Uzbekistan’s Business Climate Analysis for 2025 – A CERR Study

📅 04.02.2026

Throughout the year, the business climate remained in positive territory, with an annual average of 57 points, indicating an overall favorable business environment in Uzbekistan.

The Center for Economic Research and Reforms (CERR) presented the results of its 2025 business climate analysis, based on monthly nationwide surveys of entrepreneurs. Using the collected data, a composite Business Climate Indicator was constructed, reflecting assessments of current business conditions as well as expectations for the next three months.

Dynamics of the Composite Business Climate in Uzbekistan

According to the results of 2025, the annual average value of the Composite Business Climate Index in Uzbekistan amounted to 57 points on a scale from −100 to +100, which is 7% higher than in 2024. The growth was primarily driven by improved assessments of current conditions. The annual average value of the Current Business Conditions Index increased by 22% and reached 47 points.

At the same time, the Expectations Index declined slightly from 68 to 66 points, while remaining at a relatively high level. This reflects a certain degree of caution among enterprises regarding future prospects amid an overall improvement in perceptions of current conditions.

Over the year, the dynamics of the Composite Business Climate Index were uneven. The highest value was recorded in June at 63 points, while the lowest level was observed in January at 52 points. Fluctuations during the year reflected both seasonal factors and businesses’ adaptation to rapidly changing economic conditions.

By the end of the year, a high level of optimism among enterprises persisted. In December, the Business Climate Index stood at 58 points, increasing by 2 points compared to the end of 2024.

Sectoral and Regional Dynamics of the Business Climate Index

From a sectoral perspective, improvements in the business climate were recorded across most sectors of the economy in 2025. In the services sector, the index reached 58 points, representing an increase of 14.7%. In construction, the index stood at 57 points, up by 14.2%, while in industry it reached 54 points, increasing by 6.8%.

In agriculture, the index remained virtually unchanged at 56 points, indicating the persistence of previously established assessments of business conditions in this sector.

From a regional perspective, the annual average Business Climate Index increased compared to the previous year in 11 regions of the republic. In seven regions, the annual average value of the index reached 57 points.

The most pronounced improvement in business climate conditions was observed in Kashkadarya region, where the index increased by 27%, followed by Jizzakh region with a 23% increase and Khorezm region with a 17% increase. In the Republic of Karakalpakstan, growth amounted to 19%.

In Samarkand region, despite a slight decline in the index, the annual average business climate remained in positive territory at 51 points. In Tashkent region, the indicator remained unchanged at 44 points.

Business Expectations Regarding Price Dynamics and Demand

In terms of business expectations, inflationary and market assessments remained moderate in 2025. On average, 23% of companies expected price increases in the near term, which is 2 percentage points lower than in 2024.

During the year, the share of entrepreneurs expecting price increases fluctuated within the range of 18–27%, reaching a peak in April and the lowest levels in September and December. The highest price expectations were observed among enterprises in agriculture and construction, reflecting sector-specific cost structures as well as the impact of seasonal and weather-related factors.

At the same time, assessments of market conditions remained relatively strong. On average, 66% of entrepreneurs expected an increase in demand for goods and services, while 57% of companies planned to expand their workforce. Overall, the results indicate the persistence of positive expectations regarding business activity and employment, alongside more restrained assessments of price dynamics.

Assessments of Demand and Employment

The Employment Index in 2025 amounted to 43 points, corresponding to a 12% increase. The most significant growth was recorded in the services sector at 14%, construction at 17%, industry at 7%, and agriculture at 11%. Throughout the year, employment dynamics remained moderate, with sustained demand for labor.

The Demand Index also showed improvement. Its annual average value reached 48 points, representing an increase of 13%. The largest contribution came from the services sector, where the index increased by 19%, while in construction, industry, and agriculture the Demand Index rose by 6% in each sector. During the year, the index remained relatively stable, with stronger positive assessments in the second half of 2025.

 

Barriers to Entrepreneurial Activity

Over the course of the year, a gradual reduction in barriers to doing business was observed. According to the results, 60% of entrepreneurs reported that they did not face difficulties in conducting business, which is 6% higher than in 2024.

In industry, problems related to electricity supply decreased by 4%, high tax rates by 3%, and access to financing by 3%.

At the same time, in agriculture and construction, financing-related barriers declined significantly, by 7% and 5%, respectively.

Despite the overall reduction in complaints, financing remained the main obstacle cited by entrepreneurs in construction and industry, reported by 11% of respondents in each sector.

Overall, sectoral data indicate an increase in the share of entrepreneurs who do not face significant constraints, as well as a decline in the importance of financial and infrastructure barriers.

The Business Climate Change Indicator is constructed based on the methodology of the Ifo Institute (Germany). As part of the surveys, company managers assess current and expected changes in business activity based on developments in production, demand, prices, and other indicators.

CERR Sector for the Study of Competitiveness of Economic Sectors and Investment Activity
tel.: (78) 150 02 02 (441)

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

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

📅 20.02.2026

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

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

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

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

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

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

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

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

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

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

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

Dunyo IA

Azizbek Urunov: Uzbekistan reserves the right to protect certain sectors of the economy in accordance with WTO agreements

📅 28.01.2026

Today, during a meeting with journalists, Azizbek Urunov, Special Representative of the President of Uzbekistan on WTO issues, answered questions from a correspondent of Dunyo Information Agency:

-How does WTO membership align with the “Uzbekistan - 2030” strategy?

-It fully aligns with it. Uzbekistan’s accession process to the World Trade Organization effectively began in the early days of the large-scale reforms launched under the leadership of President Shavkat Mirziyoyev in 2017. In the initial years, the primary focus was placed on urgent and systemic economic reforms.

These included the liberalization of currency policy, a comprehensive revision of foreign trade policy and a significant reduction and simplification of import tariffs, which helped strengthen competition in the economy and the domestic market.

The active phase of WTO accession negotiations began in 2020. Prior to that, over a period of three to four years, the country deliberately prepared its economy and regulatory framework to meet WTO requirements. A frequently asked question is why the accession process has taken so long, given that Uzbekistan submitted its application back in 1994. Meaningful progress only began after 2020, as before that time the economy and its regulatory mechanisms objectively did not meet WTO standards.

Before 2016, foreign trade was subject to strict regulation. For example, there was a practice of approving a limited list of enterprises authorized to export, particularly in the agricultural sector. The main participants in foreign economic activity were state structures and foreign trade companies affiliated with sectoral ministries.

However, WTO principles are based on equal conditions for all market participants and non-discriminatory access to foreign trade activities. That is why, as part of the reforms, foreign trade policy was comprehensively revised and liberalized. Today, any enterprise has the right to engage in foreign economic activity.

This was not merely an issue of currency convertibility, but rather a set of comprehensive reforms of the entire foreign trade regulatory system, including the elimination of exclusive rights held by state enterprises and the creation of a competitive environment.

I believe it is no secret that the WTO accession process is under the personal oversight of the President of the country. Over the past two to three years, a qualitative breakthrough has been achieved and today Uzbekistan is at the final stage of the negotiation process.

– What long-term national interests does Uzbekistan aim to protect through its accession to the WTO?

As a developing country, Uzbekistan, in accordance with WTO agreements, retains the right to protect certain sectors of the economy in the event of specific difficulties. At the same time, it is important to remember that the fundamental goals of the WTO are to improve the welfare of the population, create jobs and ensure sustainable economic development for member countries.

From a strategic perspective, WTO membership serves two key objectives for Uzbekistan.

The first is exports. Without an active export policy and integration into global value chains, achieving long-term and sustainable economic growth is virtually impossible. Relying solely on the domestic market has inherent limitations. As the domestic market becomes saturated, growth potential diminishes and further development is only possible through expanding presence in foreign markets.

The second objective is investment, primarily quality investment. It is important not only to attract capital but also to ensure its technological, institutional and managerial value. WTO membership sends an international signal that the country’s economy operates under transparent, predictable and investor-friendly rules.

This creates additional conditions for the development of industry and the service sector. Today, about half of Uzbekistan’s GDP is generated by the services sector, indicating its enormous potential for further growth.

Furthermore, Uzbekistan’s geographic location offers significant opportunities. The country is surrounded by dynamically developing markets such as China, the European Union, the Middle East, and India. The active economic development of Saudi Arabia, the UAE, Qatar, Kuwait and other countries generates steady demand for agricultural and industrial products as well as services. This creates favorable conditions for integrating Uzbekistan into global value chains.

– Is it already possible today - at least approximately, in monetary terms - to estimate the total benefit to Uzbek businesses from the removal of tariff regulations within the framework of Uzbekistan’s accession to the World Trade Organization?

– Ten years ago, Uzbekistan’s GDP was around USD 50 billion. By the end of 2025, it had reached approximately USD 147 billion.

Whereas an increase of, say, 5 billion dollars used to represent about 10 percent of GDP, today it accounts for only around 3 percent. Therefore, it is more important to talk not about absolute figures, but about the additional momentum for economic growth.

According to World Bank estimates, WTO membership could provide an additional GDP growth of roughly 17 percent over the next 5–7 years. In the longer term, international studies indicate that developing countries that are WTO members typically achieve an extra 1–1.5 percent GDP growth per year compared with non-member states.

Even a 1 percent additional growth per year, accumulated over 5, 10, or 15 years, can significantly transform a country’s economy.

– What specific instruments and legal mechanisms of WTO rules will work to protect the interests of Uzbekistan and its businesses?

– First and foremost, this concerns the protection of export interests. Today, there are often situations where partners are willing to purchase our raw materials but react negatively to shipments of processed products with high added value. In such cases, discriminatory measures aimed at limiting our exports may be applied.

WTO membership will allow Uzbekistan to challenge such actions in Geneva through the dispute settlement mechanisms and on a bilateral basis, relying on the universal principles of the WTO. This provides protection against unilateral and unjustified trade restrictions.

On the domestic market, the key instruments will be so-called trade remedies - anti-dumping, countervailing and safeguard measures. Currently, draft laws regulating these mechanisms are being developed in Uzbekistan.

The WTO provides developing countries with a longer time frame for applying protective measures: up to eight years and under special conditions - up to ten years. These instruments allow temporary protection for industries under pressure from imports, provided there is evidence of serious economic harm.

Anti-dumping measures are particularly important. Dumping is usually used to push competitors out of the market, followed by the establishment of monopoly prices. WTO legislation allows countries to effectively counteract such practices.

Alongside legislative development, Uzbekistan is preparing national specialists with the support of international experts. Their task is to ensure the competent and professional application of these mechanisms in practice, in the interests of fair competition and the protection of national businesses.

Dunyo IA

Tashkent

Uzbekistan–2030: Why the National Development Strategy Is Being Updated

📅 06.01.2026

Uzbekistan’s 2030 Strategy is the country’s principal framework for medium- and long-term development. It provides strategic direction for public policy, institutional reform, and socio-economic transformation, while embedding principles of continuity, predictability, and long-term planning at the core of state governance. Since its adoption, the strategy has served as a foundational reference point for the reform agenda, shaping what is often referred to as “New Uzbekistan.”

Over recent years, Uzbekistan has made tangible progress across a wide range of areas, including economic modernisation, public administration reform, judicial reform, the expansion of civic space, and the protection of human rights. These reforms have produced measurable results and have contributed to greater openness and institutional capacity. At the same time, the pace of change—both domestically and globally—has continued to accelerate.

Societal expectations are evolving, economic conditions are becoming more complex, technological change is reshaping governance models, and global geopolitical and economic dynamics are introducing new risks and opportunities. Against this backdrop, updating the Uzbekistan–2030 Strategy is a logical and necessary step to ensure that policy planning remains relevant, responsive, and effective.

At the heart of the revised strategy lies a fundamental principle articulated by the President of Uzbekistan: the state must serve the people, not the other way around. In its updated form, the strategy seeks to translate this principle into practical governance outcomes by reinforcing a development model that is results-oriented, accountable, and centred on human well-being.

Every policy decision and reform priority is assessed through the lens of its impact on citizens’ quality of life, social inclusion, and long-term prosperity. This marks a shift away from abstract targets toward a more outcome-driven approach to public policy.

A key element of the strategy’s refinement is a comprehensive review of progress achieved to date. This includes an honest assessment of remaining challenges and structural bottlenecks, as well as recalibrating performance indicators to enable more precise measurement and evaluation. Each strategic objective is linked to clearly designated responsible institutions, while required financial resources are explicitly identified. This strengthens institutional accountability and moves the strategy from a broad vision to an operational roadmap.

Another defining feature of the updated Uzbekistan–2030 Strategy is its emphasis on clarity and relevance for ordinary citizens. The strategy is being shaped so that people can readily understand how national reforms affect their daily lives—how they improve access to services, create economic opportunities, and enhance prospects for future generations. In this sense, the strategy is intended not as a set of slogans, but as a framework for tangible, lived improvements.

The revised strategy also reflects the need for adaptability. Performance benchmarks are being updated to align with new economic realities, social priorities, technological innovation, and international developments. This ensures that public policy remains flexible and able to respond to change, rather than being constrained by static assumptions.

Digitalisation plays a central role in this process. The monitoring and evaluation of strategy implementation are being fully digitised, enabling greater transparency, evidence-based decision-making, and enhanced public oversight. This approach strengthens trust in public institutions and supports more informed policy adjustments.

Equally important is policy coherence. All sectoral, regional, and thematic development plans are being aligned with the Uzbekistan–2030 Strategy to ensure consistency across government actions. This integrated approach reduces fragmentation and enhances the overall effectiveness of state policy.

Public participation is another core principle. The updated strategy is being developed through broad public consultation, incorporating input from citizens, civil society organisations, experts, and the wider public. This reflects the understanding that reforms are most sustainable and credible when they are shaped with society, rather than imposed upon it.

In conclusion, the ongoing refinement of the Uzbekistan–2030 Strategy represents a structured, transparent, and responsible effort to deepen reforms and adapt them to contemporary realities. Above all, it reaffirms a clear priority: national development is not an end in itself, but a means to improve people's lives and well-being. In this sense, Uzbekistan–2030 is being shaped as a genuinely people-centred roadmap for inclusive and sustainable progress.

 

Eldor Tulyakov,

Executive Director, Development Strategy Centre

Issues in the religious and educational sphere were considered

📅 19.06.2024

President Shavkat Mirziyoyev has been informed of the work being done in the spiritual and educational sphere.

The main priority of transformations in multi-ethnic Uzbekistan is the comprehensive protection of the rights and freedoms of all its citizens. And one of the inalienable rights is freedom of religion. Therefore, all conditions are being created in our country so that believers can perform rituals and observe religious traditions.

It is worth emphasizing that the policy of New Uzbekistan in this area is receiving great recognition not only among our people, but also among the international community.

Thus, if in the early years of Uzbekistan's independence the number of compatriots honored with the holy pilgrimage to Mecca and Medina could be counted on fingers, these days more than 15 thousand Uzbeks are performing the sacred rites.

President of Uzbekistan Shavkat Mirziyoyev's greeting to our people on the occasion of Kurban Hayit, his conversation with Chairman of the Muslim Mufti Sheikh Nuriddin Khaliknazar on the pilgrimage of our compatriots have become one of the brightest pages of this year's Hajj season.

In a short period of time, Uzbekistan has created a comprehensive system of training qualified personnel in the religious and educational sphere. In order to study and popularize the rich scientific heritage of our scholars, research centers have been launched. Examples of this are the International Islamic Academy of Uzbekistan, the Mir Arab Higher Madrasa, the School of Hadith Studies, and the international research centers of Imam Bukhari, Imam Termizi, and Imam Moturidi. Large-scale renovation and improvement of Imam Bukhari memorial complex is underway.

During today's meeting it was emphasized the necessity of wider study and propaganda of works of these great thinkers among the population, especially among the youth. Since it is in them that the true meaning of Islam, enlightening ideas of the Muslim religion are laid down. And it is especially actual now, in our troubled time, when all over the world various forces try to distort the essence of religion and to lead young people off the true path.

It was noted a great role in this work and those who now make pilgrimage in sacred Mecca. The pilgrims have recently made an appeal, where they expressed their readiness to contribute to the spiritual education of the younger generation in their districts, in their mahallas.

Also at the meeting, the head of state stressed that an important role in these processes should be played by the Center of Islamic Civilization, the activities of which will serve to widely acquaint our people and foreign guests with the invaluable heritage of ancestors, to promote the ideas of enlightened Islam. At present, scientists-historians and theologians are working on filling the activities of the center with new content.

Information about further plans of the center's activity was heard.

The President of Uzbekistan noted the importance of adopting a long-term program of strategic partnership with FAO

📅 06.09.2024

President of the Republic of Uzbekistan Shavkat Mirziyoyev met with Director General of the Food and Agriculture Organization of the United Nations (FAO) Qiu Dongyu on September 5.

The head of the authoritative branch structure of the United Nations system is in Tashkent within the framework of the ongoing International Forum on Food Security and Sustainable Development Goals for Landlocked Countries.

At the beginning of the meeting, the UN High Representative expressed his deep gratitude to the head of our state for supporting the successful holding of the forum, which is attended by representative delegations from more than 30 countries of the world.

In the course of the conversation, the sides considered issues of further expanding the strategic partnership between Uzbekistan and FAO in effectively responding to contemporary challenges and threats.

The sides noted with satisfaction the fruitful results of practical interaction achieved in recent years. Thus, the qualitative indicators of implementation of the country cooperation program for the period until 2025 have doubled.

There are 34 projects in the active phase of implementation. Over the last year, 7 new projects were launched, including in the field of agriculture, school feeding, veterinary medicine, agrochemistry and other spheres.

The importance of preparation and adoption of a new five-year partnership program was emphasized.

Special attention was paid to promising joint projects and activities in the field of digitalization of the agro-industrial complex, exchange of advanced knowledge and experience, attraction of innovations and investments in improving the fertility of the land fund, cultivation and processing of organic agricultural products, modernization of irrigation systems, creation of modern clusters and logistics centers, research and development.

There was also an exchange of views on the global and regional situation related to food security.

Uzbekistan–Turkiye: From Trade to Expanded Economic Engagement

📅 29.01.2026

Economic cooperation between Uzbekistan and Turkiye is carried out within the framework of signed bilateral agreements and established intergovernmental mechanisms, and is supported by regular high-level contacts. In addition, Uzbekistan and Turkiye cooperate within the framework of the Organization of Turkic States.

In 2023, the President of the Republic of Turkiye paid an official visit to Uzbekistan, during which the Uzbekistan–Turkiye Business Forum was held. As a result of the visit, a substantial package of intergovernmental and commercial agreements was signed, covering key sectors of the economy with a total value of around $10 bn.

In June 2024, the President of the Republic of Uzbekistan paid an official visit to Turkiye. During the visit, a meeting of the High-Level Strategic Cooperation Council was held, resulting in the signing of an important package of agreements, protocols, and roadmaps aimed at further expanding trade, economic, and investment cooperation.

Mutual trade between Uzbekistan and Turkiye operates under a most-favoured-nation regime, and a Preferential Trade Agreement has also been signed.

Turkiye is among Uzbekistan’s leading trade and economic partners, ranking 4th in terms of total trade turnover and imports, and 5th in terms of Uzbekistan’s exports.

In 2025, Turkiye’s share in Uzbekistan’s foreign trade turnover amounted to 3.7%, including 3.4% of exports and 4.0% of imports.

Dynamics of Bilateral Trade

Over the period 2017–2025, bilateral trade between the two countries increased by 1.9 times and reached $3.0 bn by the end of 2025. Exports to Turkiye grew by 1.3 times to $1.1 bn, while imports from Turkiye increased by 2.8 times to $1.9 bn.

At the same time, annual growth rates of imports from Turkiye consistently exceeded export growth rates, resulting in a widening trade deficit to –$751.6 mn.

Uzbekistan’s exports to Turkiye in 2025 comprised the following categories: industrial goods (copper products, yarn, etc.) amounting to $511.4 mn (45%); miscellaneous manufactured articles (mainly precious metal products) at $152.3 mn (13.4%); chemical products (polymers, fertilizers, etc.) at $124.3 mn (11%); machinery and transport equipment at $80.1 mn (7%); food products (dried fruits and nuts) at $63.0 mn (5.5%); petroleum products (gasoline, gas oil) at $36.6 mn (3.2%); non-food raw materials at $18.0 mn (1.6%); as well as services, primarily transport services, at $149.9 mn (13.2%).

Imports from Turkiye in 2025 were dominated by the following categories: machinery and transport equipment at $674.6 mn (35.7%); chemical products at $408.9 mn (21.7%); industrial goods at $390.2 mn (20.7%); miscellaneous manufactured articles at $136.2 mn (7.2%); food products at $94.6 mn (5.0%); petroleum products (lubricating oils) at $30.2 mn (1.6%); non-food raw materials at $30.1 mn (1.6%); and services at $117.4 mn (6.2%).

Investment Cooperation

The two countries have signed an Agreement on the Promotion and Reciprocal Protection of Investments. As of 1 January 2026, 2,137 enterprises with Turkish capital operate in Uzbekistan, accounting for 11.8% of all active enterprises with foreign investment. Of these, 496 are joint ventures and 1,641 are wholly owned by Turkish investors.

Total direct investments and loans from Turkiye to Uzbekistan’s economy over 2017–2025 amounted to $9.0 bn, including $2.6 bn attracted in 2025 alone.

Turkish capital continues to expand its presence in Uzbekistan, primarily in priority sectors such as energy, manufacturing, agriculture, and construction.

In particular, investments in the power sector are linked to the construction by the Turkish company Cengiz Enerji of a 240 MW thermal power plant in Tashkent Region and a similar 220 MW plant in Syrdarya Region.

Prospective Areas of Economic Cooperation

An analysis of Turkiye’s import structure indicates opportunities to increase Uzbekistan’s exports to Turkiye, particularly in product categories that Uzbekistan already supplies to global markets. These include polymers (Turkiye’s imports amounting to $2.8 bn), copper wire ($1.4 bn), fertilizers ($1.1 bn), legumes ($1.0 bn), zinc ($857 mn), copper tubes ($360 mn), textile products, particularly T-shirts and undershirts ($373 mn), knitted fabrics ($158 mn) and other manufactured goods.

Promising areas for cooperative engagement between Uzbekistan and Turkiye include manufacturing industries – especially textiles, electrical engineering, and machinery – chemical industry, agriculture, healthcare, education, as well as projects aimed at preserving and promoting cultural heritage. There are also prospects for joint infrastructure projects, including the construction of water treatment facilities.

In agriculture, particular attention is paid to the selection and cultivation of domestic pistachio varieties and the development of pistachio farming. Agreements have been reached on implementing joint research projects focused on cultivation techniques and adaptation.

A significant emphasis is placed on expanding cooperation in education, including the involvement of Turkish lecturers and specialized professionals in educational initiatives in Uzbekistan, experience exchange, and human capital development.

At the same time, areas of cooperation in healthcare are being discussed, focusing on the development of primary healthcare, the introduction of medical insurance systems, sector digitalization, improvement of service quality, and modernization of the pharmaceutical industry.

Tourism has been identified as a separate and promising area of cooperation. Currently, 12 hotels in Uzbekistan operate with the participation of Turkish partners, along with more than 100 joint restaurants, reflecting sustained interest by Turkish businesses in the country’s tourism sector.

In 2025–2026, with the support of Turkish investors, 11 hotel projects with a total value of $167.9 mn are planned in Bukhara, Samarkand, Jizzakh, Fergana, and Tashkent regions.

Transport connectivity is also expanding significantly. The number of weekly flights between Uzbekistan and Turkiye has increased from 62 in 2023 to 106 at present, creating additional conditions for the growth of mutual tourist flows and the expansion of travel routes.

A key initiative in tourism is the “Million + Million” programme, aimed at attracting at least one million tourists to each country. The programme envisages a further increase in flight frequency and the expansion of tourist routes between Uzbekistan and Turkiye.

Conclusion

In recent years, there has been steady growth in bilateral trade, investment volumes, the number of enterprises with Turkish capital, and the breadth of economic cooperation.

At the same time, Uzbekistan’s exports to Turkiye are still dominated by raw materials and intermediate goods used in Turkiye’s industrial sectors. Against this background, the key task for the coming years is to move from a “raw materials–finished goods” trade model toward the formation of joint production chains with higher value added.

In this context, Turkiye can play a role for Uzbekistan not only as one of its principal trading partners, but also as a contributor to Uzbekistan’s industrial development and to the expansion of its participation in global value chains.

Edvard Romanov
Center for Economic Research and Reforms

Environmental protection in Uzbekistan is an integral part of the sustainable development strategy and the country’s contribution to solving global problems

📅 05.07.2024

Uzbekistan, located in the heart of Central Asia, faces unique environmental challenges that require an integrated approach and strategic planning. In recent years, the country has been taking active steps to protect the environment by integrating sustainable development into national programs and projects. These efforts are not only aimed at improving the environmental situation in the country, but also make a significant contribution to solving global problems. Uzbekistan actively participates in global initiatives to combat climate change. The country ratified the Paris Agreement in 2016, committing to reducing greenhouse gas emissions and adapting to climate change.

Environmental policy issues play a key role on the agenda of the New Uzbekistan. Measures to transform the sphere of ecology and environmental protection to improve the activities of our ministry, actions to combat climate change and its consequences, a moratorium on tree cutting, the introduction of clean “green” energy, solid waste management, the development of “green” transport infrastructure, expansion networks of protected natural areas, measures to restore ecosystems and preserve biodiversity, combat desertification and drought, unify environmental legislation in accordance with international standards, supporting the introduction of modern information technologies, show positive trends.

One of the key aspects of Uzbekistan’s environmental strategy is the development of a “green economy”. The state program “Green Economy” for 2019-2030 is aimed at reducing the carbon footprint, increasing energy efficiency and developing renewable energy sources (RES).

Moreover, the government of Uzbekistan has set ambitious goals to increase the share of renewable energy sources in the country’s overall energy balance. As part of the Development Strategy “Uzbekistan - 2030” and subsequent plans. As President of Uzbekistan Shavkat Mirziyoyev stated at the third Tashkent International Investment Forum held in early may this year, our country strives to create more than 20 gigawatts of renewable energy capacity by 2030 and increase its share in the energy sector. balance up to 40 percent. These goals include the construction of new solar and wind power plants, as well as the modernization of existing energy infrastructure.

In 2019, the law “On Renewable Energy Sources” was adopted, which creates a legal basis for the development of the green energy sector. The law provides benefits and preferences for investors, which stimulates the attraction of both domestic and foreign investment.

The development of “green energy” in Uzbekistan is actively supported by international organizations and financial institutions. Cooperation with the International Renewable Energy Agency (IRENA), the World Bank, the Asian Development Bank and other structures plays an important role. Investments and technical support from these organizations contribute to the rapid implementation of innovative technologies and best practices in the field of renewable energy sources.

Just last year, together with the strategic partners of Uzbekistan - the companies Masdar, Gezhouba, China Energy”, large wind and solar power plants with a capacity of 1.4 gigawatts were launched. Also, together with ACWA Power, we began implementing a project for the production of “green” hydrogen.

Currently, work is underway on the implementation of 28 eight projects in this direction. It is noteworthy that these important projects are carried out exclusively through foreign direct investment on the basis of public-private partnerships.

Achieving global sustainable development goals is no less important for the country.

In Uzbekistan, in 2022, an updated Resolution of the Cabinet of Ministers “On additional measures to accelerate the implementation of National Goals and Objectives in the field of sustainable development for the period up to 2030” was adopted, which confirms Uzbekistan’s strong determination in achieving the global Agenda for the period up to 2030 year in a comprehensive partnership with all UN member countries to achieve sixteen national sustainable development goals.

The National Goals and Objectives in the field of sustainable development for the period until 2030, the Plan of Measures for the effective implementation of the National Goals and Objectives in the field of sustainable development for the period 2022–2026, as well as the National Development Strategies of Uzbekistan, approved by the Government of our country, serve the implementation of the Goals of Sustainable Development development.

The achieved results in implementing the national goals and objectives of Uzbekistan are generally approved and recognized by the international community.

The basic principle of the new Uzbekistan “In the name of the honor and dignity of man” is consonant with the UN principle on sustainable development “Leave no one behind”.

In the Interagency Ranking of Sustainable Development Goals published by the UN (SDR) in 2023, Uzbekistan took 69th place among 166 countries, increasing its ranking by 8 points.

The Voluntary National Reviews prepared in 2020 and 2023 on the implementation of the national Goals and objectives of sustainable development of Uzbekistan until 2023 were positively assessed by the UN.

Uzbekistan has achieved significant results on all Sustainable Development Goals, which were balanced and interconnected with the implementation of the “Strategy of Action for Five Priority Areas of Development of the Republic of Uzbekistan in 2017 - 2021”

An analysis of the current state of protected natural areas in Uzbekistan and current trends in this area shows that in recent years the number and area of protected natural areas in the country have been increasing. Reforms are being carried out in the forestry sector, as a result of which the amount of forest land in the country has noticeably increased.

In this context, the initiative of President Shavkat Mirziyoyev “Yashil makon” (“Green space”) has become a truly national project. The forest area in relation to the total land area of Uzbekistan has increased over 7 years from 8.3% to 8.7%. The share of protected areas increased 2.0 times.

Uzbekistan actively participates in international mechanisms for environmental protection and human development. Various initiatives are being implemented to preserve biodiversity, restore ecosystems in the Aral Sea region, protect the ozone layer and mitigate the effects of climate change, and waste management. There are also policies and programs aimed at ensuring people's access to healthy food and clean water. Uzbekistan cooperates with the European Union, its institutional bodies for environmental protection and sustainable development, as well as with individual states such as Germany, Finland, Turkey, and South Korea.

The country is a party to 14 international conventions, as well as more than 20 protocols, agreements and memoranda of understanding in the field of environmental protection and sustainable development.

Uzbekistan regularly takes an active part in the annual meetings of the UN Framework Convention on Climate Change. During the 27th meeting, held in 2022, the Uzbek delegation advocated consolidating efforts to achieve carbon neutrality, promoting renewable energy sources, climate change adaptation projects, combating desertification and land degradation, introducing water-saving technologies and other climate actions in Central Asia.

Another significant aspect was that the UN supported the initiative of President Shavkat Mirziyoyev to hold the first International Climate Forum in Samarkand in 2024, dedicated to climate change issues, which provides for a discussion of opportunities for international cooperation to reduce risks and threats in the Central Asian region and issues of attracting climate finance . During the 78th session of the UN General Assembly in September of this year. In New York, the President of Uzbekistan took the initiative to adopt the UN General Assembly resolution «Central Asia in the face of global climate threats: solidarity for common prosperity» and proposed discussing its main provisions at the Samarkand Forum.

Cooperation with the countries of Central Asia is critically important to address the many environmental challenges facing the region. Cooperation in this area contributes not only to improving the environmental situation, but also to strengthening regional stability and sustainable development.

Another significant aspect was that the UN supported the initiative of President Shavkat Mirziyoyev to hold the first International Climate Forum in Samarkand in 2024, dedicated to climate change issues, which provides for a discussion of opportunities for international cooperation to reduce risks and threats in the Central Asian region and issues of attracting climate finance . During the 78th session of the UN General Assembly in September of this year. In New York, the President of Uzbekistan took the initiative to adopt the UN General Assembly resolution “Central Asia in the face of global climate threats: solidarity for common prosperity” and proposed discussing its main provisions at the Samarkand Forum.

One of the most significant areas of cooperation between Uzbekistan and neighboring countries is water resources management. The transboundary rivers Amudarya and Syrdarya are vital for all countries in the region. Uzbekistan actively participates in international forums and initiatives aimed at the rational use of water resources and conflict prevention. Joint projects with Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan include modernizing irrigation systems, introducing water-saving technologies and improving water basin management.

The problem of the drying up of the Aral Sea is one of the most acute environmental disasters in the region. The Aral Sea region is of international importance. In the second half of the 20th century, the state of the Aral Sea entered a phase of instability. This period, caused by anthropogenic impact, is characterized by a decrease in the volume and flow of water, an increase in salinity, a decrease in fish biodiversity and other negative processes. The shrinking Aral Sea has a significant impact on the ecosystems of all neighboring countries, its critical situation extends directly to Turkmenistan, Kazakhstan and Uzbekistan, in particular to the Republic of Karakalpakstan, Khorezm, Bukhara and Navoi regions, and indirectly to Tajikistan and Kyrgyzstan.

Restoring the Aral Sea requires joint efforts of all coastal states. Uzbekistan actively cooperates with Kazakhstan within the framework of the International Fund for Saving the Aral Sea (IFAS), implementing projects on reforestation, improving water supply and combating dust storms. These measures not only help improve the environmental situation, but also help mitigate the socio-economic consequences of an environmental disaster.

Desertification and land degradation are a serious problem for the countries of Central Asia. Uzbekistan is actively participating in regional projects aimed at combating these phenomena. Collaborative efforts include planting shelterbelts, restoring pastures, improving land management and introducing sustainable agricultural practices. Cooperation with Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan allows for the exchange of best practices and technologies, which contributes to the effective fight against desertification.

Positive trends include the adoption of measures to increase the area of green space, a reduction in areas allocated for cotton and an increase in areas for growing vegetables, grains, fruits and fodder crops, as well as an increase in government support for the introduction of water-saving irrigation technologies.

Cooperation in the field of environmental education and knowledge exchange plays an important role in solving environmental problems in the region. Uzbekistan, together with neighboring countries, is implementing programs to increase environmental awareness of the population, train specialists and conduct joint research. This includes organizing conferences, seminars, training programs and exchanges of students and scientists. Such interaction contributes to the formation of a sustainable environmental culture and the training of qualified personnel to solve environmental problems.

Cooperation between Uzbekistan and the countries of Central Asia in the field of environmental protection is a key element of the regional sustainable development policy. Joint efforts to manage water resources, restore the Aral Sea, develop renewable energy sources, combat desertification and environmental education contribute not only to improving the environmental situation, but also to strengthening regional stability and prosperity. Uzbekistan continues to actively participate in international and regional initiatives aimed at solving common environmental problems, demonstrating its commitment to the principles of sustainable development and international cooperation.

In general, environmental protection in Uzbekistan is an integral part of the country’s sustainable development strategy. The measures taken to develop a green economy, combat climate change, protect water resources and promote sustainable agriculture not only improve the environmental situation in the country, but also make a significant contribution to solving global environmental problems. Uzbekistan demonstrates that an integrated and strategic approach to environmental protection can lead to a sustainable future, both nationally and globally.

Festive greetings to the youth of Uzbekistan

📅 30.06.2024

Sincerely, from the bottom of my heart, I congratulate you on this wonderful holiday celebrated in our country - Youth Day.

We rely on all our people, including you - courageous and purposeful young men and women - to achieve the lofty goals of building a new Uzbekistan. Therefore, ensuring the rights and interests of young people, raising the younger generation as harmoniously developed individuals is in the center of our attention as one of the priority directions of the state policy.

In recent years, our country has created a unique vertical management system in work with young people. It makes it possible to solve many issues of youth related to training, employment, meaningful leisure and social support through youth leaders - representatives of the President in the mahallas - at the lower level.

Our young men and women are experiencing in their lives the real results of the large-scale work carried out on the basis of the "Youth Notebook" and the "Youth Balance" platform.

Thanks to the introduction of a new system that promotes the increase of youth income through allocation of land plots, this year alone, based on the recommendations of the "Makhalla Seven" 156 thousand young men and girls were given 60 thousand hectares of land on lease for a period of 30 years, which was an important step in this direction.

All of us, undoubtedly, are happy that young people effectively use the created opportunities and achieve great success in different spheres. At the prestigious international Olympiads in mathematics, chemistry, biology, physics and informatics in the past academic year alone, 55 of our schoolchildren won 8 gold, 15 silver, 32 bronze medals, 383 were awarded the Grand Prix and 1,359 were awarded 1st place in prestigious international competitions in the field of culture and art.

We experienced great joy and pride when at the recent Asian Football Cup in Qatar, Uzbekistan's Olympic team won a ticket to the Olympics for the first time in the country's history.

Such are our talented, educated and courageous young people! These young men and women are worthy representatives of the New Uzbekistan, our priceless wealth and golden fund.

My dear young friends!

The colossal work carried out in Uzbekistan in the field of youth policy is now being recognized in the global arena. Thus, last year, according to the Youth Development Index, Uzbekistan was recognized as one of the fastest developing countries in the field of youth policy. Also, Uzbekistan was included by the UN among 10 countries of the world on the exemplary realization of the "Youth Strategy - 2030". In 2022 the city of Bukhara was declared the Youth Capital of the Turkic World, and in 2024 our city of Tashkent became the first youth capital of the Commonwealth of Independent States.

It will be right to say that the World Youth Festival, which is taking place in our country for the first time these days, is another vivid confirmation of Uzbekistan's high recognition. More than 700 young men and women from 92 countries, heads and officials of more than 20 authoritative international organizations, ministries and departments of foreign countries are taking part in this forum. Most importantly, our youth are gaining more and more friends and partners around the world, their opportunities in gaining knowledge and professions, participating in global dialog and cooperation are expanding.

Dear young men and women!

A nation and state in which children are talented, educated, confident in their abilities and potential, eager to learn new things, will undoubtedly have a wonderful future. We will mobilize all our capabilities to nurture such youth of Uzbekistan.

Always remember, if you cherish your every moment, live with creativity and creation, love your Motherland without limits, you will surely reach high milestones.

I once again congratulate you all on today's holiday, wish you health, happiness and success on the way to your goals.

Uzbekistan – OTS: Cooperation on the Path of Sustainable Development and Progress

📅 08.10.2025

President of Uzbekistan Shavkat Mirziyoyev arrived in the Azerbaijani city of Gabala to participate in the summit of the Organization of Turkic States (OTS).

 

Due to its geographical position, historical ties, and natural resources, the Organization of Turkic States is becoming an increasingly significant platform for cooperation at this new stage of development. At the same time, OTS serves as a cultural bridge, fostering closer ties between the peoples of its member countries.

The Organization is based on the principles of equality and mutual interest, non-interference in internal affairs, and respect for the sovereignty of states - principles widely recognized by the international community.

The OTS comprises five member states: Azerbaijan, Kazakhstan, Kyrgyzstan, Turkiye, and Uzbekistan. Hungary, Turkmenistan, and the Economic Cooperation Organization hold observer status.

The current name of the Organization was introduced on November 12, 2021, at the initiative of the President of Uzbekistan. Previously, it was known as the Cooperation Council of Turkic Speaking States.

The primary goal of the OTS is to strengthen trust and multifaceted ties among the brotherly nations, to promote cooperation in trade, economy, energy, transport, tourism, cultural and humanitarian spheres, and to coordinate efforts to ensure peace and security in the region.

The conceptual foundation for achieving these objectives is the “Turkic Vision – 2040” program, adopted following the Eighth Summit of Heads of State held in Istanbul in November 2021.

For Uzbekistan, which joined the Organization in 2019, participation has become an important step not only in strengthening economic and political ties but also in preserving and developing the shared cultural identity of the Turkic world.

Uzbekistan chaired the OTS in 2022–2023, beginning with the Samarkand Summit in November 2022 under the motto “A New Era of Turkic Civilization: Towards Common Development and Prosperity”.

During its chairmanship, more than 100 events were held, and new platforms for practical cooperation were created. Uzbekistan pursued an open, inclusive, and diverse model of interaction, embracing various regions and civilizations.

The adoption of the “OTS Strategy for 2022–2026” at the Samarkand Summit became a major milestone. This document marked the first roadmap for the implementation of the “Turkic Vision – 2040” concept.

President Shavkat Mirziyoyev has actively participated in OTS summits since Uzbekistan joined the Organization. In particular, he took part in the meetings of the Council of Heads of State on November 6, 2024, in Bishkek and May 21, 2025, in Budapest.

These meetings focused on the current state and future prospects of multilateral cooperation, as well as key issues of practical partnership.

In his address at the informal summit in Budapest, the President emphasized the complexity of today’s geopolitical and geo-economic situation, the intensification of regional conflicts, and the impact of climate change.

He stressed the importance of resolving international issues based on international law and the UN Charter, and the need for common positions and coordinated approaches among member states.

Speaking about the development of practical cooperation within the OTS, the President noted the enormous untapped potential and put forward several new initiatives.

Particular importance is attached to Uzbekistan’s proposal to sign a Treaty on Strategic Partnership, Eternal Friendship, and Brotherhood among the Turkic States, which would represent a significant step toward deeper unity and the creation of a long-term legal foundation for multilateral cooperation.

“Last year, we proposed developing a treaty on strategic partnership, eternal friendship, and brotherhood among the Turkic states. Today, the significance of this document is growing. Undoubtedly, it will promote further unity among our peoples and solidify the long-term legal framework for multilateral cooperation. I propose signing this document at the summit in Baku”, - the President stated.

Since 2019, President Shavkat Mirziyoyev has put forward 98 practical initiatives at OTS summits aimed at advancing multilateral cooperation. More than 70 have already been implemented, and about 30 are in the process of realization.

For Uzbekistan, the main priority within the OTS is the economy. The country is currently focused on boosting exports, attracting investment, creating jobs, addressing unemployment, and reducing poverty. All these goals are closely tied to global economic integration, where the OTS format can support further coordination and development of production chains.

The total area of the OTS member states is approximately 4.2 million square kilometers, with a combined population of over 170 million - representing vast opportunities and a substantial market.

Under existing agreements, the OTS is viewed as an effective mechanism for regional cooperation with great integrative potential. Trade and economic indicators between member states are growing every year.

Today, OTS countries collectively rank third - after China and Russia - among Uzbekistan’s external trade partners. In 2024, mutual trade volume reached nearly $10 billion, accounting for about 15% of the country's total foreign trade.

Trade relations with Kazakhstan - Uzbekistan’s largest trade partner within the OTS - and Turkiye - the second largest - are showing particularly strong growth. By the end of 2024, trade turnover with Kazakhstan reached $4.28 billion, and with Turkiye, $2.9 billion.

Trade with Azerbaijan also continues to show positive dynamics. Notably, mutual trade volumes with OTS partners are setting new records each year.

Uzbekistan’s key exports to OTS markets include textiles, electrical products, automobiles, fruits and vegetables, and non-ferrous metals. Imports from OTS countries consist of rolled metal, aluminum, mechanical tools, construction materials, petroleum products, and a significant portion of grain and other food items.

To maintain and accelerate this positive trend, it is crucial to implement President Shavkat Mirziyoyev’s initiatives, including the creation of the “TURK-TRADE” online platform to facilitate and speed up trade operations, and the adoption of a Program of Practical Measures to Expand Trade aimed at increasing mutual trade volumes.

Industrial cooperation is also a vital area. Uzbekistan is actively supporting the development of this sector and promoting the establishment of new enterprises with capital from OTS countries. This year, the number of such enterprises is expected to reach approximately 4 thousand, representing a 60% increase compared to 2019. Their share in the total number of foreign-capital enterprises in Uzbekistan is projected to reach approximately 20%.

Transport cooperation is receiving special attention. OTS countries are steadily increasing their role in global transit. In 2024, freight traffic through the Middle Corridor reached 4.5 million tons - almost six times more than in 2020. This growth underscores the strategic importance of infrastructure projects like the China–Kyrgyzstan–Uzbekistan railway.

Member countries are also working to ensure secure and reliable transport and energy corridors across the Caucasus and Central Asia. These efforts not only facilitate trade expansion but also contribute to economic independence and regional prosperity.

Uzbekistan is actively involved in cultural and historical heritage preservation and promotion. In education, the country supports student and scholar exchange programs, strengthens cooperation between universities and research centers of Turkic states, and promotes joint academic initiatives and knowledge-sharing platforms. Key areas of Uzbekistan’s proposals also include projects in energy and environmental protection.

In conclusion, President Shavkat Mirziyoyev's participation in the OTS summit in Azerbaijan will be another important step in advancing forward-looking initiatives for the development of the Turkic world and strengthening peace and stability in the region. This visit will also serve as a new impetus for the consolidation of unity and the enhancement of the well-being of the peoples of the Turkic states.

 

 

“Dunyo” IA

The Year Began with Sustained Growth in Business Activity Across Uzbekistan’s Regions – CERR

📅 20.02.2026

Comprehensive monitoring of key business activity indicators across the regions of Uzbekistan shows growth across all major metrics.

According to оперативные данные from the Tax and Customs Committees, the Central Bank, and the Uzbek Republican Commodity Exchange, the Center for Economic Research and Reforms conducts ongoing monitoring of regional business activity in the Republic of Uzbekistan.

As of January this year, tax revenues demonstrated stable positive dynamics, increasing by 39.2% compared to the same period last year.

The most notable increase in revenues was recorded in the Syrdarya, Navoi, Khorezm, and Kashkadarya regions, where growth rates averaged approximately 49%.

Personal income tax revenues increased by 15.1%, property tax revenues by 19.6%, and land tax revenues by 20.3%.

Customs payments grew by 19.8% year-on-year. The highest growth rates were observed in the Navoi, Jizzakh, and Namangan regions, averaging approximately 67%.

Stable positive dynamics were also recorded in the Samarkand region and the Republic of Karakalpakstan, where revenues increased on average by 31%.

According to the analysis of foreign economic indicators, exports of goods increased by 19.5%. The most significant growth in export deliveries was observed in the Tashkent and Navoi regions, increasing on average by 47%.

At the same time, a notable expansion in lending activity was recorded. During the reporting period, the volume of loans issued by commercial banks increased by 2.7%. The highest growth was observed in the Samarkand, Bukhara, and Khorezm regions, averaging approximately 58%.

The active development of the private sector is confirmed by a significant increase in the number of newly registered business entities. In January 2026, a total of 7,116 new enterprises were registered. The largest number of new business entities was recorded in the city of Tashkent (1,712). Among the regions, the leaders were Tashkent region (735), Samarkand region (610), and Khorezm region (550).

The volume of transactions on the Uzbek Republican Commodity Exchange increased 1.8 times. Growth in exchange activity was recorded in most regions of the country, particularly in the Syrdarya region, where activity increased 11.1 times. In addition, growth was observed in the Khorezm, Surkhandarya, Bukhara, Jizzakh, and Kashkadarya regions, averaging 6.5 times.

Sultonmurod Ozodov,

Center for Economic Research and Reforms

UN Secretary-General to visit Uzbekistan

📅 30.06.2024

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)