The dollar exchange rate in Uzbekistan fell to 12,844.21 soum on November 21, down by 11.72 soum from the previous day. The Central Bank of Uzbekistan set the rate at the same level.
In banks, the dollar buying rate ranges from 12,790 to 12,840 soum, while the selling rate fluctuates between 12,870 and 12,820 soum.
Uzbekistan has no restrictions on gas supply to greenhouses, the Ministry of Energy confirmed in a recent statement.
The Ministry clarified that greenhouse owners can use gas by paying the required fees. From October to December, a 50% advance payment is required for gas supplies. Starting from January, a full 100% advance payment will be necessary.
It is important to note that since 2023, many greenhouse farms and businesses have shifted to coal to save on gas. Earlier this year, the Ministry reported that the number of greenhouses in Uzbekistan had grown 2.5 times over the past five...
Between February and October 2024, the return on investment in residential property in Tashkent dropped from 32.4% to 12.2% per year, according to data from the Institute for Macroeconomic and Regional Studies (IMRS).
The overall return on residential property consists of price growth and potential rental income.
After a period of rapid price increases in 2023, the property market in Tashkent stabilised. In the Shaykhontohur district, the yield from price changes fell from 35.8% annually in February 2024 to 5.5% in October. In the Mirabad and Yakkasaray districts, it dropped from 23.2% and 16.1% to 1.9% and 3.5%, respectively.
Uzbekistan’s GDP has crossed the $100 bln mark for the first time, President Shavkat Mirziyoyev announced during a speech to the Legislative Chamber of the Oliy Majlis.
The country’s GDP has doubled over the past five years. Exports have also hit a new record, surpassing $25 bn, beating last year’s figure of $24.4 bn.
Uzbekistan is on track to achieve a per capita GDP of $3,000. The World Bank projects the country to be among the top three fastest-growing economies in Europe and Central Asia by the end of 2024.
Foreign investments have played a vital role in Uzbekistan’s...
In the next five years, Uzbekistan’s population will grow to 40 mln, President Shavkat Mirziyoyev announced during a session of the Legislative Chamber of the Oliy Majlis.
He pointed out that this demographic growth presents a major opportunity, but also brings new and urgent challenges.
Mirziyoyev noted that the population’s demands are increasing, particularly in areas like poverty reduction, ecology, energy, and other sectors.
He added that addressing these challenges will be a significant test for the government.
The President emphasised that the candidate nominated for Prime Minister must take these issues into account and present a plan for...
Uzbekistan plans to sell state stakes in 2,000 enterprises, more than 5,000 properties, and offer shares in 16 major complexes through IPOs within the next five years, President Shavkat Mirziyoyev announced at a session of the Legislative Chamber of the Oliy Majlis.
The government also aims to implement public-private partnership projects worth $30 bln.
Mirziyoyev outlined key initiatives for the upcoming year. The Cabinet of Ministers must speed up the transformation of state-owned companies and cut their expenses by 15–20%, focusing on efficiency and stability.
To meet these objectives, the National Investment Fund must operate effectively. It now holds...
Uzbekistan’s economy could grow to $200 bln by 2030 if reforms continue and the government performs effectively, President Shavkat Mirziyoyev stated during an address to the Legislative Chamber.
The President tasked officials with maintaining annual economic growth rates of 6–7% and achieving a steady decline in inflation to 5–6%. He also emphasised that the budget deficit must not exceed 3% of government expenditures.
The future government will need to boost exports to $45 bln, partly by joining the World Trade Organisation (WTO) and increasing the share of finished goods to half of total exports.
Mirziyoyev highlighted the importance...
By 2025, Uzbekistan aims to lift one million people out of poverty. President Shavkat Mirziyoyev announced this during a session of the Legislative Chamber of the Oliy Majlis. He assigned the Cabinet of Ministers to oversee this goal.
The government will allocate 500 billion soum to provide free education for children from low-income families. These funds will focus on teaching foreign languages and vocational skills.
An additional 2 trillion soum will go towards upgrading infrastructure in 1,000 socially disadvantaged neighbourhoods.
In total, Uzbekistan plans to invest 46.5 trillion soum to reduce poverty and improve living standards across the country.
Citizens of Uzbekistan will soon be able to travel to Tajikistan and Kazakhstan using their internal ID cards. This announcement was made by the President of Uzbekistan, Shavkat Mirziyoyev.
Currently, such an agreement exists only in Kyrgyzstan.
President Mirziyoyev emphasized that Uzbekistan’s foreign policy should be based on strengthening good-neighbourly relations with Central Asian countries and protecting the republic’s independence and sovereignty, with the support of the armed forces.
The President highlighted the importance of maintaining strong relationships with Uzbekistan’s immediate neighbours to ensure regional stability and security. Good-neighbourly ties with Central Asian states will remain a priority in...
Photo: Mironov Vladimir / Shutterstock / FOTODOM
Uzbekistan has demonstrated impressive growth in its exports of cauliflower and broccoli, nearly tripling their volume and increasing their value by 3.8 times over the last three years to reach a significant total of $17.6 mln, as reported by EastFruit.
The primary markets for these exports are Russia, Kazakhstan and Kyrgyzstan, representing 96% of total exports.
New and promising markets are emerging, such as the United Arab Emirates, where prices for these vegetables are three times higher than the average. Mongolia and Vietnam have also shown notable increases in their imports in...
Photo: Porsche
The German car manufacturer Porsche’s first dealership centre opened in Tashkent. This new centre is situated in Tashkent City Park.
At the Porsche Studio, visitors can explore the latest models, including the fully electric Macan 4, and use a configurator to create a personalized version of their car. All vehicles are delivered directly from the factory in Germany.
The official opening of the Porsche Studio is scheduled for November 23. In addition, the company is currently constructing a full-scale Porsche Destination Center, which will offer comprehensive services for the brand’s vehicles in Uzbekistan. The groundbreaking ceremony for this...
By the end of 2025, Uzbekistan’s public debt is projected to reach $45.1 bn, according to forecasts from the Uzbek Ministry of Economy and Finance. This state debt will represent 36.7% of the country’s GDP.
External debt is expected to rise from $33.9 bn by the end of 2024 to $39.4 bn in 2025. The net volume of government bonds issued in 2025 will total 30 trillion soums.
The exact forecasts indicate that by the end of 2024, the state debt will be approximately $39.7 bn. This means the country’s debt obligations will increase by 13.8% this year and...
Uzbekistan is ready to host the inaugural M360 Eurasia 2025 following a Memorandum of Understanding (MoU) signing in Doha, Qatar, as notified by Veon press-office.
The agreement was sealed by Uzbekistan’s Minister of Digital Technologies, Sherzod Shermatov, GSMA Director General Mats Granryd, Beeline Uzbekistan Chairman and VEON Group CEO Kaan Terzioglu and incoming Beeline Uzbekistan CEO Andrey Pyatakhin.
The M360 series, presented by GSMA, aims to unify the regional mobile ecosystem through global events that foster innovation, contribute to positive business environments and drive societal change.
Shermatov highlighted Uzbekistan’s ambitious digitalisation agenda, emphasising its role in enhancing national prosperity...
Uzbek President Shavkat Mirziyoyev has signed a law establishing a mechanism for declaring foreign citizens and stateless persons as undesirable in Uzbekistan. This document was published on the Lex.uz portal.
Foreigners who promote interethnic, social, or interstate hostility will be classified as undesirable. The inclusion of individuals on this list is based on submissions from the Kengashes of the Zakpata and the Senate of the Oliy Majlis, along with other specially authorised authorities.
Individuals identified as undesirable will not be permitted to open bank accounts in Uzbekistan or participate in the privatisation of state assets. A...
From 8 to 15 November 2024, the Toshkent Republican Stock Exchange saw a significant overall change in share prices. During this period, 5.6 thousand transactions worth 1.8 trillion soums were carried out on the stock market. Kursiv Uzbekistan analysed how the situation on the market of highly liquid shares changed over the past week.
Uzbekistan Composite Index (UCI) rose by 0.51% to 632.88 points over the week. The largest growth was recorded in Alokabank shares (30.79%).
Also, common securities of Hippodrome – Сhilonzor buyum savdo kompleksi(8.14%) and preferred shares of Uzbektelecom (8.72%) showed significant growth.
Shares...
On Monday, November 18, the concentration of harmful PM2.5 particles in the air of Tashkent exceeded the permissible limit by 13.4 times, according to data from the IQAir platform.
The capital of Uzbekistan ranked 11th on the list of cities with high air pollution levels.
The leading cities in the ranking were Delhi (India), Lahore (Pakistan), and Baghdad (Iraq).
Around 75% of people in Uzbekistan are ready to report corruption, according to a survey by the country’s Anti-Corruption Agency.
The study involved 500 participants from across Uzbekistan, including employees from 10 ministries and 20 anonymous state agency staff. Over 88% of respondents condemned those who accept bribes. They were more lenient toward those who paid bribes under pressure.
The survey participants ranked healthcare, higher education, preschool and secondary education, and local government as the most corrupt sectors. Moreover, 13.8% of people did not see gifting officials as corruption but as a sign of appreciation.
However, 18.4% of respondents said...
A ceremony to honour the winners of the Gross Travel Awards 2024 took place in Tashkent.
The Tourism Committee, the Ministry of Ecology, and the Gross Insurance Company organised the event.
Asialux Travel and PrestigeTravel were named the best tour operators.
Talgat Kambarov received the “Tourism Legend” award for his contribution to the industry. He has worked in this field since the 1990s.
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Russian company Yandex signed contracts with retail networks in Uzbekistan, Kazakhstan, and Russia to trial autonomous cameras equipped with artificial intelligence (AI), according to Kommersant.
The development of these cameras represents a new direction for Yandex, with the project named Smart Store. The company believes this will be economically viable in the context of a shortage of staff.
It is noted that Yandex plans to use computer vision technology to collect and organize data on the range of goods in retail spaces. The technology is also capable of tracking the number of visitors.
The company has not disclosed the...
A gold pocket watch by Tiffany & Co. sold at a Henry Aldridge and Son auction for nearly $2 mln. Captain Arthur Rostron of the RMS Carpathia owned the watch and led the rescue of Titanic survivors, according to the BBC.
Survivors of the Titanic gifted the watch to Rostron in gratitude. The Carpathia saved over 700 passengers after answering the ship’s distress call.
The watch achieved a record price of £1.56 mln ($1.97 mln), the highest ever for a Titanic artefact. The buyer’s identity remains private.
Samarkand completed its Year of Art and Friendship, held under its status as the CIS Cultural Capital. The event ended with a CIS Youth Symphony Orchestra performance, led by conductor Sergey Skripka.
At a ceremony in the Regional Theatre of Musical Drama, Samarkand officially transferred the title to Lachin, an Azerbaijani city that will hold the status next year.
The Youth Fencing World Cup stage ended in Tashkent with Uzbekistan’s national team claiming victory in both the men’s and women’s categories. The National Olympic Committee of Uzbekistan reported the results.
Uzbekistan’s men’s team defeated Kazakhstan in the finals, while the women’s team outperformed Bulgaria.
Hungary secured third place in the men’s event, and Romania finished third in the women’s competition.
Kursiv Uzbekistan also reports that Uzbekistan’s football team lost to Qatar last week.
On November 16, the first tourist train connecting Kazakhstan and Uzbekistan departed from Almaty. The new rail tour, organised by Passenger Transportation, brought together 115 participants. Over five days, travellers will visit Turkestan and Tashkent, following the Almaty – Turkestan – Tashkent – Almaty route.
The tour includes a one-day stop in Turkestan and two days to explore the main attractions in Tashkent. Nariman Dyussekeyev, a representative of the company, explained that this marks the first intergovernmental tourist train from Kazakhstan.
Dyussekeyev also suggested that future routes, including trips to Russia, could be in the works.
Jake Paul, 27, beat 58-year-old boxing legend Mike Tyson by unanimous decision in a fight streamed live on Netflix.
The eight-round bout went the distance, with judges scoring it 80-72, 79-73, and 79-73 in Paul’s favour.
This win marked Paul’s 11th career victory, while “Iron Mike” recorded the seventh loss of his career.