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

What is INMerge?

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

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

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

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

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

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

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

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

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

From Local Startups to the Global Stage

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

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

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

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

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

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

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

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

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

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

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

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

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

“Uzbekistan - 2030” strategy, adopted on 11 September 2023, identifies sustainable economic growth, the establishment of modern education, healthcare and social protection systems, creation of favorable environmental conditions, building a just and modern state and guaranteed national sovereignty and security as its priority areas. At the core of all reforms is the aim to increase citizens’ welfare, strengthen public trust in the state and ensure confidence in the future. The strategy represents a shift from goal-setting to results-based management, with clear accountability, measurable outcomes and linked financing.

Since its adoption, Uzbekistan has achieved significant progress. Between 2023 and 2025, nominal GDP rose from USD 107.5 billion to USD 140 billion, while exports, foreign investment and innovative activity also grew. Social indicators reflect the reforms’ impact: unemployment fell from 6.8% to 4.9% and poverty decreased from 11% to 6.8%.

What are the reasons for updating the “Uzbekistan - 2030” Strategy?

The need to accelerate the country’s further development has prompted the update of the strategy and its target indicators. The “Uzbekistan - 2030” Strategy has been revised in light of both external and internal factors.

External factors include the global geopolitical environment, international economic trends, technological innovations, environmental and natural changes and the growing demand for energy and water resources. Internal factors encompass demographic growth, urbanization and migration, which require strengthening institutional quality and improving governance efficiency.

In response to these challenges, a draft of the “Uzbekistan - 2030” Strategy for 2026-2030 has been developed and published for nationwide public discussion.

Within the updated Strategy, while retaining the same five priorities and 100 goals, certain tasks and performance indicators have been revised. Many of the previously established targets have already been achieved and new objectives have been added, resulting in an expanded and updated set of performance indicators. Moreover, the document specifies the responsible ministries and agencies as well as the concrete funding sources required to achieve each goal.

In which areas do the reforms provide “mechanisms for change”?

Economy. The largest number of tasks and performance indicators fall under “II. Ensuring the well-being of the population through sustainable economic growth.” The Strategy sets a target GDP of USD 240 billion by 2030 through measures such as maintaining annual inflation at 5–6%, ensuring fiscal stability, enhancing the country’s investment attractiveness, efficiently utilizing domestic raw materials and developing high-tech-based industry and services. The plan also emphasizes deepening Uzbekistan’s integration into global transport and logistics networks and strengthening the export potential of the national economy.

Transitioning to a green economy, transforming the country into a regional “IT HUB” through digital technology development, increasing competition in the banking sector, creating the most favorable conditions for entrepreneurial activity and implementing comprehensive regional development will generate new jobs, ensure employment and increase citizens’ incomes. These measures are expected to reduce poverty, enhance overall well-being and stimulate the growth of key economic sectors, particularly construction, tourism and the service industry.

Education. The Strategy also aims to create favorable conditions for realizing the potential of the youth as well as developing the education and healthcare sectors. Under “I. Creating dignified conditions for the realization of each person’s potential,” performance indicators have been established to achieve goals by 2030, such as ensuring that 50% of graduates from general education schools and academic lyceums receive higher education and secure employment in sectors offering fair wages. Additionally, the inclusion of 10 higher education institutions in the global top-1000 rankings (QS, THE, ARWU) will enhance the competitiveness of Uzbek youth not only in domestic labor markets but also internationally.

The implementation of a cluster system “enterprise – university – research organization” will contribute to the expansion of innovative products in the economy’s “driver” sectors. The Strategy envisions the creation of spin-off type production clusters at higher education institutions to accelerate the process of integrating scientists’ research ideas into economic practice in areas such as transport and logistics, agricultural production, energy, biotechnology, geology and metalworking, mechanical engineering and electronics. Developing science, especially among youth, will improve Uzbekistan’s position in the Global Innovation Index and enable the country to enter the list of the top 60 most innovative nations worldwide.

Health. It is often said that a person’s education reduces health risks and increases life expectancy, while health - physical, mental and social - is the foundation for a full life and self-realization. The Strategy sets goals for the next five years to increase the average life expectancy of the population, reduce premature mortality from cardiovascular diseases (ages 30–69), cancer and respiratory diseases and decrease the incidence of life-threatening congenital defects in newborns. In maternal and child healthcare, nine performance indicators have been established. The Strategy also prioritizes promoting healthy nutrition and lifestyles among the population and reducing adult obesity rates.

Social Protection. For vulnerable segments of the population, the state will continue its policy of fundamentally improving the system of professional social services, establishing a new support system for persons with disabilities and creating a comfortable and favorable environment for them. For children left without parental care, 100% implementation of alternative, non-institutional forms of care will be ensured and for children with special educational needs, coverage by inclusive education will be increased.

The state pays special attention to the expansion of women’s rights and opportunities. Different cultures have diverse perceptions of the roles of men and women, shaped by history, religion and traditions. At the same time, globalization and potential prospects for the country’s development require the implementation of policies ensuring gender equality and increasing the social and political activity of women. The draft Strategy includes tasks such as expanding the number of women trained in professional and entrepreneurial skills, increasing the number of women actively using information and communication technologies, raising the share of women in leadership positions to over 30 percent, and regulating family relations in households experiencing conflict or on the verge of divorce.

Ecology, Law and Security. The priorities of “Conservation of water resources and environmental protection”, “Ensuring the rule of law and organizing public administration oriented toward serving the people” and “Consistent continuation of a policy based on the principle of a safe and peaceful state” are also included in the Strategy, with specific tasks and performance indicators outlined.

Mechanisms for Achieving Goals for Each Priority

The mechanisms for achieving goals under each priority are reflected in strategic documents. For example, to implement the objectives of the priority “Conservation of water resources and environmental protection”, the National Climate Strategy for Climate Change Mitigation and Adaptation and the Strategy for Industrial Waste Management have been developed.

To develop the driver sectors of the economy and achieve GDP growth to 240 billion dollars by 2030, sectoral strategies have been formulated: Strategy for the Development of Industry of Uzbekistan, Strategy for the Development of the Automotive Industry, Strategy for the Development of Light Industry, Strategy for the Development of the Building Materials Industry, Strategy for the Development of the Jewelry Industry, Strategy for the Development of Tourism in Uzbekistan, Strategy for the Modernization, Accelerated and Innovative Development of the Construction Sector and others.

The development and implementation of strategic documents at the regional level will allow achieving goals and objectives in a comprehensive and targeted manner. For instance, Strategies for Comprehensive Development of All Spheres by 2030 in each region of the country consider socio-economic development through the lens of the local economy and the well-being of the population. The development of such documents involves not only local authorities but also leading ministries and agencies, including the Ministry of Economy and Finance, Ministry of Investments, Industry and Trade, Ministry of Agriculture, Ministry of Digital Technologies, Ministry of Employment and Poverty Reduction, Ministry of Energy, National Committee on Ecology and Climate Change and others.

The development of sections of the Strategy involved national think tanks, such as the Institute of Macroeconomic and Regional Research, Center for Economic Research and Reforms, etc. This demonstrates that Uzbekistan implements a scientifically grounded policy (evidence-based policy), where decision-making in various spheres - economy, social policy, ecology, law and security - is based on scientific data, forecasts and expert assessments to achieve medium- and long-term goals.

Key expected outcomes until 2030 (macro outcomes)

The main outcomes of the updated “Uzbekistan – 2030” Strategy are expressed through economic, social, environmental, and other indicators. In the economic sphere, it is expected to achieve macroeconomic stability and sustainable GDP growth up to USD 240 billion, transform the country into a regional “IT HUB” and enter the top 60 most innovative countries in the world, deepen the republic’s integration into global transport and logistics networks and strengthen the export potential of the national economy. Creating a favorable business climate and sustainable jobs as well as ensuring employment for the population, will help reduce income inequality and poverty, with the elimination of absolute poverty based on minimum consumer expenditure and reducing its level to zero percent.

In the social sphere, Strategy provides for creating decent conditions to realize the potential of young people and improving education and healthcare, reflected in target indicators such as increasing life expectancy to 78 years, achieving 80% coverage of children in kindergartens, and 50% coverage in higher education. It also aims to enhance the quality of university education, include 10 higher education institutions in the TOP-1000 rankings of the world’s most prestigious universities (QS, THE, ARWU) and implement a cluster system connecting enterprises, universities and research organizations.

In the environmental sphere, the Strategy envisions continuing the transition to a green economy, introducing green energy technologies, constructing buildings that meet “green” standards, promoting a culture of rational water use, developing water-saving technologies, preventing air pollution and mitigating the negative impacts of climate change.

Doctor of Economic Sciences, Professor D.M. Karimova

Institute of Macroeconomic and Regional Studies

Republic of Uzbekistan

Just a few years ago, the concept of the “smart city” was largely seen as a futuristic idea associated with digital control panels, autonomous transport, widespread sensor networks, and automated urban services.

Today, the smart city has become a practical tool for addressing modern urban challenges. This trend can be seen across countries facing rapid population growth, increasing migration to major metropolitan areas, overstretched infrastructure, and mounting climate risks.

In this context, smart technologies are no longer viewed as an end in themselves. Instead, they are increasingly used to improve the resilience and efficiency of key urban systems, including transport, energy, public utilities, waste management, and environmental monitoring. This allows cities to adapt more effectively to emerging challenges, reduce pressure on infrastructure, and improve the overall quality of urban life.

At the same time, smart city development is gaining strategic economic importance by creating long-term drivers of growth. Such projects attract substantial investment by combining digital infrastructure, innovative services, and principles of sustainable development.

The growth of smart urban areas also contributes to job creation in high-tech sectors ranging from IT and telecommunications to engineering and urban data analytics. In parallel, the modernization of urban infrastructure improves resource management and raises overall living standards.

Against this backdrop, the approaches taken by Uzbekistan and Azerbaijan deserve particular attention. Rather than simply following a global trend, both countries are developing their own models of smart urbanization — ones in which technology serves people and supports the creation of more comfortable, sustainable, and future-oriented cities.

In this regard, Uzbekistan offers a particularly notable example, as urbanization is becoming an increasingly pressing issue amid steady demographic growth. The country’s population is growing by approximately 1.8–2% annually, placing additional pressure on transport systems, housing, infrastructure, and social services.

Under these conditions, the government is focusing not on limited modernization of the existing urban environment, but on the creation of new growth centers. The Smart City concept adopted in 2019, followed by the Digital Uzbekistan – 2030 strategy, established the institutional foundation for the large-scale digital transformation of urban infrastructure and public services.

One of the most visible outcomes of this strategy is the New Tashkent project, whose significance extends far beyond that of a traditional urban development initiative.

In essence, the project aims to create a new economic, administrative, and investment hub capable of easing pressure on the existing capital while introducing a fundamentally new model of urban organization based on smart city principles and sustainable development.

In this case, the concept of the “15-minute city,” green infrastructure, digital governance, public transport prioritization, and energy efficiency are not treated as separate elements, but as components of a broader strategy aimed at expanding economic space and improving the quality of the urban environment.

Against this backdrop, New Tashkent illustrates how urbanization can serve not only as a response to infrastructure pressures, but also as a tool for creating new centers of economic growth capable of redistributing business activity and shaping the long-term development of the urban agglomeration.

This is also why the project has a distinctly international dimension. Its implementation involves Singapore’s Meinhardt Group, the UK-based Foster + Partners and Cross Works, the Dutch firm OMA, Japan’s Sojitz Corporation, South Korea’s Incheon International Airport Corporation, and other international partners. This reflects Uzbekistan’s efforts to integrate global expertise into its national development model.

Azerbaijan, in turn, has chosen a different approach to the development of smart urban spaces. Rather than building entirely new cities from scratch, the focus has been placed on the restoration and comprehensive modernization of recently reintegrated territories alongside the introduction of modern urban planning solutions and Smart City technologies.

This approach goes beyond the physical reconstruction of infrastructure and involves rethinking urban development through digital technologies, sustainable planning, and green standards.

Following the reintegration of Karabakh and Eastern Zangezur, Azerbaijan faced not only the challenge of rebuilding damaged territories, but also the task of their socio-economic reintegration into the country’s broader development framework. In this context, the concepts of Smart City and Smart Village have gained particular strategic importance, serving as the foundation for a new model of territorial planning and governance.

Within this model, technology is no longer viewed solely as a modernization tool, but as an instrument for comprehensive territorial development. It supports the rapid restoration of basic services, creates conditions for the return of displaced populations, stimulates economic activity, and enables more effective management of spatial development.

One of the clearest examples is Aghali — Azerbaijan’s first “smart village.” The project demonstrates how digital infrastructure, renewable energy, smart agriculture, and modern public services can become part of a new model of post-conflict reconstruction.

The village covers around 119 hectares and includes more than 200 modern eco-friendly homes equipped with smart systems, as well as social and public infrastructure facilities, including a school, kindergarten, medical center, ASAN xidmət and DOST service centers, small business facilities, and administrative buildings.

A similar development model can also be seen in Fizuli, Aghdam, Shusha, Khojaly, and several other settlements, where new infrastructure systems are being developed based on environmental sustainability, transport accessibility, and digital management of urban and rural services.

Like Uzbekistan, Azerbaijan also relies heavily on international cooperation as a key driver of modernization. Huawei is involved in implementing digital solutions, the World Bank provides analytical and advisory support, while Japan is expanding cooperation in smart infrastructure and green energy, contributing to the adoption of advanced technological practices.

Uzbekistan is building a new urban environment from the ground up, while Azerbaijan is developing its model against the backdrop of a complex historical and territorial transformation. At first glance, these are very different starting points. Yet this is precisely what makes the similarities in their approaches particularly notable. In both cases, digital infrastructure is not treated as an additional layer built onto the city, but as a core element shaping its future development from the outset.

At the same time, neither country is pursuing a model based on copying existing examples. The experiences of Singapore, Dubai, and Qatar are being studied, but not replicated. Instead, both states are developing their own models tailored to local demographic, geographic, historical, and social realities. This reflects not a limitation of choice, but the maturity of their strategic approach.

Against the backdrop of accelerating urbanization across Central Asia and the South Caucasus, the experiences of Uzbekistan and Azerbaijan are increasingly emerging as a kind of laboratory for new development models. While their strategies differ in tools and priorities, both are driven by the same objective: building a new generation of cities that combine technology, sustainability, adaptability, and a people-centered approach.

Abbosbek Mashrapov

Senior Research Fellow, International Institute for Central Asia

At the invitation of President of the Republic of Uzbekistan Shavkat Mirziyoyev, United Nations Secretary-General António Guterres will pay an official visit to our country from June 30 to July 1.

The program of the high-ranking guest's stay in Tashkent envisages talks at the highest level.

The agenda includes issues of further expansion and strengthening of Uzbekistan's multifaceted cooperation with the UN and its institutions, as well as topical aspects of global policy and regional interaction. Special attention will be paid to supporting measures to achieve the Sustainable Development Goals in our country.

During the visit, the UN Secretary-General will also visit a number of industrial and social sites, hold bilateral meetings and events.

Translated with DeepL.com (free version)

Development of the “Central Asia Plus” Formats

In recent years, Central Asia has increasingly acted as a unified region in international relations. Alongside bilateral ties, “Central Asia Plus” formats have been developing, allowing the countries to coordinate their shared interests and discuss trade, investment, industrial cooperation, transportation, energy, and security with external partners.

Existing formats include “Central Asia–European Union,” “Central Asia–Russia,” the C5+1 platform with the United States, as well as dialogue mechanisms with China, Japan, South Korea, and other partners. These mechanisms do not replace bilateral cooperation but complement it with a regional agenda.

Central Asia’s Multivector Cooperation

The first “Central Asia–European Union” summit, held in Samarkand in April 2025, focused on developing a strategic partnership between the two regions. Particular attention was paid to investment, technological modernization, green energy, critical minerals, transportation, and logistics.

Uzbekistan proposed establishing an investment platform to advance regional projects and developing coordinated conditions for expanding the Trans-Caspian Transport Corridor. It also proposed holding a meeting of the transport ministers of the countries located along the route.

The second “Central Asia–Russia” summit, held in October 2025, focused on expanding trade, industrial cooperation, and collaboration in energy and transportation.

Uzbekistan proposed holding annual summits, establishing a coordination council at the deputy prime minister level, and creating an integrated transportation and logistics framework combining national road, rail, and air connectivity programs. Particular attention was also paid to developing the North–South Corridor and resilient production chains.

Thus, the “Central Asia Plus” formats enable the region to develop cooperation in several areas simultaneously. Their purpose is not to choose a single partner or route, but to expand economic ties and strengthen the region’s resilience to external changes.

Establishing a New C5+1 Format

The “Central Asia + Azerbaijan” format differs from other platforms because Azerbaijan is directly connected to the region through the Caspian Sea and is a key component of transportation routes leading toward the South Caucasus, Türkiye, and Europe.

For Central Asia, Azerbaijan is an important transit, investment, and industrial partner. For Azerbaijan, the Central Asian countries represent a growing market and a source of cargo flows for its port, railway, and logistics infrastructure. The new format therefore has not only political significance but also a specific economic dimension.

At the seventh Consultative Meeting of the Heads of State of Central Asia, held in Tashkent on November 16, 2025, a decision was made to grant Azerbaijan full participation. This became the first meeting of regional leaders in the expanded format.

President of Uzbekistan Shavkat Mirziyoyev proposed gradually transforming the consultative dialogue into a strategic “Central Asian Community” format. Initial steps included strengthening the institutional framework of the meetings, establishing a rotating secretariat, and elevating the status of national coordinators to special representatives of the presidents.

In trade and economic cooperation, Uzbekistan proposed developing a Comprehensive Regional Program for Trade and Economic Cooperation through 2035. The document is expected to address the removal of administrative barriers, simplification of customs and tax procedures, joint use of industrial and free economic zones, and other measures to increase intraregional trade.

Initiatives were also proposed to establish a common investment space and develop e-commerce. These measures include coordinating basic approaches to investor protection, creating regional digital marketplaces, and developing reliable digital payment systems.

Particular attention was paid to transportation and energy infrastructure. Uzbekistan proposed establishing an Infrastructure Development Council at the deputy prime minister level. Priorities included the construction and modernization of roads, railways, border checkpoints, energy networks, green corridors, and digital infrastructure.

Transportation initiatives covered the China–Kyrgyzstan–Uzbekistan railway, the Trans-Afghan route, and the Trans-Caspian transportation routes connecting Central Asia with the markets of the Caucasus, Türkiye, and Europe.

In 2026, the meeting is expected to continue under Turkmenistan’s chairmanship in the new “Central Asia and Azerbaijan” format.

Economic Foundation of Cooperation

The expansion of the regional format is taking place against the backdrop of growing trade and investment ties between Uzbekistan and the Central Asian countries.

In 2025, Uzbekistan’s trade turnover with the countries of the region reached $8.3 billion. Exports totaled approximately $3.2 billion, while imports amounted to $5.1 billion. Kazakhstan remained Uzbekistan’s largest regional trading partner, accounting for 60.2% of its trade with Central Asian countries. Turkmenistan and Kyrgyzstan each accounted for 14.5%, while Tajikistan accounted for 11%.

As of June 2026, Uzbekistan was home to 2,384 enterprises with capital from Central Asian countries. These included 1,283 enterprises with Kazakh capital, 442 with Tajik capital, 362 with Kyrgyz capital, and 297 with Turkmen capital.

The total volume of direct investment and loans attracted from the countries of the region in 2017–2025 amounted to $2.5 billion. In 2025 alone, this figure reached $1.3 billion.

At the same time, the potential of intraregional trade has not been fully utilized. According to calculations by the Center for Economic Research and Reforms, replacing some goods imported from third countries with intraregional supplies could increase trade within Central Asia by $11.4 billion, more than doubling its current volume. Unlocking this potential requires reducing tariff and non-tariff barriers, improving information exchange among businesses, and developing regional production chains.

Uzbekistan’s economic relations with Azerbaijan are also strengthening. Between 2017 and 2025, bilateral trade increased 9.5-fold, from $32.5 million to $307.3 million. Uzbekistan’s exports reached $227.3 million, while imports from Azerbaijan amounted to $80 million.

Uzbekistan’s exports mainly consist of manufactured goods, machinery and transportation equipment, food products, beverages, finished goods, and services. Imports are dominated by food and manufactured goods, machinery, transportation equipment, and chemical products.

Uzbekistan is home to 460 enterprises with Azerbaijani capital. Their number has increased 6.5-fold since 2017. In 2025, Azerbaijani investment in Uzbekistan totaled $173.7 million, bringing cumulative investment to $318.6 million.

An additional instrument was created in 2023 with the establishment of the Azerbaijan–Uzbekistan Investment Company, which has authorized capital of $500 million and can finance projects in Uzbekistan, Azerbaijan, and third countries.

Cooperation is also developing in the automotive industry, textiles, construction, agriculture, and other sectors.

The Middle Corridor and Azerbaijan

Expanding trade and industrial cooperation requires reliable transportation infrastructure. For Uzbekistan, which has no direct access to the sea, developing alternative routes is essential to strengthening the resilience of foreign trade.

The Middle Corridor connects China and Central Asia with the South Caucasus, Türkiye, and Europe. Cargo from Uzbekistan can be transported through Kazakhstan or Turkmenistan to Caspian ports, shipped by sea to Azerbaijan, and then delivered to European markets through Georgia and Türkiye or across the Black Sea.

Azerbaijan occupies a central position in the western section of the route. Its transportation infrastructure includes the Alat International Sea Trade Port, the Caspian merchant fleet, and the Baku–Tbilisi–Kars railway.

The capacity of the Alat Port is expected to increase from 15 million to 25 million metric tons, while the capacity of the Baku–Tbilisi–Kars railway has been expanded to 5 million metric tons. A unified digital platform is also being developed to simplify transportation operations and trade between Caspian ports.

According to the World Bank, if the necessary infrastructure and organizational reforms are implemented, freight traffic along the Middle Corridor could triple by 2030, while delivery times could be reduced by half.

During the first nine months of 2025, transit freight between Uzbekistan and Azerbaijan exceeded 1 million metric tons. This indicates growing prospects for using Azerbaijan’s transportation infrastructure as a transit route for Uzbek cargo.

The opening of the Zangezur Corridor is also expected to create additional opportunities for all Central Asian countries.

Opportunities for Uzbekistan and Central Asia

For Uzbekistan, the Middle Corridor provides an additional route to the markets of Azerbaijan, Georgia, Türkiye, and the European Union. This makes it possible to diversify transportation routes and reduce foreign trade dependence on a limited number of corridors.

Delivery times and predictability are especially important. They directly affect the competitiveness of textiles, fruits and vegetables, electrical equipment, automobiles, and other high-value-added products. Coordinating rail and maritime transportation schedules, introducing digital documentation, and reducing border-crossing times could lower exporters’ costs.

The corridor’s development will also create demand for dry ports, multimodal terminals, warehouses and cold-storage facilities, repair enterprises, and insurance, financial, and digital services. Transportation can therefore be viewed not only as a means of delivering goods but also as a separate area of investment and industrial development.

Additional opportunities are associated with the construction of the China–Kyrgyzstan–Uzbekistan railway. Its integration with the Middle Corridor would establish a shorter and more resilient transportation link between China, Central Asia, the Caucasus, and Europe.

For Central Asia as a whole, developing the route would make it possible to consolidate cargo flows, harmonize transportation procedures, and increase the region’s attractiveness to international investors. A larger and more stable cargo base would support regular train and vessel services, reduce per-unit costs, and expand the geographic reach of shipments.

The Middle Corridor is not viewed as a replacement for northern or southern routes. Its main purpose is to expand available options, strengthen logistics resilience, and create additional connections to external markets.

The Importance of Industrial Cooperation

Transportation cooperation will have a long-term impact if it is linked to the development of manufacturing. Growth in transit alone will not ensure the full realization of the new format’s economic potential.

Uzbekistan, other Central Asian countries, and Azerbaijan could establish joint production chains in the automotive industry, textiles, agricultural processing, electrical engineering, construction materials, chemicals, and machinery manufacturing.

An analysis by the Center for Economic Research and Reforms shows that regional enterprises could supply one another with raw materials, components, and finished products, reducing their dependence on imports from third countries.

One promising area is the establishment of joint industrial zones and logistics centers along the Middle Corridor. The idea of creating “mirror” special economic zones in Uzbekistan and Azerbaijan has not yet reached the implementation stage, but it offers significant development potential.

At the same time, growing bilateral trade, the work of the joint investment company, and expanding transportation links are creating conditions for revisiting this initiative.

Such zones could specialize in product assembly and processing, consolidation of export shipments, warehousing operations, and transportation services. Establishing interconnected production facilities in Uzbekistan and Azerbaijan would combine Central Asia’s industrial potential with the transportation infrastructure of the South Caucasus.

Conclusion

The first meeting in the expanded format established a political and institutional foundation for cooperation between Central Asia and Azerbaijan. The next meeting, under Turkmenistan’s chairmanship, could focus on the practical development of the Middle Corridor and the expansion of industrial cooperation.

In transportation, the main priorities include coordinating tariffs and procedures, developing regular rail and maritime services, modernizing port and border infrastructure, digitizing documentation, and exploring opportunities to connect the Middle Corridor with the China–Kyrgyzstan–Uzbekistan railway.

In industry, priorities could include establishing joint production chains, developing industrial zones, implementing projects through the Azerbaijan–Uzbekistan Investment Company, and attracting international financial institutions to infrastructure and manufacturing projects.

For Uzbekistan, the “Central Asia + Azerbaijan” format creates opportunities to expand exports, diversify transportation routes, and attract investment in manufacturing and logistics. For other Central Asian countries, it provides an additional route to Western markets.

The format’s future significance will depend on how consistently the participating countries develop the Middle Corridor and complement the transportation agenda with industrial and investment cooperation. The upcoming meeting could provide practical momentum for implementing the most ambitious and mutually beneficial projects.

Edvard Romanov,

Center for Economic Research and Reforms

Today, global development is proceeding at an unprecedented pace of urbanization — by 2050, nearly 68% of the world’s population is expected to live in cities.

This process is also advancing rapidly in Uzbekistan: the country’s population has exceeded 38 million, the urbanization rate has reached 51%, and nearly 20 million people now live in urban areas.

According to economic analyses, every 1% increase in the urbanization rate grows the economy by at least 1% and accelerates investment flows and startup development — making reforms in this sector of strategic importance.

With this in mind, within the framework of Uzbekistan’s urbanization policy, the practice of “chaotic construction” has been abandoned in favor of smart and integrated territorial development — an approach recognized as essential in global best practices.

One of the most important institutional steps was the establishment of the National Committee for the Sustainable Development of Urbanization and the Housing Market. This body serves as the central “think tank” unifying architecture, economics, and social policy into a single system.

To reduce administrative barriers in the construction sector, the number of permitting stages has been cut by a factor of 3, and processing timelines by a factor of 4. Additionally, 420 outdated urban planning norms have been restructured, replaced by 140 modern regulatory documents.

Furthermore, in Uzbekistan, land ownership no longer automatically grants the right to build — the process is now based on the principle of integrated territorial development.

Most importantly, a strict principle has been enshrined in law: schools, clinics, and modern utilities must be built before or simultaneously with residential construction.

These new mechanisms provide, above all, trust and financial stability. To ensure stability in the housing market and strengthen buyer confidence, measures have been taken to fully eliminate the risk of “unfinished constructions.” To this end, a system of escrow accounts is being widely introduced in Uzbekistan for the first time.

Through this modern mechanism, citizens’ funds are securely held in banks until the keys to the property are handed over. Developers, in turn, gain access to affordable and convenient project financing. As a result, urban development has transformed from a chaotic process into a managed industry operating under transparent rules.

Development Strategy and Achievements

Over the past eight years, 120 million square meters of housing have been built across the country. The total volume of construction work grew from 30 trillion soums in 2016 to 314 trillion soums last year, and the sector now employs more than 3.5 million people.

According to the state’s long-term priority strategy, the following key targets have been set:

• Raise the urbanization rate to 60%;
• Increase housing provision from 18.9 square meters per capita to 23 square meters;
• Nearly double the annual housing construction volume to 30.3 million square meters.

Innovative Mega-Projects and an Ecological Approach

The most vivid practical expression of this strategy is the “New Tashkent” mega-project, rising across 20,000 hectares. Designed for a population of 1 million residents, this ecologically clean, high-tech metropolis implements the globally recognized “15-minute city” concept. The project includes the creation of a 420-hectare “green belt,” the planting of 200,000 trees, and a fully ecological transport system (electric buses, metro, and bicycle lanes).

These high living standards are not limited to the capital. Across the country, 56 “New Uzbekistan” residential districts, each designed for at least 70,000 residents and equipped with rich social infrastructure, are being constructed at an accelerated pace.

In conclusion, Uzbekistan has formed a sustainable and effective model for managing urbanization, encompassing the National Committee, the escrow system, and the smart “New Uzbekistan” districts. By transforming modern cities into ecologically clean, socially oriented, and livable spaces, the country is establishing a high benchmark for urbanization in the Eurasian region.

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

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

Financial results for Q4 2025

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

Activity ranking of large banks for Q4 2025

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

Dynamics of key indicators

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

Activity ranking of small banks for Q4 2025

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

Jafar Khidirov,
Head of Banking and Financial Research Sector

The text of the article is in Russian!

In recent years, systematic work has been carried out to create a continuous chain of comprehensive support for the development of entrepreneurship in our country. As a result of the measures implemented and important decisions made over the last seven years, a new generation of entrepreneurs of New Uzbekistan has emerged.
In particular, BMB HOLDING is one of the major subjects of private entrepreneurship, playing an important role in the economic life of our country, and gaining strong positions not only in the domestic, but also in the international market.
On the eve of the 33rd anniversary of independence of the Republic of Uzbekistan, Dunyo information agency talked to Bekzod Mamatkulov, the founder of BMB HOLDING.
– Mr. Mamatkulov, in recent years BMB HOLDING has gained a great reputation not only in Uzbekistan, but also among the international business community. Today, the Holding effectively works in the areas of providing consulting services on investment projects, developing international business and trade relations, attracting foreign investments, export-import exchange, introducing innovative technologies, creating modern agro-industrial clusters. We would like to start our conversation with the organization of the Holding and the history of its development.
– After his election as President, Shavkat Mirziyoyev put on the agenda of our state’s policy such important issues as increasing economic potential, attracting investments and, most importantly, supporting entrepreneurs to bring the country to a new stage of development.
In this sense, the opportunities created for entrepreneurs have radically changed my life goals and made me want to test my potential in business.
We generated our first income through services. Developing business plans and providing consulting services was our first source of income. Later we bought land in Arnasay district of Jizzak region to implement our agricultural projects. We planted mung beans and peas as secondary crops here. The first attempts were successful. The agricultural products we grew gave better results than we expected. For the first time we were able to export our crops abroad. In particular, we started selling agricultural products to Pakistan, India and Afghanistan. Later, we had a plan to supply cotton and grain to the state on a contract basis, and we gradually expanded our financial capacity, making a profit from it.
In 2017, during the visit of the Head of state to Jizzakh region, our project to create a food cluster in Arnasay district was presented. At the meeting, the President emphasized that he would support us, like all businessmen, and expressed great confidence in us. Such attention and support of the President of the country gave us additional strength. After that, there was a desire to further expand our business activities, to test ourselves in new industries, to develop and implement joint projects with foreign partners.
In particular, in 2018, we were among the first to create the largest cotton cluster in the country. Thanks to the attention of the management and creation of favorable conditions for doing business, we created a cluster for growing medicinal plants, namely saffron. Later we organized a fruit and vegetable cluster. This big project, in turn, enabled us to set up a system of sorting, packing and deep processing of fruits and vegetables. Thus, having passed through various stages of business, our small project has now formed into BMB HOLDING. At present the Holding unites 30 enterprises. They employ more than six thousand people across the country.
– It is no secret that today the Holding realizes investment projects of international and national level. As an entrepreneur and a person who knows the business environment in foreign countries, how do you assess the investment environment in Uzbekistan? Are there aspects that do not satisfy you, are there factors that are obstacles for business?
– In the process of building New Uzbekistan, the creation of a favorable investment environment for entrepreneurs has become one of the main goals of the reforms of the Head of our state. The adoption by the President of Uzbekistan of a number of decrees and resolutions aimed at supporting entrepreneurs is yielding results today.
Improvement of tax legislation, creation of the possibility of free currency conversion, reforms in the sphere of private property and a number of other positive changes related to these spheres have played their important role, and entrepreneurs are now considered as the driving force of the country’s economy. In 2020-2022, despite the fact that the coronavirus pandemic worldwide had a large negative impact on the economies and the global investment environment, Uzbekistan’s economic growth rates remained stable and its investment attractiveness continued to grow.
The fact that the inflow of foreign investments into the country has increased significantly testifies to the confidence of international business in the economic reforms in our country. Active diversification of the economy is an important achievement that has opened new opportunities for investors in all sectors, starting with industry.
Now, if we talk about the factors that are obstacles for business, aspects that do not satisfy entrepreneurs, I will tell the truth openly: at the level of the government, reforms are being implemented very intensively, positive changes are taking place. But when you go to the lower level of the system, there are still cases of inattention and carelessness somewhere. I believe that such shortcomings will be eliminated.
– We know that BMB HOLDING is engaged in the production and export of a wide variety of agricultural products. In particular, the organization headed by you has achieved great success in saffron cultivation. Today saffron grown in Uzbekistan is becoming popular in many regions of the world. Tell me, when did you come up with the idea of establishing such a complex sphere as saffron cultivation in Uzbekistan and why did you choose this particular project?
– During President Shavkat Mirziyoyev’s visits to Kashkadarya region in 2017, the issue of cultivation of medicinal plants in mountainous and foothill regions, development of this sphere in our country and export of valuable medicinal plants to the world market was prioritized. The leader of our country also inquired why it is impossible to grow saffron in Uzbekistan despite all conditions, and gave a special instruction to develop this industry. During the President’s visit to Jizzakh region, we made a detailed presentation of our saffron cultivation project. Having familiarized himself with the project, the Head of state expressed his full support to it and instructed the responsible persons to implement the program as soon as possible.
However, it was not easy to realize this project at first. When implementing this business idea, first of all, we deeply studied the demand and supply in the domestic and foreign markets, opportunities and prospects for its implementation in the conditions of Uzbekistan, our own potential in this area, as well as a number of other factors. In 2020, we started to implement the project in pandemic conditions. At first, it took a lot of patience and hard work to find specialists, to bring saffron bulbs suitable for our climate from Europe and to get the desired harvest. In the first year we planted saffron bulbs on 55 hectares of land. The high demand for the harvest and the experience gained stimulated further development and expansion of the project. Today saffron is grown on 400 hectares of land. In the next three years, it is planned to increase the area of saffron plantations to 1,000 hectares and produce 20 tons of pure saffron products per year.
At the beginning of 2024, the product BMB Za’faron for the first time in our region received the USDA Organic certificate, an environmental certificate developed by the U.S. Department of Agriculture, which allowed Uzbek saffron to enter the American markets. After several years of in-depth analytical research, Uzbek saffron grown in the Bakhmal district received the appropriate permission to export to Chinese markets according to the conclusion of the Uzbek-Chinese interdepartmental commission.
– Indeed, a lot of experience in saffron cultivation has been accumulated in recent years. At the same time, what countries’ experience do you think should be studied and implemented in order to grow a competitive product that meets the requirements of international standards and markets?
– In agriculture, each product is grown using a specific method. Such countries as Italy, Austria, South Korea, USA, and Saudi Arabia have enough experience in saffron cultivation. Of course, we study the experience of countries with climatic conditions close to ours and exchange experience with industry experts. I can say that we have mobilized all possibilities to get more crops and export them abroad. The increase in exports, in turn, contributes to increasing the inflow of foreign currency into Uzbekistan and ensuring economic stability.
To bring our national products to the world market and increase their competitiveness, the most important factors are, first of all, quality, then price and, of course, matching production capacity to demand. We have taken these aspects into account in our work and projects, especially in saffron cultivation.
– In Uzbekistan, on the initiative of the Head of our state, an open dialog with entrepreneurs is held annually. Tell me, what impact do these efforts have on the activities of the Holding headed by you?
– It would not be an exaggeration to say that the adoption of a number of resolutions and decrees on creation of favorable business environment and healthy competition in our country, comprehensive support for entrepreneurs, further liberalization of tax policy have served to eliminate the problems that have arisen for many years and hindered the free activity of entrepreneurs.
Thanks to the political will of the President of Uzbekistan, the organizational and legal foundations for the development of the industry have been strengthened, and the attention to entrepreneurs has changed dramatically. Most importantly, all this has already started to yield positive results.
In addition, an open dialog between the President of the Republic of Uzbekistan and entrepreneurs has been established. In my opinion, there is no other country in the world that has such a format.
I can confidently say that the open communication of the Head of state with the business community, which has now become a tradition and is held annually, serves as an important factor in the formation of a new competitive class of entrepreneurs in New Uzbekistan.

I visit many countries for work. In particular, my friends-partners in Italy, Germany, the United States, Austria and other countries highly appreciate the annual dialog of the President of Uzbekistan with entrepreneurs. It is no secret that people look at us with envy when they see the personal attention of the Head of state to the development of business in our country. In fact, it is a great achievement for both sides — the President meets with businessmen, listens to their systemic problems, finds solutions and solves them. Therefore, today all businessmen are looking forward to meeting with the President. This meeting has also become an important forum for businessmen to assess their activities for the year and determine plans for the future. The speeches of our country’s leader at the meeting and important initiatives aimed at further development of the industry, removal of existing obstacles, provision of benefits to entrepreneurs serve as a program for further expansion of businessmen’s activities.
I would like to give an example based on my experience. Before dialoguing with the President, I note in my notebook the issues we face in our work. Listening to the President, I always get comprehensive answers to all my questions based on deep analysis.
– In August 2022, by the decree of the President of Uzbekistan, you were awarded the “Faol Tadbirkor” sign, and in 2023 — the “Dustlik” order. Recall those moments when your entrepreneurial activity was highly appreciated by the leadership of our country.
– Before answering, I have to say one thing. Before coming to business, I worked in state and public organizations for more than 15 years. I never received even a certificate of honor, let alone a state award. Today, the leader’s focus is on people who have sincerely worked for the development of our dear country — Uzbekistan. In recognition of our work, in 2022, I was awarded the “Faol Tadbirkor” sign. In 2023, I had the honor to receive the “Dustlik” Order from the esteemed President. These are not just awards given to me, they are recognition of the work of thousands of dedicated people working in the Holding’s system. Such a high appreciation gives our team more confidence and motivation, and gives us great strength to realize the goals we have set for ourselves.
– The direction of economic diplomacy is becoming increasingly important in attracting foreign investment to Uzbekistan, finding new partners and exporting national products abroad. In this regard, does the Holding, which you head, use the opportunities of diplomatic missions of our country in foreign countries? How satisfied are you with the work of our country's embassies in this direction?
– Frankly speaking, it used to be impossible to meet with diplomats. If you went abroad and wanted to meet with the Ambassador of our country, he would not accept businessmen. This is an open statement. The Ambassador only dealt with politics. Thanks very much to our President, he brought the diplomats’ attention to the economy as well. This, of course, has opened wonderful conditions and opportunities for entrepreneurs. Openness in this sphere, in turn, has become an important step for entrepreneurs in finding foreign partners and attracting investment.
Today, the diplomatic missions of Uzbekistan in foreign countries play a very important role in the activities of the Holding Company, and we feel their support at every stage of realization of our numerous projects. The introduction of the position of Advisor to the Ambassadors of Uzbekistan on economic issues has been very useful for us entrepreneurs. It should be noted that BMB HOLDING has established close relations of economic cooperation with embassies of foreign countries in Uzbekistan, in particular with diplomatic missions of Russia, China, USA and a number of European countries such as Poland, Austria and Latvia.
In a word, the role of diplomatic missions of Uzbekistan and foreign countries in our country is very important in effective realization of the company’s projects.
– Today BMB HOLDING operates in the field of cultivation and production of agricultural products. Our readers are also interested in the future plans of the Holding.
– Our plans for the near future are huge. In particular, the work on establishment of deep processing of agricultural and fruit and vegetable products, and the launching of textile factories in Syrdarya region is in full swing. We also want to implement projects in the field of medicine. Our first project in this direction will be the creation of a health center in Navoi region in 2025. Also, a chain of restaurants and hotels “Zafaron” will be launched in Tashkent city and Tashkent region.
Along with this, we plan to implement the project “Energy-efficient technologies and equipment for production, mining and processing of natural decorative stone” worth 50 million US dollars together with the organization Toksel Makina from Turkey.
– Our last question may be off-topic, but many people are also very interested in this area. We would like to ask about your projects in sports, especially in soccer. What are your goals in soccer and futsal? Also, please, provide information about BMB HOLDING brand ambassadors in the sphere of chess.
– This is an interesting question. BMB HOLDING considers the development of sports in our country, especially soccer and futsal, as one of the main directions of its activity. The Holding was one of the sponsors of Sogdiana soccer club in 2021 and Lokomotiv soccer club in 2022. Since 2023, our Holding has been one of the sponsors of the professional soccer league of Uzbekistan.
At the same time, the BMB PROFESSIONAL FUTSAL CLUB team started its activity in the system of the Holding. A number of famous local and Brazilian futsal players were invited to the team. For the last two years the team won the Cup of Uzbekistan and the Super Cup of Uzbekistan. Today the basis of our team is made up of futsal players playing in the national team of Uzbekistan on mini-football.
On June 30, on the occasion of Youth Day in Uzbekistan together with the Agency for Youth Affairs within the framework of the project of the brand ORRO ROSSO in Milan (this brand is currently the official partner of the Italian soccer club Milan and Monza) we organized a trip to our country of four famous former players of the soccer club Milan, world and European champions Dida, Sergino, Panucci and Zaccardo. I believe that the visit of famous soccer players to Uzbekistan has served to increase the interest and activity of our youth in sports.
As you know, the Futsal World Cup will be held in our country from September 14 to October 6 this year. BMB HOLDING as the main partner organization is preparing for this futsal holiday.
Besides, BMB HOLDING actively supports talented young chess players. Recognizing them as the face and ambassadors of the Holding, we call them brand ambassadors. In particular, FIDE Master of Sports Humoyun Bekmurodov won a silver medal at the X Chessable Sunway Sitges International Chess Festival 2023 held in Barcelona (Spain), and also won the Dubai Police Global Chess Challenge tournament held in Dubai (United Arab Emirates) on May 3-13 this year.
Another of our young chess players is Umida Omonova, a student of the International Chess School, world champion in blitz and rapid, FIDE Master of Sport, member of the Uzbekistan national team, holder of the state award named after Zulfiya, brand ambassador of BMB HOLDING. She also won the 18th round of the Uzbekistan Championship held in April this year.
Another thing is that BMB HOLDING mobilizes all its capabilities and potential in the direction of further prosperity of New Uzbekistan, which is being built under the leadership of the Head of state, improvement of welfare of our people and development of the Motherland.
- Thank you for taking the time to talk to us.
- Thank you.

Dunyo IA

Issues of practical implementation of agreements at the highest level and promotion of investment projects were at the center of attention during the telephone conversation held on December 17 between the President of the Republic of Uzbekistan Shavkat Mirziyoyev and Amir of the State of Qatar Sheikh Tamim bin Hamad Al-Thani.

The Head of our state warmly congratulated the Amir of Qatar on the national holiday - Foundation Day, wishing him health, well-being and success, as well as peace and prosperity to the friendly Qatari people.

Current matters of further expansion of multifaceted cooperation and strengthening of strategic partnership between our countries were discussed.

The results of active contacts and exchanges were positively assessed. In November this year, the first meeting of the Intergovernmental Commission and business forum were successfully held in Doha. In October, the Qatar Culture Week events were successfully organized in Tashkent.

With the participation of leading Qatari companies, investment projects are being implemented in the field of energy, development of transport and tourism infrastructure, agriculture, healthcare and other priority areas.

There is a regular direct flight service between the capitals, which facilitates the growth of mutual tourist flow.

During the conversation, the heads of state paid particular attention to the schedule of upcoming events in 2025, including the second dialogue summit “Central Asia - Cooperation Council for the Arab States of the Gulf”.

Exchange of views on topical issues on the international agenda also took place.

Stolen cultural property dating back to the 2nd and 3^rd centuries AD has been returned to Uzbekistan following a large-scale investigation involving law enforcement agencies and scholars from across Europe.

A number of artefacts, illegally smuggled from the Central Asian republic that was once the heart of the Bactrian and Kushan empires, were presented by the Metropolitan Police's Art and Antiquities Unit at the Embassy of Uzbekistan. They will subsequently be transported back to their homeland, where they will take a prominent place in the exhibition of the recently opened Center of Islamic Civilization in Tashkent.

The event serves as vivid evidence of Uzbekistan's consistent policy regarding the repatriation of national cultural heritage and highlights the growing global trend toward the protection of cultural values.

“This event is a compelling confirmation of the broad international support for the consistent course of the President of Uzbekistan Shavkat Mirziyoyev, aimed at returning cultural treasures to their homeland, - noted Firdavs Abdukhalikov, Director of the Center of Islamic Civilization in Tashkent and Chairman of the Board of the World Society for the Study, Preservation and Popularization of the Cultural Legacy of Uzbekistan (WOSCU). - We are deeply grateful to our partners and law enforcement representatives from European countries for their support and look forward to further cooperation in preserving and restoring our cultural heritage”.

Detective Sophie Hayes of the Metropolitan Police, addressing a gathering of prominent scholars and officials, emphasized that the recovered artefacts are the heritage not only of Uzbekistan but of all humanity. According to her, the investigation was conducted with the assistance of both national and international specialists, as well as the Organization for Security and Co-operation in Europe (OSCE), with the support of the World Society for the Study, Preservation and Popularization of the Cultural Legacy of Uzbekistan (WOSCU).

The items presented at the exhibition are among the findings discovered in November 2025 during an investigation codenamed Operation Inherent Vice by the police.

A total of nine artefacts were on display, including statue heads and fragments of gypsum frescoes. These monuments date from the 2nd-3rd to the 7th century AD and hold exceptional historical significance for both Uzbekistan and the broader Islamic world.

“The return of these priceless artefacts is not only a victory for New Uzbekistan but also a compelling testament to the power of international cooperation in preserving the country's historical heritage, - added Mr. Abdukhalikov, noting that cultural organizations, legal institutions and diplomatic missions have confirmed their readiness to assist Uzbekistan in recovering its lost treasures”.

The ceremony reflected a broader trend toward strengthening global interaction in the field of cultural heritage protection, with a particular focus on increasing transparency and adhering to ethical standards in the art and antiquities market.

The Center of Islamic Civilization also announced its intention to participate in the upcoming Sotheby’s and Christie’s auctions and to visit art galleries in London. These initiatives are aimed at acquiring new items of Uzbek cultural heritage for the purpose of their preservation and return to the homeland.

“Uzbekistan's efforts to return and protect its cultural heritage continue to attract the attention and support of the international community. We are setting a powerful example of coordinated action in the field of restitution of cultural property”, - emphasized Mr. Abdukhalikov.

“The returned items possess exceptional historical and scientific value, as they belong to various eras of the ancient history of the territory of modern Uzbekistan and reflect the diversity of civilizational processes that have occurred in Central Asia over the centuries”, - noted Dr. Farhod Maksudov, Director of the National Center of Archaeology (Institute of Archaeology) of the Republic of Uzbekistan.

IA “Dunyo”