News

Beepul, a fintech service operated by JSC «Beelab,» closed the first quarter of 2025 with record-breaking revenue growth. In the first three months of the year, its revenue more than tripled compared to the same period in 2024. At the same time, the number of active users has steadily increased, reflecting strong demand driven by product enhancements and strategic initiatives to broaden the customer base.

Key growth drivers include an effective user acquisition strategy. New users benefit from the Welcome Bonus campaign, which allows commission-free transfers from bank cards of up to UZS 20 million per month. Meanwhile, existing Beeline...

Between January and March 2025, 13,500 Uzbek citizens visited Thailand, according to data from the State Statistics Committee. Compared to the same period in 2024, the figure has more than doubled — increasing by 2.2 times.

The majority of visitors travelled for tourism purposes. In the first quarter alone, 11,800 Uzbek tourists visited Thailand.

In addition, over 1,500 Uzbek nationals travelled to the country to visit relatives. A further 56 citizens made the trip for official or business-related purposes.

A round-trip flight from Tashkent to Bangkok, Thailand’s popular resort capital, costs approximately UZS 4.2 mln.

Kursiv Uzbekistan previously reported

Tashkent has included 300 sites in a large-scale urban renovation programme, as outlined in the capital’s General Plan through to 2045. Officials presented the details during a briefing with the President of Uzbekistan, Shavkat Mirziyoyev.

In the first phase, covering 2025–2026, the city will implement 65 projects aimed at improving living conditions, modernising neighbourhoods, and reducing disparities between older and newer districts. The plan includes preserving existing trees and expanding green areas.

The General Plan sets a target to triple Tashkent’s green zones, increasing them to 25,000 hectares. By 2030, the city also plans to reconstruct 100 kilometres of...

President Shavkat Mirziyoyev has instructed his government to accelerate negotiations with the remaining nine WTO member states as Uzbekistan pushes to complete its accession process by the end of this year. He also called for two additional meetings of the WTO working group to be held within that timeframe.

To align with WTO requirements, Uzbekistan plans to adopt around 15 new pieces of legislation, including revised laws on product standards and market safeguards.

So far, the government has passed more than 50 legal and regulatory documents, including 13 laws. Reforms have improved frameworks in customs procedures, foreign trade, and...

The International Advisory Committee (IAC) has outlined six key areas for reforming Uzbekistan’s pension system, including the creation of private pension funds. Uzbekistan’s Agency for Strategic Reforms announced the recommendations this week.

The council advised the government to strengthen the financial sustainability of the pension system. Private pension funds, it said, should operate on a voluntary contribution basis.

IAC also recommended the full digitalisation of all pension-related services and the introduction of an insurance-based work history system.

In addition to pension reform, the council issued guidance across five fiscal policy areas aimed at expanding the tax base and improving...

GSMA M360 Eurasia will be held for the first time in Tashkent on May 21-22. The event will take place at the InterContinental Tashkent in partnership with the Ministry of Digital Technologies of the Republic of Uzbekistan and Host Sponsor Beeline Uzbekistan, part of VEON Group.

The forum brings together government officials, industry executives, and technology experts to discuss the future of digital connectivity in Eurasia.

Uzbekistan’s Minister of Digital Technologies, Sherzod Shermatov, will open the event. He will be joined by Kaan Terzioglu, CEO of VEON, and Andrey Pyatakhin, CEO of Beeline Uzbekistan. They will highlight the importance...

The rapid expansion of solar and wind power stations in Uzbekistan is being held back by limited capacity to connect them to the national grid. Carol Ponte, Regional Director at Voltalia, made the remark during the Uzbekistan Energy Week – UEW 2025 forum.

«You can build as many stations as you like, but if there’s nowhere to connect them, they won’t operate,» she explained.

Deputy Minister of Energy Umid Mamadaminov confirmed the infrastructure challenges. In addition to technical limitations, he pointed to financial risks for investors when network overload forces the shutdown of part of...

Uzbekistan will begin the first industrial-scale generation of green hydrogen in Central Asia at the end of May, with operations starting in Chirchiq. This milestone positions the country as a regional pioneer in advancing towards a low-carbon economy.

The project operates under a public-private partnership model. ACWA Power holds an 80% stake in the joint venture ACWA Power UKS Green H2 LLC, while the remaining 20% belongs to the state-owned company O’zkimyosanoat.

«This is a significant opportunity for us. Uzbekistan is the first in the region to launch such a project. It is a...

Uzbekistan’s Minister of Energy, Jurabek Mirzamakhmudov, has identified infrastructure modernisation and the digitalisation of energy system management as the sector’s main challenges. He made the remarks during the Uzbekistan Energy Week – UEW 2025 forum.

He emphasised the importance of implementing SCADA systems — automated platforms that enable real-time management of power grids.

According to the minister, such solutions are essential for effectively monitoring generation volumes and integrating new solar and wind power plants.

Earlier, Kursiv Uzbekistan reported that the country plans to launch 1,185 micro hydropower plants with a combined capacity of 65 MW by the end of the year.

As part of Uzbekistan Energy Week – UEW 2025, Uzbekistan will sign an industrial cooperation roadmap with Russia’s Perm Krai, the Minister of Energy of Uzbekistan, Jurabek Mirzamakhmudov reports.

The agreement outlines plans to localise production and launch joint energy projects.

The signing ceremony will take place in the presence of Perm Krai Governor Dmitry Makhonin, who has travelled to Tashkent specifically to attend the forum.

«We are grateful to the governor of Perm Krai for his ongoing support and personal engagement,» the minister noted.

Earlier, Kursiv Uzbekistan reported that Russia plans...

The People’s Democratic Party of Uzbekistan has officially declared it will now function as an opposition party, distancing itself from the newly formed Progressive Bloc in Parliament.

The bloc, created by the Uzbekistan Liberal Democratic Party and the Democratic Party Milliy Tiklanish, currently holds a parliamentary majority. However, the PDPU announced it would not support the bloc’s political agenda.

The People’s Democratic Party cited several key disagreements with the current course supported by the majority:

The Tashkent City Court of Appeals has ruled in favor of International Digital University (IDU), reinstating the private university’s educational license, according to former MP Rasul Kusherbayev.

The judge overturned the initial ruling and upheld the university’s right to continue its educational activities.

IDU lost its license in October 2024 following a decision by the Tashkent Interdistrict Economic Court, which had ordered the revocation due to alleged violations of licensing conditions and educational standards.

Founded in 2021, IDU specialises in training professionals in information technology, artificial intelligence and cybersecurity. It also offers students the opportunity to earn...

As of May 1, 2025, the number of active foreign-invested companies in Uzbekistan reached 11,900, according to data from the National Statistics Committee. That figure has grown by 80% since 2021.

China leads the way, with 3,200 companies established by Chinese investors. Russia ranks second with 2,100 companies, followed by Turkey with 1,400.

Meanwhile, the number of joint ventures has decreased by 30%, currently totalling 4,000. Russian investors maintain a strong lead in this category, with 905 active Russian-Uzbek joint ventures.

China ranks second in joint business activity with 605 companies, and Turkey follows with 486.

Kursiv Uzbekistan also...

The Hamburg Regional Court has forbidden referring to Russian businessman Alisher Usmanov as the owner of the superyacht Dilbar, reported by Kommersant.

Several media outlets, including Luxembourg-based media group Mediahuis, previously reported this ownership. The court has imposed a €250,000 fine for violating the ruling. If payment cannot be enforced, offenders may face up to six months in prison.

Usmanov’s legal representative, lawyer Joachim Steinhöfel, stated that the European Union imposed sanctions against the businessman based on claims now banned by the court. At the end of April, the newspaper Münchner Merkur removed 15 articles about Usmanov. These publications reportedly served...

Uzbekistan has drafted a law requiring bloggers with more than 10,000 followers to pay taxes. The proposal is now open for public discussion and aims to regulate interactions between users, bloggers, influencers and online platform owners.

The consultation period will remain open until May 27.

For the first time, the legislation introduces clear definitions:

The draft law requires bloggers and...

China will reduce tariffs on imports from the United States by 24 percentage points, bringing the rate down to 10%, according to TASS.

In addition, Beijing will revoke State Council Tariff Commission decrees No. 5 and No. 6, which had previously raised additional duties to 84% and 125%, respectively.

Vice Premier of the State Council He Lifeng and US Treasury Secretary Scott Bessent reached the agreement during recent talks.

The tariff cuts will take effect on May 14 and remain in place for 90 days, according to a joint statement from China and the United States.

China has also...

Iran and Uzbekistan have agreed to explore ways to raise their bilateral trade turnover to $2 bn. The announcement followed a meeting between Uzbek Prime Minister Abdulla Aripov and Mohammad-Reza Aref in Tehran.

Both sides stressed the need to strengthen cooperation in transport and logistics, highlighting the sector’s strategic role in facilitating trade.

Aripov and Aref also emphasised the importance of expanding industrial collaboration and enhancing ties in science, education, technology, innovation and tourism.

According to Aref, Uzbekistan and the Islamic Republic can complement each other within the regional economy.

Aripov described Iran as a close friend and...

Kyrgyzstan has lifted its temporary ban on cement imports in a move to stabilise the construction materials market, the Cabinet of Ministers announced.

The government believes that lifting the restrictions will support the construction sector and slow down the rise in prices. It also expects that cement supplies from neighbouring countries will help maintain healthy competition and prevent shortages.

The ban on imports of cement and plasterboard came into effect on April 17. At the time, the government justified the restrictions as a measure to support local producers and address cases of dumping by foreign suppliers.

In...

On May 12, the United States and China will announce a trade agreement. Reuters sources report that the breakthrough on de-escalating the trade war came during a meeting between American and Chinese delegations in Geneva.

From the US side, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer took part in the talks. The Chinese delegation included Vice Premier He Lifeng and Deputy Minister of Commerce Li Chenggang.

Following the meeting, both sides confirmed significant progress but declined to reveal the terms of the deal until an official statement is released.

What is known so far is that the...

In 1Q25, the volume of education services in Uzbekistan reached UZS 8.1 trillion, according to data from the State Statistics Committee. This marks a 7.6% increase compared to the same period last year.

Education accounted for 3.8% of the total services market. Higher professional education remained the dominant segment, contributing 45.8% of all educational services provided in the quarter.

President Donald Trump has announced plans to reduce the cost of prescription and other pharmaceutical drugs in the United States by 30–80%. The statement was made via his social media platform, Truth Social.

Trump said he would sign what he described as one of the most important executive orders on May 13. He claimed the move would save the country trillions of dollars.

According to Trump, drug prices in the US are significantly higher than in other countries, with some medications costing five to ten times more.

«For years, pharmaceutical companies have claimed...

The State Statistics Committee has calculated that from January to March 2025, the volume of education services in Uzbekistan reached UZS 8.1 trillion.

Most of the spending went towards higher education. Universities accounted for 45.8% of the total volume.

Overall, the education sector made up 3.8% of all market-based services provided in the country.

In 1Q25, education-related expenditures rose by 7.6% compared to the same period in 2024.

By May 8, residents of Tashkent submitted 22,700 appeals to local authorities, according to data from the Xalq Nazorati (People’s Control) platform.

Housing and communal services accounted for 31.2% of all requests. Another 27.3% of submissions focused on the condition of roads and pavements. Issues related to public infrastructure made up 9%, while 3.8% of complaints addressed environmental concerns.

Uchtepa district ranked first for the highest number of resolved appeals. Almazar took second place, followed by Yangihayot in third.

Sergeli district ranked lowest in terms of responsiveness.

Ukraine has imposed sanctions on three Uzbek companies and one Uzbek citizen, following a decree signed by President Volodymyr Zelensky.

The sanctions came into effect on May 9 and will remain in place for ten years. They target the joint venture Mercury Renaissance and its subsidiary, Fergana Chemical Plant.

Mercury Renaissance, registered in Tashkent, has operated since 2016 in the field of construction equipment leasing and rental. Its founders are Rustam Muminov and Shakhriyor Tadjiev.

Ukraine has also imposed individual sanctions on Muminov, stating in the presidential decree that appropriate measures will be applied against him.

The sanctions list includes...