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From January to September 2024, Uzbekistan’s total income climbed to 644.1 trln soums, up 7.7% from the previous year, according to the State Statistics Agency.

Tashkent led the regions with the highest average per capita income at 40.1 mln soums. Navoi and Bukhara followed, with 27.5 mln and 20.1 mln soums, respectively.

By early October, per capita income reached 17.4 mln soums. The real growth rate stood at 5.5% for the year, while nominal growth hit 15.5%.

Karakalpakstan saw the lowest income figures at 12 mln soums, with Namangan at 12.8 mln and Surkhandarya at 13.2 mln soums.

Kursiv...

By 13:00, voter turnout for the elections to the Legislative Chamber of the Oliy Majlis and local councils (Kengashes) reached 47.62%, according to the Central Election Commission.

The Electoral Code requires a minimum turnout of 33% for the elections to be valid.

The Fergana region recorded the highest turnout, with 51% of voters participating. Samarkand followed at 50%, and Kashkadarya saw 49%. In Tashkent, 41% of eligible voters cast their ballots.

Over 1,000 polling stations were open across the country.

Five political parties nominated 875 candidates for the Legislative Chamber, while 28,400 ran for seats in the Kengashes.

Kursiv...

Over one million citizens have engaged in early voting for Uzbekistan’s parliamentary elections, as reported by the Central Election Commission.

The Fergana region got the highest voter turnout, with 219,500 participants. The Samarkand and Kashkadarya regions followed closely, which recorded 181,900 and 153,300 voters, respectively.

From October 16 to October 23, the early voting period allowed citizens within the country and at diplomatic missions abroad to make their voices heard.

Scheduled for Sunday, October 27, the parliamentary elections will benefit from the efforts of 208 districts and city election commissions, alongside more than 11,000 precinct election...

Archaeologists have unveiled two ancient cities that have lain hidden beneath grassy pastures in the mountains of Uzbekistan for centuries, CNN reports. Utilising drone technology and LiDAR (light detection and ranging), researchers have mapped these lost urban settlements, located just 5 kilometers apart, offering new insights into the region’s historical significance as a hub of the Silk Road trade.

Known as Tugunbulak and Tashbulak, these cities reveal an unexpectedly complex urban landscape, complete with watchtowers, fortresses, and pathways that suggest thousands of inhabitants once thrived here. The settlements are situated at more than 2,000 meters...

The Agency for State Assets Management (AUGA) has announced an extension for accepting bids for the Secondary Public Offering (SPO) of the Uzbek Republican Commodity Exchange (UzEx) until November 8. This announcement was published on the agency’s portal.

The agency noted that they have received sufficient applications to purchase securities, and interest in these securities remains high.

The decision to postpone the deadline was influenced by the parliamentary elections in the republic, scheduled for October 27.

Initially, the collection of applications began in late September and was set to conclude on October 28. More than 3.2 mln common shares...

According to Daniyar Amangeldiev, the head of the Ministry of Economy and Commerce of the Kyrgyz Republic, the Kyrgyz government and the World Bank have each allocated $500 mln for the construction of the Kambar-Ata-1 Hydropower Plant (HPP).

Bishkek has determined the total cost of building the power plant. Amangeldiev noted that project partners Uzbekistan and Kazakhstan have increased interest in the hydropower facility.

In late August 2024, the Kyrgyz Ministry of Energy announced plans to begin construction of Kambar-Ata-1 next year. Bishkek allocated $7 million in 2023 to prepare for the construction work.

This year, a special council...

In the third quarter of 2024, Uzbekistan opened 271 travel agencies, 29 hotels, and 80 hostels, according to experts from the Institute of Macroeconomic and Regional Studies (IMRS).

From July to September, the country welcomed 2.2 million foreign tourists, with ninety percent coming from the Commonwealth of Independent States (CIS). Currently, citizens of 90 countries can visit Uzbekistan without a visa, and this list will expand to 120 countries by 2025.

IMRS estimates that for successful tourism development in Uzbekistan, at least 100 new hotels with a capacity of 15,000 guests will need to be built. Experts recommend prioritising...

Uzbek President Shavkat Mirziyoyev and Vietnamese Prime Minister Pham Minh Chinh recently discussed enhancing tourist flow between their countries by establishing a visa-free travel regime. This meeting occurred during the BRICS summit in Kazan, Russia, highlighting both nations’ commitment to fostering stronger connections.

Introducing a visa-free regime can increase tourism and significantly create robust business opportunities. The leaders expressed their enthusiasm for collaborating on a program that promotes partnerships in various sectors, including petrochemicals, agriculture, electrical engineering and textiles.

They agreed to convene a bilateral commission focused on trade and economic issues to further these efforts, hosting an industrial...

The international IT company Softline, specialising in cybersecurity and digital transformation solutions, announced its entry into the Uzbek market. Uzbekistan becomes the second Central Asian country where the company has set up an office, as stated on its website.

In Uzbekistan, Softline will provide a full range of services, including product implementation, support, and specialist training. The company plans to promote its own solutions and collaborate with other vendors.

“We are excited to start operations in Uzbekistan. This move will help more clients achieve their digital transformation goals,” said Roman Yashin, Central Asia director at Softline.

Softline operates in...

Uzbekistan’s national football team moved up in the latest FIFA rankings, climbing from 60th to 58th.

The team stands as Central Asia’s top football side.

Argentina, France, and Spain continue to lead the rankings.

Kursiv Uzbekistan also reports that midfielder Abbosbek Fayzullayev suffered an injury during training before the World Cup qualifier against the UAE.

As of early October 2024, Uzbekistan’s permanent population surpassed 37.3 mln, reflecting an annual growth of 2.1%, based on data from the Statistics Agency.

The population includes 18.8 mln men and 18.5 mln women. Around 19 mln people reside in urban areas, while 18.3 mln live in rural regions.

As of January this year, the average age of an Uzbek man was 28.5 years, while for an Uzbek woman, it was 30 years.

According to the State Statistics Agency, the working-age population accounted for 56.4% of the total at the start of the year.

Projections suggest that by...

The American aerospace company SpaceX aims to assist Uzbekistan in developing its national space programme, acting as a consultant, according to Uzbekcosmos.

Uzbekcosmos representatives brought up the collaboration at the International Astronautical Congress held in mid-October in Italy.

The British company Surrey Satellite Technology, which builds small satellites, also plans to support Tashkent in this endeavour.

In addition, the Kyushu Institute of Technology will help train Uzbek specialists in aerospace engineering.

Kursiv Uzbekistan also reports that Uzbekistan had signed the Outer Space Treaty.

Navoi Mining and Metallurgical Combine (NMMC) is dedicated to empowering women, as stated by Ra’no Kosimova, Head of the Organisational Development Department.

Kosimova made this statement during a session on women in the mining industry at the International Mining and Metallurgical Forum of Uzbekistan.

Sabokhat Nazarova, head of the women’s community at NGMK, added that the company is implementing the principles of gender equality and promoting women’s rights.

She emphasised, “We are committed to meeting the needs of women working at the company, such as equal access to training and professional development.” NGMK partnered with IWiM, an international non-profit organisation...

Financial services in Uzbekistan and other Central Asian and Caucasian countries will increasingly move towards digital formats, according to research by S&P Global Ratings. Kursiv Uzbekistan has obtained the report detailing these findings.

Analysts note that expanding mobile and internet networks, along with rapid technological advancements in these regions, drive digitalisation. This shift creates a strong consumer demand for online services, prompting banks to invest more in digital platforms.

The areas of accepting deposits and issuing loans remain less affected by digital transformation. In contrast, banks encounter growing competition in online payments. S&P predicts that this competition may lead financial organisations to...

Uzbekistan plans to collaborate with the BRICS New Development Bank to carry out investment and social projects, as Uzbek President Shavkat Mirziyoyev mentioned during his speech at the BRICS summit in Kazan.

Mirziyoyev emphasised Uzbekistan’s readiness to enhance cooperation with BRICS countries, particularly in addressing poverty and global economic inequality.

The alliance could serve as a platform for joint initiatives to foster the digital economy and reduce trade barriers. Uzbekistan is also keen on securing international financing for infrastructure projects.

According to the Uzbek president, partnering with BRICS countries presents opportunities to establish new transport corridors...

Uzbekneftegaz is exploring the option of issuing additional eurobonds, according to the company’s press service.

A delegation from Uzbekneftegaz discussed this with representatives from Deutsche Bank, Barclays, and other foreign banks in the United Kingdom. During the meeting, these financial institutions showed interest in financing the Uzbek company in 2024 and 2025.

They also looked into potential financial support measures, including options through export credit agencies.

In autumn 2021, Uzbekneftegaz issued its first bonds, raising $700 mln.

Kursiv Uzbekistan also reports that in mid-October, the Navoi Mining and Metallurgy Combinat (NMMC) placed bonds worth $1 bln.

Uzbekistan has freed farming enterprises from paying for water delivery and supplying produce for state needs, the Ministry of Justice announced, citing a law signed by President Shavkat Mirziyoyev.

A tax on water resource usage will cover the water delivery costs. This measure reduces bureaucratic burdens on farmers and boosts their incentive to adopt water-saving technologies.

The law shifts the power to approve water intake limits for agricultural enterprises to district and city councils. New state institutions, “Suv Yetkazib Berish Xizmati” (Water Supply Service), are being set up, replacing district irrigation departments and services of the Ministry of Water...

On October 24, the price of a five-gram gold bar surged past 5.8 mln soum, setting a new record after surpassing yesterday’s high, according to the Central Bank of Uzbekistan.

The regulator set prices on October 24 for gold bars at 11.6 million soum for ten grams, 23.2 mln soum for twenty grams, and 58 mln soum for fifty grams.

Gold prices in Uzbekistan keep rising, even as global prices dipped slightly compared to October 23. On October 24, the precious metal traded at $2,735 per ounce.

Kursiv Uzbekistan also reports that between January and August 2024, Uzbekistan’s gold...

Uzbekistan will top the economic growth charts in Central Asia from 2025, with real GDP projected to grow by 5.7% each year, according to analysts at the International Monetary Fund (IMF).

The IMF’s World Economic Outlook report expects the country’s real GDP to grow by 5.6% by the end of 2024. While Kyrgyzstan and Tajikistan may see stronger growth this year, their economies are likely to slow down afterwards. In contrast, Uzbekistan’s growth will see a modest increase and remain stable through 2029.

The IMF forecasts inflation in Uzbekistan to reach 10.4% in 2024, but it should drop to...

The Foundation for Development of Culture and Arts of Uzbekistan has signed a memorandum of understanding with the Department of Culture and Tourism of Abu Dhabi, UAE, the Foundation reported.

The agreement aims to expand cooperation between the parties on preserving cultural heritage and developing museum exchanges. Joint exhibitions will be organized, including an exhibition of Uzbek museum collections in Abu Dhabi.

The memorandum also creates opportunities for research and an exchange of experience between museum staff, experts, and restorers from Uzbekistan and the UAE. Joint training programs, seminars, and conferences are planned.

Kursiv Uzbekistan reports that a sphere-shaped concert...

In the first nine months of 2024, the Statistical Agency reported that the number of foreign tourists who visited Uzbekistan exceeded 5.7 mln, showing an annual growth of 16.8%.

As of October, the most frequent visitors to our country were Tajik tourists – 1.7 mln people, citizens of Kyrgyzstan – 1.6 mln, and Kazakhstan – 1.1 mln.

Among non-CIS countries, the most active travellers to Uzbekistan were residents of Turkey – 84.3 thousand, China – 50.4 thousand, and India – 48.6 thousand.

Kursiv Uzbekistan reports that tourists will be given free SIM...

Uzbek wrestler Alisher Ganiev took the top honour at the U23 World Wrestling Championships, as reported by Uzbekistan’s National Olympic Committee (NOC).

Ganiev emerged victorious in the final against neutral athlete Dinislam Bammatov in the 60kg weight category at the U23 World Wrestling Championships held in Albania.

The Uzbek fighter secured an 8-4 win. Before this event, Uzbekistan’s volleyball team had also clinched gold at the championship in Sri Lanka, as reported by Kursiv Uzbekistan.

In the first nine months of 2024, Uzbekistan’s economy attracted $23.7 bln of investments from abroad. It is expected that the investment rates will be maintained until the end of the year, the press office of the President of Uzbekistan reported.

Between 2017 and 2024, investments are expected to reach $100 bln. Since the beginning of this year, Uzbekistan has launched 120 large-scale production facilities totalling $4.6 bln in value.

Kursiv Uzbekistan reports that Uzbek President Shavkat Mirziyoyev started the construction of nine projects in the Tashkent region.

During an industry forum in Tashkent, Deputy Minister of Mining and Geology Ural Yusupov revealed that 184 estates have already been successfully sold, amounting to a significant 226 bln soums. Moreover, Yusupov emphasised the potential for undiscovered mineral reserves in the country’s mountainous regions, noting that geological exploration in these areas is already 35-40% complete.

Yusupov also outlined the government’s efforts to digitise issuing subsoil licenses by expressing a strong willingness to collaborate and interact with all mineral exploration and production stakeholders. The government aims to enhance transparency and create favourable opportunities for local and foreign investors by conducting permit...