Annotation. The Ferghana Valley is the historical heart of Central Asia, where a new model of regional cooperation based on trust, good neighbourliness and sustainable development is currently taking shape. The initiative
of the President of Uzbekistan Shavkat Mirziyoyev to hold the Ferghana Peace Forum reflects a common desire among the countries of the region to strengthen mutual understanding and create the area of peace, stability, and shared prosperity.
INTRODUCTION
Historically, the Fergana Valley was a shared space where countries used common resources and people kept close ties. For centuries, the valley was
at the crossroads of key trade routes connecting the West and the East.
The establishment of an atmosphere of good neighbourliness
in the Ferghana Valley reflects positive developments throughout Central Asia. Essentially, this is the result of political will, a concentrated expression
of the joint efforts of the leaders of all five countries to maintain security
and stability in the region.
Holding the Fergana Peace Forum in Fergana on October 15–16, 2025, confirms the statement made by the President of Uzbekistan at the 80th session of the UN General Assembly about the transformation of Central Asia into
an area of peace, friendly relations and partnership.
FROM A ZONE OF TENSION TO A SPACE OF TRUST
In the early years of independence, unresolved border issues and
the existence of numerous ethno-territorial enclaves served as grounds
for viewing the region as a conflict zone.
However, today, thanks to the political will and joint efforts of the leaders
of states, the Fergana Valley, previously perceived as a “powder keg,”
“Achilles' heel,” and “hot spot,” is becoming a symbol of peace, sustainable development, and a space of opportunity.
In recent years, Uzbekistan, Tajikistan and Kyrgyzstan have made significant progress in diplomacy and establishing stable political contacts.
The visits of the countries' leaders and their participation in regional forums and organizations such as the Shanghai Cooperation Organization
and the Consultative Meeting of the Heads of Central Asian States contribute
to the deepening of political and economic ties. The development of bilateral
and multilateral relations in the political sphere has helped to create a solid foundation for regional integration and mutual support.
Moreover, all five Central Asian countries contribute to the sustainable development of the Ferghana Valley. Joint water and energy projects are being implemented. In January 2023, Uzbekistan, Kazakhstan and Kyrgyzstan signed
a “”Road Map” for the implementation of the Kambarata HPS-1 construction project, and in June 2024, an interdepartmental agreement on preparations
for the implementation of the project.
A new phase of regional diplomacy began in 2017 with the election
of Shavkat Mirziyoyev as the President of the Republic of Uzbekistan. Relations
with neighbouring countries reached a qualitatively new level. Dialogue based on the principles of openness, respect, and equality laid the foundation
for long-term friendly coexistence.
Thanks to the political will of the leaders of the three states—Uzbekistan, Kyrgyzstan, and Tajikistan—historic agreements were reached in 2025
with the signing of the Treaty on the Junction Point of the State Borders
of Three States and the Khujand Declaration on Eternal Friendship.
These documents became a symbol of a new era of trust and creative partnership. The treaty legally established the borders of the three states
at a concrete point in the Ferghana Valley.
This breakthrough did not come unexpectedly, without preparatory work. In the preceding months, on March 13, 2025, Kyrgyzstan and Tajikistan signed an important agreement on the demarcation of their common border—the final stage of their long negotiations.
Kyrgyz President Sadyr Zhaparov noted that regional integration continues to develop actively, and the strengthening of cooperation
in all spheres will be the key to sustainable development and prosperity throughout Central Asia.
In turn, Tajikistan President Emomali Rahmon called the development
of relations between the three countries based on the principles of good neighborliness, equality, and mutual respect one of the priorities of Tajikistan's foreign policy.
The international community particularly highlights the indispensable role of Uzbekistan's President Shavkat Mirziyoyev, who initiated a new diplomatic line: "Borders should not divide, but unite our peoples."
This approach creates a model for peaceful transformation, where internal rather than external factors shape the architecture of trust, friendship, and good neighbourliness.
The formation of the area of stability and cooperation in Ferghana Valley was achieved without external involvement, solely through the strong political will of the leaders of the three states, combined with the desire of the peoples
of the region for peaceful coexistence, creating a solid foundation for lasting peace and prosperity.
Ferghana Valley – an “exemplary model” for building inter-state relations in other regions
The Ferghana Valley is one of Central Asia's unique oases – a place where the destinies of the peoples of Uzbekistan, Kyrgyzstan, and Tajikistan have intertwined. More than 17 million people live here, accounting for 20%
of the total population of Central Asia, which is around 83 million.
Today, the valley is gradually becoming a symbol of the new Central Asia – a region where borders are not barriers, but bridges of interaction.
The development of transport, trade, and humanitarian ties between Uzbekistan, Kyrgyzstan and Tajikistan paves the way for the formation of a single space
for interaction in the name of common prosperity.
Joint infrastructure and economic projects, the restoration of roads
and railways, the development of border logistics hubs, and the modernization of checkpoints are creating conditions for the free movement of people, goods, and ideas.
Communications between the Ferghana Valley and the outside world are actively developing. Today, it is being integrated into international multimodal transport corridors and is gradually regaining its status as an interregional transit hub connecting East and West.
In this regard, the China-Kyrgyzstan-Uzbekistan railway project is of great importance. If implemented, it will have a multiplier effect on the economies
of all countries in the region.
The railway will provide access to the ports of the Persian Gulf
and the Pacific Ocean, open up new markets, thereby diversifying the economy and creating new jobs.
Visa regimes are being simplified and the throughput capacity at border crossing points is being improved, which will encourage more mutual travel
by citizens.
Uzbekistan maintains a visa-free regime with all Central Asian countries except Turkmenistan. In particular, there are currently 17 border crossing points between Uzbekistan and Tajikistan and 25 between Uzbekistan
and Kyrgyzstan. In 2016, there were only 13 between Uzbekistan
and Kyrgyzstan, and all of them operated with restrictions. For example, currently, up to 20,000 people pass through the Dustlik checkpoint
on the Uzbek-Kyrgyz border every day, which is 100 times more than in 2016.
At the same time, the number of vehicles passing through has increased tenfold, reaching 700 per day.
The Mingtepa and Khanabad border checkpoints were opened in 2023, and the Uchkurgan and Karasu checkpoints in 2024. These points had been closed since 2009-2010.
Today, citizens of Uzbekistan and Kazakhstan can travel to each other's countries for up to 30 days without registration. A visa-free regime
for up to 60 days has been established between Uzbekistan and Kyrgyzstan,
and since September 1, 2023, it has been possible to use ID cards
(instead of foreign passports) for mutual travel between the two countries.
The time required for goods and people to cross the border has been reduced to an unprecedented eight minutes. In turn, citizens of Tajikistan
and Uzbekistan can stay in each other's territory for up to 30 days
without a visa. This, in turn, contributes to the intensification of cooperation
and improved mutual understanding between the peoples of the Fergana Valley.
On the whole, a common space is forming in the Ferghana Valley, as it has throughout history. The restoration of the valley's interconnectedness contributes to the stability and sustainable development of the entire region.
The international community's keen interest in these processes confirms that Central Asia is becoming an important center for the formation of a culture of peace. The initiatives put forward by Uzbekistan have received support
from the UN, OSCE, EU, and other international partners, which strengthens
the legitimacy and sustainability of regional efforts.
The Ferghana Peace Forum has a special place in this process—it's not just a diplomatic meeting, but a platform for developing a new philosophy
of regional cooperation. This forum brings together political leaders, experts, and public figures, offering an open dialogue on strengthening peace, trust,
and sustainable development in Central Asia.
The event will enable the countries of the region to independently shape their own architecture of stability and sustainable development, based
on mutual respect and the desire for a better future for new generations.
CONCLUSION
The Ferghana Valley is gradually transforming into a space of peace
and harmony, where peoples find common ground and jointly strengthen
the region's stability.
The establishment of the atmosphere of friendship and
amicable relations in the Ferghana Valley shows that, even in today's turbulent global environment, ensuring stability in the region is an achievable goal.
This process requires patience, wisdom, and willingness to make reasonable compromises. Uzbekistan, Kyrgyzstan, and Tajikistan have demonstrated these qualities and their ability, despite complex challenges,
to unite for common goals such as strengthening security and sustainable development.
In turn, the Fergana Peace Forum is called to become a permanent platform aimed at strengthening dialogue and trust, ensuring sustainable development of the Ferghana Valley, unlocking economic potential,
and strengthening cultural and humanitarian ties. This meeting reflects the unity of the countries in the region, which are determined to build a common future together.
Authors: Diloram Mukhsinova and Bekhzod Alimjanov,
senior researchers at the Center for Foreign Policy Studies
(Uzbekistan)
Over the past five years, the open dialogue between the President of Uzbekistan and entrepreneurs has evolved from a new feedback format into a stable mechanism of economic policy. Its importance is defined not only by the number of appeals received or proposals voiced. The main result has been a consistent transition from removing individual barriers to changing the rules of doing business themselves – in taxation, lending, access to land and infrastructure, export support, digitalization of services, and protection of entrepreneurs’ rights.
The logic of the five meetings held so far is clearly reflected in their dynamics. The first dialogue in 2021 focused on removing the most urgent post-pandemic restrictions and restoring trust between the state and the private sector. The second established a categorized approach to businesses and territories. The third set the goal of helping companies grow from microbusiness to small business, from small to medium-sized and large enterprises. The fourth expanded access to capital, land, energy, and markets. The fifth focused on legalizing entrepreneurial activity, developing digital financial services, simplifying tax administration, supporting startups, and protecting investments.
It is important to note that entrepreneurship indicators are the result of the full range of economic reforms, not only the annual meetings. However, the open dialogues have become the platform where business problems are translated into specific decisions, and their practical implementation is reviewed at the next meeting.
As Uzbekistan approaches the upcoming sixth dialogue, scheduled for August 2026, the country has a fundamentally different business climate from the one with which this process began.
2021: The First Dialogue
The first open dialogue took place on August 20, 2021. At that time, entrepreneurship was emerging from a difficult pandemic period, and businesses needed affordable financial resources, predictable taxation, simplified exports, protection of property, and reduced administrative pressure.
More than 15,000 appeals were received before the meeting, and about half of them were resolved on the spot. Following the discussion, the President outlined seven main areas of work and proposed holding the open dialogue annually. August 20 was designated as Entrepreneurs’ Day.
One of the central issues was access to financing. To strengthen banks’ resource base, $600 million was allocated through the Fund for Reconstruction and Development, and Eurobonds worth about $417 million were placed in the national currency. Foreign-currency loans of around 6,000 entrepreneurs, totaling about $1 billion, were converted into the national currency. This reduced currency risks for borrowers and expanded opportunities for long-term local-currency lending.
Conditions for microfinance organizations were simplified, while in the tax sphere the reduction of the tax burden and simplification of administration continued. For exporters, a mechanism was introduced to refund 80% of VAT within 7 days instead of 60 days, without additional inspections.
Significant changes also affected exports and logistics. Enterprises exporting goods with high added value were given the opportunity to receive compensation for up to 50% of transport costs for deliveries to neighboring countries and up to 70% for deliveries to the EU. The requirement for repeated national certification of a number of types of equipment, components, and raw materials already certified in countries with advanced quality control systems was abolished.
In regulation, more than 40 duplicating control functions were eliminated. The digitalization of permitting procedures expanded, while the process of receiving subsidies was transferred to a Single Window system.
As a result, by August 2022, the number of exporting enterprises reached 7,500, while total exports grew by 30%. In the first seven months of 2022, exporters received about $14.2 million in transport subsidies, and the geography of exports expanded by another 32 markets. A total of 15,800 land plots were put up for online auction, while more than 54,000 vacant land plots with a total area of over 22,000 hectares were entered into the YerElectron system.
2022: The Second Dialogue
The second open dialogue took place on August 22, 2022. Before the meeting, more than 12,000 appeals were received. Entrepreneurs were mainly concerned with issues related to financing new projects, working capital, connection to infrastructure, allocation of land, tax administration, and inspections.
The main decision of the dialogue was the categorization of businesses. Enterprises were divided by annual turnover: up to about $83,000 as microbusinesses, up to about $834,000 as small businesses, and up to about $8.3 million as medium-sized businesses. This made it possible to apply differentiated regulatory and support measures based on the scale, financial capacity, and stage of development of each enterprise. As a result, smaller companies no longer had to bear the same regulatory burden as larger businesses.
Starting in 2023, a single turnover tax rate of 4% was introduced for microbusinesses, replacing the previous range of 4% to 25%. For enterprises moving to the general taxation regime as their turnover increased, a twofold reduction in profit tax for one year was introduced. This measure helped 370,000 entrepreneurs move to the next stage of development.
Another major decision was the reduction of the VAT rate to 12% from January 1, 2023. At the same time, about $167 million of debt arising from the application of increased tax rates on unused buildings and land plots was written off.
The categorization of districts and cities according to business conditions was also important. Territories were divided into five groups, for which different regimes of taxation, subsidies, interest compensation, guarantees, and infrastructure connection began to be formed. Special tax, credit, and financial conditions were introduced in 60 districts of the republic.
A principle was also established under which a decision to allocate land or property to an entrepreneur can be canceled only by a court. In addition, criminal liability for violating trade rules was abolished.
By August 2023, the results of the second dialogue were already reflected not only in regulatory acts but also in measurable indicators. State support measures began to depend on the scale of a company and the conditions of a territory, while business growth no longer automatically meant a sharp increase in the regulatory burden.
2023: The Third Dialogue
The third open dialogue was held on August 18, 2023. It announced the creation of a comprehensive system for training entrepreneurs, preparing projects, providing financing, and finding new markets and partners.
Fourteen small business centers were established in each region with the aim of helping 150,000 small business entities get on their feet, moving 25,000 companies into the medium-sized category, and creating 250,000 permanent jobs.
To support the transition from small to medium-sized business, an industrial mortgage system was launched, providing businesses with ready-made production facilities. The program “New Uzbekistan: A Country of Competitive Products,” which previously covered 100 leading exporters, was expanded to 500 enterprises. The state moved from general export support to targeted work with companies capable of entering new markets and introducing international standards.
By August 2024, more than 700 issues, initiatives, and new projects proposed by entrepreneurs had been supported. An additional about $667 million was allocated, while another about $1.5 billion was directed to industry, agriculture, services, and entrepreneurial infrastructure.
The turnover of entrepreneurs grew by 25% over the year and reached about $82.2 billion. The number of medium-sized enterprises with turnover from about $834,000 to $8.3 million doubled, while the number of large companies with turnover above about $8.3 million exceeded 2,200, also roughly doubling compared to the previous year.
Joint work by the tax, banking, and financial-economic systems at the level of mahallas and clients helped 16,000 previously loss-making enterprises earn about $542 million in profit in half a year. The number of enterprises in categories “A” and “B” in the entrepreneurship rating increased by 91,000, while another 170,000 companies moved out of the lowest “D” category.
The level of business sustainability was especially telling: the share of enterprises operating for more than three years reached 76%, while the number of such active entities approached 300,000 for the first time.
2024: The Fourth Dialogue
The fourth open dialogue took place on August 20, 2024, in Nukus. During the year, the government, the Chamber of Commerce and Industry, the Business Ombudsman, and khokims worked with entrepreneurial initiatives on a permanent basis. As a result, a number of effective economic measures were adopted.
The amount of microcredit was tripled to about $25,000, while collateral was no longer required for part of the loan up to about $8,300. Work began on preparing a law on Islamic finance, which was estimated as a source of an additional $5 billion in resources. VAT on land purchased through auctions was abolished. Installment payment terms for land were set at up to 3 years in Tashkent and regional centers, up to 5 years in other regions, and up to 10 years in districts of the fourth and fifth categories.
For industrial enterprises, the procedure for paying for electricity and gas when consumption limits were exceeded was softened. To launch the production of new types of domestic products based on long-term orders, $100 million was allocated.
As a result, by August 2025, 1,600 microenterprises had increased their turnover above about $834,000 and moved into the medium-sized category. Another 143 microenterprises exceeded turnover of about $8.3 million and became large businesses, while 122 small enterprises also entered the large business category.
In 2024 alone, 16 types of licenses and permits were abolished, which, according to estimates, saved entrepreneurs about $29.2 million.
By the time of the fifth dialogue, more than 600 startups were operating in the country. In the first seven months of 2025, they attracted $264 million in foreign investment, four times more than in the whole of 2024.
2025: The Fifth Dialogue
The fifth open dialogue took place on August 20, 2025, in New Tashkent. In preparation for the dialogue, meetings and consultations were held with almost 7,000 entrepreneurs representing 26 sectors. In addition, more than 13,000 appeals and initiatives were received through call centers.
The main result of the five-year cycle was that hundreds of entrepreneurial initiatives had already been enshrined in legislation. The agenda of the fifth meeting focused on further reducing the cost of doing business and supporting the transition from the informal sector to the legal economy.
The largest changes affected 300,000 individual entrepreneurs and 5.5 million self-employed people. A special legal regime was introduced for them until 2030, with digital services from registration to reporting, remote biometrics, electronic wallets for salary payments, and a universal QR code for accepting payments.
In addition, starting from January 1, 2026, individual entrepreneurs and self-employed people with annual turnover of up to about $83,000 pay turnover tax at a rate of 1% instead of 4%. Thus, the tax burden for businesses with turnover of up to about $83,000 was reduced by 3 to 4 times.
According to Presidential Decree No.214 of November 14, 2025, the principle of “Starting a business in 15 minutes” is introduced from January 1, 2026. Under this approach, when registering a business, an entrepreneur immediately receives an electronic digital signature, a bank account, the ability to formalize a lease, register a cash register, and submit the necessary notifications. This further simplifies the start of entrepreneurial activity and makes opening one’s own business more accessible.
It is important to note that 2025 data show that 493,000 enterprises were operating in the country, while 82,400 new enterprises were created during the year. The share of small business amounted to 52.2% of GDP, 36.6% of exports, and 28.5% of industrial production. In construction, its share reached 75.6%; in trade, 83%; and in services, 47.2%.
These figures show that entrepreneurship has become one of the pillars of Uzbekistan’s economy, accounting for a significant share of production, trade, construction, services, and exports. The scale of the private sector that has been formed creates a solid foundation for the further expansion of business activity, higher competitiveness, and sustainable economic growth in Uzbekistan.
Conclusion
The five open dialogues have formed a new tradition of interaction between the state and the business community. Its key feature is continuity: each new year begins with an assessment of already implemented decisions and then expands the horizon of new tasks.
During this period, many effective and useful decisions for business development have been adopted. However, the main outcome lies not so much in the number of measures taken as in the formation of a stable class of entrepreneurs capable of creating jobs, investing, introducing new technologies, and competing in foreign markets.
The sixth dialogue will be important precisely as the next stage of this trajectory. It is expected that particular importance will be attached to decisions that help introduce artificial intelligence and digital technologies into business, train managerial and engineering personnel, improve energy efficiency, implement international standards, and create competitive national brands.
If these expectations are translated into measurable decisions and implemented with the same continuity as in previous years, the open dialogue format will continue to perform its main function: turning the accumulated experience of entrepreneurs into a practical development program for the entire economy.
Khurshed Asadov,
Deputy Director of the Center for Economic Research and Reforms
A meeting of the Organizing Committee for the Second Asian Women’s Forum was held at the Senate of the Oliy Majlis.
The meeting was chaired by the Chairperson of the Senate, Tanzila Narbaeva.
The meeting was attended by members of the Organizing Committee, senators, heads of relevant ministries and agencies, as well as representatives of non-governmental non-profit organizations.
It should be noted that the Head of state, during the 80th session of the United Nations General Assembly held on September 23–29, 2025, proposed transforming the Asian Women’s Forum into a permanent platform.
To this end, it was decided to hold the forum jointly with UN Women and the United Nations Population Fund on May 13–15 this year in the city of Bukhara.
The forum will address issues related to empowering women in the region in areas such as politics, economy, healthcare, education, social protection, climate, environment, and governance. It is expected to enhance both global and regional cooperation, with active exchange of experience.
The event will also serve as a platform to present to international participants the reforms implemented in Uzbekistan under the leadership of the Head of State, including measures to support women, socio-economic opportunities, and conditions created in employment, entrepreneurship, education, and social protection, as well as achievements in community development and tourism potential.
Particular attention will be given to the implementation of key international frameworks, including the Convention on the Elimination of All Forms of Discrimination against Women, UN Security Council Resolution 1325, the Beijing Declaration and Platform for Action, and the Sustainable Development Goals.
During the meeting, participants discussed organizational aspects related to the forum, including its agenda, content, and arrangements for bilateral meetings with foreign delegations.
Following the meeting, relevant ministries and agencies were assigned specific tasks to ensure the forum is held at a high level.
Dunyo IA,
Tashkent
The current transformation of global supply chains and the search for sustainable alternative routes between Asia and Europe are bringing issues of transport connectivity to the forefront. In this context, the development of reliable corridors running through Central Asia and the South Caucasus takes on strategic importance, becoming a key factor in ensuring the sustainability of regional trade, diversifying transport routes, and strengthening economic integration across Eurasia.
Uzbekistan and Georgia occupy complementary geographical positions at the crossroads of key Eurasian routes. For Uzbekistan, a landlocked country, Georgia serves as a vital maritime gateway to Europe via its Black Sea ports. In turn, for Georgia, the partnership with Uzbekistan opens up access to the rapidly growing markets of China and South Asia. This complementarity forms a solid foundation for long-term transportation and logistics cooperation.
The Trans-Caspian International Transport Route (Middle Corridor) plays a central role in this cooperation, with Uzbekistan and Georgia playing a particularly important role. By the end of 2025, steady growth was recorded: the volume of Uzbek cargo transported along this route doubled, reaching 1.2 million metric tons. These results confirm the corridor’s growing popularity and its emergence as a viable alternative to traditional transport routes between the East and the West.
A positive trend is also evident in bilateral freight traffic. By the end of 2025, the total volume of freight traffic between Uzbekistan and Georgia stood at 146.8 thousand metric tons, an increase of 5 percent. Exports grew by 27 percent to 53,400 metric tons, while imports rose by 26 percent to 71,500 metric tons.
Rail transport showed the highest growth rates. In 2025, the volume of rail freight traffic between the two countries reached 53,1 thousand metric tons, an increase of 56 percent. Exports grew by 71 percent, imports by 65 percent, and transit shipments by 49 percent, indicating significant untapped potential in this sector.
The key instrument for increasing rail freight traffic between the two countries and transit through them is the CASCA+ international route, which connects countries in the Asia-Pacific region—China, Kyrgyzstan, Uzbekistan, Turkmenistan, Azerbaijan, Georgia, Turkey, and Europe. To develop this route, Uzbekistan has established a Coordination Committee, and the parties have designated logistics companies responsible for organizing transit container trains.
As part of this route, the railway administrations of the participating countries are granted annual tariff preferences of up to 70%, which leads to an increase in mutually beneficial freight volumes. In addition, on June 8–9 of this year, another six-party meeting was held among the participating countries, resulting in the signing of a protocol to increase freight volumes along the CASCA+ corridor.
Air service is also developing rapidly. Regular flights operate on the Tashkent–Tbilisi and Tashkent–Batumi routes. In 2025, Uzbek airlines operated 608 scheduled and charter flights to and from Georgia, a 12 percent increase over the previous year. In the first five months of 2026, the number of flights doubled compared to the same period last year, reflecting growing mutual interest and the strengthening of humanitarian ties between the peoples of the two countries.
The strategic outlook for cooperation is shaped by major railway projects being implemented with Uzbekistan playing a leading role. The construction of the “China – Kyrgyzstan – Uzbekistan” railway creates the shortest overland route from China to Central Asia and, via the Caspian Sea, to the South Caucasus. In turn, the Trans-Afghan Railway project (“Uzbekistan – Afghanistan – Pakistan”) opens a direct route to the markets of South Asia.
Integrating these projects with existing transport corridors through the countries of the Caucasus and Central Asia will strengthen their interconnectivity and efficiency. Thus, cooperation between Uzbekistan and Georgia is taking on the character of a strategic partnership aimed at strengthening the interconnectedness of Central Asia and the South Caucasus.
Sh. Akhmedov, Leading Specialist at the Center for the Study of Transportation and Logistics Development Issues under the Ministry of Transportation of the Republic of Uzbekistan
The Fifth Tashkent International Investment Forum will take place on June 16–19, 2026. This year’s theme – “Investment Resilience: New Frontiers, New Partnerships” – frames the agenda around a set of pressing questions: how to protect capital amid global uncertainty, what institutional mechanisms enhance investment resilience in frontier markets, and where the new partnership routes lie.
The forum’s context is set by macroeconomic results. According to the National Statistics Committee, Uzbekistan’s GDP grew by 7.7% in 2025 and exceeded $147 billion – the fastest pace since 2021 and among the highest in the Europe and Central Asia region. Fitch Ratings and S&P Global upgraded the country’s sovereign rating from BB– to BB for the first time, while Moody’s revised its outlook to “positive.” International reserves, per the Central Bank, surpass $77 billion. Exports rose 24% to $33.8 billion. Foreign direct investment increased by 46.9%, with FDI accounting for 40.5% of total capital investment. For an economy that attracted only $4 billion in annual foreign investment in 2017, the surge to $42 billion by 2025 represents a fundamentally different scale of growth. This tenfold increase over eight years underscores a profound transformation in the nation's investment landscape.
The forum is scaling alongside the economy. Last year’s TIIF drew over 8,000 participants, including some 3,000 international delegates from 97 countries. Guests included Bulgarian President Rumen Radev, Slovak Prime Minister Robert Fico, heads of government from all Central Asian states, EBRD President Odile Renaud-Basso, and New Development Bank President Dilma Rousseff. The aggregate value of signed investment contracts and trade agreements reached $30.5 billion. Yet what best speaks to the platform’s maturity is not the number of signings but the conversion rate – the share of agreements that translate into operating assets is increasingly the metric that matters to returning investors.
The centrepiece of this year’s forum will be the Tashkent International Financial Centre (TIFC), established by presidential decree in March 2026. Behind the headline sits a specific institutional architecture: a special legal regime based on common-law principles, a dedicated financial services regulator, an arbitration centre (TIAC), and tax exemptions through 2076. TIFC is part of a global trend toward specialised financial hubs that offer international market participants a familiar legal environment and regulatory predictability. Its defining feature is integration within the country’s legal framework: the centre operates under a special legal regime rather than creating a separate jurisdiction, reducing regulatory fragmentation and simplifying engagement with the domestic economy. A panel session featuring leaders of major global financial centres and international investors operating in Uzbekistan will address the central question: what are the practical conditions under which TIFC can attract international market participants.
The TIIF 2026 programme is structured around four thematic pillars: investment resilience and capital protection mechanisms, financial infrastructure and capital market development, trade connectivity and logistics corridors, and energy transition and climate finance. Key sessions include a discussion of the regulatory framework for alternative investment funds (a legal basis for private equity and venture capital being adopted for the first time), a panel on the Middle Corridor and trans-Caspian logistics, a session on sovereign ratings across Central Asia, and a practitioner-led workshop on blended finance instruments in frontier markets. A dedicated arbitration and dispute resolution track features two panel sessions co-organised with the Tashkent International Arbitration Centre (TIAC), the British-Uzbek Legal Association (BrULA), and the British Embassy. Topics range from the institutional design of Uzbekistan’s arbitration ecosystem – including the innovative Dispute Avoidance Protocol (DAP) – to the country’s positioning within the global investment protection architecture: ISDS frameworks, bilateral investment treaty reform, and New York Convention enforcement.
The energy agenda warrants particular attention. Uzbekistan has set an ambitious target of raising the share of renewables in electricity generation to 54% by 2030. Currently, the country operates solar and wind facilities with a combined installed capacity exceeding 4 GW, with a project pipeline envisaging an additional 19 GW of green capacity. Alongside this, the public-private partnership mechanism continues to develop: as of early 2025, PPP agreements worth approximately $28 billion had been signed in the country. For investors, this represents a large, structured market with standardised PPA contracts and a clear entry mechanism – a subject that will be examined in detail during the forum’s energy panel.
TIIF 2026 retains its bilateral business forum format, reflecting the expanding geography of Uzbekistan’s economic partnerships. Confirmed platforms include business forums with the Republic of Korea, the United States, Croatia, Hungary, Turkey, and Albania, as well as a China–SCO countries investment dialogue; the lineup continues to grow as the event approaches. The plenary session featuring heads of state and government will set the tone for the business programme. Running in parallel is an exhibition of industrial and investment potential spanning approximately 6,000 sq m – in 2025, a comparable facility facilitated over 500 B2B and B2G meetings for 100 participating companies.
At the same time, the forum agenda implicitly flags unresolved challenges. The corporate governance session raises the question of transitioning from concentrated to dispersed ownership – a process without which the stock market will remain illiquid. The discussion of privatisation and state asset IPOs calls for a candid conversation about pacing and institutional quality. The responsible business conduct panel, anchored in OECD standards, recognises that tax incentives alone are insufficient for accessing institutional capital – what is needed is verifiable supply chain transparency and functioning National Contact Point mechanisms.
The business programme is complemented by networking formats: an FIC and EY business breakfast on digitalisation and AI, the annual SQB Investor Day, an ESG Award ceremony, and the European Business Evening. The informal component – an invitational tennis tournament, TIIF Open, and an evening run – is designed for delegates who prefer to build relationships beyond the conference hall. The anniversary evening concludes with a collaboration with the Stihia electronic music festival – a detail that captures the tone in which Uzbekistan presents itself to an international audience.
For Uzbekistan, TIIF has long ceased to be a showcase. It is a working instrument of investment policy, whose effectiveness is measured not by the number of signing ceremonies but by the volume of capital that actually enters the economy between forums. The fifth, anniversary edition takes place at a moment when the country is simultaneously launching an international financial centre, adopting an alternative investment funds law, and receiving a sovereign rating upgrade – a convergence that creates a window of opportunity for investors prepared to operate in frontier markets with a growing institutional base.
In December 2025, the President of Uzbekistan Shavkat Mirziyoyev will pay an official visit to Japan and take part in the high-level Central Asia + Japan Dialogue summit.
Since the establishment of diplomatic relations between the two states on 26 January 1992, the development of Uzbek–Japanese cooperation has been one of the key priorities of Uzbekistan’s foreign policy in the Asia-Pacific region. Based on mutual respect and trust, Tashkent and Tokyo are today building dynamic, multi-tiered cooperation covering politics, security, the economy, investment, innovation, education, culture, tourism, and interaction within regional formats.
Japan has traditionally been a key strategic partner in modernizing industrial and energy infrastructure, advancing digital transformation, promoting sustainable development, and supporting progress in education, science, culture, and humanitarian exchange.
Bilateral cooperation between Uzbekistan and Japan is rich and dynamic. A turning point in the development of the dialogue was President Shavkat Mirziyoyev’s official visit to Japan in December 2019, which gave a powerful impetus to the implementation of major joint economic, investment, and humanitarian projects and defined the long-term trajectory of bilateral engagement.
On the international stage, Uzbekistan and Japan interact effectively within international organizations and support each other’s positions. Over the years, Uzbekistan has supported Japan’s candidacy to UN bodies more than 40 times, while Tokyo has co-sponsored a number of UN General Assembly resolutions initiated by Uzbekistan, including resolutions on the Central Asian Nuclear-Weapon-Free Zone, education and religious tolerance, youth support, and the role of parliaments in achieving the Sustainable Development Goals.
The strategic nature of bilateral relations is also reflected in inter-parliamentary cooperation. Friendship groups operate within both national parliaments, regular meetings of the Uzbekistan–Japan Inter-Parliamentary Forum are held, mutual visits take place, and online consultations and negotiations are conducted.
Cooperation between the foreign ministries is likewise intensive. Since 2002, 19 rounds of political consultations have been held between the foreign ministries of the two countries.
A significant milestone in this regard was the first Strategic Dialogue between the Foreign Ministers of Uzbekistan and Japan, held on 25 August 2025 in Tashkent. This new format underscored the long-term nature of bilateral engagement and the readiness of both sides to expand mutually beneficial cooperation across all areas.
Regular contacts, telephone conversations, meetings on international platforms, and reciprocal visits by foreign ministers help coordinate positions on bilateral and multilateral issues and further intensify cooperation in other areas.
Honorary consuls of Uzbekistan in Japan also play an important role in promoting interstate cooperation, actively contributing to the advancement of economic and cultural initiatives.
Economic cooperation between Uzbekistan and Japan is developing dynamically and encompasses industry, energy, communications, infrastructure, innovation, transport, and the “green economy.” Trade between the two countries is conducted under the most-favored-nation regime, which has contributed to steady growth in bilateral trade turnover.
In 2024, the Uzbek–Japanese Trade House opened in Nagoya, demonstrating Japan’s growing interest in expanding trade ties with Uzbekistan.
Joint meetings of the Uzbekistan–Japan and Japan–Uzbekistan Committees on Economic Cooperation serve as the key coordination mechanism for bilateral economic projects.
Today, 84 joint ventures with Japanese capital operate in Uzbekistan, and 13 major Japanese companies have representative offices in the country, working in the oil and gas, chemical, engineering, logistics, education, and tourism sectors.
Japanese financial institutions play a strategic role in modernizing Uzbekistan’s economy. In January 2025, a loan agreement worth USD 150 million was signed in Tashkent with the Japan International Cooperation Agency (JICA) for the construction and equipping of the Republican Center for Neurology and Stroke — a modern project that will represent an important step in advancing national healthcare.
The cultural and humanitarian dimension of Uzbek–Japanese relations is distinguished by depth and emotional resonance. For more than two decades, the Uzbekistan–Japan Friendship Society, as well as the Fukushima–Uzbekistan Association and the Japan–Uzbekistan Association, have been actively operating. The Hiroshima Peace Stone installed in Tashkent and the Japanese Garden in the heart of the capital have become symbols of strong friendship between the peoples of Uzbekistan and Japan.
Uzbekistan regularly hosts Japanese cultural festivals, film screenings, performances, and exhibitions. In turn, Uzbekistan widely showcases its cultural traditions in Japan — from national cuisine and traditional garments to music and dance. Such exchanges form a unique basis for friendship between the two nations, fostering mutual respect and strengthening long-term cooperation.
Modern cultural projects have become the hallmark of humanitarian dialogue. In April 2022, Tokyo hosted the vibrant event “Spirit of the Silk Road — Bridge of Friendship,” and in 2024, the Japanese ensemble “Japanese Pearl” won third place at the traditional Boysun Bahori festival.
Education is one of the most rapidly developing areas of humanitarian cooperation. More than 2,500 students study Japanese language across seven universities in Uzbekistan. The Uzbek–Japanese Center for Human Resource Development operates in the country, the Japan Development Scholarship (JDS) program is being implemented, and joint projects are carried out with the universities of Tokyo, Nagoya, Tsukuba, Keio, and Toyohashi. Over 400 Uzbek students have received JDS scholarships, and about 2,500 specialists have undertaken internships in Japan. Exchange programs and faculty visits are active, and university rector forums are held.
Joint scientific research is being conducted in ancient history, archaeology, oriental studies, agriculture, and climate processes.
Japan provides financial and technical support to the development of healthcare in Uzbekistan. More than USD 60 million has been allocated for equipping medical facilities, training specialists, and supplying vaccines. Over 100 Japanese volunteers have worked in Uzbekistan, and more than 200 Uzbek medical professionals have completed internships in Japan.
Interregional diplomacy occupies an increasingly important place in bilateral relations. Sister-city partnerships have been established between Rishtan and Maizuru, Tashkent and Nagoya, and Samarkand Region and Nara Prefecture. Within this framework, Samarkand Days are regularly held in Japan, alongside cultural events in Nagoya.
Growing interest among Japanese visitors in Uzbekistan’s culture and history is stimulating cooperation in the tourism sector. The number of Japanese visitors to Uzbekistan continues to rise, facilitated by expanded air connectivity, active promotion of cultural tourism, and improved infrastructure.
Particular interest is drawn to Uzbekistan’s Buddhist heritage sites — Kara-Tepe, Fayaz-Tepe, Dalverzin-Tepe, and the temple complexes of Termez and its surroundings. Thanks to the research of Japanese scholars, these monuments have gained international recognition and attract visitors and experts from around the world.
Another vivid example of Japanese public interest in Uzbekistan was the success of the Uzbek pavilion, “Garden of Knowledge: Laboratory of the Future Society,” at EXPO 2025 in Osaka. Uzbekistan’s national pavilion was recognized as one of the most remarkable exhibits and was awarded a Gold Medal. The world premiere of the National Symphony Orchestra of Uzbekistan’s performance “Celestial Dance,” dedicated to bilateral friendship, captivated Japanese audiences.
The Central Asia–Japan Dialogue, whose first leaders’ summit President Mirziyoyev will attend during his visit, is a format that fully aligns with Uzbekistan’s regional priorities and reflects the growing political consolidation of Central Asian states.
The initiative to establish the Dialogue was first proposed by Japan’s Foreign Minister Yoriko Kawaguchi during her visit to Tashkent on 24 August 2004. The priority goals identified at the time included ensuring peace and stability in the region, supporting reforms and social development, strengthening intra-regional ties, enhancing Central Asia’s partnership with neighboring regions and the international community, and cooperating on pressing regional and global issues.
Today, the Dialogue has evolved into a stable platform for trusted interaction and discussions on sustainable development.
To provide the format with practical substance, regular working meetings of senior officials, sectoral expert consultations, and Tokyo Intellectual Dialogues are held. In recent years, the Economic and Energy Dialogues at the ministerial level, conducted in Tokyo in 2023–2025, have become particularly significant.
Infrastructure assistance has always been one of Japan’s priorities within the Dialogue. Japanese organizations such as JICA and Japan Bank for International Cooperation (JBIC) systematically participate in modernizing transport corridors, logistics hubs, roads, engineering facilities, airports, and rail infrastructure. These projects significantly increase regional connectivity and strengthen Central Asia’s role as a key bridge between East Asia, the Middle East, and Europe.
Japan, a global leader in digitalization and automation, actively shares its expertise with the countries of the region. For Uzbekistan, this cooperation is especially important: the country is rapidly developing its IT sector, creating IT parks and technology parks, launching digital economy programs, and attracting Japanese experts for training national specialists.
Given Japan’s long-standing leadership in environmentally sustainable development and energy-efficient technologies, environmental cooperation is also a central element of the partnership.
As the most populous country in the region and a major transport and logistics hub, Uzbekistan plays a central role in shaping the agenda of the Dialogue. In recent years, Uzbekistan has contributed significantly to strengthening the practical content of cooperation by initiating new projects across various fields.
Over the past two decades, the Dialogue has proven itself as a stable and in-demand mechanism of partnership that allows the countries of the region and Japan to build systematic cooperation across a wide range of areas.
Thus, the upcoming visit of President Shavkat Mirziyoyev to Japan and his participation in the Central Asia + Japan Summit will deepen both bilateral and multilateral political dialogue, expand economic and investment cooperation, and strengthen educational and scientific ties. Undoubtedly, the active efforts of the President to expand mutually beneficial partnerships will once again confirm Uzbekistan’s commitment to regional integration and open, constructive international dialogue.
Today, civil society institutions, particularly non-governmental non-profit organizations (NGOs), play an active role in Uzbekistan's development and the implementation of the “Uzbekistan – 2030” strategy. It is impossible to build a new Uzbekistan without organizing the activities of NGOs, the most important institution of civil society, according to democratic principles. On this basis, effective work is being done to support NGOs and civil society institutions, strengthen social partnerships with state bodies, implement effective public oversight, and improve the legal framework governing this area.
As a result of the measures implemented, the legal and regulatory framework has been improved to provide legal guarantees for NGOs while also meeting modern democratic requirements and international standards. The laws "On non-governmental non-profit organizations," "On guarantees for the activities of non-governmental non-profit organizations," and "On public oversight," as well as the Presidential Decree "On approval of the civil society development concept for the period 2021-2025" and a number of Governmental decrees, have all been adopted.
The civil society development concept for the period 2021-2025 aims to increase state support for civil society institutions in the form of subsidies, grants, and social orders by 1.8 times, as well as increase the volume of allocated funds to 70 billion soums by 2025.
A number of goals, objectives, and indicators related to the further development of civil society are set out in conceptually significant documents such as the Strategy for Action, the Development Strategy of New Uzbekistan for 2022-2026, and the "Uzbekistan - 2030" Strategy. Upon that basis, it is worth noting that the State programmes adopted annually include provisions for further strengthening the activities of civil society institutions and NGOs.
The chapter titled "Civil society institutions" and the term itself were included for the first time in the new version of the Constitution adopted through a referendum in 2023.
It should be mentioned that the President of Uzbekistan prioritizes civil society institutions and NGOs in his publications, speeches, and reports. Shavkat Mirziyoyev's book titled "Strategy of New Uzbekistan" includes a separate paragraph titled "Free and Open Civil Society" and it includes comments on priority areas for civil society development as well as proposals for implementing a number of tasks based on a thorough examination of relevant national legislation, law enforcement practice, and best foreign experience.
According to the figures, there were only 95 NGOs operating in the country on January 1, 1991; by January 1, 2000, there were 2,585, by January 1, 2016, there were 8,417, and by January 1, 2024, there were over 9,000. These NGOs are critical in protecting individuals' and legal entities' rights and legitimate interests, as well as democratic values and the achievement of social, cultural, and educational objectives.
It is also important to note the dynamic growth of support and financial sustainability provided by NGOs. In particular, 513.8 billion soums were allocated from the state budget to support 2,074 NGOs and other civil society institutions between 2017 and 2023. If 12.3 billion soums were allocated in 2017, the figure was 226.4 billion in 2023. It is planned to allocate 1.8 trillion soums in 2024.
Furthermore, the scope of state support for civil society institutions has been broadened, and public funds to support civil society institutions have been established through the local Councils (Kengash) of People's Deputies. The legal basis for allocating funds from the local budget to support civil society institutions in the regions has been strengthened, and social projects are funded through these channels.
It should be acknowledged that favourable conditions are one of the most important factors in the effective operation of non-governmental organizations. In 14 regions of our republic, "Houses of non-governmental non-profit organizations" have been established, housing approximately 500 NGOs and providing them with the necessary office equipment, furniture, items, equipment, and other tools. As a result, the NGOs' problems with the building were resolved, and their socially beneficial activities were resumed. In particular, newly established NGOs carrying out their activities in socially significant spheres were accommodated in these buildings under the right of free use.
To regularly improve the knowledge and skills of NGOs' managers based on the best foreign experience, the Academy of Public Administration under the President of the Republic of Uzbekistan organizes training courses on a special 72-hour training programme. To date, 367 NGO leaders and managers have attended advanced training courses. These advanced training courses are expected to train 134 NGO managers by 2024.
It should be noted that NGOs express proposals and initiatives to improve State programs and legislation in their field, as well as carry out public control measures over the implementation of Regional socioeconomic development programmes and State programmes.
As mentioned above, the 83rd goal of the “Uzbekistan – 2030” strategy prioritizes the expansion of free civil society and media activities, transforming Uzbekistan into a hub for civil society development. It specifically highlights the tasks of increasing the number of projects implemented within the framework of social partnership by at least threefold and increasing the number of NGOs participating in government programs to at least 80.
To summarize, civil society institutions and NGOs are genuine supporters of state bodies and organizations in the process of reforms, sociopolitical and socioeconomic changes, achievement of strategic goals, and serving as a social bridge between society and government.
Anvarjon Mirkomilov,
Head of Department,
Development Strategy Center
On 17–19 February, the President of Uzbekistan, Shavkat Mirziyoyev, will pay a visit to the United States and take part in the inaugural meeting of the Peace Council, a new international body established as a multilateral platform to promote dialogue and the peaceful resolution of pressing global and regional conflicts.
The Peace Council was founded in January 2026 at the World Economic Forum in Davos, where the founding charter was formally signed in a ceremony attended by heads of state and government, as well as representatives of several founding countries.
Launched earlier this year, the initiative has garnered the support of a number of states, including Uzbekistan, which joined as a founding member, thereby reaffirming its commitment to the principles of peaceful diplomacy, multilateral engagement, and shared responsibility for maintaining international stability.
The establishment of the Peace Council represents a logical continuation of the international community’s efforts to develop effective mechanisms for conflict prevention and to seek political and diplomatic solutions to the most acute crises of our time, particularly in the Middle East.
Uzbekistan’s participation in the creation of this structure reflects Tashkent’s consistent foreign policy course aimed at promoting dialogue, respect for international law, and the rejection of force-based scenarios. The country’s position on the Palestinian issue—grounded in support for a just and sustainable peace settlement in accordance with United Nations resolutions—has gained additional international resonance within the framework of this initiative.
The upcoming participation of the Uzbek head of state in the first meeting of the Peace Council also aligns with the recent intensification of Uzbek–American political dialogue. Over the past six months, high-level contacts between Tashkent and Washington have significantly increased, signaling a qualitatively new stage in bilateral relations.
In September of last year, the President of Uzbekistan visited New York to attend a regular session of the United Nations General Assembly, where he held meetings with world leaders and heads of international organizations and discussed key issues on the global and regional agenda.
Further momentum was generated in early November 2025 during the Uzbek President’s working visit to the United States, which included talks with the U.S. President, as well as meetings with representatives of the American establishment, Congress, and business circles. Particular attention during the visit was devoted to strategic partnership, economic cooperation, investment engagement, and regional security, including the “C5+1” format, viewed by both sides as an effective mechanism for coordinating efforts in Central Asia.
Contacts between Tashkent and Washington have been maintained across various channels, including telephone conversations and interagency cooperation. An additional indication of growing mutual trust has been the expansion of economic dialogue and the establishment of new business cooperation platforms, reflecting a shared interest in deepening practical engagement. In the United States, Uzbekistan is increasingly perceived as a reliable, predictable, and responsible partner pursuing a balanced and pragmatic foreign policy.
Uzbekistan’s participation in the Peace Council is thus seen as further evidence of the country’s growing international standing and recognition of its constructive role in global affairs. For Washington, it also confirms that Tashkent is an important partner in advancing initiatives aimed at strengthening peace, security, and sustainable development across Eurasia and beyond.
Amid the intensification of political dialogue, Uzbek–American cooperation continues to expand across key areas. These include collaboration in regional security, support for economic reforms in Uzbekistan, the development of trade and investment, and the deepening of humanitarian and educational ties. Joint projects in energy, digitalization, infrastructure, and human capital development are laying a solid foundation for a long-term partnership.
In sum, the forthcoming participation of the President of Uzbekistan in the inaugural meeting of the Peace Council not only underscores the country’s active role in shaping a new architecture of international dialogue, but also complements the positive trajectory of Uzbek–American relations. The visit to the United States will undoubtedly contribute to elevating interaction between Tashkent and Washington to a stable strategic level, serving the interests of both sides and the broader goal of strengthening peace and stability in the region and worldwide.
«Dunyo» IA
The history of mankind demonstrates that great civilizations rest upon a synthesis of intellectual achievements, spiritual values and cultural heritage. Since ancient times, Central Asia has served as a pivotal hub of science, art and philosophy, shaping the foundational elements of a civilization that has influenced the entire world. Today, this profound potential is embodied in a monumental project - Center of Islamic Civilization in Tashkent. This institution does not merely preserve historical artifacts; it serves as a living platform for science, education and spiritual enlightenment.
The project symbolizes a new stage in Uzbekistan’s development - the Third Renaissance - where the past, present and future are unified through intellectual and cultural heritage. The Center of Islamic Civilization demonstrates how spiritual and educational values can serve as the foundation for national revival and international cooperation, attracting researchers, tourists and the global public.
Amir Temur occupies a distinguished place in world history as an outstanding statesman, military commander, and the creator of one of the largest empires of his time. The late 14th and early 15th centuries were a period of profound political transformations; against this backdrop, Temur succeeded in uniting vast territories stretching from India to the Middle East, establishing a powerful state with a resilient system of governance.
Diplomacy played a pivotal role in his policy. Amir Temur established contacts with European nations, including France, England and Castile; his victory over the Ottoman Sultan Bayezid I at the Battle of Ankara (1402) shifted the balance of power between the East and the West. The Spanish Ambassador Ruy González de Clavijo, who visited Samarkand in 1404, noted the state’s high level of organization, its advanced infrastructure and profound respect shown to foreign envoys.
Samarkand became the capital of the empire, evolving into a cultural and economic hub where the trade routes of China, India, Europe and the Middle East intersected. The city was distinguished by its multi-ethnic population, a sophisticated handicraft system, magnificent architecture, well-tended gardens, advanced irrigation systems and bustling commercial streets.
Amir Temur also established a unique legal foundation for his empire. According to the “Institutes of Temur” (Tuzuk-i-Temuri), the state rested upon four pillars: counsel, discussion, a deliberate plan and decisiveness. Nine-tenths of state affairs were resolved through consultation and prudent measures, and only one-tenth by the sword. This principle reflects the priority of diplomacy and legal resolutions over military force, emphasizing the balance of justice and resolve in governance.
Temur’s social policy was aimed at ensuring order, justice, and economic growth. He supported handicrafts, trade and agriculture, while maintaining strict oversight over officials and punishing abuses of power. Simultaneously, he cared for the welfare of the populace by resettling skilled artisans and creating the necessary conditions for the sustainable development of the state.
Following the passing of Amir Temur, his successors - the Timurids - continued the development of the state, placing particular emphasis on science, culture and education. This period is referred to as the Second Renaissance of Central Asia, characterized by an intellectual and artistic flourishing comparable to the European Renaissance. The most prominent figure of this era was Mirzo Ulugbek, who established one of the preeminent observatories of his time and made significant contributions to astronomy, mathematics, architecture and the arts. His scholarly works influenced not only Islamic but world civilization, laying the groundwork for future scientific discoveries.
Today, the Timurid legacy is preserved within the Center of Islamic Civilization in Tashkent, which houses unique exhibits demonstrating the cultural and spiritual richness of that era. Among them is a fragment of the Quran transcribed by the calligrapher Umar Aqta for Amir Temur, widely known as the “Baysunghur Quran”. This manuscript represents a triumph of calligraphy over ornamentation: the harmonious, powerful forms of the letters and the precise flow of ink create a magnificent visual impact. The Center preserves a single line of this Quran, allowing visitors to experience the grandeur of Timurid art and understand how the culture of letters shaped the spiritual identity of the state.
A place of particular distinction is held by the Timurid/Mughal talismanic shirt - a protective garment crafted in court workshops to provide the wearer with divine safeguarding and blessings. The dense cotton is entirely covered with Quranic inscriptions, including the Shahada and the 99 Names of Allah, while the back features a verse from Surah Yusuf (12:64): “Indeed, Allah is the best guardian, and He is the most merciful of the merciful”. This shirt symbolizes Divine protection and the wearer’s spiritual connection with the Almighty, reflecting the religious depth and artistic mastery of the Timurid era.
Finally, the key to the sacred Kaaba (dated approximately 1425-1426), crafted from brass with silver inlay and inscriptions, preserves the historical memory of the era and its spiritual significance. Together with other exhibits, it enables contemporary visitors to experience the intellectual and cultural ascent of the Second Renaissance and to realize how the spiritual and educational achievements of the past established the foundation for the development of civilization.
Center of Islamic Civilization in Tashkent is not merely a museum but a living educational platform. The architectural concept of the complex harmoniously integrates Timurid traditions with modern technologies, symbolizing the unity of the past and the present. Its 65-meter dome and four golden gates represent the convergence of all regions of Uzbekistan, evoking a sense of monumentality and historical continuity.
Center’s exposition is structured around the principle of “Civilization – Personalities – Discoveries” and spans key historical epochs: the pre-Islamic period, the First and Second Renaissances, Timurid era and contemporary New Uzbekistan. Visitors can not only observe unique artifacts but also interact with them through VR and AR technologies, holograms and artificial intelligence, making history vibrant and tangible.
Center integrates a diverse range of educational and cultural functions: interactive laboratories, including the “1001 Inventions” for children, a library with a collection of over 200,000 volumes, calligraphy schools, and digital archives. It also serves as a hub for offices of international organizations, including UNESCO, ICESCO, IRCICA and OCIS. This creates a space where traditions and innovations coexist and complement each other, stimulating the advancement of science and culture.
The Timurids and the Baburids - including the fragment of the Quran transcribed by Umar Aqta, the talismanic shirt and the key to the Kaaba - are seamlessly integrated into the exposition, allowing visitors to trace how this historical heritage shaped the intellectual and spiritual potential of the region. Through this approach, Center becomes not merely a repository of knowledge, but a living bridge between the Second and the Third Renaissance, ensuring the continuity of traditions and inspiring new generations toward scientific, cultural and spiritual achievements.
The legacy of Amir Temur and his successors plays a pivotal role in the modern world, particularly in shaping the cultural identity of Uzbekistan and fostering international cultural dialogue.
Firstly, it serves as the cornerstone of national identity. The history of the Timurids demonstrates the high level of statehood, science and culture of the region, while their legal and social traditions, reflected in the “Institutes of Temur”, provide an exemplary model of the balance between justice and resolve in governance.
Secondly, the diplomatic experience of Amir Temur remains highly relevant today. His ability to synchronize military strength with flexible and respectful diplomacy serves as an enduring model for contemporary foreign policy and international cultural engagement.
Thirdly, the cultural heritage of the Timurid dynasty fosters international exchange and tourism development. Architectural monuments in Samarkand, Shakhrisabz and other cities attract scholars and visitors from around the world. Exhibits at the Center of Islamic Civilization - including a Quran fragment transcribed by Umar Akta, talismanic Baburid shirt and the key to the Kaaba - allow contemporary visitors to experience the spiritual and intellectual power of the Second Renaissance firsthand.
In this manner, Center of Islamic Civilization becomes the cornerstone of the Third Renaissance, bridging the past and the present while inspiring a new generation toward scientific and cultural achievements.
Center of Islamic Civilization in Tashkent is not merely a museum, but a living bridge between the past and the future. It integrates the spiritual, cultural, and educational accomplishments of Central Asia, creating a space for scientific research, learning and international cooperation.
The legacy of Amir Temur and the Timurids, reflected in the exhibits and the architectural concept of the Center, demonstrates how spiritual and intellectual values can serve as the foundation for national revival. Quranic fragments, talismanic shirts, ceremonial keys and architectural symbols embody the ideas of Divine protection, science and enlightenment, creating a unique cultural space.
The project serves as the cornerstone of the Third Renaissance of New Uzbekistan, inspiring the modern generation toward achievements in science, education and spiritual sphere. Center of Islamic Civilization is evolving into an intellectual and cultural locomotive for the region, fostering the unification of humanity on the path to peace, harmony, and progress, following the great divine command of “Iqra” - “Read in the name of your Lord”.
Dunyo IA
PRESS RELEASE
International Scientific and Practical Conference dedicated to the 690th Anniversary of the birth of Sahibkiran Amir Temur
“The image of Sahibkiran Amir Temur,
having become a symbol of our
national statehood, continues to provide
immense spiritual strength to our people
in realizing our identity and restoring
our ancient traditions and values”,
Shavkat Mirziyoyev
An International Scientific and Practical Conference titled “The role and significance of the civilization of Amir Temur and the Timurids in world history and culture” was organized in the city of Tashkent to mark the 690th anniversary of the birth of Sahibkiran Amir Temur.
This prestigious forum was held at the Center of Islamic Civilization in Uzbekistan, established at the personal initiative of President Shavkat Mirziyoyev.
This international scientific and practical conference serves as a vital platform for scholarly dialogue, aimed at the profound study of national heritage and its extensive promotion on a global scale. It further seeks to re-evaluate the scientific and spiritual achievements of the Timurid era through the lens of modern science.
The conference was organized at the initiative of the Government of Uzbekistan, in cooperation with several ministries, agencies, research institutions, and international organizations. It featured the participation of prominent local and foreign scholars, historians, Orientalists, art historians, archaeologists and political scientists, alongside distinguished faculty members from prestigious universities.
OPENING CEREMONY
The solemn opening ceremony of the conference was organized at the highest level. It was attended by prominent state and public figures, leading scholars, representatives of international organizations and members of the diplomatic corps. In their addresses, the speakers specifically emphasized the persona of Amir Temur and his pivotal role in establishing traditions of statehood, justice and a strong centralized system of governance.
Furthermore, it was noted that science, culture, and art flourished during the Timurid era, and this legacy continues to serve the progress of world civilization to this day. The conference participants emphasized that such events are of paramount importance for comprehending historical heritage and transmitting it to future generations.
INTERNATIONAL PARTICIPATION
The conference featured leading scholars, historians, Orientalists, archaeologists and political scientists from numerous countries, including Türkiye, France, Italy, Germany, the United States, the United Kingdom, Russia, China, India, Iran, Kazakhstan and others, who engaged in an extensive exchange of scholarly perspectives.
In their reports, the participants presented the findings of scientific research on the history of the Timurid era, public administration, science, culture, architecture and international relations. Foreign experts placed particular emphasis on the global significance of this legacy and its role in the cultural dialogue between European and Asian civilizations.
KEY THEMES AND DISCUSSIONS
The following priority topics were extensively discussed during the conference:
OBJECTIVES AND SIGNIFICANCE
The primary objective of the conference is to facilitate a comprehensive, evidence-based study of the legacy of Amir Temur and the Timurid era, to further elucidate its role in world civilization and to strengthen international scientific cooperation.
In addition to promoting historical heritage, this event served to educate the younger generation in the spirit of respect for national values, while stimulating scientific research and fostering the formation of new academic disciplines.
At the conclusion of the conference, a set of scientific findings, proposals, and recommendations was developed. It was emphasized that these results will serve as a vital strategic foundation for the future study and promotion of the Timurid legacy.
Three decades of dialogue between Uzbekistan and the Republic of Korea have built a strong foundation of trust, supported by cooperation ranging from major industrial facilities and modern healthcare to education programs and digital government. Today, this partnership is moving to the next level.
The Central Asia–Republic of Korea format offers an opportunity to combine bilateral achievements with the scale of the five countries’ collective market, moving from individual projects toward integrated technology value chains, joint raw material processing, and workforce development for the new economy.
Uzbekistan and the Republic of Korea established diplomatic relations in January 1992. From the outset, ties developed through regular political dialogue at the highest level. A series of reciprocal presidential visits in the 1990s and 2000s established the legal framework for cooperation, opened the door to Korean investment, and strengthened cultural and people-to-people ties. Relations were elevated to a strategic partnership in 2006, and in 2014 the two countries reaffirmed their commitment to further developing and deepening that partnership.
This foundation gave rise to projects that became symbols of bilateral cooperation. One of the most prominent is the Ustyurt Gas Chemical Complex, an approximately $4 billion facility commissioned in 2016. It demonstrated the ability of Uzbekistan and Korean companies to jointly deliver capital-intensive, technologically complex projects, extending cooperation beyond equipment supplies and trade in finished goods.
A new phase began with President Shavkat Mirziyoyev’s state visit to Seoul in November 2017. The visit resulted in a Joint Declaration on the Comprehensive Deepening of the Strategic Partnership and more than 60 documents. The agenda covered e-commerce, support for Uzbekistan’s accession to the World Trade Organization, a knowledge-sharing program, financing from the Export-Import Bank of Korea, and cooperation with Uzbekistan’s Fund for Reconstruction and Development.
The President of Uzbekistan proposed establishing a Korean Business Center as a permanent platform to support businesses and investment projects. Even then, it was clear that relations needed to rest not only on government contacts but also on lasting institutional support for business cooperation.
President Moon Jae-in’s reciprocal state visit to Tashkent in April 2019 marked a major step forward, as the two countries announced a special strategic partnership. The package of agreements and projects exceeded $12 billion, covering investment protection, science and innovation, the peaceful use of outer space, healthcare, energy, mechanical engineering, textiles, and pharmaceuticals.
During President Shavkat Mirziyoyev’s next state visit to the Republic of Korea in December 2021, the agenda centered on three priorities: green development, digitalization, and stronger social protection. His initiatives included establishing an Uzbek–Korean semiconductor and electronics cluster in Tashkent Region that would combine manufacturing, research, and specialist training; creating a regular dialogue between universities and a forum of rectors; and expanding programs run by the Korea International Cooperation Agency (KOICA).
The lending ceiling under the Economic Development Cooperation Fund (EDCF) was increased to $1 billion for the period through 2023.
The state visit of President Yoon Suk Yeol of the Republic of Korea in June 2024 brought the partnership’s technological focus into sharper relief. The two sides agreed to develop strategic cooperation in critical minerals, renewable energy, transport, agriculture, healthcare, pharmaceuticals, and education. A new package of investment agreements worth $9.6 billion was assembled, while the EDCF lending ceiling for 2024–2027 was raised to $2 billion.
At their meeting in New York in September 2025, President Shavkat Mirziyoyev and President Lee Jae Myung of the Republic of Korea agreed to prepare a long-term program for technological and industrial partnership. Building on earlier cooperation, the proposed program would cover advanced processing of critical raw materials, chemicals, mechanical engineering, agriculture, transport, aviation, and biotechnology.
Today’s challenges increasingly require solutions that extend beyond national borders. Transport corridors do not end at border checkpoints, resilient supply chains depend on multiple interconnected links, and major investors need market scale and compatible regulatory frameworks. The Central Asia Plus format is therefore becoming an increasingly practical tool for development.
This trend has already taken shape as an established framework for cooperation. The C5+1 dialogue between the United States and the five Central Asian countries has operated since 2015 and reached the leaders’ level for the first time in September 2023. In April 2025, Samarkand hosted the first Central Asia–European Union summit, where relations were elevated to a strategic partnership and a €12 billion Global Gateway investment package was announced.
In December 2025, Tokyo hosted the first Central Asia Plus Japan leaders’ summit, although the dialogue itself dates back to 2004. The Republic of Korea has engaged with the region through a multilateral format since 2007. This mechanism is now also being elevated to the highest political level.
The first Central Asia–Republic of Korea summit is scheduled for September 16, 2026, in Seoul. The five countries of the region offer an interconnected market, shared transport routes, and complementary industrial capabilities. Four areas are of particular interest for bilateral discussions: transport and logistics; water, energy, and climate; critical minerals; and digital standards, education, and the mobility of skilled professionals.
The forthcoming summit’s agenda already reflects this logic. Discussions are being prepared on industrial cooperation, critical minerals, artificial intelligence, digital manufacturing, energy, and supply chain resilience. The Republic of Korea has also proposed regular C5+Korea meetings of industry ministers and a business summit.
The economic foundations for taking trade to the next level are already in place. According to calculations by the Center for Economic Research and Reforms (CERR), trade between Central Asian countries and the Republic of Korea grew by a factor of 1.7 between 2017 and 2025, reaching $5.7 billion. The region’s exports totaled approximately $1 billion, while imports amounted to $4.7 billion.
Trade has expanded considerably but remains uneven. Central Asia mainly purchases Korean machinery, equipment, vehicles, electronics, chemicals, and pharmaceuticals, while its own presence in the Korean market remains limited.
Kazakhstan accounted for $3.2 billion, or approximately 56% of the region’s trade with Korea, and Uzbekistan for $1.7 billion, or just over 30%. Together, the two countries represented approximately 87% of Central Asia’s trade with Korea. Trade with Kyrgyzstan, Tajikistan, and Turkmenistan amounted to $508 million, $196 million, and $45.2 million, respectively.
Investment flows also point to the availability of capital for the next stage of cooperation. In 2025, total direct investment and loans from the Republic of Korea to the region exceeded $1.5 billion. Kazakhstan received approximately $1 billion and Uzbekistan $474.5 million. More than 1,700 enterprises with Korean capital operate across Central Asia.
In 2025, trade between Uzbekistan and the Republic of Korea totaled $1.7 billion. Korea ranked fifth among Uzbekistan’s trading partners in both total trade and imports. Since 2017, bilateral trade has increased by 25.2%, or $350.2 million.
Exports and imports, however, moved in opposite directions. Uzbekistan’s exports declined from $143.3 million to $61.7 million, while imports from Korea rose from $1.2 billion to $1.68 billion. This gap largely reflects the investment-driven nature of the relationship: Uzbekistan imports equipment and production lines to modernize its industries. In 2025, machinery and transport equipment accounted for 60.7% of imports from Korea, chemicals for 12.8%, and manufactured goods and finished products for more than 16%. In other words, a substantial share of the trade deficit is associated with upgrading production capacity rather than importing consumer goods.
Services accounted for 67.6% of Uzbekistan’s exports to Korea in 2025, followed by raw materials at 13.6%, food products at 5.3%, and finished goods, including textiles, at 3.7%.
Meanwhile, preliminary figures for the first half of 2026 show that bilateral trade increased by 11.5% to $940 million. Exports rose by 21.6% to $33.3 million, while imports grew by 11.2% to $906.8 million.
The potential to expand exports is substantial. The Republic of Korea imports hundreds of billions of dollars’ worth of goods each year, including clothing, cables and wires, footwear, jewelry, polymers, plastics, fertilizers, cotton fabrics, copper pipes, home textiles, nuts, and fresh fruit. Uzbekistan already has an established production base in many of these categories. The constraints often lie in meeting quality certification requirements, order volumes, packaging standards, and delivery schedules. These factors need to be taken into account when developing future export strategies.
As of August 1, 2026, Uzbekistan was home to 730 enterprises with Korean capital, including 186 joint ventures and 544 wholly Korean-owned companies. Between 2016 and 2025, direct investment and loans from Korea approached $2 billion, with $474.5 million received in 2025 alone.
Korean investors are active in oil and gas, chemicals, automotive manufacturing, textiles, pharmaceuticals, agriculture, energy, healthcare, transport, construction, and services.
The next phase of investment could build on this foundation by expanding local production, training engineers, and developing industrial clusters. Korean expertise can help establish standards, while the regional market provides the scale needed to launch major new industrial projects and joint production initiatives.
Artificial intelligence could play a particularly important role. Joint pilot projects between Korean technology companies and Uzbek enterprises could quickly demonstrate measurable economic benefits and subsequently be scaled up across other Central Asian countries.
The same logic applies to critical minerals. Central Asia needs to move beyond raw material supplies by developing geological exploration, mineral processing, and the production of high-purity materials and components. Joint projects could combine Korean technology and financing with the region’s resource base.
Bilateral and regional cooperation should be deliberately developed as complementary tracks. The Uzbekistan–Republic of Korea format is well suited to launching targeted local projects, while the Central Asia–Republic of Korea format offers a more effective platform for coordinating transport corridors, supply chains, cross-border standards, and projects that require access to all five markets.
Success at either level reinforces the other: strong national projects can serve as models for the wider region, while regional scale enhances their commercial appeal.
Relations between Uzbekistan and the Republic of Korea are entering a phase in which accumulated trust must translate into a more technologically advanced and diversified economy. Over three decades, the two countries have progressed from establishing diplomatic relations to building a special strategic partnership, delivering major industrial and social infrastructure projects and fostering trust at the highest political level.
The forthcoming Central Asia–Republic of Korea summit could bring regional scale to this progress. It offers an opportunity to turn natural resources into advanced materials, a strategic transit location into efficient logistics services, and a young population into a strong base of human capital. With the region’s most extensive history of cooperation with Korea, Uzbekistan can both benefit from the new format and help shape its agenda and serve as a major center for its implementation.
Developing transport services, industrial zones, and export infrastructure will enable Korean companies to operate across several countries in the region, while helping Uzbek enterprises join international supply chains and enter new markets.
Edvard Romanov
Center for Economic Research and Reforms
The current and future development of Uzbekistan's economy is directly determined by the freedom of the private sector, equal and favorable opportunities created for businesses, and robust legal protections. The Open Dialogue between the Head of State and entrepreneurs, which has become a solid tradition in our country, is not merely another routine event. Instead, it serves as the primary mechanism of a direct, pragmatic, and highly effective strategic alliance between business and government. This direct platform enhances the country's investment attractiveness while playing a crucial role in supporting national businesses and unlocking new opportunities.
Practical Results and Benefits
Direct, face-to-face interaction with the President has emerged as the most powerful driver for fundamentally improving the country's business climate. The systemic decisions made and incentives granted within this platform have delivered tangible, practical benefits to business entities rather than remaining on paper. Below are select outcomes demonstrating the impact of these strategic initiatives:
Transformation of the Financial and Credit System
The government optimized the direct financing procedures for large state-owned enterprises, shifting the focus toward directing banking resources to private sector projects. The Business Development Bank, microfinance institutions and banks, factoring services, venture capital funds, and industrial support funds were established. A state guarantee system for entrepreneurs' bank deposits was also introduced.
Land, Property, and Infrastructure Reform
Land parcels and real estate were transformed into full-fledged economic assets. Taxes on land acquired through auctions were adjusted, payment installment periods were extended, and incorporating land into charter capital was permitted. Changing the intended use of land was simplified via a unified classifier. Energy limits were regulated, and private capital was attracted to the development of mineral deposits and subsoil resources.
Foreign Trade, Logistics, and Exports
The economy pivoted toward WTO accession and integration into global supply chains. Monopoly and exclusive rights in foundational sectors such as metallurgy, chemicals, and energy were abolished. Subsidies for pre-export financing, logistics, and international certification were expanded. The "E-logistika" platform was launched to ensure transparent distribution of transport permits, and the VAT refund mechanism for export operations was simplified.
IT, Services, and Innovation
The state implemented joint-equity co-financing models and patent fee reimbursement mechanisms to boost IT sector development, artificial intelligence, and startups. A VAT cashback mechanism and corporate income tax reductions were introduced for the catering, tourism, and hospitality sectors. Certification and consulting services in construction and tourism were transitioned to the private sector.
Liberalization of Tax and Oversight Systems
Tax administration was enhanced: the VAT "tax-gap" coefficient was abolished, and a transparent rating system for compliant businesses was introduced. A moratorium was declared on the application of new penalties. Commercial banks were prohibited from forcing collateral into unauthorized liquidation and unlawfully suspending business activities.
Legal Protection and Local Manufacturing
The authority of state bodies to confiscate property without a court order or cancel land allocation decisions was restricted. The statute of limitations for tax disputes was reduced to three years. To support domestic manufacturers, a "local content" requirement in public procurement and a system of long-term guaranteed orders were established.
Representatives of the business community feel the real impact of the platform in their daily operations.
Shavkat Kholboev, head of the "AslCab" enterprise, states: "Based on proposals submitted during last year's Open Dialogue, an automated electronic VAT refund system for exports was launched. Consequently, our enterprise recovered approximately 10 to 12 billion UZS in working capital within a short period, channeling these funds into purchasing raw materials and expanding our export footprint."
Firat Deniz, a foreign investor and owner of a major textile enterprise, emphasizes: "The Open Dialogue with the President is one of the most effective platforms globally for directly hearing and protecting investor interests. My proposal to create additional opportunities for enterprises exporting over $50 million annually was immediately supported and implemented."
Preparations for the 6th Open Dialogue: Numbers and Analysis
In preparation for the upcoming 6th Open Dialogue, a Republican Headquarters comprising representatives from over 50 ministries and agencies was established on May 15, operating around the clock (24/7). Nearly 6,000 inquiries have been received via call centers and official bots. As part of the processing efforts, over 4,200 inquiries were resolved positively, while approximately 1,800 remain under review.
By topic, the inquiries include: over 940 regarding strengthening legal protections for entrepreneurs, over 910 on banking issues, over 750 on production space allocation, nearly 680 on simplifying business regulations, over 660 on infrastructure provision, nearly 530 on tax system improvements, and over 480 on financial support for business. Regionally, the highest volume of inquiries originated from Kashkadarya region, Tashkent city, Samarkand region, and Fergana region.
Additionally, responsible organizations conducted over 750 meetings attended by more than 8,800 entrepreneurs, raising over 3,500 proposals and issues. Furthermore, over 130 meetings organized by the Business Ombudsman and the Chamber of Commerce and Industry brought together more than 5,700 entrepreneurs who raised nearly 1,500 issues. Expert groups are analyzing 300 systemic problems identified during these sessions, the majority of which cover: simplifying business regulation (nearly 70), improving the tax system (60), and foreign economic activity and investment (over 50). Proposals are being developed in collaboration with relevant ministries and agencies to address these issues fundamentally and improve current legislation.
Abdumannop Buriev, Business Ombudsman under the President of the Republic of Uzbekistan for the Protection of Rights and Lawful Interests of Entrepreneurs, highlighted priority areas in the sector: "We focus primary attention on building a preventive system that averts issues before they arise and protects entrepreneurs' rights early on. Through extensive digitization and the integration of electronic resources into a unified network, potential risks are eliminated in advance. The live dialogues held ahead of the main event create a solid foundation for modern tools that protect business from both legal and digital standpoints."
Davron Vakhabov, Chairman of the Chamber of Commerce and Industry of Uzbekistan, emphasized the positive momentum: "Today, the private sector has become the primary driving force of our national economy. Regular open dialogues and the systemic decisions arising from them offer invaluable opportunities for entrepreneurs to expand their operational scale, increase export capacity, and strengthen competitiveness in international markets."
Preparations for the President's upcoming Open Dialogue are entering their final stage. Every submitted proposal and inquiry serves to further improve the business environment in our country. We invite all entrepreneurs and investors to actively participate in shaping the agenda for the upcoming high-level dialogue. Inquiries and proposals are accepted 24/7 via phone numbers 1100 and 1094, web platforms business.gov.uz and my.chamber.uz/ochiq_muloqot/oz, as well as Telegram communication channels @biznesombudsmanrasmiy_bot and @ochiqmuloqot2026_bot.