewelry made in our country to the United States of America under the GSP system.

The head of state instructed to finalize the presented measures and work out a program for the development of domestic jewelry production for the period up to 2027.

Participants of the International Scientific and Practical Conference “The Role of Scientific Heritage of Imam Termezi in Islamic Civilization”
Participants of the International Scientific and Practical Conference “The Role of Scientific Heritage of Imam Termezi in Islamic Civilization”

Dear forum participants!

Dear guests!

I sincerely congratulate you, all those who make a worthy contribution to the development of the holy religion Islam, on the opening of the international scientific-practical conference dedicated to the study of the scientific heritage of the great muhaddis Imam Termezi in the homeland of outstanding Muslim scholars - in Uzbekistan.

It is gratifying that today's authoritative forum is attended by renowned specialists in the field of Islamic studies - prominent scholars and ulema, experts and researchers. In your person we see the continuers of the good traditions of the great thinkers who are the pride of the Muslim world - Imam Bukhari and Imam Termezi.

May the Almighty bless you, I wish you happiness and prosperity!

Dear friends!

Speaking about our outstanding ancestors-scientists, bright representatives of the Islamic world of the Middle Ages, we, of course, among the first names of Hazrat Imam Termezi.

We are rightfully proud of this incomparable person, the favorite disciple of the great Imam Bukhari, who was honored with the high rank of Sultan of Muhaddis, who has been glorifying our region for twelve centuries with his undying works and high human qualities.

Imam Termezi is recognized in the world as one of the six great muhaddis, his collection of hadiths is among the most revered and reliable sources, and the Muslim Ummah bows before the name of this outstanding man.

Another practical expression of such recognition is the fact that the topic for discussion at today's conference was the unique works of Imam Termezi “Ash-Shamoil al-Muhammadiyya” and “Sunani Termiziyya”, as well as important issues concerning the scientific heritage of the Ulema Termezis and its relevance today.

Dear participants of the conference!

In recent years, a great work has been carried out in our country to study and popularize the invaluable heritage of many of our thinkers-theologians who made a great contribution to the development of the Islamic religion, to honor their memory, to improve the places associated with their life and activities, including Imam Termezi.

It should be noted that a magnificent memorial complex has been erected in his honor in Sherabad district of Surkhandarya province, and an international research center, a specialized Islamic secondary school and an Islamic institute have been opened in the city of Termez bearing his name.

These institutions, together with the International Islamic Academy of Uzbekistan, the Centre for Islamic Civilization, the Hadith Scientific School and other religious educational and research organizations, are studying the rich heritage of Imam Termezi in a comprehensive and in-depth manner. In particular, works of the thinker are published, scientific researches, books and artistic works are dedicated to him.

I hope that after familiarizing yourselves with the work carried out in this direction within the framework of the conference, you will express your opinions and proposals on further activation of cooperation in this field.

We, the heirs of great scientists, emphasizing that Islam is a religion of peace, goodness and humanism, on the way of realization of good hopes and aspirations of mankind, consider it our most important duty to jointly enrich this incomparable spiritual treasure and preserve it for future generations.

I express my deep gratitude to the scientists and ulema of our country and to you, dear guests, to all figures of science who show real dedication for such a noble goal.

The doors of the leading research and educational institutions of Uzbekistan are always open for you.

Greeting you once again from the bottom of my heart, I wish you health, new achievements in your scientific and creative activities, and a successful conference.

 

Shavkat Mirziyoyev,

President of the Republic of Uzbekistan

Eldor Aripov emphasized the importance of the Termez Dialogue for strengthening connectivity between Central and South Asia
Eldor Aripov emphasized the importance of the Termez Dialogue for strengthening connectivity between Central and South Asia

The first session of the Termez Dialogue on Connectivity between Central and South Asia on the topic “Building a Common Space of Peace, Friendship and Prosperity” started today in Termez.

In his welcoming speech, Eldor Aripov, Director of the Institute for Strategic and Regional Studies under the President of the Republic of Uzbekistan (ISRS), emphasized the significance of holding the forum in the city of Termez. "Located at the junction of Central and South Asia, this ancient city has served as a "nodal point" of interregional connectivity since time immemorial," the expert noted.

Eldor Aripov also added that Termez was a center of intercultural and religious dialogue, where the traditions of Zoroastrianism, Buddhism, Christianity and Islam were born and developed. The city was located between ancient states such as the Greco-Bactrian and Kushan kingdoms, and flourished during the Timurid era, becoming a major trade, craft and scientific and educational center.

Moreover, the expert noted, the ancient Northern Trade Route, connecting India and Central Asia, passed through Termez. Today, the city is actively modernizing and reviving its role as the southern gate of Uzbekistan, once again becoming an important link between Central and South Asia.
“The rich historical heritage of Termez creates a solid foundation for the formation of a single space for cooperation, opening up new strategic opportunities for common development,” he said.

Developing this idea, Eldor Aripov emphasized the importance of holding the Termez Dialogue. According to him, "in the conditions of global instability, a free and constructive dialogue based on respect and equal participation of all parties is more important than ever."

Based on this logic, the expert said, in July 2021, at the initiative of Uzbek President Shavkat Mirziyoyev, a high-level international conference “Central and South Asia: regional connectivity. Challenges and Opportunities”, and in 2022 the UN adopted a relevant resolution. These steps laid the foundations for a new regional agenda based on cooperation and revitalization of historical ties.

"Today, all the necessary conditions have been created for this," Aripov noted. A strong consensus has been formed in Central Asia regarding joint deepening of cooperation with South Asia, which is confirmed by support for the CASA-1000, TAPI and Trans-Afghan Corridor projects.

In addition, the ISRS Director noted that Afghanistan is gradually transforming and striving to live in peace and harmony with its environment. The country's interest in fully integrating into regional ties, including those with Central Asia, provides an opportunity to strengthen the connection between the two regions.

Speaking about the interaction between Central and South Asia, Eldor Aripov noted that in recent years it has been developing steadily, with the economic agenda playing a key role in this process. According to the results of last year, mutual trade turnover exceeded five billion dollars. However, according to him, these figures remain quite modest and do not correspond to the enormous potential that the regions have.

In order to take economic cooperation to a qualitatively new level, the expert believes it is important to further simplify trade procedures, create a multi-variant system of transport corridors and develop energy infrastructure.

In this context, special attention was paid to the strategic importance of the speedy implementation of the Trans-Afghan Corridor construction project. It was emphasized that its implementation will provide the countries of the region with the shortest access to the ports of the Indian Ocean, and will connect South Asia with the markets of Central Asia, Russia, China and Europe."

The expert expressed hope that the Termez Dialogue will offer a new paradigm of relations, free from conflicts and confrontation, based on the principle of cooperation for the benefit of the prosperity of the regions.

In this context, concluding his speech, ISRS director quoted the words of the President of the Republic of Uzbekistan Shavkat Mirziyoyev, that "the historical and civilizational community of Central and South Asia, the coinciding interests of our countries and peoples are a solid foundation on which we can build a common prosperous future. The time has come to realize that without strengthening cooperation and effective regional connectivity, we will not be able to overcome the challenges that our countries face today."

For information: the first meeting of the Termez Dialogue on the connectivity between Central and South Asia on the topic: “Building a common space of peace, friendship and prosperity” is being held in Termez from May 19 to 21.

The event was organized by ISRS, the Ministry of Foreign Affairs of the Republic of Uzbekistan, and the Chamber of Commerce and Industry of the Republic of Uzbekistan.

The forum brought together about 200 participants from Central and South Asia, Europe, the CIS, Asia Pacific, America, and the Middle East. Among them were representatives of political and economic circles, business circles, financial institutions, international and regional organizations, as well as prominent experts from analytical and research centers around the world.

Cities of the Future and the Strategy of New Uzbekista
Cities of the Future and the Strategy of New Uzbekista

The 21st century is increasingly being referred to as the era of cities. Today, urbanization extends far beyond the domestic policies of states. The quality of the urban environment directly influences countries’ investment attractiveness, economic resilience, and ability to adapt to climate challenges. Cities are increasingly becoming platforms for international cooperation, technology exchange, and the promotion of new models of sustainable development. In this era, cities are turning into a new diplomacy, a new economy, and a new form of global influence.

It is under these conditions that the 13th Session of the World Urban Forum is taking place in Baku under the theme “Housing for All: Safe and Resilient Cities and Communities.” This representative summit is dedicated to finding solutions to the global housing crisis, which today affects nearly 3 billion people.

It is symbolic that the global discussion on the future of cities is being held in one of the most dynamically transforming cities of Eurasia. Hosting the forum in Azerbaijan reflects the growing importance of the Caspian–Central Asian region as a new center of infrastructural, logistical, and urban development.

Over recent years, this vast region has gradually transformed not only into a major transport hub connecting East and West, but also into a space of large-scale urban transformation.

Baku itself has in recent years become a notable example of modernization in urban infrastructure, transportation systems, and public spaces. Additional significance is attached to Azerbaijan’s policy of restoring and modernizing liberated territories, where particular attention is paid to the concepts of “smart” and “green” cities.

Most cities and countries across Eurasia are changing rapidly. Central Asia is experiencing one of the most significant spatial transformations of recent decades. Population growth, the expansion of urban agglomerations, and increasing pressure on infrastructure require fundamentally new approaches to urban development.

All these processes are unfolding amid intensifying climate challenges. The consequences of the Aral Sea desiccation, water scarcity, and rising temperatures make urban resilience not only an environmental issue, but also a matter of the region’s long-term security.

According to the International Energy Agency, modern buildings consume around 30% of global energy and account for approximately 26% of global emissions. As a result, by the middle of the century more than 1.6 billion urban residents may face water shortages and climate-related risks. Close international cooperation in the sphere of sustainable urban development is becoming an inevitable paradigm.

It is therefore no coincidence that the urban agenda plays a prominent role in Uzbekistan’s development. In recent years, the development of urban environments, infrastructure, and housing construction has become one of the key priorities of the New Uzbekistan strategy. In the country, the construction process is viewed as the foundation for long-term economic growth, sustainability, and quality of life.

The participation of the President of Uzbekistan in the World Urban Forum reflects the country’s aspiration to integrate more actively into global urban policy. Of particular importance is the republic’s participation in the international exhibition Urban Expo, where the “New Tashkent” project, the “Yangi O‘zbekiston” residential complexes, and large-scale reforms in urban planning and housing policy are being presented.

Urbanization has become one of the key pillars of the New Uzbekistan strategy. According to forecasts, the country’s population may increase from 38 million to 50 million people over the next 15 years. Under these conditions, the development of cities, housing, and infrastructure becomes a matter of the state’s strategic future.

In recent years, Uzbekistan has been implementing the largest infrastructure and housing modernization program in the region. According to the Address of the President of the Republic of Uzbekistan Shavkat Mirziyoyev to the Oliy Majlis and the people of Uzbekistan, over the past nine years the country has constructed 210 million square meters of residential and non-residential facilities. In 2025 alone, multi-apartment residential buildings with a total area of 8.1 million square meters were commissioned, amounting to approximately 135,000 apartments.

Particular attention is being paid to the development of regions and small cities. Uzbekistan is pursuing a more balanced model of urbanization that предусматривает the development not only of the capital, but also of regional centers. An important element of the new urban policy is the environmental agenda. The country is introducing principles of “green” construction, expanding urban greening initiatives, and implementing the nationwide “Clean Air” project aimed at improving air quality.

The main symbol of the new era of urbanization is becoming the “New Tashkent” project — a modern next-generation megapolis with sustainable infrastructure, green areas, digital services, and a modern transport system. At the first stage, the project envisions infrastructure for 600,000 residents, while after full completion the population of New Tashkent may reach 2 million people.

“New Tashkent” demonstrates the country’s development priorities and redefines the very philosophy of the urban environment in Central Asia. The reforms initiated by the Leader of Uzbekistan have already transformed the country’s cities into a factor enhancing the nation’s international competitiveness.

At the forum, the President of the Republic of Uzbekistan Shavkat Mirziyoyev presented his own comprehensive vision of what the cities of the future should become under conditions of rapid urbanization, climate challenges, and technological change. Traditionally, the Head of State addressed not only the national agenda, but also pressing issues concerning the global future of the modern urban environment.

One of the key initiatives is the idea of “balanced urbanization,” which implies the harmonious development not only of megacities, but also of small and medium-sized cities. At a time when the world’s largest cities are facing infrastructure overload, housing shortages, and deteriorating environmental conditions, this approach is becoming increasingly relevant.

In essence, this concerns the formation of a fairer and more sustainable model of urban development, where opportunities for comfortable living are created not only in capitals, but also in the regions.

Special attention has also been paid to the digital transformation of the urban environment. In particular, the initiative to establish a network of “smart and safe cities” for the exchange of technologies, advanced solutions, and experience in the fields of artificial intelligence, digital governance, and urban security appears highly relevant.

Against the backdrop of rapid technological advancement, such an initiative appears especially timely and reflects the country’s aspiration to participate more actively in shaping the new global technological agenda.

A separate topic of discussion was the climate resilience of cities. In the context of the intensifying climate crisis, there is a growing demand for promoting the principles of “green” urbanization and expanding environmental standards.

All these proposals are particularly relevant for Central Asia, where issues of water, ecology, and urban sustainability are already becoming matters of the region’s long-term security.

Importantly, today Uzbekistan is not limiting itself merely to discussing global challenges, but is striving to offer its own solutions. The large-scale reforms being implemented in the country, the construction of “New Tashkent,” and the promotion of modern approaches to urban development are gradually shaping a new image of Uzbekistan — a state ready not only to adapt to global changes, but also to participate in shaping the cities of the future.

This is precisely why it is becoming increasingly evident that, in the future, Uzbekistan is ready to become one of the international platforms for seeking constructive solutions on issues of global urbanization, sustainable development, and the formation of a new urban architecture for the 21st century.

In conclusion, it should be noted that the modern world is increasingly entering an era of global competition among cities, infrastructures, and quality of life. It is cities that in the coming decades will determine economic resilience, investment attractiveness, and the technological level of states. Against this backdrop, Central Asia is gradually turning into one of the new spaces of large-scale urban transformation in Eurasia.

By implementing the strategy of New Uzbekistan, our country is already shaping its own model of a modern, sustainable, and people-oriented city of the future. Large-scale reforms, infrastructure development, the promotion of the “green” agenda, and the “New Tashkent” project demonstrate the aspiration not only to adapt to global changes, but also to become one of the centers shaping the new urban architecture of the region.

Author: Guli Nizamova, Leading Research Fellow at the Center for Foreign Policy Studies and International Initiatives

Relations between Uzbekistan and the United States have entered a phase of regular strategic communication
Relations between Uzbekistan and the United States have entered a phase of regular strategic communication

An expert from the Institute for Strategic and Regional Studies under the President of Uzbekistan, commented to Dunyo IA on the outcomes of President Shavkat Mirziyoyev’s working visit to the United States, which took place from February 17 to 19:

- The visit of the President of Uzbekistan to the United States, which took place as part of his participation in the first meeting of the Board of Peace, was not just another diplomatic event, but a logical continuation of the strategy of pragmatic and mutually beneficial dialogue with Washington built over recent years. It demonstrated a shift from symbolic political interaction to systemic coordination in security, economics, trade, and humanitarian exchanges.

This visit marked the culmination of an intensive partnership over the past six months. Meetings on the sidelines of the UN General Assembly, the C5+1 summit, participation in events in Davos, and the signing of the Charter of the Board of Peace, as well as personal contacts between the two leaders, have fostered a stable dynamic of political dialogue. This fifth summit in six months demonstrates that relations have entered a phase of regular strategic communication, with each meeting reinforced by concrete agreements.

The visit’s busy business program confirmed its practical nature. During his stay in the United States, the head of state held talks with representatives of the American administration, financial institutions, and business circles, including the Export-Import Bank of the United States, the International Development Finance Corporation, the American-Uzbekistan Chamber of Commerce, as well as the heads of major companies such as Traxys, Valmont Industries, Gulf Oil, Aviagen, John Deere, BlackRock Financial Markets Advisory, Oppenheimer, and others. Following the signing of bilateral documents, the parties solidified agreements in priority areas such as the agro-industrial complex, critical minerals, financial market development, improving the investment climate, and the creation of an investment platform.

Discussions with the US Trade Representative and the Secretary of Commerce deserve special attention. During these talks, the need to intensify work within the framework of the Trade and Investment Framework Agreement between the countries of Central Asia and the United States was emphasized. This gave cooperation not only a bilateral but also a regional dimension, strengthening Uzbekistan’s position as a coordinator of economic processes in the region.

Viewed historically, the current stage’s foundation was laid back in 2018 during Shavkat Mirziyoyev’s first official visit to Washington, when agreements worth over $4.8 billion were signed. This package signaled Uzbekistan’s systemic openness to international businesses. In 2021, the Strategic Partnership Dialogue was established, and its subsequent expansion testifies to the institutionalization of bilateral relations. The invitation of the Uzbek leader to the G20 summit in Miami, personally initiated by US President Donald Trump, further confirmed the country’s strengthening international status and recognition of its growing role on the global agenda.

The economic dimension of cooperation is demonstrating steady growth. While trade turnover stood at $408 million in 2018, it consistently exceeded $1 billion by the end of 2024-2025. The current three-year Economic Cooperation Program, worth $35 billion, reflects the long-term nature of the parties' intentions. At the same time, the structure of interaction is undergoing a qualitative change: the emphasis is shifting from trade operations to the implementation of investment and production projects.

Today, flagship American companies such as Air Products, General Electric, General Motors, Boeing, Honeywell, and John Deere are actively operating in Uzbekistan. The $8.7 billion package of agreements signed at the C5+1 summit, including a contract for 22 Boeing aircraft, investments in the critical minerals sector, and projects in the agro-industrial sector, confirms the practical focus of the dialogue.

The transformation of the export structure is particularly revealing: services now account for approximately 86% of Uzbek exports to the US, with the IT sector remaining the key driver. Of the 800 active digital services exporters, 448 target the US market, accounting for 45% of all industry exports. This demonstrates that the partnership is gradually becoming more high-tech, moving beyond traditional commodity-based models.

The humanitarian dimension of cooperation is no less important. Academic exchange is expanding, the number of joint research projects is growing, and the integration of Uzbek specialists into international educational networks is strengthening. Currently, 40 Uzbek universities are implementing partnership programs with more than 25 US universities. Webster University’s Tashkent branch and the American University of Technology, established jointly with Arizona State University, are successfully operating. Thus, a long-term intellectual infrastructure for strategic partnership is being formed.

Overall, the current stage of relations between Uzbekistan and the United States is characterized by a transition from symbolic declarations to systemic coordination on issues of regional security, sustainable development, investment policy, and technological modernization. These achievements confirm that Uzbekistan is steadily establishing itself as a key US partner in Central Asia.

Dunyo IA

Tashkent as Central Asia’s Investment Capital: What to Expect from the Fifth International Investment Forum
Tashkent as Central Asia’s Investment Capital: What to Expect from the Fifth International Investment Forum

The Fifth Tashkent International Investment Forum will take place on June 16–19, 2026. This year’s theme – “Investment Resilience: New Frontiers, New Partnerships” – frames the agenda around a set of pressing questions: how to protect capital amid global uncertainty, what institutional mechanisms enhance investment resilience in frontier markets, and where the new partnership routes lie.

The forum’s context is set by macroeconomic results. According to the National Statistics Committee, Uzbekistan’s GDP grew by 7.7% in 2025 and exceeded $147 billion – the fastest pace since 2021 and among the highest in the Europe and Central Asia region. Fitch Ratings and S&P Global upgraded the country’s sovereign rating from BB– to BB for the first time, while Moody’s revised its outlook to “positive.” International reserves, per the Central Bank, surpass $77 billion. Exports rose 24% to $33.8 billion. Foreign direct investment increased by 46.9%, with FDI accounting for 40.5% of total capital investment. For an economy that attracted only $4 billion in annual foreign investment in 2017, the surge to $42 billion by 2025 represents a fundamentally different scale of growth. This tenfold increase over eight years underscores a profound transformation in the nation's investment landscape.

The forum is scaling alongside the economy. Last year’s TIIF drew over 8,000 participants, including some 3,000 international delegates from 97 countries. Guests included Bulgarian President Rumen Radev, Slovak Prime Minister Robert Fico, heads of government from all Central Asian states, EBRD President Odile Renaud-Basso, and New Development Bank President Dilma Rousseff. The aggregate value of signed investment contracts and trade agreements reached $30.5 billion. Yet what best speaks to the platform’s maturity is not the number of signings but the conversion rate – the share of agreements that translate into operating assets is increasingly the metric that matters to returning investors.

The centrepiece of this year’s forum will be the Tashkent International Financial Centre (TIFC), established by presidential decree in March 2026. Behind the headline sits a specific institutional architecture: a special legal regime based on common-law principles, a dedicated financial services regulator, an arbitration centre (TIAC), and tax exemptions through 2076. TIFC is part of a global trend toward specialised financial hubs that offer international market participants a familiar legal environment and regulatory predictability. Its defining feature is integration within the country’s legal framework: the centre operates under a special legal regime rather than creating a separate jurisdiction, reducing regulatory fragmentation and simplifying engagement with the domestic economy. A panel session featuring leaders of major global financial centres and international investors operating in Uzbekistan will address the central question: what are the practical conditions under which TIFC can attract international market participants.

The TIIF 2026 programme is structured around four thematic pillars: investment resilience and capital protection mechanisms, financial infrastructure and capital market development, trade connectivity and logistics corridors, and energy transition and climate finance. Key sessions include a discussion of the regulatory framework for alternative investment funds (a legal basis for private equity and venture capital being adopted for the first time), a panel on the Middle Corridor and trans-Caspian logistics, a session on sovereign ratings across Central Asia, and a practitioner-led workshop on blended finance instruments in frontier markets. A dedicated arbitration and dispute resolution track features two panel sessions co-organised with the Tashkent International Arbitration Centre (TIAC), the British-Uzbek Legal Association (BrULA), and the British Embassy. Topics range from the institutional design of Uzbekistan’s arbitration ecosystem – including the innovative Dispute Avoidance Protocol (DAP) – to the country’s positioning within the global investment protection architecture: ISDS frameworks, bilateral investment treaty reform, and New York Convention enforcement.

The energy agenda warrants particular attention. Uzbekistan has set an ambitious target of raising the share of renewables in electricity generation to 54% by 2030. Currently, the country operates solar and wind facilities with a combined installed capacity exceeding 4 GW, with a project pipeline envisaging an additional 19 GW of green capacity. Alongside this, the public-private partnership mechanism continues to develop: as of early 2025, PPP agreements worth approximately $28 billion had been signed in the country. For investors, this represents a large, structured market with standardised PPA contracts and a clear entry mechanism – a subject that will be examined in detail during the forum’s energy panel.

TIIF 2026 retains its bilateral business forum format, reflecting the expanding geography of Uzbekistan’s economic partnerships. Confirmed platforms include business forums with the Republic of Korea, the United States, Croatia, Hungary, Turkey, and Albania, as well as a China–SCO countries investment dialogue; the lineup continues to grow as the event approaches. The plenary session featuring heads of state and government will set the tone for the business programme. Running in parallel is an exhibition of industrial and investment potential spanning approximately 6,000 sq m – in 2025, a comparable facility facilitated over 500 B2B and B2G meetings for 100 participating companies.

At the same time, the forum agenda implicitly flags unresolved challenges. The corporate governance session raises the question of transitioning from concentrated to dispersed ownership – a process without which the stock market will remain illiquid. The discussion of privatisation and state asset IPOs calls for a candid conversation about pacing and institutional quality. The responsible business conduct panel, anchored in OECD standards, recognises that tax incentives alone are insufficient for accessing institutional capital – what is needed is verifiable supply chain transparency and functioning National Contact Point mechanisms.

The business programme is complemented by networking formats: an FIC and EY business breakfast on digitalisation and AI, the annual SQB Investor Day, an ESG Award ceremony, and the European Business Evening. The informal component – an invitational tennis tournament, TIIF Open, and an evening run – is designed for delegates who prefer to build relationships beyond the conference hall. The anniversary evening concludes with a collaboration with the Stihia electronic music festival – a detail that captures the tone in which Uzbekistan presents itself to an international audience.

For Uzbekistan, TIIF has long ceased to be a showcase. It is a working instrument of investment policy, whose effectiveness is measured not by the number of signing ceremonies but by the volume of capital that actually enters the economy between forums. The fifth, anniversary edition takes place at a moment when the country is simultaneously launching an international financial centre, adopting an alternative investment funds law, and receiving a sovereign rating upgrade – a convergence that creates a window of opportunity for investors prepared to operate in frontier markets with a growing institutional base.

A New and Technological Approach to Elections Begins
A New and Technological Approach to Elections Begins

The Central Election Commission held a meeting and a series of events today, July 26th. The primary agenda item was the preparation and high-level accomplishment of the upcoming elections for the Legislative Chamber of the Oliy Majlis and the Councils of People's Deputies in full compliance with the Constitution and laws.

According to Article 128 of the Constitution of the Republic of Uzbekistan, elections for the Legislative Chamber of the Oliy Majlis and the Councils of People's Deputies are scheduled to take place on the first Sunday of the third ten-day period of October in the year their term expires. Considering that the term of the deputies of the Legislative Chamber of the Oliy Majlis and the Councils of People's Deputies ends in 2024, the elections will be held on October 27th of this year, and the election campaign will begin on July 26th, as decided by the Central Election Commission.

These elections mark a significant departure from the past, taking place in a new socio-political environment as stipulated by our Constitution. The meeting underscored the unique features of these elections, which include:

  1. For the first time in Uzbekistan's history, the Legislative Chamber of the Oliy Majlis elections will be conducted using a mixed electoral system, combining majoritarian and proportional systems. This significant change will see seventy-five deputies elected directly through the majoritarian system, where voters vote for specific candidates. The remaining seventy-five deputies will be elected based on votes cast for political parties under the proportional system.
  2. One of the most significant advancements is the full digitization of election commissions' activities at all levels and their interactions with participants in the election process. This development significantly reduces bureaucracy, time, and document handling in election procedures, ushering in a new era of efficiency in our electoral system.
  3. Our election legislation has been fundamentally improved to align with advanced democratic standards. These improvements include introducing a new system for election bodies led by the Central Election Commission and requiring political parties to ensure that at least 40% of their candidates for deputy positions are women. Additionally, a candidate must receive a relative majority of votes to be elected. If a candidate gets more votes than other candidates in their respective electoral district, they will be elected without needing a repeat vote.
  4. The elections are taking place in conditions of significantly strengthened parliamentarianism and the powers of representative bodies at the local level, as established by the Updated Constitution. Specifically, the absolute powers of the Legislative Chamber have increased from 5 to 12, and those of the Senate from 12 to 18. The parliament's oversight functions over the activities of executive, judicial, law enforcement agencies, and special services have been expanded. The institution of hokims leading local Councils of People's Deputies is being abolished. To enhance the role of representative bodies in resolving important state issues, 33 powers previously held by hokims have been transferred to local Councils.

The meeting underscored the significance of these elections as a vivid example of democratic state-building in our country and an essential means for citizens to exercise their constitutional rights to vote and be elected to democratic state bodies. The elections will involve the election of 150 deputies to the Legislative Chamber, 65 members to the Senate, 65 deputies to the Jokargy Kenes of the Republic of Karakalpakstan, deputies to 208 district (city) Councils in the regions and Tashkent city, with around 30,000 candidates and nearly 90,000 trusted representatives actively participating. Over 120,000 election commission members and more than 70,000 citizens and international observers are expected to participate in the election process.

Considering the important role of elections in state life and with the aim of widely engaging citizens in this process, the Central Election Commission announced that the elections will be held on October 27th under the slogan “My Choice—My Prosperous Homeland.”

The 'E-Saylov' information system is a key tool in making the election process more transparent and accessible. It facilitates around 60 interactions between election commissions, political party candidates, observers, and the media entirely electronically. Integrated with other electronic platforms, the system automates many procedures in the election process without human intervention. This system forms an extensive database of nearly 400,000 participants in the election process, including election commission members, candidates, and observers. Around 32,000 participants will professionally use the information system, which includes communication through 40 types of SMS notifications.

For citizens, the "E-Saylov" information system introduces several conveniences in obtaining election-related information. Specifically, it provides statistical data on voters and polling stations, information on candidates for various elections, and interactive maps to learn about candidates and their biographies.

The meeting emphasized that the "E-Saylov" information system represents a new level of technological advancement and transparency in elections.

It was also noted that according to Article 37 of the Election Code, political parties have the right to nominate candidates for deputies to the Legislative Chamber and local Councils.

To participate in the elections, political parties must have been registered by the Ministry of Justice at least four months before the announcement of the election campaign and collect at least 40,000 signatures supporting their participation.

Additionally, the meeting approved a calendar plan to ensure that the activities related to conducting the elections are carried out step-by-step within the timelines specified by election legislation. The Central Election Commission, as an impartial and independent constitutional body, will take all necessary measures to prepare for and conduct the upcoming elections in full compliance with national legislation and international election standards, ensuring the process is open and transparent.

A Press Center has also been established under the Central Election Commission.

Central Election Commission

of the Republic of Uzbekistan

Uzbekistan and Azerbaijan strengthen economic partnership
Uzbekistan and Azerbaijan strengthen economic partnership

Economic relations between Uzbekistan and Azerbaijan have been steadily developing in recent years, forming a model of mutually beneficial and sustainable partnership. The introduction of a free trade regime between the two countries has strengthened the institutional foundation of this cooperation and contributes to the expansion of trade and investment ties.

Institutional Cooperation: Systematic and Continuous Dialogue

Intergovernmental institutions play an important role in the development of economic relations. In particular, within the framework of the Intergovernmental Commission, which has been operating since 1998, 14 meetings have been held, with the most recent one taking place in June 2025 in Baku. Within this platform, issues of trade, investment, and industrial cooperation are discussed on a systematic basis.

In addition, three “Uzbekistan–Azerbaijan Regional Forums” have been organized to promote interregional cooperation, and the fourth forum is planned for 2026, which indicates the continued expansion of bilateral relations.

The Uzbekistan–Azerbaijan Business Council, established in 2020, also serves as an important mechanism for enhancing economic cooperation by strengthening interaction between business communities.

Trade Turnover: Strong Growth Dynamics

The dynamics of trade turnover between the two countries demonstrate a positive trend. According to the results of 2025, total trade turnover amounted to USD 307.3 million, increasing by 14.6% compared to the previous year.

Exports reached USD 227.3 million, growing by 7.8%, while imports amounted to USD 80 million, showing a significant increase of 39.3%. This indicates a balanced and diversified development of trade relations.

In the first quarter of 2026, growth rates accelerated further: trade turnover reached USD 80.1 million, increasing by 42.5%. These figures confirm the strong momentum in the development of economic ties between the two countries.

Export Structure: Diversification and New Opportunities

In 2025, exports from Uzbekistan to Azerbaijan increased across 230 product categories. Particularly strong growth was observed in tobacco products, copper wire, grapes, nuts, household appliances, and petroleum products.

At the same time, exports were carried out in 116 new product categories totaling USD 7.8 million, which reflects the ongoing expansion of trade relations between the two countries. This plays an important role in diversifying the export structure and broadening the range of goods.

Imports: Mutually Beneficial Cooperation

Significant growth has also been observed in imports. In 2025, import volume increased by 39.3%, reaching USD 80 million. The main growth was driven by sugar, aluminum, metal pipes, and petroleum products.

This indicates the growing importance of Azerbaijan in supplying Uzbekistan’s economy with essential raw materials and industrial resources.

Transport and Logistics: Strategic Connectivity

Another key area of cooperation is transport and logistics. In 2025, total cargo transportation volume reached 154.3 thousand tons, increasing by 28.3%.

In the first quarter of 2026, this figure rose by 88% to 58.7 thousand tons. The increase in transportation volumes by rail, road, and air reflects the strengthening of logistics chains between the two countries.

The growth in transit cargo transportation (1.4 times in 2025) further enhances the strategic role of Uzbekistan and Azerbaijan in regional transport corridors.

In addition, the operation of 14 regular weekly flights on the Tashkent–Baku route demonstrates a high level of transport connectivity between the two countries.

The above analysis demonstrates that economic relations between Uzbekistan and Azerbaijan are steadily developing at a high pace. The presence of institutional cooperation mechanisms, sustained growth in trade turnover, diversification of export and import structures, and the expansion of transport links significantly enhance the strategic importance of this partnership.

Three enterprises launched, twelve enterprises starting construction
Three enterprises launched, twelve enterprises starting construction

The second day of the visit of the Head of our state to Navoi region began with a joyful event. A ceremony dedicated to new projects was held with the participation of representatives of the public.

In recent years, entrepreneurship in Navoi region has been actively developing, and the interest of investors in the region continues to grow. In 2023 alone, the region produced more than 101 trillion soums worth of industrial products and exported $648 million. Foreign investments worth about $478 million were also absorbed, and the foreign trade turnover of the region amounted to about $1.3 billion. More than 300 foreign enterprises operate in the region, and their number will continue to increase.

Fifteen new projects were announced at the ceremony.

In particular, the projects on extraction and processing of oil shale in Kanimekh district, construction of a 300 megawatt solar photovoltaic station and a 75 megawatt electricity storage system in Karmana district, production of technical gases in Navoi city, processing of marble in Gazgan and granite in Zarafshan, extraction and enrichment of kaolin in Uchkuduk district, and production of fish feed in Khatyrchi district were launched. 

Enterprises were launched to produce potassium sulfate and sulfuric acid in Karmana district, cotton pulp in Navoi city, and granite processing in Nurata district.

The total cost of the 15 projects is $3.6 billion. More than 7 thousand jobs will be created.

President Shavkat Mirziyoyev pressed a symbolic button and gave start to the construction and operation of the new projects.

New approaches in poverty reduction presented
New approaches in poverty reduction presented

President Shavkat Mirziyoyev reviewed a presentation on measures for ensuring population’s employment and poverty reduction based on new approaches.

This year it’s planned to ensure employment of 5.2 million citizens and bring out of poverty 1.5 million people. For the first time 60 districts and cities will become territories free of poverty and unemployment. 

Jointly with mahalla bankers it’s planned to ensure constant employment for 1.5 million people and attract more than 2 million citizens to businesses. For this purpose it’s planned to allocate a total of 120 trillion soum of credit resources for small business projects. 

Based on best foreign practices, new approaches to poverty reduction will be introduced in 32 areas. In particular, solar power plants with a total capacity of 107 megawatts will be built in 300 complex mahallas, and members of low-income families will be hired to operate them on a cooperative basis.

In 123 districts, low-income citizens will be offered work on the creation of forest and nursery lands on 20 thousand hectares, as well as the cultivation of medicinal plants. They will be paid a subsidy of 375 thousand soums for every 100 trees planted.

In places with tourism potential it is planned to open guest houses and catering outlets, and at a number of post offices - e-commerce centers, where representatives of low-income families will also get jobs.

A total of 6.472 mahallas in 2025 will implement projects based on new approaches, which will help lift 210 thousand people out of poverty.

Special attention will be paid to remote villages with particularly difficult conditions. In them, the Association of Mahallas of Uzbekistan will take measures to foster a spirit of entrepreneurship, reduce dependency and support labor activity of low-income families.

The Head of State reiterated that 2025 will be decisive in reducing unemployment and poverty, and gave instructions to ensure a systematic and targeted approach to the implementation of the presented measures.

The Ministry of Employment and Poverty Reduction is tasked with strictly monitoring the implementation of these tasks. Each initiative and each activity will be entered into an electronic platform with subsequent verification of the created jobs on the tax base.

The importance of organizing training for the staff of local khokimiyats and “ mahalla seven”, as well as promotion of best practices was also noted.