News

Freedom Pay continues to strengthen its contribution to the growth of the digital economy in Central Asia. In early June, Nazokat Rashidova, CEO of Freedom Pay in Uzbekistan, spoke at two major E-GATE conferences supported by the World Bank — on June 5 in Dushanbe and June 10 in Bishkek.

June 5, Dushanbe – Opportunities for Women in the Digital Economy

At the Dushanbe conference, Nazokat Rashidova participated in a panel discussion focused on the role of women in digital entrepreneurship. In her remarks, she highlighted that e-commerce and online payment services open new business opportunities for...

In one of the headline clashes of the South American qualifiers for the 2026 FIFA World Cup, Argentina and Colombia played to a hard-fought 1–1 draw. The emotionally charged match, held as part of the CONMEBOL World Cup qualification, showcased fierce competition between two regional football powers.

First Half: Visitors Strike First

The Colombia national football team started strongly and opened the scoring in the 24th minute through Luis Díaz, who cut in from the left wing, beat multiple defenders, and fired a shot into the far corner of the net past Argentina goalkeeper Emiliano Martínez. The Argentina...

Uzbekistan’s economy is projected to grow by 5.9% in 2025, according to analysts at the World Bank (WB). The same growth rate is expected in 2026.

In 2027, the country’s GDP is forecast to expand by 5.8%.

The World Bank also expects economic growth in Europe and Central Asia to slow to 2.4% in 2025. However, regional GDP is projected to recover slightly to 2.6% in both 2026 and 2027.

World Bank experts warn that the global economy will decelerate to 2.3% this year, due to rising trade tensions and political challenges.

«Shocks have...

The triumph of Uzbek football became an international event, with foreign leaders in attendance at the historic match held at Bunyodkor Stadium.

President of Uzbekistan Shavkat Mirziyoyev personally attended the national team’s final qualifying match against Qatar on June 10, 2025. The game ended in a confident 3–0 victory for Uzbekistan, marking the team’s historic qualification for the 2026 FIFA World Cup.

Bunyodkor Stadium in Tashkent became a stage not only for sporting success but also a celebration of national pride. Speaking to the players and fans, the President emphasised that this achievement was the result of courage...

At the Milliy Stadium in Tashkent, the Uzbekistan national football team played its final match of the second round of the 2026 World Cup qualifiers, defeating Qatar 3–0.

Timur Kapadze’s squad had already secured qualification for the 2026 World Cup ahead of this match. Nevertheless, the White Wolves fielded their full starting lineup: Utkir Yusupov in goal; defenders Abdukodir Khusanov, Akmal Mozgovoy and Husniddin Alikulov; midfielders Alijanov, Khamrobekov, Masharipov, Nasrullaev, Turgunbaev, and Abbosbek Fayzullaev; and striker Eldor Shomurodov leading the attack.

First Half: Turgunbaev Opens the Scoring

Uzbekistan took control early in the game. Azizbek Turgunbaev opened the scoring...

The European Investment Bank (EIB) has announced plans to open its first regional office in Central Asia, selecting Uzbekistan as its base. The announcement was made by Davide Monguzzi, Senior Loan Officer at the EIB, during the Tashkent Investment Forum.

«Our priority is cross-border infrastructure — roads, railways, and energy. We support initiatives that promote regional integration and cooperation beyond national borders,» said Monguzzi.

The EIB is currently collaborating with Uzbekistan’s Ministry of Transport on a number of infrastructure projects, including road construction in Karakalpakstan and the Samarkand region.

The bank aims to mobilise other...

The Senegal national team pulled off a surprise in a friendly match against England, defeating the “Three Lions” 3-1 at the City Ground stadium in Nottingham.

The match began with an early goal from the English side — in the 7th minute, Harry Kane (FC Bayern) opened the scoring, slotting in a rebound after a failed save by the goalkeeper. However, the lead was short-lived.

In the 40th minute, Ismaïla Sarr (Crystal Palace) equalized, capitalizing on a defensive error by England. After the break, Senegal increased the pressure, and in the 62nd minute, Aibou Diarra (Strasbourg) gave his team the...

Investors in Central Asia and the Caucasus have surged dramatically, according to a new report released today by Montfort Eurasia, a regional arm of the London-based strategic communications firm Montfort Communications.

Published on the sidelines of the Tashkent International Investment Forum, the report reveals that interest from U.S. and UK investors in the region has tripled since 2023. This growing enthusiasm comes despite lingering concerns over political stability and the security of investments.

The findings indicate that investors are especially drawn to sectors such as industry and manufacturing, oil and gas, as well as mining and natural resources.

At the Tashkent International Investment Forum (TIIF 2025), Uzbekistan unveiled a groundbreaking Sharia-compliant financing initiative for small businesses. The ethical, interest-free model is led by the Economic Empowerment Fund of Uzbekistan (EEFU) in partnership with SEAF, Islamic Development Bank, Saudi Development Fund, and Uzbekistan’s Reconstruction and Development Fund.  

The project, launched in 2021, is now in final approval stages, with $100 mln allocated for the first phase. The funds will test new financial tools and build investor confidence.  

Olim Yusupov, Deputy Executive Director of Uzbekistan’s Reconstruction and Development Fund, stated: «Uzbekistan has...

During the Tashkent International Investment Forum 2025, President Shavkat Mirziyoyev stated that the Ukraine situation should be resolved through diplomatic efforts. He pointed to the ongoing direct negotiations in Istanbul as a crucial step towards achieving peace.

The President emphasised that peaceful settlement is essential for regional and global stability. He also highlighted the importance of global unity in ensuring justice and respect for human dignity.

Mirziyoyev stressed that now, more than ever, international cooperation is vital to prevent further escalation and to foster trust among nations.

Earlier, Kursiv Uzbekistan reported that EU outlined top...

The Tashkent Investment Forum 2025 has attracted over 8,000 participants from more than 100 countries, where investment projects in Uzbekistan worth over $30 bn will be presented, Kursiv Uzbekistan has learned.

These foreign investment projects in Uzbekistan span strategic sectors, including energy, infrastructure, agriculture, digital technologies and other key drivers of the Uzbekistan economy.

Among the forum’s high-profile attendees are representatives of major international financial institutions, including the European Bank for Reconstruction and Development (EBRD) and the New Development Bank (known as the BRICS Bank), both key partners in financing Uzbekistan’s development initiatives.

The forum’s centrepiece is the first-ever National...

The European Union is positioning Uzbekistan as the key partner in its new Central Asia Strategy, with a focus on climate infrastructure and industrial decarbonisation.

EU Ambassador Toivo Klaar said the Samarkand Summit in April 2025 marked a turning point.

Uzbekistan is now seen as a regional hub for investment, innovation, and cooperation.

«We don’t just extract resources. Europe offers knowledge, market access, and long-term partnership,» said Klaar.

Among priority areas:

The Center for Economic Research and Reforms (CERR) has released its midyear economic forecast for Uzbekistan, projecting Uzbekistan’s GDP growth in 2025 at 6.7% for the first half of the year. This estimate is based on nowcasting methods that utilize high-frequency indicators and international best practices to deliver a real-time picture of the Uzbekistan economy.

Resilient Growth Amid External Pressures

Amid global uncertainties, the Uzbekistan economic outlook for early 2025 remains strong. According to the State Committee on Statistics, GDP growth in Uzbekistan reached 6.8% in the first quarter. The economy is benefiting from a solid performance across major...

The European Investment Bank (EIB) will open its first regional office in Central Asia in Tashkent by the end of 2025.

The new hub will coordinate long-term investments in transport, water, and energy infrastructure across the region.

EIB Senior Loan Officer Davide Monguzzi confirmed the plan at TIIF 2025:

«Our focus will be on cross-border projects — roads, rail, energy — that go beyond national borders and boost integration.»

The bank is already working with Uzbekistan’s Ministry of Transport to turn memorandums into real projects, starting with roads in Karakalpakstan and Samarkand.

EIB also aims to crowd in other international lenders under the EU’s Global Gateway strategy.

President of Uzbekistan Shavkat Mirziyoyev met with a delegation of leading American companies on June 9, ahead of the Tashkent International Investment Forum.

During the meeting, business leaders outlined a range of projects they plan to implement in Uzbekistan. The discussion involved US Assistant Secretary of State Eric Meyer, Chair of the American-Uzbekistan Chamber of Commerce Carolyn Lamm, Vice President of the US International Development Finance Corporation Brez Bethany, as well as senior representatives from Boeing, Visa, NASDAQ, Coca-Cola, Morgan Stanley, Air Products and others.

The two sides explored new avenues for cooperation, including digital technology, artificial intelligence, infrastructure...

Uzbekistan has launched the international privatisation process for mobile operator Mobiuz, according to an announcement published on the website of the State Assets Management Agency of the Republic of Uzbekistan (UzSAMA). The agency will accept applications from domestic and international investors until early August 2025.

Rothschild & Co will serve as the strategic advisor, KPMG will provide financial consulting, and Deloitte will assess the asset offered for privatisation. The transaction process will be conducted in three stages.

In 2024, Mobiuz generated revenue of UZS 2.1 trillion and served 7.8 mln subscribers.

ASAM noted that it reserves the right to...

On June 9, Egypt delivered a new batch of hepatitis C medication to Uzbekistan, according to Dunyo News Agency.

The shipment from Sharm El Sheikh included over 7,400 doses of Sofosbuvir 400mg, with a total value of $114,800. The medication will be distributed to patients at the Research Institute of Virology in Uzbekistan.

Between 2023 and 2024, Uzbekistan received hepatitis treatment drugs worth $1.2 mln under a cooperation agreement with Cairo.

Previously, Egypt had supplied 31 packs of Sofosbuvir 400mg to Uzbekistan.

The Board of Governors of the BRICS New Development Bank has approved Uzbekistan’s accession to the international financial institution, according to the press service of President Shavkat Mirziyoyev.

Ahead of the Tashkent International Investment Forum, President Mirziyoyev held talks with Dilma Rousseff, President of the BRICS Bank. They discussed future cooperation between the bank and Uzbekistan.

The financial institution has prepared joint projects worth $5 bn, focusing on irrigation, private sector development and other key areas.

Established in 2014, the BRICS New Development Bank was founded by Brazil, Russia and other member states. Headquartered in Shanghai, the bank supports...

Despite ongoing geopolitical and economic challenges, the sector shows resilience and modest growth in key indicators.

Profit under pressure, but still positive

Airlines are expected to earn a net profit of $36 bn in 2025 — higher than in 2024 ($32.4 bn), though slightly below the December forecast of $36.6 bn. In detail:

IATA Director General Willie Walsh emphasised that the main positive factor is a 13% drop...

Uzbek businesswomen secured $13 mln in contracts during a visit to India, according to the Chamber of Commerce and Industry of Uzbekistan.

The agreements include a $3 mln deal to supply medical products to Gokal International Clinic, a $2.5 mln export contract for medical clothing, and $1 mln worth of textile exports.

They also signed contracts with partners in the education and textile industries.

As of early May this year, trade turnover between Uzbekistan and India reached $383 mln. From January to April 2024, the figure stood at $280.6 mln.

Earlier, Kursiv Uzbekistan reported that in spring...

Portugal edged out Spain in a dramatic UEFA Nations League final, winning the match in a penalty shootout at the Allianz Arena in Munich, Germany.

2–2 After Extra Time

The match ended 2–2 after both regular and extra time. Nuno Mendes and Cristiano Ronaldo scored for Portugal, while Martín Zubimendi and Mikel Oyarzabal found the net for Spain.

Fans witnessed a tense and action-packed match with moments including a shot off the post, crucial saves, several VAR checks, and strategic substitutions. With no winner after 120 minutes, the fate of the trophy came down to penalties.

Penalty Drama...

South Korean tech giant Naver launches a venture subsidiary in Silicon Valley, Yonhap News reports.

Naver Ventures will become the corporation’s first overseas investment firm. The subsidiary will focus on supporting promising startups.

Naver CEO Choi Soo-yeon calls Silicon Valley the cradle of innovation, where experienced specialists meet cutting-edge technology. He highlights that startups face increasing difficulties securing investment amid uncertainty.

Naver Ventures aims to back such companies, helping them develop technology and expand into the US market.

The venture’s first investment target is the South Korean startup Twelve Labs, which develops artificial intelligence (AI) technologies for video content...

US President Donald Trump promises to restore order in Los Angeles and end ongoing protests against policies on illegal migration. He announced this on his social media platform, Truth Social.

«Order will be restored, illegals will be expelled, and Los Angeles will be liberated,» Trump stated.

Earlier, Trump ordered the deployment of National Guard troops to the city. However, California authorities called on the president to withdraw this decision, describing it as illegal and a violation of the state’s sovereignty.

Democratic governors from other states also expressed support for California’s position.

Kabul could run out of drinking water within five years, according to The Guardian, citing the humanitarian organisation Mercy Corps.

Mercy Corps estimates that the Afghan capital has already lost half of its wells due to drying out. Climate change and rapid population growth are worsening the situation.

Most residents rely on polluted water, while some households spend up to 30% of their income on it. Mercy Corps has urged the international community to address the crisis to prevent increased migration and a further decline in living conditions for Afghans.

In 2024, Afghan authorities reported that 21 mln people...