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According to preliminary data from the Statistic Agency of Uzbekistan, the country’s real GDP grew by 6.5% in 2024, amounting to 1,454 trillion soums. This growth rate surpassed the figures recorded in 2022 and 2023, when the economy grew by 6% and 6.3%, respectively.

In 2024, GDP per capita reached 39.1 million soums in current prices, equivalent to $3.1 thousand at the average annual exchange rate. This represents an actual increase of 4.4% compared to 2023.

The industrial sector, trade, and hotel and catering services significantly contributed to the country’s economic growth. By the end of the year, the...

Tashkent Metro carried 270.3 mn passengers in 2024, marking a 57.2% increase compared to 2023, according to Uzbekistan’s Statistics Agency.

Late last year, the metro system reported the purchase of three new train sets.

In addition, Uzbekistan’s authorities plan to begin constructing a metro system in Samarkand, one of the country’s largest cities.

Uzbekistan’s railway network transported 73.9 mn tonnes of cargo in 2024, according to the country’s Statistics Agency.

Freight turnover increased by 0.3% compared to 2023 and grew by nearly 4.7% over the past five years.

As of the first half of 2024, the largest share of rail freight consisted of ore, coal, oil, and petroleum products.

China’s medium-term lending facility (MLF) rate remains unchanged at 2.0%, marking the fourth consecutive month at this level, according to Trading Economics.

On Friday, the People’s Bank of China provided financial institutions with ¥200 bn ($27.4 bn) through a one-year lending facility.

In September 2024, the central bank cut the rate by a record 30 basis points, highlighting efforts to support the economy.

From May 1, 2025, all foreign nationals entering Thailand will be required to complete an online version of the immigration form TM6, the Bangkok Post reports.

The online form will replace the paper version, which was discontinued in April 2024.

According to Thailand’s Ministry of Tourism and Sports, the form will be free of charge and mandatory for all travellers, regardless of whether they enter the country by air, land, or sea. The new system aims to streamline the entry process, enhance tourist safety, and improve monitoring of visitors during their stay.

The introduction of the TM6 system has also...

Republican Congressman Andy Ogles has proposed an amendment to the US Constitution that would repeal the 22nd Amendment, which limits presidents to two terms, according to Axios.

Ogles, a staunch supporter of President Donald Trump, argued that the change is necessary to address the challenges left by the Biden administration.

«It’s vital to give President Trump every resource needed to correct the disastrous direction set by the previous administration,» he said.

To pass, the proposal requires approval from 290 members of the House of Representatives and 67 senators. It must then be ratified by at least 38 states.

The 22nd...

Citizens in Uzbekistan will retain the right to photograph and film law enforcement officers on duty. However, penalties have been introduced for actions deemed to discredit officers. These amendments were approved by the Senate of the Oliy Majlis.

The updated law allows citizens to record officers, share images or videos online, and use them as evidence in court. However, it specifically defines “discrediting” as distorting actions, words, or events, including through manipulated photos or videos. Offenders face fines of up to 18.75 mn soum or administrative detention of up to ten days.

Previously, the Ministry of Internal Affairs had proposed...

Uzbekistan-based Merit Chemicals plans to enter the Kyrgyz market, according to Kyrgyzstan’s Ministry of Economy and Commerce.

This development followed a visit by a delegation from Kyrgyzstan’s Trade Mission to Angren, where the company is headquartered.

The parties agreed to facilitate an exchange of expertise between Merit Chemicals and Kyrgyz enterprises involved in chemical production. Merit Chemicals is also considering opening a representative office or a branch in Kyrgyzstan.

Established in 2007, Merit Chemicals produces around 400 types of chemical products. The company already operates representative offices in Kazakhstan, Turkey, and Tajikistan.

Throughout 2024, the average annual business climate index in Uzbekistan stood at 42 points, according to a report by the Centre for Economic Research and Reforms (CERR).

This figure indicates a favourable business environment in the country. The highest business climate level was recorded in January at 61 points, while the lowest was in October at 42 points.

The survey revealed that construction, agriculture, and industrial enterprises remained optimistic throughout the year.

Business expectations for demand over the next three months ranged between 57% and 74%.

Additionally, 54% of surveyed enterprises reported no significant obstacles to conducting business.

Concerns...

Azerbaijan is proposing to allow citizens aged 21 and older to purchase civilian firearms, according to an amendment to the law “On Service and Civilian Weapons” introduced by the Milli Majlis Committee on Defence, Security, and Anti-Corruption, Haqqin.az reports.

Additionally, the amendment seeks to permit citizens aged 18 and above to purchase civilian weapons, excluding firearms.

If adopted, Azerbaijan will become the first country in the CIS and the post-Soviet region to legalise the acquisition and possession of civilian firearms.

On January 24, the price of a five-gram gold bar set a new record, rising to UZS 5.96 mn, the Central Bank of Uzbekistan reports.

The price of a ten-gram gold bar increased to UZS 11.93 mn, a twenty-gram bar to nearly UZS 23.87 mn, a fifty-gram bar to UZS 59.66 mn, and a 100-gram bar to UZS 119.32 mn.

The rise in the Central Bank’s gold prices aligns with a global surge in the value of the precious metal. Gold is currently trading near its all-time high, with a troy ounce priced at approximately $2,780.

The strong...

As the Ministry of Transport of Uzbekistan reported, the country has introduced a system for planning and monitoring uncrewed aerial vehicle (UAV) flights called ATM: Safe Sky. The platform was developed by the center Uzaeronavigatsiya.

ATM: Safe Sky allows users to create drone flight routes in advance. It features a map that displays the movement of other drones and current restrictions on airspace usage.

The software can be installed on a computer or smartphone and provides real-time flight data. In the future, the system will include capabilities for UAV position tracking and a module for submitting flight requests.

Construction has begun on an electrified railroad in the Parkent district of the Tashkent region. The project, which spans a total length of 23.8 kilometers, officially started on January 22 at the Baitkurgan-Parkent crossing.

The new railroad will feature the construction of two split points, four bridges, two trestles, a tunnel-type trestle, 78 aqueducts, and seven crossings for both road and railroad traffic.

Kursiv Uzbekistan also reports that a toll road between Samarkand and Bukhara is set to be constructed by Turkish firm IC İçtaş İnşaat.

The Ministry of Transport of Uzbekistan has announced the opening of tenders for the construction of a toll road from Tashkent to Andijan.

In the first phase, a 171-kilometer highway will be built from the capital to Angren and the Kamchik Pass. This project will be conducted under public-private partnership (PPP) principles. Once construction is completed, the winning bidder will also be responsible for the road’s maintenance and operation.

Bids will be accepted until April 21, 2025. To participate in the tender, a company must have experience in road construction under PPP projects and meet specific minimum requirements.

Qualified...

A Tashkent’s decree issued by the city’s khokim, Shavkat Umurzakov, encourages Tashkent’s civil servants to wear national costumes to work on Fridays.

Wearing national costumes will become a mandatory requirement at public events.

The city plans to organize costume contests, fairs, and training seminars for artisans to promote traditional crafts and cultural heritage.

The regional department of the Trade and Industry Board of Uzbekistan will create initiatives to support ethnic clothing producers. Additionally, the capital intends to establish training centers focused on designing and sewing traditional garments.

There are also plans to adorn public transport and travel documents with national...

According to a report from the Khokimiyat press service, construction of a handicraft industrial zone has commenced in the Buvaidi district of the Ferghana region.

The new cluster will focus on the production of household tools and blacksmithing. Around 400 families from the Yangikishlok Mahalla are involved in this craft.

The local blacksmiths have expressed their support for the initiative proposed by regional khokim Khairullo Bozarov to establish a blacksmith cluster in their community. This 3.5-hectare craft zone will feature infrastructure and fully equipped workshops, allowing up to 600 people to work in the facility. The total investment for...

According to the firm’s press service, French company Proparco has announced a $20 mln loan to Uzbekistan’s Davr Bank.

The funds will support small businesses and improve women’s access to financial services. Proparco highlighted that this initiative aligns with its mission of Helping Reduce Inequality.

“The funding will significantly enhance access to finance for small businesses, a crucial part of the country’s economy. A considerable portion of the funds must be allocated to support women entrepreneurs,” stated Abdumajid Samadov, chairman of Davr Bank.

Proparco is a the French Development Agency (AFD) subsidiary established in 1977. It is focused on...

Khokims should view housing construction as a social responsibility and a key driver for regional economic development, stated Uzbek President Shavkat Mirziyoyev during a meeting focused on mortgage development.

In 2024, Uzbekistan allocated 17 trillion soums in mortgage loans to stimulate the construction industry.

Last year, builders and developers received 3 trillion soums in working capital. The growth in construction contributed to creating jobs for 350,000 individuals across various sectors of the economy.

In 2024, 2,000 high-rise buildings were constructed. Over the past four years, the average housing area per person has increased from 16 to 19 square meters.

The Business Development Bank and Microcreditbank reported losses of 2.2 trillion soums and 1.7 trillion soums, respectively, for 2024. This information was confirmed by the deputy chairmen of the financial institutions, Bakhromhuja Sharipov and Bahadir Allaniyazov, during a media dialogue at the Central Bank of Uzbekistan on January 22, as reported by Kursiv Uzbekistan.

The primary reason for these losses is problem loans. As a result, the banks had to allocate a significant portion of their profits to reserves, which contributed to the overall losses.

Nusratulla Fazilov, head of the Central Bank’s prudential supervision department, stated that there...

Anastasia Novikova, the director and editor-in-chief of Kursiv Uzbekistan, has been appointed as the general director of Kursiv.Media, a well-known publication in Kazakhstan. In her new role, she will also continue to oversee the Uzbek editorial office.

Novikova has led Kursiv’s Uzbek subsidiary since 2022. Prior to that, she held senior positions in several prominent Kazakhstani media outlets, including KTK, Yuzhnaya Stolitsa, Forbes Kazakhstan and Informburo.

Under her leadership, Kursiv Uzbekistan has emerged as one of the leading business media in the country. The publication gained recognition in the local event market by organising several major events aimed at...

One in three Uzbek citizens believes that Russia may introduce measures that will significantly complicate work for migrants, according to the results of a survey conducted by the Free Alliance of Euro-Asian Sociologists (FAEAS) “Focus.”

Less than a third of respondents are convinced that the situation will remain unchanged, while one in five believes that migrants will be able to overcome challenges, even if stricter controls are implemented.

Interestingly, over 6% of participants expect conditions for migrants to improve. Overall, more than half of respondents remain moderately optimistic.

The survey was conducted via telephone between 15 November 2024 and...

For the first time since late October last year, the price of gold bars in Uzbekistan has reached record highs. On January 23, the price of a five-gram gold bar rose to UZS 5.91 mn, according to the Central Bank.

As of that date, the regulator was selling a ten-gram bar for UZS 11.83 mn, a twenty-gram bar for UZS 23.66 mn, a fifty-gram bar for UZS 59.16 mn, and the largest 100-gram bar for UZS 118.32 mn.

The growing interest in gold is attributed to heightened inflationary risks in the United States and signals of tighter monetary...

India has surpassed the United Kingdom to become the world’s fourth-largest economy by GDP at the end of 2024, The Economic Times reports.

India now ranks behind the United States, China, Germany, and Japan in terms of domestic production.

The Indian government aims to position the country as the world’s third-largest economy by GDP by 2027 and plans to significantly expand domestic production by 2047. Measures include supporting small and medium-sized businesses, developing infrastructure, and integrating into global supply chains.

Uzbekistan has devised a concept for developing its night-time economy, with the draft document published by the Agency for Strategic Reforms under the President of Uzbekistan.

The document outlines ten key areas and proposes measures to increase economic activity during night hours. The authors of the concept note that its implementation will create jobs and make the country’s cities more appealing to tourists.

The draft includes plans to establish 24-hour gastronomic streets, night markets, and cultural and entertainment events. Businesses operating at night would be eligible for state support and incentives.

A significant portion of the concept focuses on...