Economy
Malaysia’s Petronas to launch two gas processing projects in Uzbekistan
Malaysian oil and gas company Petronas will participate in the implementation of two large gas processing projects in Uzbekistan, minister of investment Laziz Kudratov shared. The company closed its representative office in Uzbekistan 10 years ago and withdrew from all projects.
Needy families in Uzbekistan to receive free solar panels of 1.5−2 kW
About 20,000 needy families in Uzbekistan will receive free solar panels with a capacity of 1.5−2 kW, energy minister Jurabek Mirzamahmudov said.
Uzbekistan Airways leases two A330 aircrafts from Qanot Sharq
State-owned Uzbekistan Airways took a wet-lease of two Airbus A330 aircrafts from the private airline Qanot Sharq. The agreement was signed for one year.
Foreigners to be able to visit Termez international trade center visa-free for up to 15 days
Termez international trade center, a free trade zone, will accept payments in US dollars, euros, Chinese yuan and Russian rubles. Foreign visitors will be able to stay at the center’s territory without an entry visa for up to 15 days.
President of Uzbekistan meets Coca Cola head, voices support to company’s projects
President of Uzbekistan and chairperson and CEO of Coca Cola James Quincey discussed expanding investments, broadening product range, and personnel training. On Wednesday, the company opened its fourth plant in the country, with plans for the fifth plant next year.
IMF: Uzbekistan’s economic outlook broadly positive but domestic and external risks remain
Uzbekistan’s government should further improve the business environment, continue anticorruption efforts, and put into force asset declaration and conflict of interest laws. These are some of the recommendations by the IMF mission that visited Tashkent recently.
EBRD projects 6.5% economic growth for Uzbekistan in 2024
The European Bank for Reconstruction and Development projects Uzbekistan’s GDP to grow by 6.5% in 2024 and 6% in 2025. Analysts anticipate that investment and net exports will drive growth, while limitations may arise from deficits in energy and water resources.
Share of renewable energy in Uzbekistan’s electricity generation reaches 18% on Sunday
The share of renewable energy sources in Uzbekistan’s electricity production should reach 18% by year end, energy minister said. Uzbekistan already reached this goal last Sunday. Additionally, Uzbekistan is working with Azerbaijan and Kazakhstan to export green energy to European countries.
Tajikistan to join Unified Energy System of Central Asia this month — minister of energy of Uzbekistan
Tajikistan is expected to join the Unified Energy System of Central Asia by the end of May, said minister of energy of Uzbekistan Jurabek Mirzamahmudov.
New housing prices in Uzbekistan continued growth in first quarter — Central Bank
Growth of prices for preowned real estate in Uzbekistan slowed down in the first quarter, while new housing prices continued increasing. Rent costs rose insignificantly overall, but went down in Tashkent by 9.2% in US dollars. Land price in the capital reached UZS 364 million per 100 square meters.
“IT campuses” to be created in 14 remote districts and 1 town in Uzbekistan
“IT campuses” will be established in 14 remote districts and 1 town in Uzbekistan to provide free education in IT, foreign languages, and modern professions for young people. “In the rapidly changing era, all fields require IT professionals,” president Mirziyoyev said.
Uzbekistan aims to reach 10 million ton coal production by 2025
Uzbekistan aims to boost coal production to 8 million tons this year, up from 6.5 million tons last year, and to 10 million tons next year. The president has directed adoption of international standards in the industry, improvement of coal quality, and acceleration of investment projects.
ADB to support projects worth $3.5 billion in Uzbekistan in 2025−2027
Uzbekistan and ADB signed a memorandum on implementation of the country’s program for 2025−2027. Cooperation covers fields of energy, transport, water supply, urban infrastructure, agribusiness and natural resource management, finance, public sector and governance, education, and health.
Uzbekistan citizens granted renewed access to seasonal work in South Korea
Uzbekistan has reached an agreement with South Korea for seasonal work placements of Uzbekistan citizens following the “challenging negotiations”. South Korea suspended recruitment in 2021 due to several instances of Uzbekistanis violating labor agreements and visa terms.
Uzbekistan’s state budget registers over 25 trillion soums deficit in January-April
Uzbekistan’s state budget experienced a deficit of 25.5 trillion soums, roughly equivalent to $2 billion, during January to April.
500 MW wind farms to be built in two regions of Uzbekistan
Universal Energy, a Chinese company, is set to construct two wind farms totaling 500 MW capacity in the Samarkand and Jizzakh regions of Uzbekistan.
AFD, EU and UNDP join efforts to support green financing in Uzbekistan
EU granted €600,000 for a project, supported by Agence Française de Développement and UNDP, aimed at introducing the principles of green budgeting in Uzbekistan. The initiative implies consideration of the Sustainable Development Goals and environmental agenda in budgeting.
Tashkent-Andijan toll road project estimated at $4.6 billion, says deputy transport minister
The Tashkent-Andijan toll road project will cost $4.65 billion, deputy transport minister of Uzbekistan Jasurbek Choriyev said. The feasibility study is expected to be completed by the end of June. He also mentioned the Trans-Afghan railway and other projects.
Uzbekistan remains world’s top gold seller in March
In March, Uzbekistan again became the world’s largest gold seller, trading 11 tons of the precious metal. In February, the country sold 12 tons of gold.
Agreements worth $26.6 billion signed at Tashkent Investment Forum
Contracts totaling $26.6 billion were signed at the Tashkent International Investment Forum, the state authorities stated. Planned projects include new infrastructure in Tashkent, a data center, power plants, and modernization of heat supply systems in Nukus, Fergana, Quvasoy, and other places.
Sign up for additional features