News

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.

In 2025, Tashkent will host the Mobile 360 Eurasia international conference, marking its debut in Central Asia.

The event will serve as a vital platform for discussions on digital technologies, innovation, and strategic regional development.

Uzbekistan’s Minister of Digital Technologies, Sherzod Shermatov, highlighted the significance of hosting the conference, stating that it will enhance the country’s international image, showcase its potential for IT sector growth, and attract investments.

From November 16 to 20, Uzbekistan will also participate in Mobile 360 Eurasia in Qatar. During the forum, the Uzbek delegation will present its digital transformation strategy and hold meetings with leading...

Uzbekistan will exempt entrepreneurs engaged in silkworm cocoon farming at home from income tax, according to the Ministry of Justice.

Income from this activity will remain tax-free until 2026. Additionally, social tax exemptions apply to payments for home-based workers.

Land with mulberry plantations will benefit from a reduced coefficient of 0.1 when calculating land tax.

Kaspi.kz will not take part in the privatisation of the Uzbek payment system Humo, according to a statement from the press service of the Kazakh tech company.

Kaspi confirmed it will continue to support Uzbekistan’s digital transformation.

The privatisation of Humo began in July 2024. In August, Kaspi.kz had expressed interest in joining the process.

In September, the Agency for State Asset Management of Uzbekistan announced that eight companies had submitted bids to purchase Humo. Six of them progressed to the next stage of privatisation.

Kaspi withdrew from the sale process on November 15.

In Uzbekistan, companies with an AAA rating will no longer undergo tax audits, unless linked to criminal cases. The President of Uzbekistan, Shavkat Mirziyoyev, signed the decree.

VAT refunds for companies in this category will now be processed within one day, without additional checks.

For all businesses with high stability ratings, refunds for overpaid taxes (excluding VAT) will be issued within three days.

Saida Mirziyoyeva, Assistant to the President of Uzbekistan, held an open dialogue with students across the country.

«Listening to the youth is incredibly important, as they will shape our shared future,» Mirziyoyeva stated.

In late October, Mirziyoyeva met with Sabina Makhl, the UN Resident Coordinator in Uzbekistan. They discussed ways to strengthen the country’s relationship with the organisation.

On November 14 in Azerbaijan’s Baku, during the 29th session of the UN Climate Change Conference of the Parties (COP29), Uzbekistan and the Global Green Growth Institute (GGGI) signed a Framework Agreement to support the transition to a green economy. The document outlines the allocation of grants amounting to $6.5 mln.

The funds will be directed towards developing sustainable agriculture and forestry, supporting green financing, conducting strategic environmental assessments, and establishing carbon markets.

In the upcoming winter season, Uzbekistan plans to supply 21 bn cubic meters of gas to its population, as reported during a presentation attended by President Shavkat Mirziyoyev.

During the meeting, an action plan was introduced to prepare for a potential cold snap, which includes specific measures tailored to different districts and months. A reserve gas stock has been established, and a targeted distribution system has been implemented for major facilities, including thermal power plants, chemical factories, and metallurgical enterprises.

The meeting also focused on strategies to monitor and reduce gas losses and conserve resources in...

For the first ten months of the current year, approximately 2 tonnes of gold were sold on Uzbekistan’s commodity exchange, doubling the amount sold in the same period last year. This information was reported by UzRTSB’s press office to Kursiv Uzbekistan.

In 2024, there were 564 transactions involving gold worth 1.9 trillion soums. In comparison, during the corresponding period last year, about 962 kg of gold was sold through 372 deals, which amounted to 697.5 bn soums.

Regarding silver, from January to October of this year, 366 kg were sold at the exchange, with 23 contracts totalling 4.1 bn soums...

From January to October 2024, approximately 6.5 million foreign tourists visited Uzbekistan. This represents an increase of 951,300 visitors, or 17.2%, compared to last year.

The largest number of visitors came from neighbouring countries, with 1.88 million from Tajikistan, 1.87 million from Kyrgyzstan, and 1.27 million from Kazakhstan. Tourists also arrived from Russia, Turkmenistan, Turkey, and China.

Kursiv Uzbekistan also reports that Uzbek tourists have started to spend less in Kazakhstan.

Next year, 50 investment projects worth $282 mln are set to be implemented in Termez, according to Ulugbek Kasymov, hokim of the Surkhandarya Region. These projects will be initiated with the support of both foreign and domestic investors, and they are expected to create over 1,800 jobs.

Kasymov highlighted that introducing the Export in Three Steps system has provided additional support for the export potential of the city and the region. This system significantly simplifies and expedites customs procedures.

On November 14, two new facilities were opened in Termez: the Surxon Qurilish building materials factory and...