News

Uzbekistan has finalised the privatisation of the Humo payment system, part of the National Interbank Processing Center, for $65 mn. This announcement was reported by Uzbekistan’s State Assets Management Agency (UzSAMA). The sale follows an open process, where six applicants were invited to submit Binding Offers (BO).

Three offers were received, with Paynet submitting the highest bid of $65 mn. This bid aligns with the price range set by the consultant and exceeds the valuation by independent appraiser KPMG.

Paynet, one of Uzbekistan’s largest payment operators, has agreed to ensure the stability of the Humo payment system and protect the...

From January to November 2024, Uzbekistan’s agricultural producers exported 32,200 tonnes of cherries worth $70.3 mn, according to the Statistics Agency of Uzbekistan.

In volume terms, exports decreased by 28% compared to the same period in 2023. However, in value terms, they increased by 33%, driven by a rise in the average price from $1,200 to $2,200 per tonne.

Russia was the primary importer of Uzbek cherries during this period, accounting for nearly 79% of shipments. Kazakhstan imported 3,500 tonnes, and Kyrgyzstan received 2,800 tonnes.

Uzbek cherries were exported to markets in Belarus, the UAE, China, South Korea, Malaysia, and other countries.

Uzbekistan aims to increase its annual exports of electrical equipment to $3 bn. The initiative was presented to President Shavkat Mirziyoyev during a meeting on the industry’s development.

Electrical equipment production is projected to reach UZS 50 trln in 2025. For comparison, last year, enterprises in the country produced electrical goods worth UZS 31 trln.

Exports amounted to $1.3 bn, while investment in the sector totalled $516 mn. Entrepreneurs will also have the opportunity to construct buildings in technology parks and sell them to enterprises in the electrical and related industries.

The number of advertising companies in Uzbekistan reached 1,500 as of January 1, according to the State Statistics Agency.

Tashkent has the highest number of advertising agencies in the region hosting over 1,000 companies.

The Samarkand region ranks second with 91 advertising companies, followed by the Fergana region with 61.

The lowest numbers are recorded in the Syrdarya region, with 9 companies, and Karakalpakstan, with 20.

Uzbekistan’s spending on advertising services amounted to approximately $481 mn in 2024. The country ranked fourth among Central Asian and Eastern European nations in terms of advertising expenditure.

From January to November 2024, Uzbekistan exported 205,500 tonnes of grapes, a 2.2-fold increase compared to the same period in 2023, according to the State Statistics Agency.

In monetary terms, grape exports exceeded $174.7 mn. Russia accounted for the majority of shipments, receiving 164,200 tonnes. Kazakhstan and Kyrgyzstan followed with 19,400 tonnes and 14,500 tonnes, respectively.

Belarus (6,600 tonnes) and Ukraine (334 tonnes) rounded out the top five importers.

It is worth noting that as of early December last year, Uzbekistan’s exports of fruits and vegetables totalled $1.4 bn, despite a 30% year-on-year decline.

Greenland’s Prime Minister, Múte Bourup Egede, firmly stated that the island will not be annexed by the United States, Politico reports.

«We do not want to be Danes. We do not want to be Americans. We want to be Greenlanders,» Egede told journalists on Friday after meeting with leaders of the Danish Kingdom in Copenhagen.

Earlier, former US President Donald Trump had suggested that he would not rule out the use of force to annex Greenland, an autonomous territory of Denmark with a population of 57,000.

When asked whether he had spoken to Trump, Egede replied, «No, but we are open...

Uzbekistan’s enterprises produced electrical equipment worth UZS 31 trln in 2024, as reported to President Shavkat Mirziyoyev during a meeting on the development of the sector.

Last year the country exported electrical equipment totalling $1.3 bn, while investments in the industry reached $516 mn.

According to the plans of the UzElectroIndustry Association, 290 projects worth $4 bn are set to be launched this year. Investments in electrical equipment production are expected to total $600 mn. Overall, $75 bn in investment projects is planned, with $28 bn allocated to localisation programmes.

Entrepreneurs are now permitted to construct buildings in technoparks and sell...

President of Uzbekistan Shavkat Mirziyoyev has instructed officials to increase the export of transport services to $3 bn by 2025, according to the presidential press service.

The initiative was announced during a meeting focused on developing the country’s transport and logistics sector.

Uzbek freight forwarders will be exempted from paying VAT on international transportation services as part of the plans. This measure aims to raise the share of local companies in the sector to 45–50%.

The President also stressed the need to double the volume of international freight transportation.

To boost foreign cargo traffic, the government will introduce an...

British actor Jude Law will portray Russian President Vladimir Putin in The Kremlin Wizard, a film directed by French filmmaker Olivier Assayas, according to Deadline.

Jude Law is set to play a minor role in Assayas’ new project, which depicts Putin in the early stages of his political career. In an interview with Deadline, Law described the challenge of playing this role as akin to “climbing Mount Everest,” but he feels prepared to take it on.

Information regarding Law’s involvement in the film emerged in May 2024; however, specific details about his character were not disclosed at that time.

At the end of 2024, the Fergana region has attracted $1.8 bn in foreign direct investments and loans, according to the press service of the regional Khokimiyat.

Deputy Regional Governor Nuriddin Mamajonov announced that the region launched 1,100 investment projects last year and created more than 36,000 jobs. Representatives from 29 countries are investing in the region’s economy, and the total number of firms with foreign capital has surpassed 800.

The region’s foreign investors’ portfolio is estimated to be around $6 bn.

In 2025, regional authorities plan to improve their work efficiency with investors. They anticipate initiating projects worth...

Photo: Wildberries

The court denied Vladislav Bakalchuk‘s claims against his former wife and upheld Tatiana Kim‘s right to 99% ownership of Wildberries, as reported by RIA Novosti, citing a decision from the Arbitration Court of the Moscow Region.

Bakalchuk was recognised as the owner of only 1% of Wildberries’ authorised capital, the legal entity of the Wildberries marketplace. The court determined that Bakalchuk’s interests were not impacted by the merger of the marketplace with the outdoor advertising operator Russ Outdoor.

It is worth noting that at the end of 2024, Bakalchuk lost another lawsuit concerning transferring Wildberries’ assets.

The conflict...

The sale of AI-80 petrol in Uzbekistan is set to be restricted until the end of 2025, as outlined in a decree by President Shavkat Mirziyoyev regarding implementing the Uzbekistan-2030 Strategy.

The decree also proposes limiting the use and sale of all fuels below Euro-4 standards. Previously, it was planned to phase out non-ecological fuels gradually until 2028.

The decree suggests banning the use of fuel oil in boiler houses and thermal power plants until the end of 2025. However, the use of this type of fuel will be permitted in emergencies.

A separate section of the decree...

At the end of 2024, cement sales at the Uzbek Republican Commodity and Raw Materials Exchange (UZRTSB) rose by 58% to reach 5.9 mln tonnes, according to the trading platform’s report

The highest sales volumes occurred in May and August, where 670,000 and 627,000 tonnes of cement were sold, respectively. Conversely, the lowest sales were recorded in December, with nearly 278,000 tonnes sold. The average annual price for cement was 534.7 thousand soums per tonne.

The largest cement producer last year was Ahangarancement, which accounted for 18% of total sales. Kyzylkumcement and Bekabadcement followed in second and third place...

According to TASS, the Russian group Holding Aqua increased its mineral water supplies to Uzbekistan by 27% in 2024.

The company produces several types of mineral waters, including Essentuki and Narzan, alongside other soft drinks.

Holding Aqua exported over 750 mln liters of water in 2024, marking an annual growth rate of 35%. The company also expanded its product shipments to Belarus and Azerbaijan, increasing by 130% and 22%, respectively.

The most popular brands among customers remain Essentuki and Narzan, although interest in Arkhyz and Gorji is also rising.

According to the Statistical Agency of Uzbekistan, the country...

President of Uzbekistan Shavkat Mirziyoyev has completed his short-term labour leave as of January 10, as announced by Sherzod Asadov, the press secretary of the head of state.

Mirziyoyev began his leave on January 6.

Kursiv Uzbekistan also reports that the President has signed a law regarding the state budget for the upcoming year.

Uzbekistan is set to implement a system to evaluate civil servants for their likelihood of engaging in bribery, according to Akmal Burkhanov, director of the Anti-Corruption Agency.

This initiative assesses the potential for corruption among executives and candidates for managerial positions. It will help identify individuals who have entered the civil service with the intent of illicit enrichment, Burkhanov explained.

Approximately 40% of Uzbeks believe giving valuable gifts to officials is corrupt, while 74% of citizens are willing to report corrupt activities.

Additionally, Kursiv Uzbekistan reported that the head of the anti-corruption department of the RES branch...

Rumours are circulating on social media suggesting that users may have money automatically deducted from their bank accounts when answering calls from unknown numbers. The Central Bank has denied these claims and emphasised that mobile banking applications and payment systems have security measures in place.

To link a bank card to an app, a user must enter the phone number associated with the card, input a one-time SMS code, and undergo biometric verification. The card cannot be connected if the phone numbers do not match. Additionally, new users are restricted from using the card in the application for more...

According to the zoo’s press service, new animals have arrived at the Tashkent Zoo, including three alpacas and one llama.

The zoo has welcomed five cranes of three different species. A particularly notable addition is the arrival of a mate for the female Japanese crane, which had been alone for quite some time.

Kursiv Uzbekistan also reports that a giraffe at the Tashkent Zoo has passed away.

By 2030, Tashkent Region is set to be fully supplied with drinking water. The regional khokimiyat has announced that 287.4 bn soums will be allocated for this purpose.

The project will involve the installation of 554.5 kilometres of water supply networks and the construction of 76 infrastructure facilities.

As of the beginning of this year, 79.9% of the region’s residents had access to drinking water. The lowest access rates are in the Kuyichirchik and Urtachirchik districts, with only 54.2% and 55.1% of residents receiving adequate water supply.

Kursiv Uzbekistan also reports that two water reservoirs and treatment plants...

Banks are currently buying the dollar for between 12,880 and 12,910 soums and selling it for between 12,945 and 13,025 soums.

Kursiv Uzbekistan also provides insights on the expected dollar rate in Uzbekistan for 2025.

Uzbekistan plans to export $1.2 bn worth of construction materials by 2025, as announced by Zhamshid Shermetov, spokesman for the Uzpromstroymaterialy association.

This year, the projected production volume of construction materials in the country is expected to reach 50 trillion soums. The association aims to produce the following quantities:

– 18 mln tonnes of cement

– 48.2 mln square meters of glass

– 52 mln square meters of ceramic tiles

– 95 mln square meters of plasterboard and other products

The industry will undertake 204 investment projects valued at $100 mln, creating jobs for 14,200 Uzbeks.

To enhance exports, Uzbek...

The American edition of The New York Times (NYT) has listed Bukhara as one of the 52 cities to visit in 2025, according to the Committee on Tourism of Uzbekistan.

The NYT highlights the inaugural Bukhara Biennale, which will take place from September 5 to November 20.

This event will showcase works by renowned artists and sculptors, including the British artist Anthony Gormley.

Gormley, born in London in 1950, has held over a hundred solo exhibitions. He is best known for his sculptures such as the Angel of the North, Quantum Cloud, and the installation Another Place.

The...

The Embassy of Uzbekistan in the UK has conducted discussions with recruitment companies Pro-Force Limited and HOPS Labour Solutions Ltd regarding the employment of Uzbek citizens in the UK agricultural sector, as reported by the Dunyo news agency

The initiative aims to recruit Uzbeks to work in agricultural enterprises across the UK. Following these discussions, it was agreed that representatives from Pro-Force Limited will visit Tashkent in February to facilitate the phased employment of 3,000 Uzbek workers.

HOPS Labour Solutions Ltd, in collaboration with the Migration Agency, will launch online testing for migrants from Uzbekistan.

Kursiv Uzbekistan also...

The number of hydroelectric power plants (HPPs) in Uzbekistan has increased from 36 to 77 over the past seven years, according to Surayo Pulatova, an advisor to the chairman of Uzbekhydroenergo JSC. During this time, their total capacity has risen from 1,800 to 2,200 megawatts.

As of the beginning of this year, 13 of these plants have been modernised.

On average, HPPs generate approximately 20 mln kWh of electricity each day, which accounts for about 9-11% of the total daily electricity demand in the country.

From January 1 to January 9, 8.2 bn kWh of electricity was produced, marking a...