News

Uzbekistan has demonstrated significant progress in actively replenishing its gold reserves, ranking sixth among the other countries (from 2013 to 2023), as reported by RBK, citing data from the World Gold Council.

Over ten years, Uzbekistan successfully increased its gold reserves by 154 tonnes. The leading countries in this endeavor were Russia (1.3 thousand tonnes), China (1.2 thousand tonnes) and Turkey (424 tonnes).

Kazakhstan secured the seventh position, increasing its reserves by 151 tonnes. Conversely, Thailand displayed less activity in purchasing gold, securing the tenth spot with an increase of 92 tonnes.

According to research by the World Gold...

On October 6th, a significant event took place in Kazakhstan with the final referendum on the construction of a nuclear power plant (NPP) at 8:00 PM Tashkent time. According to preliminary data from the Central Election Commission of Kazakhstan, there was an election turnout of 63.87%.

Notably, the highest turnout was in Kyzylorda Oblast at 82.48%, indicating strong puplic engagement in the region, while the lowest was in Almaty at 25.39%, suggesting the need for increased awareness and participation.

At 14:00, the Central Election Commission officially recognised the referendum, with over 51.7% of voters participating, reflecting a significant level...

Uzbekistan and South Korean companies have agreed to collaborate on the production of auto parts and electrical equipment, as reported by Dunyo news agency.

During the meeting at the Uzbek Foreign Ministry on October 4th, there was a focus on emphasising the significance of fostering cooperation between Uzbekistan and Korea, with the participation of Korean Ambassador Won Do Young.

The discussion also involved exploring ways to support foreign companies and enhance their participation in the Uzbek market.

Kursiv Uzbekistan also reports that Uzbekistan and South Korea have agreed to develop a cargo forwarding center for inland ports.

FIFA President Gianni Infantino commended the exceptional organization of the Futsal World Cup in Uzbekistan, expressing his admiration for the event during his attendance at the final match.

Before the final game, he had a productive meeting with Uzbek Prime Minister Abdulla Aripov, Uzbek Football Association (UFA) President Abdulsalom Azizov, and other representatives of our country.

Infantino emphasised that our country loves football and invests in its development.

“All the participating teams, as well as the fans in this beautiful country, have made this tournament truly special, and I enjoyed attending it very much,” Infantino underlined.

The FIFA tournament...

The Agency for State Assets Management (AUGA) has granted permission to four investors from the EU, UAE and Turkey to proceed with the privatisation of three business centers in Tashkent City, as reported by the organisation’s press-office.

The properties being offered for sale are owned by Alokabank, Asakabank and Uzpromstroybank.

KPMG provides consultancy for the deal, while Deloitte is responsible for the appraisal. Investors can expect to receive further details regarding the upcoming stage of privatization.

The binding offers (BO) for the acquisition of assets are being accepted until 25th November.

The AUGA announced the start of business...

The World Bank is considering participating in the construction of a toll road from Tashkent to Andijan. This matter was discussed during a meeting between Uzbek Transport Minister Ilhom Mahkamov and representatives of the financial organization, as reported by the Ministry’s press-office.

The parties discussed methods to attract private investment in the Uzbek transportation industry. They also talked about the project to construct a road from Tashkent to Andijan and the potential involvement of the World Bank.

Shomik Raj Mehndiratta, Head of Transport Policy for Europe and Central Asia and Wei Winnie Wang, Head of Infrastructure Programme and Lead...

According to the Uzbek Ministry of Ecology, Uzbekistan has prepared documents to nominate the Zaamin Mountains for the UNESCO World Natural Heritage List.

The Zaamin Mountains may become the first site in Uzbekistan to receive such a status. Previously, the list only included transboundary sites such as the Western Tien Shan and the Turan Deserts.

Zaamin National Park is situated in Jizzak Oblast and covers an area of 21 thousand hectares, with half of the area covered by forests. The park is home to rare juniper species and red-listed animals, including the Turkestan lynx, the Tien Shan brown...

The World Conference on Creative Economy (WCCE) began in Tashkent on Wednesday, 2 October and will continue until 4 October.

Among the forum organisers are the Foundation for the Development of Culture and Arts of Uzbekistan, the Indonesian authorities and the United Nations Conference on Trade and Development (UNCTAD).

The event’s partners include the British Council, the Asian Development Bank Institute and Westminster International University in Tashkent.

More than 2,000 international representatives from the creative industry will participate in WCCE. The conference’s central theme will be ‘Inclusive Creativity: Changing Reality’.

The organisers emphasised that the conference will be interactive, allowing...

During the Fintech & Banking 2024 forum on 3 October, Loialte and the FinTech Association of Uzbekistan joined forces by signing a memorandum of cooperation. The aim is to foster cybersecurity expertise in the banking and fintech industries of the republic.

‘We are committed to achieving both short-term results and building long-term partnerships. In this collaboration, we are prepared to engage experienced professionals and provide training for new talents, including young individuals,’ stated Bachana Shelia, Managing Partner of Loialte.

Nargis Dustmatova, Chairperson of the FinTech Association of Uzbekistan, stated that there will be a focus on training cybersecurity experts...

Naomi Campbell, the renowned British supermodel, contributed significantly to the World Conference on the Creative Economy (WCCE) by actively engaging in a panel discussion on sustainability in the global fashion industry.

During the program, Campbell engaged in a meaningful discussion with the French-Lebanese publisher and founder of Canvas magazine about the impact of fashion on the creative economy, focusing on the concept of Threads of Innovation.

In late September, Campbell was prohibited from acting as a trustee for charities in England and Wales due to financial irregularities and mismanagement within her organisation.

The supermodel’s foundation illegally used the UNICEF...

The Fintech & Banking 2024 International Forum, coorganised by the FinTech Association of Uzbekistan and Axioma School, is scheduled for 3-4 October, as reported by Kursiv Uzbekistan.

The event, supported by the Central Bank of Uzbekistan and key players in the financial market, will bring together over 300 participants from ten countries to discuss the latest trends and challenges in financial technology.

At the event, global specialists will explore topics including sustainable fintech, artificial intelligence and e-commerce.

Kursiv Uzbekistan reports that Tashkent is hosting a conference on the creative economy.

The Eurasian Economic Commission (EEC) and Uzbekistan have approved a joint action plan until 2026, as reported by the organization’s press service.

The document was signed by the Chairman of the EEC Collegium, Bakytzhan Sagintayev, and the Prime Minister of Uzbekistan, Abdulla Aripov.

The parties intend to cooperate in more than ten areas, including customs regulation, finance and energy.

Implementing this plan is expected to enhance trade and economic connections between the EAEU countries and Uzbekistan.

Kursiv Uzbekistan reports that over 1,500 companies have been established in Uzbekistan, and capital has come from EAEU countries.

The non-profit organization Better Cotton has begun monitoring cotton harvesting and processing standards at Uzbek enterprises, as reported by the Uztekstilprom Association.

The organisation’s experts will analyse the outcomes of cotton industry reforms and working conditions in cotton-textile clusters and farms.

Better Cotton will also review contracts with seasonal workers, monitor child labour and promote gender equality in the cotton industry.

In November, the organisation plans to sign a roadmap for developing strategic cooperation with enterprises in Uzbekistan.

Cotton producers are expected to meet the Better Cotton 3.0 sustainability standard and will be assessed accordingly.

Compliance with this standard...

Mosaicvertising, a creative project to remove the advertising banners from Tashkent’s mosaics, has been honored with two international awards.

The Tashkent project was selected from 119 participants as the winner at the AdBlackSea International Festival of Creativity in Batumi, Georgia, held in September. It received the Grand Prix and a Gold Award in the Media, Use of Print and Outdoor category.

The project received high recognition at the international advertising festival Jolbors 2024 in Almaty, securing three gold and three bronze awards in categories such as PR campaigns, ESG projects and reputational communications.

The Mosaics of Tashkent project was...

According to Uzbek Prime Minister Abdulla Aripov, Uzbekistan’s foreign trade turnover with the countries of the Eurasian Economic Union (EAEU) increased by 12% to $11.4 billion in January-August 2024.

Aripov announced this data at the Eurasian Intergovernmental Council meeting in Yerevan.

He also mentioned that the volume of cargo traffic and frequency of flights between Uzbekistan and the EAEU have significantly increased in recent years.

Uzbekistan is also in the process of joining the Eurasian Development Bank (EDB), indicating a deepening of economic cooperation.

Kursiv Uzbekistan reports that Uzbekistan favors an agreement with the EAEU to expedite the...

President of Uzbekistan, Shavkat Mirziyoyev, met with a delegation from the People’s Republic of China. They discussed the implementation of joint projects, as reported by the President’s press office.

The Chinese delegation was led by Chen Min’er, Secretary of the Party Committee of Tianjin.

Mirziyoyev and Min’er discussed implementing cooperation projects between Uzbekistan and Tianjin companies. They considered areas of cooperation in agriculture, energy, construction, industry, trade and pharmaceuticals.

The participants of the discussions emphasised the significance of implementing educational, cultural, and innovative exchange programs.

Kursiv Uzbekistan reports that container trains from China started running to the Tashkent...

The volume of trade between Uzbekistan and India has doubled over the past five years, according to the Uzbek government’s press office.

The figure was announced at a joint business forum held in Tashkent on 27 September. It was attended by 100 heads of large enterprises and representatives of agencies.

Uzbekistan’s Deputy Prime Minister Zhamshid Khodzhayev stated that the trade between the two countries amounted to $800 million last year, representing a 30% increase from the previous year.

Kursiv Uzbekistan reports that India and Uzbekistan signed a bilateral agreement on investment protection.

The leader of the Milliy Tiklanish party, Alisher Kadyrov, stated during an election debate on MY5 TV channel that women should have the right to serve in the military.

‘There are no concepts of ‘man’ and ‘woman’ in matters of defense of the Motherland. This does not contradict national values,’ Kadyrov said.

Earlier, the party leader suggested that all men who do not wish to pursue higher education should be enlisted in the military. He justified the idea based on the value of military-patriotic training for young people.

Kursiv Uzbekistan reports that Kadyrov advised Russia to “mind its...

Uzbekistan’s polyethylene exports increased by 6.7% to 174,000 tonnes from January to August 2024, as reported by the Statistics Agency of Uzbekistan.

The total value of exports amounted to $141 million.

The main purchaser of polyethylene was Turkey, which represented 46% of the supplies. Latvia, Russia, China and Kazakhstan have also purchased significant volumes (more than 10,000 tonnes) of Uzbek polyethylene.

In the first eight months of this year, Uzbekistan exported polyethylene to 15 countries.

Kursiv Uzbekistan reports that Uzbekistan has increased polyethylene production by 7.3%.

In the Republic of Sakha (Yakutia), migrants have been banned from working in reindeer husbandry, fishing, construction, taxi driving, medicine and science. The complete list of professions closed to foreign specialists is given in the decree of the head of the republic Aysen Nikolaev.

Under the ban there are 34 professional directions. Now, migrants cannot work as couriers and postmen, cut wood, or work in the production of food, drinks, furniture, leather goods, or real estate services.

Previously, the Sakha authorities introduced similar bans modelled for other Russian regions. For example, in April, migrants were banned from passenger...

The Agency for the Development of Atomic Energy in Uzbekistan will collaborate with Rosatom to implement advanced nuclear technologies, as reported by RIA Novosti.

During the Russian Energy Week in Moscow, the Director of Uzatom, Azim Akhmedhajayev, met with his Russian counterpart, Aleksei Likhachev. They discussed joint initiatives in the nuclear industry, including nuclear safety, joint infrastructure, and participation in international initiatives to reduce greenhouse gas emissions.

Uzbekistan and Rosatom agreed to build a small nuclear power plant in the Jizak region. In early September, the parties signed a protocol to commence construction work.

Kursiv Uzbekistan also reports...

The Asian Development Bank (ADB) and the International Fund for Financing Education (IFFEd) have agreed to allocate $500 million for education projects in the Asia-Pacific region (APR), as reported by the financial institution’s press service.

Preferential financing will be available to countries with lower-middle income levels, such as Uzbekistan, Pakistan, and Mongolia, among others in the region, to support all levels of education.

The Fund will guarantee the ADB sovereign loans for $125 million and a grant of $50 million. This will expand the bank’s lending capacity and reduce borrowing costs to support education in developing countries.

The concessional...

The Chatkal and Ugam rivers in Uzbekistan are blocked by construction projects involving hydroelectric power plants, as dams block both rivers.

During a recent inspection that finished on 25th September, a UNESCO and International Union for Conservation of Nature (IUCN) mission discovered that the building of three 5MW hydropower plants and artificial canals is causing severe harm to the ecosystems of the rivers within the Western Tien Shan World Natural Heritage Site.

Experts have documented that bulldozers are destroying the Ugam River bed, and excavators are blocking it and enclosing it in a concrete channel. These actions threaten the...

The Russian Foreign Ministry has made a diplomatic representation to the Uzbek ambassador to Russia after a Russian-speaking child at Tashkent school was bitten by his teacher, the TASS news agency reported.

‘A representation has been made to the Uzbek ambassador,’ an unnamed diplomatic source informed the TASS.

“Representation is a standard diplomatic practice designed to uphold professional etiquette.”.

Earlier, a video of a teacher assaulting a student circulated on Uznet. The incident reportedly occurred at school N 188 after the student requested a lesson in Russian.

Several politicians commented on the situation.

According to Kursiv Uzbekistan, Russian Foreign...