The Center of Islamic Civilization in Uzbekistan has been recognized as the “Best Museum of the Turkic World” by the International Organization of Turkic Culture (TURKSOY), reports Dunyo IA correspondent.

Sultan Raev, Secretary General of the organization, announced this during an international scientific conference dedicated to the 690th anniversary of Amir Temur's birth.

Constructed in a short period at the initiative of the President of Uzbekistan, Shavkat Mirziyoyev, the Center is highly regarded today not only as a unique architectural masterpiece but also as a symbolic bridge connecting Eastern and Western civilizations. Through its concept, content, and scientific-educational focus, it vividly demonstrates the creative and enlightening potential of Islamic civilization.

While ceremoniously presenting the “Best Museum” certificate to the leadership of the Center, Secretary General Sultan Raev specifically highlighted President Shavkat Mirziyoyev's policy aimed at the profound study and global promotion of the Islamic civilization's heritage:

-  Thanks to the special attention of Honorable President Shavkat Mirziyoyev, the legacy of Amir Temur and Islamic culture are being deeply explored today. New scientific and artistic works are being created and modern scientific-educational centers are being established. I can say with confidence that there is no comparable center in the world. This is, undoubtedly, a vivid manifestation of the ideas of the Third Renaissance. At times, the world limits itself to mere statements. However, Uzbekistan is setting an example through its practical actions and tangible results.

In turn, Firdavs Abdukhalikov, Director of the Center of Islamic Civilization in Uzbekistan, shared his insights regarding this prestigious recognition:

-  Established under the direct initiative and visionary authorship of our Honorable President, the Center has emerged as one of the most significant mega-projects in the Turkic world. The Head of State personally participated in and oversaw every stage of its creation. Today, every visitor leaves the Center with a world of impressions. As is well known, TURKSOY is a prestigious international organization uniting states such as Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan, and Türkiye and is often referred to as the “UNESCO of the Turkic World”. Currently, the museum heritage of these nations encompasses nearly 1,300 museums. The Center of Islamic Civilization in Uzbekistan, with its creative vision, profound conceptual depth and innovative solutions, holds a special place among these institutions, manifesting itself as a unique cultural and scientific phenomenon.

Furthermore, F. Abdukhalikov specifically highlighted the growing international interest in the Center's activities. In particular, the Hungarian government has expressed interest in studying the Center's experience and collaborating on the implementation of a similar project. Additionally, the leadership of the German state of Bavaria has stated its readiness to support initiatives aimed at promoting Islam through enlightenment.

At the conclusion of the event, it was emphasized that this award serves as a vivid testament to the Center's high international prestige, its scientific and cultural significance, and its profound recognition across the Turkic world.

Navruz is greeted with special enthusiasm throughout the country. On March 20, President Shavkat Mirziyoyev visited Rohat mahalla in Bektemir district, where he took part in festive events.

The mahalla, specializing in services and trade, is home to 4,000 people. Under the new employment system, the mahalla's internal reserves are actively used with the participation of banks. Last year, about 100 residents got jobs, 256 people became self-employed, and 13 people started entrepreneurial activities. Two manufacturing enterprises and dozens of trade and consumer service outlets create convenience for residents.

The Head of State reviewed the activities of these enterprises.

The mahalla has landscaped streets, well-maintained houses, educational and medical institutions, sports grounds, training centers, an amphitheater, crafts and library and information centers. The center for the elderly is especially lively now.

The President took part in the Sumalak celebration and had a warm talk with residents of the mahalla and representatives of the older generation. During the conversation, plans for the current year were discussed, including ensuring peace and stability, supporting entrepreneurship and creating new jobs.

– I am glad to see your mahalla so well-maintained and people in a good mood. Over time, we will expand opportunities in all districts. The most important thing is to maintain peace and unity. Remember what the situation was on our borders before? We solve all issues in a balanced manner, with political will. Thanks to the organization of work on the ground, we see the real picture in 10 thousand mahallas. Through the "mahalla seven" system, assistance reaches every home. We still have a lot of work to do in terms of increasing the population's income, reducing poverty and youth policy. This is why we are paying more attention to education, especially to the education of girls. A society where young people are educated and spiritually developed will definitely achieve prosperity, - emphasized Shavkat Mirziyoyev.

In the Rohat mahalla, young residents receive a quality education in a comprehensive school, a children's music and art school, the “Barkamol Avlod” center and an academic lyceum. The construction of a new preschool institution was recently completed, which will open up new opportunities for the early development of children.

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

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

Financial results for Q4 2025

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

Activity ranking of large banks for Q4 2025

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

Dynamics of key indicators

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

Activity ranking of small banks for Q4 2025

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

Jafar Khidirov,
Head of Banking and Financial Research Sector

The 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.

President Shavkat Mirziyoyev signed the law "On Recognition of Rights to Unauthorized Land Plots and Buildings and Structures Constructed on Them".

Many citizens of our country have been waiting for the resolution of this issue, which concerns the lives of millions of families. According to preliminary data, there are currently more than 3 million 600 thousand land plots, the legal documents for which are not formalized or incomplete.

In this regard, the head of state at a video conference call on land registration and cadastre held on November 21, 2023, noted the need for a legal solution to this issue. Accordingly, a draft law was developed with the participation of specialists in the sphere and deputies. The positive experience of Italy, Bulgaria, Croatia, the Czech Republic and other countries was taken into account. The draft was finalized and considered in the chambers of the Oliy Majlis.

The law consists of 6 chapters and 35 articles, which recognize rights to the following land plots and property:

1) land plots unauthorizedly seized by citizens before May 1, 2018 through the construction of individual housing, and buildings and structures built on them;

2) land plots occupied by citizens and organizations before May 1, 2018 in excess of the area specified in the document, as well as buildings and structures built on them;

3) land plots, the recognition of rights to which within the framework of the "one-time action" has not been completed, as well as buildings and structures constructed on them;

4) land plots allocated by decision of the regional (city) khokim until June 8, 2021, but not approved by the regional khokim or the Kengash of People's Deputies;

5) residential premises on the territory of horticultural and vine-growing associations and the land plot occupied by them;

6) land plots of entrepreneurs located in small industrial zones before March 9, 2020;

7) land plots occupied by buildings and houses privatized by state warrant;

8) land plots occupied by buildings and houses for which the ownership right has been recognized by the decision of the hokim.

The law also clearly defines the main conditions for recognizing rights. For example, the land plot should not be allocated to other persons or put up for auction; there should be no dispute over the land plot; there should be no contradiction with the general plan.

Recognition of rights is carried out step by step by region. Approval of information and documents concerning unauthorized land plots and buildings and structures built on them is carried out through the automated information system of the Cadastre Agency. The relevant information is also entered into this system by 15 authorized organizations.

Completeness and legality of the collected documents are checked by the regional justice department. The results will be announced on the website of the Cadastre Agency and in makhalla corners. Citizens who have received a positive conclusion will be sent an SMS-message, on the basis of which a one-time payment will be made. After that, the rights will be recognized quarterly by the decision of the regional Kengash of People's Deputies.

The bodies of prosecutor's office, internal affairs, agro-inspection, ecology, cadastre establish state control over the implementation of the law. The law also pays special attention to public control. Thus, public groups will be created in each mahalla by decision of district councils of people's deputies. These groups will include a deputy of the district council elected from the district where the mahalla is located, the chairman of the mahalla and active citizens.

A one-time payment is charged for the recognition of rights to land plots under residential houses, privatized or buildings and structures recognized on the right of ownership. The amount of the payment is 5 basic calculation units in the city of Tashkent, 3 BRV in the city of Nukus and regional centers, 2 BRV in cities and 1 BRV in other settlements. Persons included in the Unified Register of Social Protection and persons with disabilities are given a discount.

The one-time payment is directed to cover the costs of the cadastre and justice bodies and the Uzbekcosmos Agency. The remaining funds will be directed to the activities of the initiative budget, i.e. to the mahallas.

The law will come into force in 3 months, before that explanatory and preparatory work will be carried out on the ground. The law will be in force until January 1, 2028.

It should be noted that in the Republic of Karakalpakstan work in this direction has already begun. The Decree of the President of Uzbekistan of July 28, 2023 allowed to recognize the rights to undocumented residential houses and land plots located in the region by the decision of Jokargy Kenes of the Republic of Karakalpakstan.

After that, working groups were established in all districts and cities to examine 43,432 houses built in the Republic of Karakalpakstan without title documents. The location, condition and time of construction of the houses were verified on the basis of an analysis of land records and space images.

Following a comprehensive discussion, ownership of 27,590 residential houses and the right to lease the land on which they are located were recognized.

The results of this noble policy have had a positive impact on the lives of more than 100,000 citizens living in 27,590 houses. They now have the right to legally register their housing, sell it to another person, and put family members on permanent registration. Also, owners will now be able to receive preferential loans for repairs or additional construction, and in case of seizure of housing for public needs to demand compensation in accordance with the law.

The law "On Recognition of Rights to Unauthorized Land Plots and Buildings and Structures Constructed on Them" will expand the scope of this noble work throughout the country. If we assume that each of more than 3 million 600 thousand land plots concerns on average 3-4 citizens or entrepreneurs, this law will solve the problems of more than 10 million people and create a legal basis for their future life.

Марказий Осиё сўнгги йилларда иқлим ўзгариши оқибатларига тобора кўпроқ дуч келаётган ва дунёда ундан энг кўп зарар кўриши мумкин бўлган минтақалридан бири. Сўнгги 70 йил ичида Марказий Осиёда ҳарорат Цельсий бўйича 1,5-2 даражага кўтарилди. Бу эса экологик муаммоларнинг кескинлашувига, музликларнинг эриши ва чўлланишнинг тезлашишига таъсир кўрсатмоқда. Ушбу жараёнларнинг барчаси бир-бири билан ўзаро боғлиқ бўлиб, минтақадаги экотизимлар, иқтисодиёт ва одамлар ҳаётига салбий таъсир кўрсатмоқда.

Глобал миқёсда иқлим ўзгариши туфайли музларнинг эриш тезлиги сўнгги йилларда 65 фоизга ошди: 90-йилларнинг бошида сайёрада йилига 0,8 триллион тонна, 2000-йилларга келиб эса 1,3 триллион тонна муз эриб кетган. Марказий Осиё минтақаси учун ҳам ушбу экологик муаммо бугунги куннинг энг муҳим иқлим муаммолари қаторига киради.

Марказий Осиёда сув ресурслари тақчиллиги ортиб бормоқда. Бугунги кунда 37 миллион нафардан ортиқ киши асосан сув таъминотининг пасайиши, шунингдек, тегишли инфратузилманинг етарли даражада ривожланмаганлиги билан боғлиқ бўлган сув ресурслари кескин етишмайдиган ҳудудларда яшайди.

Евроосиё тараққиёт банки ҳисоб-китобларига кўра, 2025-2030-йилларда минтақа мамлакатлари учун сув ва иқлим инфратузилмасига зарур бўлган инвестицияларнинг умумий ҳажми қарийб 29,2 миллиард долларни ташкил этади.

Оролбўйи минтақасининг ҳолати вазиятни қийинлаштирмоқда – шамоллар Оролнинг қуриган тубидан ҳар йили тахминан 15-75 миллион тонна қум, чанг ва тузни учириб кетади. Бу эса сезиларли масофаларда ҳавонинг сифатини ёмонлаштиради ва бевосита ижтимоий-иқтисодий йўқотишларга олиб келади.

Шу сабабдан ҳам сўнгги йилларда Марказий Осиёнинг минтақавий кун тартибида экологик масалалар тобора устувор аҳамият касб этмоқда. Сув ресурслари билан боғлиқ муаммолар, ерларнинг деградацияси, иқлим ўзгариши, Оролбўйининг ҳолати эндиликда минтақа мамлакатлари томонидан алоҳида эмас, балки минтақанинг умумий барқарор ижтимоий-иқтисодий ривожланиш масалалари контекстида кўрилмоқда.

Марказий Осиё мамлакатлари давлат раҳбарларининг сиёсий иродаси туфайли экология соҳасидаги кўп томонлама ҳамкорлик янада тизимли ва мазмунли бўлиб бормоқда.

Бунда минтақавий ҳамкорликнинг институционал асосларини мустаҳкамлаш алоҳида ўрин тутди. Оролни қутқариш халқаро жамғармаси ва унинг тузилмалари амалдаги механизмлари билан бир қаторда, экологик масалалар минтақа мамлакатлари давлат раҳбарларининг маслаҳат учрашувлари, шунингдек, соҳавий идоралараро ва экспертлар мулоқоти доирасида янада изчил мустаҳкамлана бошлади.

Минтақа мамлакатларининг иқлим билан боғлиқ халқаро тадбирларда фаоллашганини ҳам таъкидлаш жоиз. Хусусан, БМТнинг Иқлим ўзгариши тўғрисидаги доиравий конвенцияси конференцияларида Марказий Осиё мамлакатлари "5 мамлакат - 1 минтақа - 1 овоз" тамойили остида чиқиш қилиб, иқлим муаммолари бўйича миллий устувор масалалар ва умумий минтақавий ёндашувларни тақдим эта бошладилар.

Марказий Осиёнинг барча мамлакатлари Париж келишуви доирасида ўзларининг миллий миқёсда белгиланган ҳиссасини тақдим этди ва иссиқхона газларини камайтириш, "яшил" энергетика қувватини ошириш ва мослашувчанлик салоҳиятини мустаҳкамлаш бўйича ўз олдига юқори мақсадларни қўйди.

Шу билан бирга, Қозоғистон 2060-йилга бориб углерод нейтраллигига эришиш йўлини белгилаб олди, Ўзбекистон эса 2035-йилга бориб ялпи ички маҳсулот бирлигига тўғри келадиган иссиқхона газлари эмиссиясини 2010-йилдагига нисбатан 50 фоизга камайтириш бўйича мақсадли кўрсаткични оширди. Қирғизистон, Тожикистон ва Туркманистон ҳам глобал иқлим мақсадларига эришиш йўлидаги интилишларини тасдиқлаб, ўз ҳиссасини доимий равишда янгилаб, ошириб келмоқда.

Орол инқирози оқибатларига мослашиш масаласида ҳам сезиларли натижаларга эришилди. Хусусан, Орол денгизининг қуриган тубида Ўзбекистон томонида сўнгги 5 йил ичида 1,7 миллион гектар ўрмонзорлар барпо этилди, Қозоғистон томонида 1 миллион гектардан ортиқ майдонда ўрмон-мелиорация ишлари олиб борилди.

Минтақавий ҳамкорликнинг яна бир ёрқин натижаларидан бири Шимолий Оролдаги вазиятнинг яхшиланиши бўлди. Сирдарё бўйидаги   сув омборларининг иш тартибини мувофиқлаштириш ва давлатлараро келишувларни бажариш ҳисобига сўнгги уч йилда денгизга 6 миллиард куб метрдан ортиқ сув келиб тушди. Натижада Шимолий Оролнинг ҳажми 2022-йил охиридаги 18,9 миллиард куб метрдан 2025-йил охирида 23 миллиард куб метргача ошди.

Билим алмашинуви ва илмий экологик экспертиза соҳасида ҳам минтақавий ҳамкорлик кенгаймоқда. Ўзбекистонда атроф-муҳит ва иқлим ўзгаришини ўрганиш бўйича Марказий Осиё университетининг ташкил этилиши ушбу ҳамкорликнинг натижаси бўлиб, минтақада шу йўналишда кадрлар тайёрлаш ва қўшма тадқиқотларни ривожлантириш учун янги майдонга айланди.

Шундай қилиб, Марказий Осиёда ўзаро минтақавий экологик ҳамкорлик аста-секин амалий аҳамият касб этмоқда. Мамлакатлар умумий халқаро позицияни шакллантириш, мувофиқлаштириш механизмларини ривожлантириш, Оролбўйи экотизимларини тиклаш бўйича чора-тадбирларни амалга ошириш ва илмий-таълим базасини яратишда сезиларли натижаларга эришди.

Шу билан бирга, минтақадаги экологик муаммолар кўлами мувофиқлаштиришни кенгайтиришни тақозо қилмоқда. Трансчегаравий сув ресурсларини бошқаришда янада ўзаро мувофиқлаштирилган ёндашувларни ишлаб чиқиш, иқлим ўзгаришининг оқибатларига мослашиш чораларини кенгайтириш, сув ва экологик инфратузилмага узоқ муддатли инвестицияларни жалб этиш, шунингдек, умумий экспертлар базаси ва таҳлилий базани мустаҳкамлаш устувор вазифалар сифатида қолмоқда.

Кейинги йилларда Марказий Осиёнинг экологик кун тартиби самарадорлиги минтақа мамлакатлари сиёсий ҳамкорлик натижаларини барқарор қўшма механизмларга қанчалик изчил трансформация қила олишига боғлиқ бўлади.

Остона шаҳрида бўлиб ўтадиган Минтақавий экологик саммит иқлим масаласида умумий мақсадига эришиш йўлидаги яна бир қадам бўлади. Иқлим ва экологик муаммоларни бартараф этиш бўйича янги ва амалий ечимларни ишлаб чиқиш нафақат Марказий Осиё мамлакатларининг глобал иқлим кун тартибига қўшган ҳиссасини оширишга, балки экотизимлар барқарорлигини таъминлаш, ҳаво ифлосланишини камайтириш, табиий ресурсларни барқарор бошқариш ва устувор равишда сув ва энергетика ресурсларини бошқариш бўйича минтақавий вазифаларни ҳал этишга ҳам хизмат қилади.

Эльвира Бикеева,

МҲТИ лойиҳа раҳбари

Малика Сапармуҳаметова,
МҲТИ етакчи мутахассиси

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

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

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

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

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

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

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

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

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

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

Development Strategy and Achievements

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

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

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

Innovative Mega-Projects and an Ecological Approach

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

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

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

In October, the President of the Republic of Uzbekistan, Shavkat Mirziyoyev, will pay a state visit to the Kingdom of Belgium, during which important decisions are expected to be made that will mark a qualitatively new stage in relations between Uzbekistan and the European Union. In particular, the visit will feature the signing of the Agreement on Enhanced Partnership and Cooperation.

In recent years, Uzbekistan has been actively shaping a new framework of engagement with Europe – a key pillar of stability amid current geopolitical tensions and global economic uncertainty. The ties between Uzbekistan and European countries continue to grow, and the areas of cooperation are diversifying, supported by the ongoing reforms in Uzbekistan.

Building a New Chapter in Relations

After gaining independence, Uzbekistan’s relations with the European Union developed dynamically. A Memorandum of Understanding between the Government of Uzbekistan and the European Commission was signed in 1992, followed by the establishment of diplomatic relations in 1994. The foundation of cooperation was laid by the Partnership and Cooperation Agreement (PCA) signed in June 1996 and entering into force in 1999. However, at a certain stage, cooperation faced difficulties due to the insufficient pace of democratic reforms in Uzbekistan.

With the election of Shavkat Mirziyoyev as President, the situation changed dramatically. As early as 2017, during his visit to Tashkent, Stefano Manservisi, Director-General for International Cooperation and Development of the European Commission, stated that “the EU regards Uzbekistan as a strategic partner.” The sweeping democratic and economic reforms launched in Uzbekistan helped resolve within a short period many issues that had long remained unsolved. Forced labor was completely eradicated, and reforms in the cotton sector enabled the country to abandon raw cotton exports altogether.

As reforms advanced, the legal and institutional framework of relations with Europe expanded rapidly. While previously Uzbekistan and the EU granted each other most-favored-nation treatment under the PCA, in April 2021 the EU granted Uzbekistan GSP+ beneficiary status, and in 2022 the Enhanced Partnership and Cooperation Agreement (EPCA) was initialed.

Along with internal transformation, Uzbekistan’s foreign policy architecture also changed. Priority was given to closer cooperation with neighboring Central Asian states, as well as the active expansion of ties with European countries – a vector that has strengthened steadily in recent years.

Just in the past year, Uzbekistan established strategic partnership relations with France, Italy, and Slovakia, while discussions on expanding strategic cooperation with Hungary continued. President Mirziyoyev also visited Slovenia, and Italy’s Prime Minister and Bulgaria’s President visited Uzbekistan.

A milestone in strengthening relations between Uzbekistan and Europe, and between Europe and Central Asia as a whole – was the first EU–Central Asia Summit, held in Samarkand in April 2025 under the chairmanship of Shavkat Mirziyoyev. Uzbekistan presented a broad range of initiatives to create a new model of regional cooperation between Central Asia and Europe, including: a multilateral agreement on investment protection and promotion; the launch of a Central Asia–EU Joint Chamber of Commerce; the adoption of a regional support program for SMEs and women’s entrepreneurship; the establishment of an investment platform to promote regional projects in green energy, innovation, transport, infrastructure, and agriculture.

The Samarkand Summit was highly productive. A Joint Declaration was adopted, establishing a strategic partnership between the two regions in trade, transport, energy, digital connectivity, and water management. European Commission President Ursula von der Leyen announced that the EU had prepared a €12 billion investment package for Central Asia under the Global Gateway initiative.

The Trajectory of Economic Cooperation

Uzbekistan’s deep democratic transformations have significantly improved relations with European countries. Economic reforms have enhanced the competitiveness of Uzbekistan’s economy, stimulating investor confidence and growing interest from European businesses.

The results are impressive. Over the past 8 years, Uzbekistan’s GDP has doubled, reaching $115 billion in 2024. Since 2017, investment in fixed capital has totaled $240 billion, of which foreign investment exceeded $130 billion. The country’s foreign exchange reserves surpassed $48 billion for the first time in history. Structurally, the share of industry in the economy increased from 20% to 26%, and services from 44% to 47%. Labor productivity (GDP per employed person) rose by 45%.

As a result, opportunities for mutually beneficial cooperation between Uzbek and European businesses have expanded. Between 2017 and 2024, Uzbekistan’s trade with the EU increased 2.4 times to $6.4 billion; exports grew 3.6 times to $1.7 billion, and imports 2.2 times to $4.7 billion. In 2024, the EU’s share in Uzbekistan’s total trade turnover was 9.7%, in exports 6.3%, and in imports 12%. The EU ranked third among Uzbekistan’s trade partners, after China and Russia.

The EU’s share in Uzbekistan’s total exports increased from 3.8% to 6.3% over the same period. This growth was driven by Uzbekistan’s accession to the GSP+ preferential trade system, granting duty-free access to the EU market across roughly 6,200 tariff lines. The share of Uzbekistan’s exports benefiting from GSP+ reached 59%, with a preference utilization rate of 84%, indicating efficient use of trade benefits.

In 2024, Uzbekistan’s exports to the EU were dominated by chemical products (52.1%), as well as textiles, ferrous and non-ferrous metals, minerals, and food products. Among EU members, France accounted for 47.2% of exports, Lithuania for 10%, and Latvia for 6.9%.

Uzbekistan’s imports from the EU significantly exceeded exports – a reflection of the ongoing technological modernization of the national economy. Around 16% of Uzbekistan’s total imports of machinery, equipment, and transport vehicles come from EU countries.

Investment cooperation is also expanding rapidly. In 2024, foreign investments and loans from EU countries and their financial institutions increased by 77%, reaching $4.1 billion (compared to $2.3 billion in 2023). The most active investors were Germany ($1.37 billion), the Netherlands ($1.05 billion), Cyprus ($858.9 million), the Czech Republic ($137.8 million), Italy ($99.8 million), and Sweden ($97.5 million). Today, around 1,000 enterprises with EU capital operate in Uzbekistan, with a total project portfolio of €30 billion.

A special role in recent years belongs to the EBRD, of which Uzbekistan has become one of the largest beneficiaries. The Bank’s total investments in Uzbekistan’s economy exceeded €5 billion, including around €1 billion in 2024, primarily directed toward the private sector.

Reforms in Uzbekistan have become the key driver for unlocking the significant potential of trade and economic cooperation with the European Union.

Uzbekistan–Belgium

The upcoming visit will also focus on strengthening relations between Uzbekistan and Belgium. Diplomatic relations were established following the opening of the Embassy of Uzbekistan in Brussels in 1993. In 1996, the two countries signed an Agreement on avoidance of double taxation, and in 1998 – an Agreement on mutual protection and promotion of investments, which provide legal guarantees for investors in both states.

Business contacts have intensified in parallel with Uzbekistan’s reform agenda. The visits of 2019 and 2022 set the tone for cooperation in infrastructure, energy, and the digital economy. More important than the current trade volumes has been the recognition and support of Uzbekistan’s reforms by EU partners, laying the foundation for long-term engagement.

In 2024, bilateral trade amounted to $62.3 million, including $7.3 million in Uzbek exports and $55 million in imports. Investment cooperation is gaining momentum: several dozen companies with Belgian capital now operate in Uzbekistan, including wholly owned enterprises. New technologies are being localized, for example, Jaga Climate Designers is participating in a joint venture for heating and ventilation systems, and Picanol Group is localizing the assembly of high-tech textile machinery. Belgian brands Belcolade and Prefamac are exploring opportunities to launch chocolate production with subsequent localization.

Despite modest trade volumes, there is significant potential for expanding cooperation in several areas. Given Belgium’s leading role in pharmaceuticals and biomedical research and Uzbekistan’s growing pharmaceutical market, joint ventures or industrial clusters could be developed in this sector, involving companies such as UCB and Janssen Pharmaceutica.

There is also strong potential for joint fruit and vegetable processing projects in Uzbekistan, targeting exports to the EU via Belgian logistics hubs such as the Port of Antwerp and wholesale markets. Potential partners include Greenyard and Puratos. Direct seasonal exports of fresh fruits (e.g., grapes in autumn and winter), as well as dried vegetables, spices, and organic products, could also be expanded. In light industry, there is room to increase exports of ready-made knitwear and home textiles, provided European quality and safety standards are met. The market potential is evident – Belgium imported about $7.9 billion worth of clothing in 2024.

The main challenges remain logistics and standards. Belgium functions as a major EU maritime hub centered around Antwerp, while direct routes from Uzbekistan are still limited. The near-term priority should be pilot supply chains ensuring quality and traceability, the development of cold logistics, certification under EU technical and sanitary regulations, the use of Benelux consolidation hubs, and trade finance tools for SMEs. With the gradual development of new overland routes along the Middle Corridor, Uzbekistan will gain a stronger foothold in high value-added exports without higher costs or delivery delays.

Conclusion

Uzbekistan is entering a stage of deepened economic cooperation with the European Union. During the ongoing modernization and digital transformation of its economy, European investment, technology, education, and research experience can play a key role. At the same time, Uzbekistan seeks to expand exports of industrial goods as their quality improves.

Uzbekistan is also a rapidly growing market with a young and dynamic population, now reaching 38 million people – an 18% increase since 2017. Every year, around 700,000 economically active individuals enter the labor market, forming a substantial human resource base for the economy, including joint ventures.

As a result of poverty reduction policies, living standards and household incomes have risen significantly. Whereas a third of the population once lived below the poverty line, 7.5 million people have been lifted out of poverty, and the poverty rate declined to 8.9% in 2024, with plans to reduce it further to 6% this year. These policies not only address social challenges but also expand domestic demand, increasing the interest of European businesses in entering Uzbekistan’s market.

The further deepening of Uzbekistan’s economic engagement with the EU and Belgium is an objectively mutually beneficial process – one that will define the success of the upcoming state visit of President Shavkat Mirziyoyev to Belgium.

The agreements expected to be signed will help advance joint projects in sustainable energy and infrastructure, strengthen transport and technological connectivity between Central Asia and Europe, and position Europe as a key partner in Uzbekistan’s long-term growth and modernization trajectory.

 Obid Khakimov,  

Director of the Center for
Economic Research and Reforms

Esteemed Heads of Delegations!

Once again, I would like to express my gratitude to the President of the Republic of Kazakhstan, esteemed Kassym-Jomart Tokayev, for the warm welcome and excellent organization of the Summit in Astana.

We are highly estimate Kazakhstan’s effective chairmanship of the SCO, which has facilitated the expansion of multifaceted cooperation within the Organization.

It is a great honor to have with us the heads of observer-states and dialogue partners, esteemed guests.

Dear Participants of the Meeting!

I believe that a meeting in the broad format of SCO Plus is timely and necessary.

The world needs to restore trust, justice and solidarity more than ever.

The current global political and economic landscape is characterized by fractures, wars, and conflicts that are undermining the foundations and key principles of the system of international relations.

The contradictions and protectionism that have emerged are creating fragmentation of the world economy and supply chain disruptions, which are in turn creating new dividing lines that prevent countries from cooperating effectively in trade, finance and investment, technology transfer and innovation.

The only viable solution to these challenges is to consolidate efforts in the interest of global security, development, and prosperity.

The SCO has always advocated for and has been committed to a just world order based on the universally recognized principles of international law and multilateralism, with the UN playing a central coordinating role.

In this regard, our Organization continues to serve as a focal point for many countries seeking to build broad cooperation without political and ideological biases.

Concurrently, the evolving circumstances necessitate the implementation of new strategic approaches to enhance the efficacy of the Shanghai Cooperation Organization.

Today, as it stands on the threshold of its 25th anniversary, it is imperative to develop a new agenda that aligns with the Organization’s immense potential and growing role in world politics and economy.

Building on the “Shanghai Spirit” and the founding principles of the Charter, unity and cohesion within the Organization should be preserved. I propose to intensify joint efforts with the objective of strengthening the atmosphere of trust and friendship within the SCO and to remove barriers to deeper cooperation.

First of all, it is necessary to undertake a comprehensive reevaluation of the conceptual foundation underpinning the SCO’s security-related activities.

The nature and scope of contemporary challenges have undergone a significant transformation since the establishment of the Organization.

Environmental and natural disasters, water and food shortages, cyberattacks, new methods of undermining sovereignty and economic stability pose an increasing threat.

All of this should also be taken into account when considering the strengthening of the SCO's potential, including the establishment of the Universal Center for Countering Security Threats and Challenges.

In this context, I propose to hold annually SCO Plus Dialogue on Security Issues with the participation of the heads of the competent bodies and experts of all our countries.

Uzbekistan proposes to consistently “reload” trade and economic cooperation in the SCO area, which continues to be fragmented.

So far, we could not manage to create a solid foundation for multilateral trade and inter-sectoral partnership.

For a long time, no consensus has been reached on the establishment of the SCO Development Fund and the SCO Development Bank.

Today at the summit we agreed to take comprehensive measures to simplify trade procedures and develop e-commerce, stimulate technological cooperation, including in the industries of the future.

In order to create an effective platform for business dialogue with the participation of all partners, we propose the annual holding of the SCO EXPO International Industrial Exhibition in our countries.

It is also important to actively promote economic interaction and seek opportunities for linking joint initiatives with the Economic Cooperation Organization, the Gulf Cooperation Council, the Eurasian Economic Union, ASEAN and others.

The new geopolitical realities convince us of the need to build an inclusive and integrated transport and transit system to strengthen interregional connectivity.

The global problems such as climate change and environmental disasters cannot be ignored by the Organization. Our countries are increasingly facing natural disasters, land degradation, reduced agricultural yields, air pollution and water shortages.

I believe that climate cooperation should become a key element of the new SCO agenda.

We advocate for developing an Agreement on cooperation in combating climate change, with concrete measures to achieve common goals and objectives in the area of green development.

We are also proposing the establishment of the SCO Center for Innovative Climate Solutions in Tashkent. It will conduct research on environmental sustainability and “green” growth.

Improving livelihoods and social protection should be given a central place on the Organization’s agenda.

We intend to hold a Global Conference on Sustainable Social Protection in Samarkand next year, under the auspices of the United Nations, as a contribution to achieving the goals Summit of the Future.

Finally, we need to strengthen and promote together a unique model of inter-civilizational dialogue.

The rich cultural, historical and spiritual heritage, traditions, customs and ways of life of our peoples are a powerful and resilient force for building bridges of mutual trust, good-neighborliness and lasting friendship.

This is the message contained in the recent UN General Assembly resolution on the International Day of Dialogue among Civilizations, adopted at our joint initiative.

In this context, the Samarkand Solidarity Initiative for Common Security and Prosperity, which we have put forward, aimed at overcoming the trust deficit through constructive dialogue and multilateral partnership, is more relevant than ever.

The practical implementation of this initiative will contribute to strengthening inter-civilizational dialogue to overcome contradictions on the path to sustainable development.

I am confident that together we can make the Organization even more creative through the implementation of programs in the area of cultural, educational, youth and tourist exchanges.

To this end, we propose to develop a Unified Bank of SCO Humanitarian Initiatives and Programs, which will enable projects in these areas to be systematized and jointly implemented.

I am convinced that the outcomes of this meeting will give a strong impetus to the development of a multifaceted partnership within the Shanghai Cooperation Organization.

Thank you for your attention.

President Shavkat Mirziyoyev was given a presentation on measures to further develop the jewelry industry, support jewelry production and sales, and increase exports of finished products.

Our country has a huge potential for increasing production and export of jewelry.

As the head of state noted, only 6 percent of gold mined in the country is processed, and exports of its products amount to only 78 million dollars, so it is important to create jewelry zones with special conditions for entrepreneurs, to review the provision of raw materials, training of specialists, production chain and sales system.

In this regard, the Ministry of Economy and Finance and the Chamber of Commerce and Industry have developed relevant proposals.

In particular, it is planned to improve the activity of the Uzbekzargarsanoati association, expand its powers and reorganize the management system.

In order to support manufacturers of the industry, it is proposed to apply the benefits provided for members of the Association "Uzbekzargarsanoati" to individual entrepreneurs - manufacturers of jewelry, who are members of the Association "Uzbekzargarsanoati".

The possibility of establishing a zero rate of customs duty and value added tax on equipment, packaging and marking materials that are not produced in Uzbekistan and used in the jewelry industry for the period up to October 1, 2026 is being studied.

The issues of creation of special jewelry centers including production, exhibition and trade areas were considered. Information was provided on the placement of pilot projects in Tashkent and Namangan region.

The issue of increasing the volume of jewelry exports was discussed. It was proposed to establish a zero rate of customs duty for export of jewelry made in our country to the United States of America under the GSP system.

The head of state instructed to finalize the presented measures and work out a program for the development of domestic jewelry production for the period up to 2027.

At the end of Q1 2026, the republic’s exports of goods and services demonstrated a steady growth trend.

During the reporting period, exports totaled $5.8 bn, increasing by 26%, or $1.2 bn, compared to the same period last year.

Export growth was driven primarily by the expansion of shipments of higher value-added products and raw materials. In particular, exports of natural uranium amounted to $402.6 mn, increasing by $196 mn, or 95%. Exports of non-ferrous metals reached $248.7 mn, up by $137 mn, with a twofold increase recorded. Exports of oil and gas products totaled $160 mn, rising by $20 mn, or 15%.

Positive dynamics were also observed in manufacturing industries. Textile exports reached $731 mn, increasing by $110 mn, or 18%. Exports of construction materials totaled $304 mn, up by $130 mn, or 75%. Exports of jewelry products reached $214 mn, increasing by $75 mn, or 54%.

Sustained growth was also recorded in agricultural and food exports. Fruit and vegetable exports reached $320 mn, increasing by $34 mn, or 12%. Food product exports totaled $282 mn, increasing by $47 mn, or 120%.

Strong growth was also achieved in services. During the reporting period, services exports amounted to $2.2 bn, increasing by 35%, or $573 mn, compared to last year.

Regional export activity also expanded. In Andijan region, exports increased by $83 mn, or 74%; in Khorezm region by $27 mn, or 66%; in Navoi region by $15 mn, or 42%; in Fergana region by $54 mn, or 42%; in Namangan region by $43 mn, or 31%; in Syrdarya region by $17 mn, or 29%; and in Samarkand region by $54 mn, or 28%. In Tashkent city, exports grew by $178 mn, or 42%.

Export growth was recorded in 147 districts and cities across the republic.

The geography of exports continues to expand. In January–March of the current year, previously non-exported goods worth $162 mn across more than 140 product categories were supplied for the first time to 86 countries, including the United States, Austria, Belarus, Poland, South Korea, Iran, Kazakhstan, and Afghanistan.

In particular, exports to Hong Kong included jewelry, solar panels, semiconductors, brass products, and spare parts worth $42.1 mn. Exports to Afghanistan included truck cranes, aluminum products, oilcake, metal fittings, pipes, and other goods worth $19.8 mn. Exports to the United States included carpets, rug fabrics, electrical equipment, solar panels, and other goods worth $9.4 mn.

In addition, exports amounted to $2.3 mn to Poland, $3.8 mn to Kazakhstan, $3.2 mn to Belarus, $1.7 mn to Austria, $1.1 mn to the United Kingdom, $1.1 mn to Iran, and $649.3 thousand to South Korea.

As a result of efforts to involve new businesses in export activity, 702 new business entities joined export operations during the reporting period. Their exports totaled $270 mn. As a result, the total number of exporting enterprises reached 4 thousand.

Within the national export support system, financial and organizational assistance to exporting enterprises continued. Through the Trade Promotion Fund, 405 exporters received financial support totaling 32.3 bn soums, while these companies exported goods worth $98.9 mn. Every $1 of state support generated $38.9 in exports.

In addition, the Light Industry Agency provided financial assistance totaling 8.8 bn soums to 212 exporters.

The achieved results confirm the effectiveness of the measures being implemented in the country to expand export potential, diversify the product range, and strengthen competitiveness in foreign markets.

Center for Economic Research and Reforms Media Sector