News

Industry professionals from Uzbek and foreign companies will be leading lectures and masterclasses on forging a successful career in IT for young professionals in 19 cities nationwide.

The IT Roadshow will feature expert guidance on securing initial employment or transitioning to freelance work, rapidly acquiring new skills, optimizing a LinkedIn profile, leveraging AI tools for professional growth and initiating IT startups. Esteemed speakers at the IT Roadshow will include:

The construction of eight new incineration plants in Uzbekistan is a significant step towards managing the country’s waste and generating renewable energy. With the capacity to process 4.7 mln tonnes of waste annually and produce 2.1 bln kWh of electricity, these plants will substantially contribute to Uzbekistan’s energy sector, the press office of the President of Uzbekistan reported.

The involvement of investors from China, the UAE and South Korea, with a total investment of around $1.3 bln, demonstrates a solid commitment to the country’s sustainable development. The targeted locations for these plants reflect a comprehensive approach to waste management.

On October 21, the price of a 5-gram gold bar in Uzbekistan hit a record high of 5.75 mln soums, the Central Bank of Uzbekistan reports. The previous record stood at 5.74 mln soums on October 18.

As of October 21, a 10-gram bar increased to 11.5 mln soums, while a 20-gram bar rose to 23 mln soums. The price for a 50-gram bar soared to 57.5 mln soums.

On Friday, October 18, the prices were 5.74 mln soums for a 5-gram bar and 11.4 mln soums for a 10-gram bar.

The gas production in Uzbekistan reached 33.4 bln cubic metres by early October 2024. This marks a 4.8% decline compared to the previous year.

As gas production falls, the country has boosted imports of mineral fuels by 59.2%, bringing the total to $3 bln. Of this amount, $1.2 bln comes from gas imports.

In late August, Alexey Miller, the head of Gazprom, announced that the Russian company had increased gas supplies to Central Asian countries, including Uzbekistan.

For the first nine months, Uzbekistan’s gas exports totalled $479.5 mln, reflecting a 16.5% annual increase. TASS reports, citing the...

FAW Trucks, a Chinese company, will invest $100 mln to establish a truck factory in Andijan, according to the regional government administration.

Construction will begin in November. The factory will have the capacity to produce up to 10,000 trucks each year. A delegation from FAW Trucks visited the future site within the “Ipak Yuli” free economic zone (Silk Road).

In 2023, FAW Trucks launched truck assembly in partnership with UzAuto Trailer and Vodiy Universal Majmua. The company also promised to explore the production of electric trucks powered by clean energy.

FAW Trucks operates as a subsidiary of...

Large solar and wind power plants in Uzbekistan have produced 4 bln kWh of electricity since the start of the year, the Ministry of Energy of the Republic of Uzbekistan reports.

Currently, the country has one wind power station and nine solar power stations, with a total capacity of 2.7 GW. By midday on October 20, solar stations had generated nearly 3.5 bln kWh of energy, while the wind station contributed 506 mln kWh.

The generation of electricity from alternative sources is on the rise. In 2023, solar power stations produced only 800 mln kWh of electricity. It took...

Starting on November 15, Uzbekistan Airways will begin flights from Tashkent to Lahore, Pakistan, according to the agency Dunyo.

“The simplification of the visa process for Pakistanis and the introduction of direct flights is great news for the Pakistani community. This shows that Uzbekistan’s leader is committed to restoring interregional connections,” said Honorary Consul of the Republic of Uzbekistan Najib Mushtaq Vohra.

He added that Pakistani citizens can now use Tashkent as a transit hub.

Additionally, plans are underway to launch new routes between the two countries in the future.

Uzbekistan and the European Union (EU) aim to expand economic cooperation, the Ministry of Investments, Industry, and Trade of Uzbekistan announced.

The ministry’s head, Laziz Kudratov, met with the EU Ambassador to Uzbekistan, Toivo Klaar, to discuss ongoing projects in geology, the chemical industry, and energy and explore new areas for collaboration.

The Ministry of Investments reported that 997 companies in Uzbekistan currently involve European investment.

Kursiv Uzbekistan reported that German Chancellor Olaf Scholz visited Uzbekistan in September.

According to the Minister of Transport, Ilkhom Mahkamov, the Trans-Afghan railway project is set to commence in 2025.

«I expect the project’s foundation to be laid in 2025. Given the construction’s complexity, it will take at least five years to complete,» Mahkamov told Daryo during the “Week of International Initiatives.”

The minister noted that the primary challenge involves building the railway through Afghanistan.

The railway, running from Termez to Peshawar, will allow Central Asian countries to access Pakistan’s ports, reducing costs and speeding up freight transport.

Kursiv Uzbekistan also reports on plans to complete the Trans-Afghan railway by...

Sergey Mironov, the leader of the Russian party Spravedlivaya Rossiya, proposed introducing a visa regime with Uzbekistan after the Consulate General of the Republic of Uzbekistan in Kazan urged fellow countrymen not to join the ranks of the Russian army.

“Why didn’t they urge them not to receive maternity capital? Or to forgo other benefits? That’s acceptable! But defending the country that feeds you is not. Visa regime! And only that! We don’t need such ‘citizens’,” Mironov wrote on the social network X.

The head of the Milliy Tiklanish party, Alisher Kadyrov, responded to the post. He stated that...

The Netherlands and Germany are reportedly discussing a plan to send illegal Afghan migrants to Uzbekistan, The Times reports.

Several European leaders have called for the swift establishment of deportation centres outside the EU to handle migrants who lack legal grounds to stay in the union, including those from Afghanistan and Syria whom European countries cannot send back due to humanitarian concerns.

Italy has already established the first deportation centre outside the EU and transferred a group of 16 illegal migrants to Albania. The Netherlands is considering sending asylum seekers to Uganda.

Discussions about a potential agreement on deporting...

Uzbekistan aims to grow its gross domestic product (GDP) to $200 billion by 2030, with nominal GDP per capita rising above $5,000, announced Behzod Khamraev, Deputy Chairman of the Central Bank of Uzbekistan.

The regulator has revised its economic growth forecast upward. Earlier, President Shavkat Mirziyoyev stated that the country’s GDP would reach $160 billion within the next five years.

The Central Bank estimates that by the end of 2024, the economy will expand to $111 billion, with nominal GDP per capita exceeding $3,000 for the first time.

Uzbekistan’s economy grew by 6.6% in the first nine months of...

Uzbekistan plans to open trading for foreign company shares on the local stock exchange and allow Uzbek firms to issue bonds in foreign currencies. The National Agency for Perspective Projects (NAPP) is currently drafting the presidential decree needed to implement these initiatives. On October 15, market participants gathered at the Chamber of Commerce and Industry to discuss the opportunities and risks involved, according to Kursiv Uzbekistan.

How the listing mechanism will work

George Paresishvili, Chief Executive Officer at the Republican Stock Exchange (RSE) “Toshkent,” explained that an unsponsored listing, or admission to trading, requires a comprehensive approach.

«The regulator needs...

The President of Uzbekistan, Shavkat Mirziyoyev, has announced that foreign investors can now buy shares of Uzbek state companies using foreign currency.

Investors will purchase shares of state companies through the Republican Stock Exchange “Toshkent,” with the specific currency for each transaction clearly stated in the contract.

The new decree also establishes a procedure for the state acceptance of land plots in industrial zones. A commission will ensure that only plots with the necessary infrastructure qualify for bidding.

If investors need additional infrastructure facilities, they can construct them independently and receive compensation from the funds allocated for the industrial...

Gold prices set a new record on September 27, with the cost of a five-gram bar rising to 5.74 mln soums, the Central Bank of Uzbekistan reports.

After a slight correction in early October, the prices for the precious metal resumed their upward trend. The Central Bank of Uzbekistan’s bars and coins increased in price alongside rising global gold futures. On October 17, the price of an ounce surpassed $2,710 for the first time.

Analysts link the acceleration in gold prices to the recent release of unemployment and retail sales reports in the United States. Both...

The Ministry of Digital Technologies will receive a $50 mln loan for the development of artificial intelligence (AI) in Uzbekistan, as stated in a decree by President Shavkat Mirziyoyev.

The ministry will start receiving the funds at the beginning of next year. The loan, which has a five-year term, will be repaid through the Digital Technology Development Fund and other sources of financing.

The decree also outlines priority areas for AI implementation in the country up to 2026. Over the next two years, AI is set to be introduced in the banking and financial sectors, healthcare, and agriculture.

AI...

IT Park will establish a venture fund with an authorised capital of $10 mln, according to a decree by President Shavkat Mirziyoyev of Uzbekistan.

The President had outlined the plan to create a venture fund during a meeting with entrepreneurs in August 2024.

The new organisation aims to provide financial support for start-ups in the IT sector.

Additionally, Uzbekistan will reorganise the UzVC venture fund into a “Fund of Funds” to finance similar initiatives. These funds will focus on building investment portfolios and attracting investors.

The venture fund at IT Park will receive a $50 mln loan for a...

Uzbekistan maintains a neutral stance regarding joining international defence structures and military alliances, stated Akmal Saidov, First Deputy Speaker of the Legislative Chamber of the Oliy Majlis.

“If we are talking about joining any militarised defence structures or organisations, then no, we do not consider such a possibility,” Saidov said at the opening of the International Partnership Initiatives Week.

Daryo news agency reported Saidov’s remarks.

He further stated that Uzbekistan would never send “our boys” to participate in military missions abroad. The politician also ruled out any possibility of foreign military bases being established on the country’s territory.

Uzbekistan will implement a healthcare digitalisation project, announced Saida Mirziyoyeva, Assistant to the President.

“All key processes in medical institutions will gradually undergo automation, and new software solutions will integrate patient health data from various sources into a unified medical record,” Mirziyoyeva stated on her Telegram channel.

She noted that the project aims to improve the efficiency of all levels within the healthcare system.

The integrator company UZINFOCOM is leading the initiative. Recently, Mirziyoyeva visited the organisation and reviewed a presentation on the project’s progress.

Uzbekistan’s GDP grew by 6.6% over the first nine months of 2024, while industrial output rose by 7%. These results were presented to President Shavkat Mirziyoyev during an economic meeting.

At the beginning of October, the country’s gold and foreign exchange reserves exceeded $40 billion for the first time, and deposits in the national currency increased by 50%.

The share of investment in GDP this year is expected to surpass 33%, with exports projected to rise by 19%.

The meeting underscored that stronger foreign investor confidence enabled the issuance of $4 billion in eurobonds on the global market. International...

In the third quarter of 2024, the Central Bank of Uzbekistan purchased gold from domestic producers worth 29.5 trillion soums, according to data from the regulator.

This volume represents an 11.7% increase compared to the previous quarter.

The Central Bank reported that interest in the precious metal has risen amid geopolitical conflicts and challenging external economic conditions. From June to September, gold prices fluctuated between $2,400 and $2,600.

Statistics from the World Gold Council indicate that, over the past decade, the Central Bank of Uzbekistan has added 154 tonnes to its gold reserves.

As of early October, Uzbekistan’s...

IT exporters in Uzbekistan can take advantage of tax incentives outlined in a presidential decree.

Foreign companies whose governments have not signed double taxation avoidance agreements with Tashkent will receive an exemption from profit tax until the end of the calendar year. This initiative will remain in effect through the year-end.

Companies that assist residents—exporters from the IT Park—will also qualify for exemption from this tax. This provision will apply from early February 2025 until the beginning of 2030.

Foreign founders of IT Park residents can benefit from a 5% tax rate on income and profits, provided their export...

Men and women engage in corruption schemes at different levels, according to Oliver Stolpe, Regional Representative of the United Nations Office on Drugs and Crime (UNODC) for Afghanistan, Central Asia, Iran, and Pakistan.

“In many societies, it’s not surprising that women request bribes far less often. More notably, female public officials show a 50-60% lower likelihood of involvement in corruption schemes compared to their male colleagues,” Stolpe stated at the 4th Tashkent Anti-Corruption Forum.

Stolpe joked that these statistics “say a lot about men.”

The 4th Tashkent Anti-Corruption Forum, held on October 17, brought together more than 250 anti-corruption officials...

President Shavkat Mirziyoyev has signed a decree to approve a strategy for developing artificial intelligence (AI) in Uzbekistan through 2030, the Ministry of Justice reports.

The country plans to increase the volume of AI-based programmes and services to $1.5 billion by 2030. Additionally, the number of laboratories focused on AI will grow to ten.

The unified government services portal will see the share of services provided by AI reach 10%.

As part of the project, officials will launch computational capacities for data processing by 1 May 2026.

Earlier, it was reported that an AI centre and a...