President of the Republic of Uzbekistan Shavkat Mirziyoyev met with World Bank Vice President for Europe and Central Asia Antonella Bassani on September 30.

The sides discussed topical issues of further expansion of strategic cooperation with the World Bank Group and support of this leading international financial institution to the ongoing reform program in New Uzbekistan.

At the beginning of the meeting, Vice President Antonella Bassani conveyed to the head of our state sincere greetings and best wishes of World Bank President Ajay Bangui.

During the conversation, the current high level and fruitful nature of bilateral cooperation were noted with deep satisfaction.

In recent years, our country has become one of the largest partners of the Bank - the portfolio of projects has increased several times and now exceeds 12 billion dollars.

The World Bank is supporting the implementation of important reforms aimed at ensuring the sustainability of economic and social sectors. The Bank's regional office in Tashkent has been operating since July this year.

Such areas as poverty reduction, transformation of state-owned enterprises and banks, decarbonization, support for WTO accession and others have been identified as priorities for further expansion of the partnership.

Special attention was paid to the programs of urbanization and integrated development of regions, modernization of energy and irrigation infrastructure, support to the private sector.

There was also an exchange of views on the promotion of regional projects.

Navruz is considered one of the ancient and widely celebrated traditional holidays, embodying values such as humanity, kindness, generosity and diligence.

This holiday holds a significant place in the culture of the peoples of Central Asia, Iran, the Caucasus, the Near East and South Asia, reflecting the continuity of centuries-old civilizational traditions.

According to historical sources, the tradition of Navruz dates back at least three thousand years. Detailed information on this subject was provided by Abu Rayhan Beruni in his work “The Remaining Signs of Past Ages” (Athar al-Baqiya).

Navruz is closely linked to the calendar systems of ancient Iranian and Turkic peoples and is celebrated during the vernal equinox. The origins of Navruz are directly connected to astronomical events: during the equinox, the Sun moves along the ecliptic and enters the sign of Aries, making day and night equal in length. Ancient peoples interpreted this natural phenomenon as the beginning of a new year. Consequently, since antiquity, Navruz has been regarded as a symbol of nature's awakening, fertility and the renewal of life.

Today, Navruz is recognized as a cultural tradition celebrated across a vast geographical area. The holiday is observed in various forms in countries such as Uzbekistan, Iran, Afghanistan, Azerbaijan, Tajikistan, Kazakhstan, Kyrgyzstan, Türkiye, India and Pakistan. Its shared core philosophy is centered on harmony with nature, fostering friendship between people and strengthening unity within society.

The international significance of Navruz has received special recognition. In 2009, UNESCO inscribed Navruz on the Representative List of the Intangible Cultural Heritage of Humanity. Subsequently, the United Nations General Assembly proclaimed March 21 as International Nowruz Day, highlighting the holiday's role in strengthening cultural ties and mutual respect among nations.

The traditional festive table (dasturkhon) plays a central role in Navruz ceremonies. Various dishes prepared from spring bounties, including Uzbek national specialties such as kuk somsa (green somsa), kuk chuchvara (herb dumplings), halim and sumalak, are considered symbolic elements of the holiday. In particular, ceremony of preparing sumalak represents a centuries-old communal tradition. Made from wheat sprouts, this dish is interpreted as a symbol of abundance and prosperity.

Historical sources record that ceremonies associated with sumalak were held in the form of ancient communal festivities. Some researchers note that these traditions continued through the Middle Ages. In particular, historical records from the Timurid era contain information about spring festivals and public celebrations. These ceremonies were often organized in open fields, gardens, or city centers, featuring various traditional folk games.

Another ancient tradition associated with Navruz is the spring festival. Events such as the Tulip Festival (Lola Sayli) or the Red Flower Festival (Guli Surkh Sayli) are dedicated to celebrating the awakening of nature. These festivities were primarily held in mountain and foothill regions, evolving as ceremonies linked to the blooming of spring flowers.

Cultural scholars explain the significance of Navruz in society through several key aspects. First and foremost, it ensures the continuity of centuries-old traditions and values. Secondly, the holiday strengthens social virtues such as collectivism, generosity, and tolerance. Thirdly, Navruz serves as an important platform for promoting cultural dialogue and mutual understanding among diverse peoples.

From this perspective, Navruz is regarded not only as a spring holiday but as a unique cultural phenomenon shaped throughout the history of human civilization. Its ancient customs, ceremonies and symbolic meaning continue to play a vital role today in strengthening social harmony, preserving historical heritage, and passing it on to future generations.

Dunyo IA

Uzbekistan’s total external debt amounted to $75.4 billion as of October 1, 2025.

According to the Ministry of Investment, Industry and Trade of Uzbekistan (MIIT), $37.4 billion of this amount accounts for the government’s external debt.

It is important to note that the issue of investment and external financing always attracts interest and raises questions. This is natural, as society wants to understand where resources come from and what results the country achieves.

The key principle here is simple: the purpose of attracting investment and resources is to improve living standards. This is not about “impressive reports” or “eye-catching figures,” but about tangible improvements felt in everyday life-jobs and household incomes, infrastructure, access to clean water, energy and transport, and quality social services.

The economic logic is also clear: for the economy to grow faster, resources are needed- capital, technology, equipment, and new markets. If a country stops attracting resources, growth slows down: fewer jobs are created, it becomes harder to modernize logistical and social infrastructure, expand water supply, and ensure affordable energy.

Therefore, Uzbekistan is consistently working to attract investments - to accelerate economic development, boost GDP, and ultimately improve both the quality and longevity of life. Notably, since 2020, life expectancy has shown steady growth - from 73.4 years to 75.1 years in 2024.

At the same time, what matters to people are not slogans, but measurable results - changes that can be seen and assessed.

By structure, Uzbekistan’s total external debt as of October 1, 2025, amounted to $75.4 billion. Of this, $37.4 billion is government external debt, while the remaining $38 billion consists of borrowings by private and state-owned enterprises without a government guarantee (corporate debt).

Notably, according to international classifications, Uzbekistan’s government debt level is regarded as moderate and manageable. The government’s external debt of $37.6 billion amounts to roughly 26% of GDP (with official GDP around $145 billion), well below the threshold levels that are generally seen as potentially risky for macroeconomic stability worldwide.

What has been achieved through government borrowings in 2017-2025:

• Reconstructed 1,564 km of highways
• Electrified 470 km of railway lines
• Built 6,793 km of drinking water networks and 664 km of sewage networks
• Constructed 59 km of heat pipelines, 1,286 individual heating units, 166 water distribution facilities, and 31 sewage pumping stations
• Created 2,737 MW of additional electricity capacity and laid 1,106 km of high-voltage power lines
• Commissioned additional generation of 2,084 MW, producing 16,423 million kWh of electricity and 551.8 thousand Gcal of thermal energy

Modernization of Transport and Urban Services:

• Purchased 4 Boeing 787-8 aircraft
• Acquired 2 high-speed Talgo-250 passenger trains
• Added 30 electric locomotives
• For the subway system: 70 cars and 29 train sets
• 1,900 buses
• 1,000 ambulances
• 541 units of equipment for household waste collection
• 13 heat boilers

Education and Social Sector:

• Established 119 educational and research laboratories in 60 universities
• Equipped 6,213 state preschool institutions with furniture, learning materials, and office equipment

Agriculture and Water Management:

• Restored 1,593.1 km of canals
• Modernized 3,396 hydraulic structures
• Drilled 423 vertical wells
• Established modern greenhouses on 2.2 thousand hectares and intensive orchards on 12.6 thousand hectares
• Built cold storage facilities with a capacity of 334.9 thousand tons
• Launched processing enterprises with a capacity of 258.2 thousand tons of products
• Created farms for 12.3 million poultry, 5,752 sheep, and 26.3 thousand cattle

These figures reflect already utilized borrowings. A significant portion of infrastructure and social sector modernization projects is still underway and will continue to deliver benefits as the work is completed.

Overall, as a result of the comprehensive measures implemented during 2017-2025, over 2 million jobs were created, exports increased by 270%, and GDP per capita grew by 418%.

What is fundamentally important is that resources can only be mobilized under strict rules, transparency, and oversight. In his Address to the Oliy Majlis and the people of Uzbekistan, the President highlighted that parliamentarians will oversee the entire project cycle - from selection and competitions to implementation and results. Project statuses, stages, and milestones will be published in real time, ensuring full transparency of competitions, tenders, and the fulfilment of obligations.

Uzbekistan’s approach to investment is clear and straightforward: the country needs resources for growth, while simultaneously ensuring full oversight, transparency, and measurable results for the population. This is exactly how the work is organized - openly, in stages, with clear accountability.

Dunyo IA

Distinguished heads of delegations!

I am sincerely glad to greet you all. I would like to echo the words of gratitude to the President of the Republic of Kazakhstan, H.E. Kassym-Jomart Tokayev, for the warm welcome and excellent organization of our meeting.

I am grateful to the distinguished Federal Chancellor of Germany, H.E. Mr. Olaf Scholz, for his commitment to expanding the multifaceted partnership with the countries of our region.

Our first meeting in Berlin and today's summit reaffirm shared intention to continue an open and constructive dialogue and our focus on achieving concrete practical results.

We are interested in holding regular meetings in this format, with setting up the mechanisms for expert review and implementation of the initiatives put forward.

Distinguished Federal Chancellor!

We highly value Germany's firm and unwavering support for the ongoing democratic transformations and socio-economic reforms in our countries, partnership and integration in Central Asia.

I would like to highlight that our multifaceted relationship has deep historical roots.

In the 18th century, the great composer of the Age of Enlightenment Handel created one of his greatest works – the opera "Tamerlane" – in just 20 days.

The great poet and philosopher Goethe dedicated a number of his famous works to our ancient cities - the centers of civilization.

I would like to mention another historical fact.

At the beginning of the 20th century, a group of talented, progressive young people from Central Asia studied at the leading German universities and subsequently made a great contribution to the promotion of the enlightenment ideas and socio-economic development of our region.

I would like to emphasize that today we see Germany as one of our important partners in achieving national goals of sustainable development.

Let me briefly highlight the profound and fundamental changes that have taken place in Central Asia in recent years.

We have established an open and productive dialogue and are independently addressing many issues related to borders, water, energy, trade and transit.

Recently, the Sixth Meeting of the Heads of State of the region was held here in Astana.

The international stance of the region is strengthening, cooperation with the leading countries via "Central Asia Plus" format is expanding.

The volumes of trade turnover, investment, freight transport and tourist travel by our citizens have increased many-fold.

We are discussing major regional projects in green energy and the development of transport communications.

We are exchanging experience and technologies, creating modern industrial and agricultural enterprises, and introducing financial instruments to stimulate cooperation projects.

Most importantly, we clearly understand that the future of our region, its security and sustainable development depends solely on our political will and efforts.

We sincerely welcome the interest of our European partners, first of all Germany, as the main initiator and driving force behind the promotion of EU strategies and multilateral cooperation programmes with our countries.

We are preparing to hold another summit in Uzbekistan in the format of "Central Asia - European Union" next year, having defined the investment in the future of the region as the main topic of the agenda of the meeting.

Dear colleagues!

Conflicts and wars, the overall global instability and unpredictability, sanctions policy, increased protectionism and many other factors are causing extremely negative impact on our countries and are becoming a serious test to the implementation of national programs and reforms.

Earlier, during our talks in Samarkand, I shared with Chancellor Scholz my high expectations from today’s meeting.

In this regard, I would like to outline our vision of the main directions for developing cooperation with Germany in Central Asia.

First. We highly value the establishment of a strategic regional partnership between Central Asia and Germany, which meets the common interests of maintaining stability, ensuring sustainability and prosperity of the region.

We consider it appropriate to adopt a long-term Concept for the development of our partnership with program activities in priority areas.

In order to develop this document, we propose to consider the possibility of establishing the “Central Asia – Germany” Forum of Analytical Centers. We are ready to hold its first meeting next year in Khiva - one of the region’s historic cities where a large community of German Mennonites used to live.

We also assign an important role to the annual meetings of the heads of the foreign ministries of our countries in preparing the agenda of our summits.

Second. Investment and technological partnership with the leading German companies.

I would like to note that the portfolio of ongoing and promising projects in Uzbekistan with the participation of German companies exceeds 20 billion Euros.

This includes energy, chemical and extractive industries, machine building, textile and food industry, agriculture, transport and logistics, production of construction materials.

The leading German companies, such as Siemens, Linde, BASF, MAN, Claas, Henkel, Knauf and many others are among our partners, which have invested about 6 billion euros into Uzbekistan’s economy in recent years.

Today we will have the opportunity to discuss long-term plans with the representatives of the German business.

In this regard, I have a number of specific proposals:

– developing a "road map" for expanding investment and technological cooperation between the Central Asian countries and Germany;

– participation of the leading German companies and banks in the implementation of joint projects in the special economic and industrial zones being created in the border areas, as well as large infrastructure projects of regional significance;

– launching of a permanent business dialogue platform – “Central Asia-Germany” Council of Investors and Entrepreneurs. We are ready to hold its first meeting next year in Uzbekistan within the Tashkent Investment Forum;

– study of the possibility of adopting a multilateral intergovernmental agreement on promotion and protection of investments.

Third. Partnership in critical raw materials based on the introduction of advanced German knowledge and technologies.

As it was mentioned our region is abundant in mineral resources.

The German Mineral Resources Agency and German companies could become our key partners in this area.

Here, we are referring to the geological survey projects, intensive exploration, processing and production of products with high added value, as well as arrangement of shipments to Germany and other EU countries.

Uzbekistan is ready to take part in the joint implementation of such projects in neighboring countries.

The technical assistance from Germany and European institutions in implementing the Digital Mapping Program of Critical Minerals and Rare Earth Metals in our region holds promising opportunities.

We also believe it is important to establish a reliable legal framework for such cooperation.

Fourth. “Green” energy. In recent years, all our countries have been actively developing solar, wind and hydropower, modernizing thermal power plants and networks, and promoting green hydrogen projects.

We propose to consider launching an Energy Dialogue between Central Asian countries and Germany, involving energy ministries, companies, operators, scientific organizations, design institutes and industry experts.

We are interested in preparing a Comprehensive Capacity Building Program for specialists in the low-carbon economy with the German technical assistance.

Fifth. Joint response to climate change.

Experts predict that the Central Asian region will remain most vulnerable to the effects of global warming. The rise in average temperatures will be twice as high as the world average.

We are grateful to the German side for launching the second phase of the “Green Central Asia” program, assistance provided for the implementation of environmental projects.

We are also interested in the following:

- implementation of joint educational programs and scientific exchanges at the Central Asian University of Environmental and Climate Change Studies;

- adoption of cooperation programs for the introduction of German water management technologies, modernization of irrigation systems, conservation of biodiversity and training of environmental specialists.

We support and are ready to take an active part in the practical implementation of the initiative of the German Chancellor to create a Central Asian Nature Partnership.

Sixth. The biggest barrier to deepening our partnership is the lack of transport connectivity, including land and air.

We count on Germany’s support in engaging European institutions in the development of alternative transportation corridors connecting Central Asia with Europe.

We propose to hold a joint Ministerial Conference next year on improving the transit capacity of such routes.

Dear heads of delegations!

The exhibition of cultural and historical heritage of our region last year at the Neues Museum in Berlin once again demonstrated the need for regular organization of such events.

Over several months, more than half a million of residents and guests of the German capital city enjoyed the exhibition.

We propose to adopt a Joint Plan for Cultural Activities in our countries, consider the possibility of holding Central Asian Art and Film Days in major cities of Germany, and establish cooperation between museums.

In the field of scientific and educational exchange, it is important to launch a platform for partnership among leading universities,
to develop programs aimed at expanding cooperation in the field of dual education, to train German language teachers with the involvement of the Goethe Institute and other German organizations.

The high interest of our youth in learning German is evidenced by the victory of an Uzbek schoolgirl at the World Olympiad held this summer in Göttingen.

Dear colleagues!

We believe it is important to continue close cooperation with Germany in the fields of combating terrorism, extremism and cybercrime, preventing radicalization of youth.

The security situation in Central Asia is inextricably linked with the processes taking place in Afghanistan.

We believe it is important to prevent the aggravation of the humanitarian crisis in this country, which is left alone with its own challenges.

In this regard, we are ready to cooperate with Germany and other European partners in the implementation of joint projects aimed at involving this country into regional economic cooperation and training personnel, including girls and women, in skills that are on-demand for the peaceful life in Afghanistan, at the Educational Center located in the border town of Termez.

In conclusion, I would like to emphasize that Uzbekistan is interested in untapping the potential of Germany’s multifaceted cooperation with the Central Asian region.

I am confident that today’s meeting will serve to further bringing our countries and peoples closer and fill our strategic partnership with concrete projects and programs.

Thank you!

On September 20-24, President of Uzbekistan Shavkat Mirziyoyev will pay a working visit to the city of New York to attend the events of the 80th jubilee session of the United Nations General Assembly.

According to the press service of the Head of our state, President of Uzbekistan will deliver a keynote address on the first day of organizing the general debate of the UN General Assembly plenary session.

It’s noteworthy that during the current jubilee session of the UNGA topical issues of ensuring global security and stability, achieving Sustainable Development Goals, reforming the system of the UN and international financial architecture, combatting the consequences of climate change and other modern challenges, will be reviewed.

On the sidelines of the summit, the Leader of Uzbekistan will hold talks with the UN Secretary-General António Guterres, heads of foreign states and governments, leaders of authoritative international financial institutions. 

In the framework of the business program in the United States, it’s planned to hold meetings and events with participation of the leading American companies and financial-investment structures. It’s planned to sign a package of new agreements and contracts.

On September 13, the President of the Republic of Uzbekistan Shavkat Mirziyoyev held a meeting with the winners and medalists of the XVII Summer Paralympic Games.

The event was attended by the leadership of the National Paralympic Committee and sports federations, coaches, parents of athletes, representatives of state and public organizations.

As you know, the competitions were held from August 28 to September 8 in the capital of France, Paris. About 4.4 thousand Paralympians from 168 countries participated in them. From Uzbekistan, 65 para-athletes competed in 9 sports.

The Paralympic Games, like the Olympics, were successful for our country. Our compatriots set many records, winning 10 gold, 9 silver, 7 bronze - a total of 26 medals. They took 13th place in the overall team standings, as well as 3rd place in Asia and 1st place among Turkic, Islamic countries and the Commonwealth of Independent States.

The traditional annual Address of the President of Uzbekistan Shavkat Mirziyoyev delivered on the eve of the New Year, became an important programmatic statement summarizing the results of the outgoing year and outlining the country’s strategic development priorities for the period ahead.

As the Head of State emphasized, the past year marked a period of steady progress in reforms and the strengthening of Uzbekistan’s socio-economic position, despite ongoing instability in the global economy and a complex international environment. In this context, the announcement of the coming year as the “Year of Mahalla Development and Society as a Whole” gained particular significance, signaling a transition toward a deeper focus of state policy on people’s quality of life and the development of civil society.

In his Address, the President noted that the national economy continued to demonstrate confident growth. The year 2025 concluded with landmark achievements: for the first time, the country’s GDP exceeded 145 billion US dollars, exports increased by 23 percent to 33.4 billion dollars, and foreign exchange and gold reserves surpassed 60 billion dollars. Investment inflows totaling 43.1 billion dollars enabled the implementation of dozens of major projects in industry, energy, and infrastructure. International rating agencies upgraded Uzbekistan’s sovereign credit rating from BB- to BB, opening more favorable conditions for external financing.

It was particularly emphasized that these macroeconomic results were accompanied by positive changes in the social sphere. Owing to active employment policies, the unemployment rate declined from 5.5 percent to 4.9 percent, and around five million people gained sustainable sources of income. Significant attention was devoted to supporting low-income families, developing targeted social assistance mechanisms, and improving access to basic services. The poverty rate decreased from 8.9 percent to 5.8 percent within a year, lifting approximately 1.5 million citizens out of poverty.

These outcomes were the result of consistent reforms aimed at enhancing economic resilience and creating a solid foundation for social development. Economic achievements expanded the state’s capacity to address social challenges and implement long-term support programs for the population. The President noted that social policy has become more responsive to the concrete needs of citizens, which represents a fundamental achievement of the current reform agenda.

Special attention in the Address was devoted to Uzbekistan’s foreign policy course, which was characterized as pragmatic, open, and oriented toward long-term national interests. The President emphasized that an active and balanced foreign policy remains a key factor in ensuring sustainable development, expanding economic opportunities, and strengthening Uzbekistan’s international standing. It was noted that in recent years the country has significantly expanded the geographical scope of its foreign economic relations, reinforced partnerships both with neighboring states and leading global centers, and consistently continued to promote regional cooperation initiatives. This course reflects Uzbekistan’s aspiration to assume a more visible and responsible role in international affairs, guided by the principles of mutual benefit and respect.

The Address also addressed the reform of the public procurement system as one of the key elements in enhancing transparency and efficiency in public administration. The President stressed that improving public procurement mechanisms is aimed at creating equal conditions for businesses, fostering competition, and ensuring the efficient use of budgetary resources. These measures are viewed as an important part of Uzbekistan’s preparation for accession to the World Trade Organization. In this context, reforms in the field of public procurement acquire not only domestic but also external economic significance, as they contribute to aligning national procedures with international standards and rules. Thus, the outlined steps reflect a systemic approach to Uzbekistan’s integration into the global trade and economic system.

A separate section of the Address focused on anti-corruption efforts, which were identified as one of the key priorities for further development. The President underscored that the fight against corruption is regarded not as a one-time campaign, but as a long-term state policy aimed at establishing an honest, transparent, and accountable system of governance.

“Allowing corruption is a betrayal of our reforms. We declare 2026 a year of ‘extraordinary measures’ to combat this scourge,” the President stated.

It was noted that the measures already being implemented—such as the digitalization of public services, increased transparency in decision-making, and strengthened public oversight—are producing tangible results, though they require further deepening. The emphasis on the anti-corruption agenda demonstrates a commitment to strengthening trust among citizens and international partners in state institutions.

Considerable attention in the Address was also given to environmental issues and sustainable development. The President noted that the environmental agenda is becoming an integral part of state policy and is directly linked to the quality of life of the population and the country’s long-term security. The importance of rational use of natural resources, the expansion of green technologies, and the implementation of programs to improve environmental conditions—especially in the most vulnerable regions—was underscored. Plans were announced to hold the next Assembly of the Global Environment Facility and the Central Asian International Environmental Exhibition in Samarkand in 2026. These events will create valuable opportunities to identify partners for industries, regions, and businesses, and to jointly launch new environmental projects. It was emphasized that environmental initiatives are viewed not only as a social necessity, but also as a key element of economic modernization and enhanced resilience.

Taken together, these priorities demonstrate the comprehensive nature of the ongoing reforms. They indicate that the course toward socially oriented development is inseparably linked with institutional transformation and international integration. This approach reflects Uzbekistan’s determination to build a balanced development model in which economic growth, social sustainability, and responsible governance mutually reinforce one another.

Summarizing the results of the concluding year, the Head of State stressed that all these achievements became possible due to a well-structured reform system and the active participation of society. At the same time, he underlined that further development requires not only economic resources but also a stronger social environment, trust, and solidarity. It was within this logic that the proposal was made to declare the coming year the Year of Support for the Mahalla, as the institution closest to people and their everyday concerns.

In the Address, the mahalla was characterized as a unique form of social organization that has absorbed centuries-old traditions of mutual assistance, responsibility, and respect. The President emphasized that the stability of the state begins with the stability of the mahalla, with an atmosphere of harmony and engagement at the local level. “If there is order and trust in the mahalla, there will be stability in society as a whole,” this idea became one of the key messages of the Address, logically linking past achievements with future objectives.

Support for the mahalla in the coming year is viewed as a systemic measure aimed at further strengthening social policy. The President pointed out that it is precisely at the mahalla level where family issues, employment challenges, education, social protection, and the prevention of social vulnerability can be identified most effectively. In this sense, the development of mahalla structures becomes a tool for increasing the targeting of state assistance and enhancing social justice. The economic achievements discussed earlier thus find their continuation in the social domain.

A significant part of the Address was devoted to citizen participation and the development of civil society. The President stressed that a modern state is impossible without active and responsible citizens involved in decision-making and oversight of implementation. In this context, the mahalla is seen as a space for fostering civic initiative and dialogue between authorities and the population.

“We must create conditions under which every person feels involved in the destiny of the country,” the Head of State noted, outlining a strategic commitment to expanding public participation.

Special emphasis was placed on the role of the mahalla in youth education and the strengthening of social values. The President noted that alongside economic indicators, the formation of a moral, educated, and socially responsible individual remains no less important. Support for projects in education, culture, and sports implemented at the mahalla level is regarded as an investment in the country’s future. “The future of Uzbekistan depends on the environment we create for our children today,” this quotation from the Address clearly reflects the long-term orientation of state policy.

Thus, the declaration of 2026 as the “Year of Mahalla Development and Society as a Whole” demonstrates the state’s intention to move from macro-level achievements toward deeper engagement with quality of life, human capital, and social institutions. It signifies a concentration of efforts on strengthening local communities, developing social infrastructure, and fostering an active and cohesive society.

The President’s Address sets a clear development vector for the year ahead: reliance on achieved economic successes, reinforcement of social policy, and the advancement of civil society through support for the mahalla. This approach reflects a strategic understanding that the sustainability of reforms and the country’s long-term prosperity are impossible without strong communities, trust, and citizen participation. In this context, support for the mahalla emerges not only as a social priority, but also as a foundation for Uzbekistan’s long-term development.

There are about a thousand manufacturing enterprises operating in the electrical engineering sector of Uzbekistan, most of them small, producing over two thousand types of products. Almost all enterprises in the industry are privately owned. The total number of people employed in the industry exceeds 35,000.

The 76 largest enterprises in the industry, which produce over 90% of all electrical engineering products, are members of the Association of Electrical Engineering Manufacturers (UzEltechSanoat). Of these, 18 enterprises manufacture electrical wires and cables, 27 enterprises manufacture household appliances, and 32 enterprises manufacture power transformers and other electrical products.

The Development Strategy of New Uzbekistan for 2022-2026 aimed to increase industrial production by 1.4 times by 2026, including doubling the production of high value-added products in the electrical engineering industry and tripling exports.

The Uzbekistan-2030 Strategy, adopted in September 2023, will ensure the achievement of all the goals outlined in the Development Strategy of New Uzbekistan. It also sets the task of increasing copper processing in the electrical engineering industry to 300,000 tons per year and raising the localization level of manufactured products to an average of 65%.

Therefore, Uzbekistan pays special attention to the development of technologically advanced industries, including electrical engineering, and provides state support.

Over the past seven years, the President of Uzbekistan has adopted several legislative acts providing customs and tax benefits to enterprises in the electrical engineering industry, as well as subsidies to cover transportation and other expenses.

Specifically, until January 1, 2027, enterprises in the electrical engineering industry have received a 50% reduction in profit and property taxes. Additionally, benefits for exemption from customs duties on imported raw materials, components, and equipment for their own production needs have been extended.

Furthermore, several programs have been approved for the implementation of investment projects in the electrical engineering industry, focusing on technical and technological upgrades of existing facilities and the creation of new production lines.

Due to these measures, over the past 7 years, the volume of attracted investments in the industry has amounted to $935 million, of which about $400 million are foreign direct investments.

Additionally, more than 260 new investment projects worth over $800 million have been launched, including 50 cable production projects worth $120 million, 115 household appliance projects worth $380 million, 40 power equipment projects worth $60 million, and 58 other electrical engineering projects worth $250 million.

As a result, over 13,000 new jobs have been created, bringing the total number of jobs in the industry to 35,000.

As a result of implementing investment projects for modernizing and creating new production facilities, the production of new types of electrical engineering products has been mastered, particularly household appliances (washing machines, electric stoves, vacuum cleaners, hoods, water heaters, new models of refrigerators and washing machines under the Samsung brand, SMART HD TVs, built-in hobs and gas stoves, etc.); industrial air conditioners; new types of electrical cables (high and low voltage, used in solar energy systems, household appliances, as well as self-supporting insulated cables); dry transformers; electronics (monoblocks, SIM cards, electronic boards for household appliances); smart meters for electricity, gas, and water consumption; parts for solar panels and renewable energy stations; elevators and escalators; water pumps, etc.

Overall, from 2017 to 2023, the production volume of the electrical engineering industry increased 7.1 times to $1.98 billion, including a 5.5-fold increase in wires, cables, and copper products to $792 million; an 8.2-fold increase in household appliances to $633 million; and a 9.3-fold increase in power and technical equipment to $567 million.

The contribution of the electrical engineering industry to the development of the economy is also growing, and although the share of the industry's value added in the economy is still less than 1%, it has grown 1.5 times in recent years.

The growth in the production of electrical engineering products has contributed to an increase in export volumes, which have grown 5.5 times to $1047 million over the specified period, including a 4-fold increase in wires, cables, and copper products to $576 million; a more than 10-fold increase in household appliances to $214 million; and a 12-fold increase in power equipment and other products to $257 million.

It should be noted that the significant growth (more than 10 times) in the export of household appliances occurred due to the creation of new production facilities in Uzbekistan by Artel Electronics. In particular, the export volume of refrigerators increased 15 times to $58 million, televisions 6 times to $52 million, electric stoves 4.5 times to $40 million, washing machines 5 times to $20 million, air conditioners 4 times to $15 million, etc.

Moreover, not only the geography of export countries has expanded, but also the range of electrical engineering products supplied to foreign markets. Currently, about 200 types of various electrical engineering products are exported to almost 70 countries. The number of exporting enterprises in the electrical engineering industry has grown to 100.

In January 2024, a Presidential Decree "On Additional Measures for Further Increasing the Production and Export Potential of the Electrical Engineering Industry" was adopted, outlining target indicators for the industry's development in the coming years.

Specifically, in 2024, the plan is to increase the volume of production by almost 30% to $2.6 billion, exports by 43% to $1.5 billion, and the volume of copper processing into finished products to 140,000 tons. In 2025, the goal is to increase production to $3.2 billion, exports to $2.0 billion, and copper processing to 160,000 tons.

To achieve these targets, the Program for Creating New Production Capacities and Diversifying Production in the Electrical Engineering Industry in 2024-2026 and Beyond has been approved. The program aims to implement a total of 294 investment projects worth over $4 billion in the coming years.

In conclusion, it should be noted that the necessary conditions have been created in Uzbekistan for enterprises in the electrical engineering industry to increase production volumes and expand the supply of their products to both domestic and foreign markets.

Therefore, goals have been set to increase exports not only to traditional but also to new markets. In particular, there are plans to increase the export of electrical engineering products to European markets, considering the GSP+ preferential trade regime granted to Uzbekistan, as well as to South Asian and Middle Eastern countries.

Yuri Kutbitdinov,

chief Research Officer of the Center for Economic Research and Reforms under the Administration of the President of the

Republic of Uzbekistan

In recent years, relations between Uzbekistan and the United States of America have gained a new impetus. Moving beyond formal diplomacy, the partnership has evolved into a deeper, multi-dimensional engagement. Today, political dialogue is active, economic and business ties are expanding, and humanitarian and people-to-people connections are steadily strengthening.

Until 2017, Uzbek-American cooperation was primarily focused on regional security issues and the situation in Afghanistan, while noticeable progress in the economy and investment was virtually absent. However, following the election of Shavkat Mirziyoyev and his visit to Washington in 2018, cooperation began to acquire a strategic character.

This marked the first visit by Uzbek leader to the United States in 16 years and signaled a new level of mutual trust. During the visit, agreements and memoranda totaling over $4.8 billion were signed, paving the way for projects involving major U.S. companies.

These positive trends have largely been driven by Uzbekistan’s domestic reforms and its pragmatic approach to regional and foreign policy. Consequently, diplomatic engagement has intensified: regular consultations at the level of foreign ministries have fostered systematic and structured cooperation.

Since the 2020s, relations have evolved into a multi-layered structure. In 2021, the format of political consultations was transformed into the “Strategic Partnership Dialogue between Uzbekistan and the United States,” encompassing the economy, security, and environmental issues. The first meeting of this new format took place in Tashkent and laid the foundation for comprehensive cooperation.

In 2024, bilateral relations reached a qualitatively new level with the official establishment of an expanded strategic partnership. This format is based on the alignment of key priorities: Uzbekistan seeks deep economic modernization, attraction of foreign investment, integration into global markets, and the formation of a competitive economy. The United States supports these efforts, affirming its commitment to the reform process and encouraging American business participation in the new opportunities emerging in Uzbekistan.

In this context, the meeting between Shavkat Mirziyoyev and Donald Trump in September of this year on the sidelines of the UN General Assembly outlined specific priorities for bilateral cooperation and established the foundation for long-term collaboration. More than ten agreements were signed with major companies, including Boeing, Cargill, and Citigroup and others.

Following this, in October 2024, a U.S. delegation led by President Biden’s Special Envoy for South and Central Asia, Sergio Gor, and Deputy Secretary of State Christopher Landau visited Tashkent. The visit reinforced mutual trust and underscored both sides’ commitment to advancing joint initiatives in key areas of the bilateral agenda.

Undoubtedly, the U.S. contribution to Uzbekistan’s economy maintains a steady dynamic: in 2024, trade turnover increased by 15%, reaching $881.7 million. The portfolio of investment projects exceeds $11 billion. These figures illustrate a steady expansion of trade and economic cooperation, even as overall volumes remain relatively modest.

At the same time, the contemporary economic agenda, however, extends beyond traditional trade. Joint industrial and investment projects, collaboration in logistics, civil aviation, agro-industrial complex, and metallurgy, as well as the implementation of digital and innovative solutions in supply chain management, are coming to the forefront.

Structural changes in Uzbekistan’s export profile are particularly noteworthy. Services now constitute 86% of the country’s main export portfolio. The United States remains the largest market for Uzbek IT services: of 800 active exporters, 448 provide digital services to the U.S., representing 45% out of total IT exports. This underscores the U.S.’s role as a strategic partner in Uzbekistan’s technology sector.

To increase the export of Uzbek goods to the U.S., the President instructed the regions of the country to establish direct connections with individual states. For instance, in August of this year, a task was set to increase textile exports to the U.S. five to sixfold. Within this initiative, the Andijan Region Textile Trade House opened a representative office in St. Louis, one of the country’s key logistics hubs.

The American company Oppenheimer plans to participate in the financing of three major projects in the Andijan Region with a total value of $1.2 billion, including the creation of a textile industrial zone worth $180 million.

Uzbekistan has again attracted U.S. attention due to the presence of critically important minerals and rare earth elements used in batteries, semiconductors, and modern defense systems. In April 2025, the countries signed an agreement on cooperation in the extraction of such resources, and in September, the American investor Cove Capital began geological exploration work.

Significant progress is also observed in the humanitarian sphere: the number of academic exchanges and educational programs is increasing, and the interest of Uzbek youth in American education has noticeably grown. Currently, 40 Uzbek universities implement partnership projects with more than 25 American universities and educational institutions. Cooperation includes academic exchange of faculty and students, joint research, and the engagement of American specialists in the educational process.

These initiatives reflect Uzbekistan’s aspiration for greater openness and integration into the international community, creating conditions for expanding contacts in tourism and cultural spheres.

In this context, starting January 1, 2026, Uzbekistan will introduce a 30-day visa-free regime for U.S. citizens. Previously, such a regime only applied to tourists over 55 years old. The new rules significantly facilitate U.S. citizens’ access to the country, promoting tourism, business travel, and cultural exchanges, as well as opening additional opportunities for establishing direct contacts between individuals and organizations in both countries.

A central element of multilateral interaction remains the regional C5+1 format, which unites the U.S. and the five Central Asian countries. The U.S. National Security Strategy indicates the intention to intensify work within this platform to promote initiatives on climate change mitigation, energy and food security, development of transport connectivity, and expansion of Central Asian countries’ access to global markets.

To sum up, the evolution of Uzbekistan-U.S. relations demonstrates how pragmatism and reform-driven policies can overcome barriers and create mutual benefits. Today, bilateral relations are comprehensive and resilient: Uzbekistan has emerged as a significant partner, recognized in Washington as a key contributor to regional stability. The trajectory of cooperation points toward constructive partnership, with Central Asia serving not as periphery, but as a bridge for sustainable development and mutually beneficial collaboration.

Shakhnoza Kodirova

Head of the Department the

the Institute for Strategic and Regional Studies

under the President of the Republic of Uzbekistan

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)

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

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

Fifteen new projects were announced at the ceremony.

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

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

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

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

At the invitation of President of the Republic of Uzbekistan Shavkat Mirziyoyev, President of Mongolia Ukhnaagiin Khurelsukh will pay a state visit to our country on June 23-26.

In accordance with the program of the high-ranking guest's stay, it is envisaged to hold high-level talks in Tashkent, during which issues of further expansion and strengthening of Uzbek-Mongolian relations of friendship and multifaceted cooperation will be considered.

In particular, the agenda includes plans to develop constructive political dialogue and inter-parliamentary contacts, increase bilateral trade turnover, implement cooperation projects in mining, agriculture, livestock, light industry, healthcare, transport, logistics and other areas. Joint measures aimed at boosting cultural, humanitarian and tourist ties will also be discussed. There will be an exchange of views on international issues.

A package of intergovernmental and interdepartmental documents will be signed following the results of the summit.

As part of the program of the state visit, the leaders of the two countries will meet with representatives of leading companies and business circles, and a number of other bilateral events will be held.

Mongolian President Ukhnaagiin Khurelsukh will also visit Khiva, where he will familiarize himself with the rich cultural and historical heritage of our people.