The text of the article is in Uzbek language!

The text of the article is in Uzbek!

Uzbekistan is a country of youth. According to statistical data, about 60% of Uzbekistan's population is under the age of 30. Thus, over 18 million residents of Uzbekistan are young people, and by 2040 this number could reach 25 million. This creates unique opportunities and specific challenges for the state in terms of providing education, employment, and social integration for the youth. On February 21 of this year, a Presidential Decree approved the State Program for the implementation of the "Uzbekistan - 2030" Strategy in the Year of Support for Youth and Business. It outlines a number of tasks aimed at addressing the problems faced by young people and realizing their potential.

In recent years, Uzbekistan has prioritized creating favorable conditions to ensure the rights and interests of the younger generation. This includes providing them with access to quality education, meaningful employment opportunities, and avenues to realize their talents and abilities. Significant efforts have been made in this direction as part of state policy.

A vivid confirmation of this is the adoption and consistent implementation of over 100 legislative acts concerning this sphere within a short period. The inclusion of specific articles on the rights and interests of the younger generation in the updated Constitution of Uzbekistan undoubtedly opens new opportunities for further strengthening the legal framework and elevating practical work in this area to a new level.

During the past period, a completely new vertical management system for working with youth has been established.

In all neighborhoods (mahallas) of the country, youth leaders are active. Thanks to this system, over 100 different opportunities have been created for youth within the neighborhoods.

A system called the "Youth Notebook" has been established, through which over 1.1 million young people have received assistance across
25 different areas totaling 1.3 trillion UZS. Specifically, tens of thousands of students from low-income families have had their tuition fees covered under fee-based contracts.

The number of higher educational institutions in the country has almost tripled, reaching 199, and enrollment has increased from 9 to
38 percent. This expansion opens up extensive opportunities for youth to acquire modern knowledge and professions.

In the country, 210 youth industrial and entrepreneurial zones have been established, with 2,500 projects implemented amounting to 4 trillion UZS. As a result, the number of young entrepreneurs has doubled, surpassing 200,000.

In recent years, more than 750 young people who make a significant contribution to the prosperity of the Motherland have received state awards.

It is heartening that the youth of the country are effectively utilizing the opportunities provided and inspiring with their achievements in various fields.

For further effective implementation of State youth policy in Uzbekistan, it is necessary to continue effective reforms to create a solid organizational, legal and institutional framework.

First of all, work will continue to develop new constitutional norms on the rights of young people in existing legislation.

At the same time, in the coming period, special attention will be paid to the qualitative execution of tasks defined in the State Program on the implementation of the Strategy "Uzbekistan - 2030" in the Year of Support for Youth and Business.

Thus, every region, ministry and department has begun to introduce a new approach to work with young people. The improvement of scientific and analytical work on the study of youth problems and the training of promising personnel is considered relevant.

Today, rapid measures are being taken to increase the number of young people learning foreign languages under the "Ibrat Farzandlari" project
to 1 million, and the number of young readers under the "Mutolaa" program up to 1.5 million. Additional infrastructure is being built in the regions for this purpose. At the same time, special attention should be paid to the creation of broader conditions for the meaningful organization of leisure activities and the realization of young people's talents and abilities.

Thus, the systemic reforms carried out in Uzbekistan have led to significant achievements in the field of education and the spiritual, intellectual, physical and moral development of young people. The increase in the number of educational institutions, the improvement in the quality of education, the active participation of young people in scientific and cultural events, and the implementation of social projects - all this is evidence of positive changes and the strengthening of the foundations for the harmonious development of the younger generation.

Bekzod Jurabayev,
Chief scientific researcher of the Institute of Legislation and Legal Policy under the President of the Republic of Uzbekistan, Chairman of the Council of Young Scientists of the Institute

President Shavkat Mirziyoyev familiarized himself with the proposals on improving the quality of pre-school and school education and the system of professional development of teachers.

Students' interest in subjects and their academic performance largely depend on the knowledge and skill of teachers. Therefore, necessary conditions are being created for teachers' professional development and the system of knowledge assessment is being improved.

The responsible persons reported on the developed proposals in this sphere.

It was noted that a new certification system based on advanced technologies has been introduced. More than 190 thousand teachers took part in it, 51 thousand teachers were promoted to the new category based on the results.

It was emphasized that it is necessary to constantly stimulate the increase in the number of professional and self-educated teachers in schools.

It was proposed to increase the salaries of teachers with the highest and first qualification category from September 2025.

It was instructed to develop and implement a separate professional development program for teachers who have not been certified and do not have sufficient experience.

In this process, it is necessary to make full use of the possibilities of professional development centers and teacher training colleges. To this end, based on the experience of the Presidential Schools, a system of professional development for the heads and teachers of kindergartens and schools will be organized at the Abdullah Avloni National Research Institute with a frequency of every 5 years.

A task has been set to transfer 11 pedagogical colleges in the regions under the authority of the Centers of Professional Development and attract trainers from abroad.

It was informed that kindergartens and schools, technical schools and "Barkamol Avlod" school will be established on the basis of teacher training colleges with low workload.

In order to disseminate best practices, the evaluation system of Presidential Schools was introduced in 500 schools last year. As a result, student achievement in these schools increased from 53 percent to 59 percent. A bonus of up to 40 percent has been set for school leaders and teachers of high-performing schools.

In this regard, starting from the new school year, this evaluation system will be applied in another 1,000 schools. They will be assigned to 182 specialized schools and 500 schools that have tested the system.

Also 270 schools will be equipped with interactive whiteboards, 365 schools will be provided with computer classes.

The presentation also considered a proposal to establish the National Institute of Pedagogy of Education on the basis of the Research Institute of Pedagogical Sciences of Uzbekistan named after Kary-Niyazi. The new institute will be entrusted with the tasks of strengthening makhalla-parents-school cooperation, creating educational literature for parents and children, and scientific research of didactic views of the Jadids. Activity of the Academic Council on 5 specialties will be organized, as well as training of personnel in master's and doctoral studies.

In addition, the issues of introducing international methods in the schools of sportsmanship of Bakhodir Jalolov and Oksana Chusovitina, improving the quality of education and training were touched upon.

The head of state gave instructions on improving the quality of teachers' training, organizing a fair system of evaluation and incentives.

Despite its limited access to the world's major ports, Uzbekistan can fully develop its transportation and logistics industry through the formation of land transport corridors, developing them throughout the Eurasian region. Being located in the center of the crossroads of trade routes during the Great Silk Road, Uzbekistan has a unique opportunity to become an important provider of logistics of cargo flows between China and Southern Europe, on the one hand, and the Indian Peninsula and CIS, Northern Europe, on the other hand.
Landlocked countries account for less than 1% of world exports. Moreover, the share of Central Asian countries in the global export of transport services is very small and is represented in the following proportions: Uzbekistan, which has access to the sea only through two countries – 0.1%, Kazakhstan – 0.3%, Tajikistan – 0.007%, Kyrgyzstan – 0.03%.
However, the transport complex of Uzbekistan maintains a dominant position in foreign trade in services and is one of the main sources of foreign currency inflow into the country. Transport services in the republic form 43% of the total volume of the country's service exports and 65% of the balance of foreign trade in services. Uzbekistan's transport service exports in 2022 amounted to $2.2 billion, and the positive balance of foreign trade in transport services amounted to $1.7 billion.


Figure 1. Uzbekistan’s share in global exports of transport services in 2022, %


Calculated according to UNCTAD and Statistics Agency of the Republic of Uzbekistan
One of the main problems of Uzbekistan's international freight transport is the underutilization of its export and transit potential, which reduces revenues from the export of transport and logistics services. For example, when comparing actual exports in tons, Uzbekistan is behind Russia by 20 times, Turkey by 10 times, and Kazakhstan by 9 times.
In 2023, the volume of interstate cargo transportation in the Republic of Uzbekistan amounted to 62 million tons, which is 16% higher than in 2022. The largest share in the volume of export-import cargo transportation of the republic falls on Kazakhstan (30%), to a lesser extent on Russia (26%), China (10%), and Afghanistan (4%). Rail transport accounts for the largest share (76%) of Uzbekistan's international cargo transportation (export, import, and transit). The export of transport services includes the transit of goods through the territory of Uzbekistan with a total share in the export of railway services of up to 45%.
The unrealized transit crossroads of Eurasia
One of the main global logistics trends is trade between China and the EU. According to the ERAI review, in 2023, the trade turnover between them amounted to 738 million euros, and according to EUROSTAT exceeded 104 million tons. In the current realities, rail transportation between Europe and China is carried out along the Eurasian route through the territories of Kazakhstan, Russia, Belarus; Mongolia and Russia (Naushki border crossing), as well as along the Trans-Caspian International Transport Route – TITR (Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, the Black Sea).
Part of the cargo flows that previously passed through the northern corridor has been redirected to TITR. However, the Eurasian route continues to occupy a leading position. In 2023, a total of 674 thousand TEU passed along this route, which is 1.1% less than in 2022 (681 thousand TEU), but at the same time, in the first half of 2024, the volume of container traffic by China-Europe trains along TITR increased by 12.8% with a volume of 196.6 thousand TEU.
As can be seen, Uzbekistan does not fit into the list of major transit countries between China and the EU in the "Eurasian" and "Trans-Caspian" directions and claims only a part of the target markets mainly in direction along the Southern Corridor through Turkmenistan, Iran, and Turkey.
So, a limited number of international transport corridors pass through the territory of Uzbekistan. The main countries forming the transit of Uzbekistan are neighboring Afghanistan, Kazakhstan, Tajikistan, and Kyrgyzstan, as well as Russia, which is considered an important trading partner for the Central Asian countries. The transport isolation of the region, undiversified transport routes, and limited export deliveries mainly in the northern direction lead to a loss of profit due to the sale of domestic goods mainly to neighboring countries at a fairly low cost.
Transit Priorities
To sell domestic products at competitive world prices, Uzbekistan needs to develop additional export trade routes to other countries, such as China, the Asia-Pacific region, the Middle East, India, Pakistan, and others. This requires competitive and efficient transport and transit corridors that allow for increasing the volume of transit cargo through the Republic of Uzbekistan.
Therefore, the priority directions identified by 2030 for the development of international transport corridors and bringing the volume of transit traffic through the territory of the republic to 16 million tons include the task of increasing revenues from the export of transport services. The key task in this case is to increase the volume of multimodal cargo transportation in the directions of China – Kyrgyzstan – Uzbekistan (Kashgar–Irkeshtam–Osh–Andijan–Tashkent) and Uzbekistan – Afghanistan – Pakistan (Termez – Hairatan – Logar – Karachi).
China - Kyrgyzstan - Uzbekistan. The volume of cargo transportation of the PRC with such countries as Turkey, Iran, Turkmenistan, Afghanistan, and Pakistan in 2023 amounted to almost 50 million tons, with the main volume of cargo transportation carried out by sea transport. Studies have shown that it is possible to attract part of the cargo to the "China–Kyrgyzstan–Uzbekistan" route, in the amount of about 10 million tons, and with the stable organization of cargo transportation along the route, the volume of cargo transportation by 2040 may increase by 4 times.
Uzbekistan – Afghanistan – Pakistan. The geographical proximity to Afghanistan, and further south to Pakistan and India, gives Uzbekistan the opportunity to unlock its existing potential and provide cargo transportation services in export, import, and transit traffic in the direction of South Asian countries (Afghanistan, Pakistan, and India), without competing for existing transport and trade corridors. Therefore, Uzbekistan is extremely interested in trade and transport cooperation with Afghanistan and in the implementation of the Trans-Afghan Railway project "Uzbekistan–Afghanistan–Pakistan." This road will allow establishing a direct rail link between Uzbekistan and Pakistan through the territory of Afghanistan with further access to the ports of the Indian Ocean.
The importance and effectiveness of the "Uzbekistan–Afghanistan–Pakistan" (UAP) project can be significantly increased if it is implemented in parallel with the project of building the "Uzbekistan – Kyrgyzstan – China" (CKU) railway line, which is the shortest way to connect China with Pakistan and India and will allow a multiple increase in the volume of traffic from/to China to the countries of Central and South Asia.
In this regard, within the framework of two strategic projects UAP and CKU, the ongoing activities on formation of new uninterrupted perspective multimodal transport corridors in the region are relevant. In November 2023 in Tashkent within the framework of the ECO Ministerial Meeting the Protocol of the multilateral meeting on establishment of the international multimodal route between Asia-Europe through “Uzbekistan-Turkmenistan-Iran-Türkiye”, was signed.

In November 2023, a Memorandum on mutual Understanding on the creation and development of international transport corridor “Belarus-Russia-Kazakhstan-Uzbekistan-Afghanistan-Pakistan” with access to the ports of the Indian Ocean was signed in Tashkent. In April of this year, Termez hosted meetings of transportation agencies and railway administrations of the countries-participants of this corridor, which resulted in the adoption of the Road Map, including the main activities for further development of the corridor.
It should be noted that the abovementioned documents are open for other interested countries to join the transport corridors.
Multifaceted Transport Policy
It should be noted that the policy of forming international transport corridors in Uzbekistan is somewhat different from the policies of several other countries and is aimed at attracting as many countries as possible to the active development of a branched network of transport corridors that ensure efficient foreign trade cargo transportation. As emphasized by the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, at the SCO Summit in Astana on July 4 of this year, "the multivariance of transport corridors is the most important condition for the sustainable development of our entire region."
However, the effective functioning of various corridor options is hindered by the lack of unified Cargo Transportation Rules, a unified Transport Document Standard that would be used on all types of transport, as well as the absence of digital platforms for providing customers with freight transportation services remotely from anywhere in the world. All this slows down the transport integration of Asian countries in the context of developing routes between Central and South Asia, and China, on the one hand, and the integration of Asian countries with European communications on the other.
To solve the problems of different legal and technical standards in freight transportation between European and Asian countries, which hinder the full-fledged transportation of goods without delays, it makes sense to develop new services for logistics and cargo transportation market participants, while applying modern technologies.
These include the production of universal wagons with variable gauge axle systems at the country's industrial facilities, with their further use both in Uzbekistan and southern countries, China and others, as well as the development of a digital platform for online registration of cargo transportation and transportation documents, which will lead to additional revenues from the export of transport services.
In this regard, the initiative of the President of Uzbekistan Shavkat Mirziyoyev, announced in June at the OTS Summit on the formation of a Council of Railway Administrations within the framework of the organization and the placement of its directorate in Tashkent, is relevant. The Council could act as a regulator for the integration of the railways of China, the Asia-Pacific region, South and Southeast Asia with the countries of Central Asia, the Caucasus, and the EU.
To assess the prospects for the coordinated development of transport corridors, a forecast of foreign trade volume was made based on an analysis of panel data using a combined model of two directions of international cargo transportation: China-EU and China-CA. The results of this forecast showed that by 2050, the volume of trade between China and the EU will increase by 4.5 times compared to 2023, and between China and CA - by 5 times. At the same time, the total volume of trade between South Asian countries (India and Pakistan) with trading partners (EU, Russia, China, Belarus, Kazakhstan, Uzbekistan, and Turkmenistan) will increase by 3.8 times compared to 2023.

In the near future, a clearly defined strategy for integrating Central Asian countries into the international transport network can help solve the region's problems and lead to an increase in the export of transport and logistics services and attract cargo flow, and later passenger flow, to the territory of the Asia-Pacific region, South and Central Asia. As the President of Uzbekistan Shavkat Mirziyoyev said: "We are open to cooperation and ready to become a reliable partner in creating new transport corridors and integration projects."

Dildora Ibragimova,
Center for the Study of Transport and Logistics Development Problems under the Ministry of Transport of the Republic of Uzbekistan

Following the results of Q1 2026, the ranking of large banks underwent notable changes. While the leading group remained intact, positions within the segment were reshuffled. In the small-bank category, movements were also significant, pointing to continued realignment and stronger competition across the sector.

The Center for Economic Research and Reforms presented the updated Bank Ranking based on the results of the Banking Activity Index for Q1 2026.

The study covers 34 commercial banks of the republic, including 20 classified as large financial institutions by scale and branch network, while the remaining 14 were categorized as small banks.

The methodology is based on the analysis of 27 indicators benchmarked against national averages and international standards, including the requirements of the Basel Committee. The ranking serves as an important tool for enhancing transparency and strengthening confidence in the financial system. This approach is consistent with international practice and is widely used by leading financial institutions.

Financial Results for Q1 2026

During the reporting period, total assets of the banking sector amounted to 932.3 tn sums ($76.3 bn), while liabilities reached 793.9 tn sums ($64.9 bn). Lending increased by 14%, while deposits grew by 32%. The aggregate capital of the banking system was fully denominated in the national currency. Net profit reached 3.1 tn sums ($254 mn), which is 36.3% higher than a year earlier.

During the period under review, the share of non-performing loans declined to 3.3%, compared with 4.5% a year earlier, indicating improved portfolio quality. At the same time, in several banks the ratio remains above the sector average. Capital adequacy indicators exceed minimum regulatory requirements by more than 1.4 times, confirming the resilience of the banking sector.

Large Banks Activity Ranking for Q1 2026

The results of Q1 2026 show that despite the relative stability at the top of the ranking, both categories of banks recorded notable positional changes.

In the large-bank segment, performance was mixed. Out of 20 banks, 7 improved their positions, 8 declined, and 5 retained their previous places. This reflects a high level of competition and the ongoing redistribution of market positions.

The most notable progress was demonstrated by Tenge Bank, which moved up by 6 positions. Three more banks — Agrobank, Invest Finance Bank, and Xalq Bank — advanced by 2 positions each. Positive momentum was also recorded by Ipak Yuli Bank, Asia Alliance Bank, and Hamkorbank, all of which improved their standing in the overall ranking.

At the same time, several large banks recorded lower activity levels. The most significant decline was observed at Orient Finans Bank and Trast Bank, which fell by 5 and 3 positions respectively.

Changes Across Key Indicators

Financial Intermediation. The leading positions were taken by Invest Finance Bank, Anor Bank and Kapitalbank. In this ranking, Davr Bank and Hamkorbank fell by 4 positions, while Ipoteka Bank declined by 1 position.

Financial Accessibility. The leaders were Agrobank, Anor Bank and BRB. Under this indicator, declines were mainly observed among leading banks: Kapitalbank (-3 positions), Hamkorbank (-7), Asia Alliance Bank (-1), Ipak Yuli Bank (-5), and Trast Bank (-6). The strongest improvement in this ranking was recorded by Tenge Bank (+8), Xalq Bank, Davr Bank (+5), and Agrobank (+4).

Capital Adequacy. The top positions were occupied by Orient Finance Bank, Trast Bank and Halk Bank. At the same time, Agrobank dropped by 4 positions, while Aloqa Bank declined by 2 positions.

Asset Quality. The leaders were Hamkorbank, Asia Alliance Bank and Ipak Yuli Bank. Turonbank fell by 5 positions, while Asakabank, Mikrokreditbank, SQB, Trast Bank and Anor Bank each declined by 2 positions.

Management Efficiency. The highest positions were held by SQB, Orient Finance Bank and NBU. At the same time, Asaka Bank dropped by 5 positions, while BRB declined by 4 positions.

Profitability. The leaders were Hamkorbank, Trast Bank and Asia Alliance Bank. Turon Bank, after falling by 3 positions, ranked last. In this ranking, Kapitalbank, Asia Alliance Bank, Anor Bank and Davr Bank declined by 2 positions, while Ipoteka Bank and Mikrokreditbank fell by 1 position.

Liquidity. The leaders were Asia Alliance Bank, Ipak Yuli Bank and Trast Bank. At the same time, Mikrokreditbank, Ipoteka Bank, Anor Bank and SQB each declined by 1 position.

Small Banks Activity Ranking for Q1 2026

The small-bank group remained relatively stable, with leading institutions retaining their positions. The main changes in this category were concentrated in the middle segment, where several banks improved their standing due to stronger financial intermediation and higher profitability.

Within this group, 8 out of 14 financial institutions improved their rankings. The most notable gains were recorded by AVO Bank and Apex Bank, both rising by 3 positions. TBC became the leader of the ranking.

At the same time, 5 banks moved down, with the sharpest decline recorded by Octobank, which lost 6 positions. Saderat Bank, Garant Bank, and Ziraat Bank each rose by 2 positions. The ranking was rounded out by Open Bank and Uzum Bank, both up by 1 position.

Jafar Khidirov, CERR

CERR Banking and Financial Sector Research Sector
Tel: (78) 150 02 02 (441)

CERR Public Relations and Media Sector
Tel: (78) 150 02 02 (417)

In connection with the advent of Eid al-Adha, the holy holiday of Eid al-Adha, which embodies such noble values as mercy, generosity, humanism and harmony, and promotes an atmosphere of mutual respect and tolerance in society, President of the Republic of Uzbekistan Shavkat Mirziyoyev has received heartfelt congratulations from the heads of foreign States and governments, respected public and religious figures and heads of leading international and regional organizations.

In their messages, they express to the head of our state and the multinational people of Uzbekistan words of sincere respect, wishes for peace, well-being and prosperity, as well as reaffirm their commitment to the full strengthening of relations of friendship and multifaceted cooperation.



Congratulations, in particular, were sent to:

The Minister, Two Holy Shrines, King Salman bin Abdulaziz Al Saud of Saudi Arabia;

Crown Prince Muhammad bin Salman bin Abdulaziz Al Saud, Chairman of the Council of Ministers of Saudi Arabia;

President Recep Tayyip Erdogan of the Republic of Turkey;

Abdelfattah Al-Sisi, President of the Arab Republic of Egypt;

President of the Republic of Kazakhstan Kassym-Jomart Tokayev;

President of the Kyrgyz Republic Sadyr Zhaparov;

President of the Republic of Tajikistan Emomali Rahmon;

President of Turkmenistan Serdar Berdimuhamedov;

National leader of the Turkmen people, Chairman of the Khalk Maslakhaty of Turkmenistan Gurbanguly Berdimuhamedov;

Ilham Aliyev, President of the Republic of Azerbaijan;

Sheikh Muhammad bin Zayed Al Nahyan, President of the United Arab Emirates;

Vice President, Prime Minister of the United Arab Emirates, Ruler of the Emirate of Dubai, Sheikh Mohammad bin Rashid Al Maktoum;

Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Minister of Presidential Affairs of the United Arab Emirates;

Shaikh Seif bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Interior of the United Arab Emirates;

Turki bin Muhammad bin Fahd bin Abdulaziz Al Saud, Minister of State and member of the Council of Ministers of Saudi Arabia;

Emir of the State of Kuwait Mishaal Al-Ahmad Al-Jaber Al-Sabah;

Crown Prince of the State of Kuwait Sabah Khaled Al-Hamad Al-Muborak Al-Sabah;

King Abdullah II of the Hashemite Kingdom of Jordan;

King Muhammad VI of Morocco;

Abdelmajid Tebboun, President of the People's Democratic Republic of Algeria;

Mahmoud Abbas, President of the State of Palestine;

Secretary General of the Organization of Turkic States Kubanychbek Omuraliev;

Secretary General of the Economic Cooperation Organization, Khusraw Noziri;

Secretary General of the Organization of Islamic Cooperation Hussein Ibrohim Taha;

Sheikh-ul-Islam Allahshukur Pashazade, Chairman of the Caucasus Muslims Board.

Congratulations continue to pour in.

The President got acquainted with the construction of transportation infrastructure and engineering communications in New Tashkent.

As is known, the city under construction is designed for 1 million residents, which requires appropriate infrastructure with a view of long-term operation. In this regard, major underground engineering works are underway, laying the foundation for future grandiose constructions.

It is planned that infrastructure, daily life and ecology will harmoniously coexist in the new city. For instance, it is planned to create an environmentally friendly transportation system - metro and electric buses will be closely interconnected. For transportation 14 tunnels will be built, underground parking lots for 100 thousand cars will be equipped. In addition, all conditions will be created for barrier-free and safe movement of pedestrians and cyclists.

At one of the future intersections, foundation pouring for columns and waterproofing works are already underway. The President reviewed these processes. Recommendations were given on the use of high-quality and resistant materials.

Currently, the construction of one-section and two-section engineering collectors has begun, through which all centralized heating, water, electricity and telecommunications networks will pass underground.

The city will apply “smart” technologies in line with modern urbanization requirements. For the first time in the country, a “trigeneration” plant will be built here. Wastewater will be processed using modern technologies, and the resulting water will be used for irrigation and technical needs.

The President was also presented with the projects envisioned within the framework of the first stage of construction of New Tashkent. The winners of the auctions at which land plots were offered presented their investment initiatives.

Many local and foreign investors are interested in New Tashkent. Within the framework of the first phase, 11 mixed-use complexes, as well as hotels and restaurants have already been launched at a total cost of $490 million. Residential and commercial facilities as well as social institutions will make the neighborhood lively and attractive. Meanwhile, hotels and restaurants built in a unique architectural style will provide high-class service to guests and turn the city into a tourist center.

Next year, land plots for subsequent phases will be put up for bidding. Each phase will present new investment opportunities and projects. This will not only contribute to the further development of the city, but also create many new jobs and support local businesses.

In general, it is planned to create about 200 thousand high-income jobs in New Tashkent through the introduction of innovative technologies. Technoparks, IT-park, educational and medical clusters will be created for this purpose.

The Business Activity Index (BAI), estimated by the Center for Economic Research and Reforms, reached 1124 points in February 2026, increasing by 12.4% compared with the previous month (and by 24.2% compared with the same period last year, Chart No.1).

In February of the current year, the following changes were observed across the BAI components:

• the component reflecting the number of transactions on business entities’ bank accounts increased by 22%;
• the intensity of raw material purchases on the commodity exchange rose by 10.6%;
• the component reflecting active business entities increased by 0.9%;
• the trademark component grew by 9.4%.

In February 2026, the BAI also increased in 13 regions compared with the previous month (Chart No.2).

In particular, notable growth was observed in Andijan region (44.8%), Syrdarya region (41.7%), Tashkent region (33.3%), and Kashkadarya region (28.2%).

At the same time, in the Republic of Karakalpakstan the indicator slightly declined by 0.5%, remaining at a moderate level.

Banking operations

During the reporting period, the number of interbank payment transactions reached 6,760.3 thousand, increasing by 1,220.5 thousand transactions (22%) compared with January 2026.

An increase in interbank payment operations was recorded in 12 regions. In particular, a significant rise in banking operations between legal entities compared with the previous month was observed in Tashkent city (24.1%), Surkhandarya region (23.3%), Samarkand region (21.4%), and Navoi region (17.7%).

At the same time, this indicator declined in Syrdarya region (8.1%) and the Republic of Karakalpakstan (1.6%).

Exchange component

In February of the current year, the exchange component of the BAI reached 1.1058 points, increasing by 10.6% compared with the previous month.

This reflected a 36.2% increase in the number of transactions concluded, while the average volume of goods purchased per transaction declined by 15.1%.

The total turnover of goods traded on the UzEx amounted to 6,296 billion soums in February 2026, which is 6.5% higher than in the previous month.

Component of active business entities

During the reporting period, this component amounted to 1.0088 points, increasing by 0.9% compared with the previous month.

At the same time, the total number of operating business entities increased by 4,079 units, reaching 508.5 thousand.

The number of large enterprises increased by 51 units, reaching 4,161.
The number of small enterprises rose by 3.9 thousand, reaching 415.1 thousand.
The number of farms increased by 36, reaching 89.2 thousand.

Trademark component

In February 2026, the trademark component reached 1.0641 points, increasing by 9.4% compared with the previous month.

During this period, 430 trademarks and product names were registered by legal entities.

Islombek Saparmatov, CERR

Dear compatriots!

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

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

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

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

Dear friends!

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

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

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

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

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

Dear compatriots!

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

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

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

Dear friends!

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

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

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

I wish you happiness and success on this path.

May the Almighty protect our nation!

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



Shavkat Mirziyoyev,

President of the Republic of Uzbekistan

According to estimates by the Center for Economic Research and Reforms (CERR), there is potential to increase mutual trade between Uzbekistan and Tajikistan by 30–40%. Additional opportunities for expanding economic cooperation are primarily linked to the development of industrial cooperation between the two countries.

Economic cooperation between Uzbekistan and Tajikistan has demonstrated steady positive dynamics; however, the potential of bilateral relations remains only partially realized. This was stated today by Khurshed Asadov, Deputy Director of the Center for Economic Research and Reforms (CERR), during the international scientific and practical conference “Uzbekistan – Tajikistan: New Prospects for Alliance and Regional Cooperation”, held in Tashkent.

According to the expert, relations between the two countries have reached a qualitatively new level in recent years. Cooperation, reinforced by agreements on strategic partnership and allied relations, has created an institutional foundation for the active development of economic ties.

According to CERR estimates, mutual trade between Uzbekistan and Tajikistan increased 3.8 times during 2017–2025, rising from $238 mln to $912 mln. During the same period, Uzbekistan’s exports grew 3.7 times, while imports from Tajikistan increased more than fourfold.

Today, Tajikistan ranks among Uzbekistan’s key regional partners, occupying ninth place among the countries importing Uzbek products.

At the same time, current indicators reflect only part of the possible potential of economic interaction. According to CERR estimates, mutual trade could increase by an additional 30–40% solely through the substitution of Tajikistan’s imports from third countries with products manufactured by Uzbek producers.

The expert emphasized that geographical proximity, a shared border, and well-developed transport connections create favorable conditions for deepening trade relations. In particular, significant prospects remain for expanding Uzbekistan’s industrial exports, including automobiles, household appliances, textile products, and chemical goods.

At the same time, considerable potential also exists in the sphere of industrial cooperation. According to the expert, one of the most promising cooperation models could involve the establishment of joint processing facilities in border regions, particularly focused on the processing of agricultural raw materials and the development of agrologistics centers.

Asadov also noted that further development of transport infrastructure and the expansion of transit opportunities in Central Asia could serve as an additional driver of economic integration.

As emphasized by the Deputy Director of CERR, the current level of allied relations between Uzbekistan and Tajikistan creates the foundation for transitioning to a deeper model of economic cooperation, focused on joint investments, industrial cooperation, and the development of regional infrastructure, which could become an important factor in strengthening economic connectivity and promoting the development of Central Asia.

For reference: The international scientific and practical conference “Uzbekistan – Tajikistan: New Prospects for Alliance and Regional Cooperation” was organized by the International Institute for Central Asia (IICA). The event brought together representatives of government institutions, the diplomatic corps, and expert and academic communities from both countries. Participants discussed the current state and prospects for developing trade-economic, investment, and humanitarian cooperation between Uzbekistan and Tajikistan.

CERR Public Relations Sector

Starting from the 2021/2022 academic year, the dual education system, which has proven effective in the German education system, was introduced in Uzbekistan. This new form of education allows young people to apply theoretical knowledge obtained in educational institutions in practice simultaneously.
Initially, the legal basis for introducing and improving this form of education in Uzbekistan was created. The Law of the Republic of Uzbekistan "On Education" (No. ORQ-637) dated September 23, 2020, Article 15, specifies dual education as a separate form of education. Article 17 of the same law defines dual education as follows:
"Dual education is aimed at providing learners with the necessary knowledge, skills, and competencies, with the theoretical part taking place in educational institutions and the practical part at the learner's workplace."
Additionally, the President of the Republic of Uzbekistan has paid attention to the systematic development of the dual education system based on German experience. In particular, the Decree of the President of the Republic of Uzbekistan "On Measures for the Development of Education, Science, and Innovation in the New Period of Development of Uzbekistan" (No. PF-6108) dated November 6, 2020, stipulated the introduction of practice-oriented educational programs in vocational educational institutions starting from the 2021/2022 academic year.
As a result, new mechanisms for training competitive personnel have been introduced in Uzbekistan by organizing education in harmony with labor activities for specific job positions in the economic sectors and companies (organizations), based on the real needs of the labor market.
In collaboration with experts from the German Society for International Cooperation (GIZ), specific rules and procedures for organizing dual education have been developed. The Cabinet of Ministers' Resolution No. 163 dated March 29, 2021, "On Measures to Organize Dual Education in the Vocational Education System," was adopted.
This resolution approved the regulation on organizing dual education in the vocational education system, consisting of four chapters. Currently, students are admitted to dual education programs based on the requirements of this regulation. In the initial year, more than 2,000 students were admitted to colleges and technical schools for dual education in fields such as preschool education, railways, and construction. The demand for mid-level specialists prepared through this form of education has led to the expansion of dual education.
Employers now have the opportunity to select and hire the best specialists in this education system. In the 2022/2023 academic year, nearly 45,000 young people were admitted to vocational educational institutions for dual education. In addition to the previously mentioned fields, dual education has been introduced in information technology, light industry, agriculture, and services.
Currently, about 13,000 students are receiving dual education in 234 vocational educational institutions across Uzbekistan. These students are supervised by 3,144 qualified mentors from companies and organizations, who develop their practical skills directly at the workplace.
Moreover, dual education is particularly prominent in areas such as automotive technical service, agriculture, preschool education, light industry, and services. Over 3,600 companies and organizations in Uzbekistan participate in dual education.
For instance, the Asaka Agrotechnology Technical School in Andijan region has established cooperation with "UzAvto Motors" JSC, a major automobile manufacturer in Uzbekistan, for training mid-level specialists through dual education. As a result, more than 500 students are being trained in specialties such as "Welding Technology and Equipment," "Automobile Assembly and Testing," "Mechanical Engineering Technology," and "Automobile Technical Service and Repair."
In recent years, significant work has been done to develop the vocational education system in Uzbekistan with foreign partners such as the European Union, German Society for International Cooperation (GIZ), UNESCO, and the Swiss Embassy in Uzbekistan.
For example, two technical schools in the agricultural sector received four tractors, 42 relevant technical equipment, 72 computers, and two refrigerators for storing agricultural products, with a total value of $700,000.
Additionally, 15 pilot educational institutions selected by GIZ were equipped with sewing machine sets (21 sewing machines, 6 overlocks, 6 interlocks, 3 zigzags, 3 embroidery machines), 9 cutting tables, ironing equipment, and 3 multifunctional digital "smartboards." The Almazor Light Industry College was equipped with modern equipment for a practice room in the "Computer-Aided Design" (CAD) direction, including 12 special tablets for designing and modeling, 12 computers, 1 presentation screen, and 1 plotter.
Furthermore, 109 pedagogical staff members were trained in Germany and Switzerland. Additionally, 750 teachers were trained in entrepreneurial skills based on German methodology with the support of German foreign donors.
Under the GIZ "Vocational Education for Economic Growth in Central Asia (PECA V)" grant project, six pilot educational institutions were selected for training mid-level specialists in the fields of bread, bakery, confectionery, and pasta production, as well as logistics.
Within this project, the material and technical base of the Yangiyul Agrotechnology Technical School, Samarkand Tourism and Service Technical School, Tashkent State Agrarian University, and Bukhara Engineering Technology Institute were strengthened.
Equipment for 34 items was delivered to the Yangiyul Agrotechnology and Samarkand Tourism and Service Technical Schools.
In collaboration with Germany, 70 modular education programs for dual education have been developed. Additionally, the "Concept for the Introduction and Further Development of Dual Education in Uzbekistan" and a "Guide for Developing Educational Standards Based on Professional Standards for Dual Education" were prepared.
To ensure that graduates of vocational educational institutions are self-employed in the future, i.e., set up their own businesses, it is crucial to teach them and introduce new methodologies into the educational process. In this regard, the "Basics of Business" subject was developed in collaboration with the German "German Sparkassenstiftung for International Cooperation" organization and introduced into practice.
Moreover, to increase the attractiveness of the vocational education system in Uzbekistan and to provide students with in-depth foreign language training, one of the priority directions is to ensure the competitiveness of mid-level specialists in the domestic and foreign labor markets.
In particular, one-year special German language courses were organized in 33 vocational educational institutions. Currently, 773 students in technical schools in the medical field are being taught in these German language courses.
A one-year program for teaching German was developed and introduced into these courses based on advanced German experience and methodologies. To provide students with educational materials, 6,000 copies of modern textbooks for levels A1, A2, B1, and B2 were purchased from Germany and delivered to educational institutions based on the recommendations of the Goethe Institute.
The system for training professional and qualified mid-level specialists for state-significant sectors and industrial enterprises is being systematically improved by providing the labor market in Uzbekistan with mid-level specialists with modern professional skills.
The Presidential Decree No. PQ-200 dated July 3, 2023, "On Measures for the Effective Organization of State Management in Higher Education, Science, and Innovation within the Framework of Administrative Reforms," stipulated the introduction of a system for year-round admission of students to dual education in vocational educational institutions based on the orders of companies and organizations. This has given a significant impetus to the development of this form of education.
Additionally, due to the increasing demand for mid-level specialists in job positions created based on regional socio-economic development programs, the need arose to organize year-round dual education in vocational educational institutions based on the orders of organizations.
The Cabinet of Ministers' Resolution No. 647 dated December 7, 2023, "On Amendments and Additions to Certain Resolutions of the Government of the Republic of Uzbekistan in Connection with the Introduction of a System for Year-Round Admission of Students to Dual Education in Vocational Educational Institutions," created the opportunity to organize year-round dual education in vocational educational institutions based on the orders of organizations.
Despite the fact that only two months have passed since the adoption of this resolution, more than 750 students have already been admitted to dual education based on the existing needs of over 20 companies.
Furthermore, from now on, free short-term advanced training courses will be organized annually for the voluntary improvement of the pedagogical skills of mentors assigned from organizations to dual education.
Additionally, by the 2024/2025 academic year, an electronic platform will be created to determine the current and prospective needs of the labor market for mid-level specialists. An electronic system for signing contracts between organizations willing to train mid-level specialists and vocational educational institutions will be introduced.
As a result of the reforms implemented to develop the dual education system in Uzbekistan, the coverage of dual education will reach 50,000 students by the end of this year. Furthermore, by the beginning of the new academic year, 100 professions will be selected, and professional standards will be developed based on the experiences of Germany, Switzerland, and Great Britain. The demand for professions will be aligned with the needs of employers.

Utkirjon Alijonov
Head of the Department for the Development
of the Vocational Education System,
Ministry of Higher Education, Science, and Innovation