Issue 2000 - 16.01.2026
16.01.2026

Uzbek President sets new KPIs for Ambassadors: exports, tourism and legal labor migration

A videoconference meeting chaired by President Shavkat Mirziyoyev was held to review the performance of the Ministry of Foreign Affairs and Uzbekistan’s diplomatic missions abroad.

“We are meeting at a difficult time, when sharp geopolitical shifts are taking place worldwide and threats to state sovereignty continue to intensify. Under these conditions, time itself requires us to critically reassess our foreign policy activities and reorganize the work of the Ministry of Foreign Affairs and our diplomatic missions abroad in a new way,” the President said at the opening of the meeting.

The Head of State noted that Uzbekistan’s foreign policy in 2025 had been largely effective. High-level visits were made to 26 foreign countries during the year. For the first time in the history of the new stage of independence, Uzbekistan hosted official visits by the leaders of Bulgaria, Finland, Slovakia, Serbia, Jordan and Paraguay.

Multilateral negotiations in the “Central Asia Plus” format proved productive. Over recent years, strategic partnership relations have been established with 11 countries, bringing their total number to 19, while allied relations were formed with Kazakhstan, Azerbaijan and Tajikistan.

“Thanks to our open, pragmatic, well-considered and proactive foreign policy, Uzbekistan is becoming one of the global centers of peace and diplomacy,” the President emphasized.

Since 2017, 16 new diplomatic and consular missions have been opened abroad, bringing their total number to 60, while the number of countries with which Uzbekistan has established diplomatic relations has reached 165.

It was noted at the meeting that staffing levels at embassies, consulates and missions to international organizations, as well as salaries of Ministry of Foreign Affairs employees, have been increased.

“But do all our diplomatic missions understand this correctly and are they using the opportunities available to them to the fullest? There is only one criterion for assessing diplomatic activity — results. In today’s conditions, an ambassador is not merely a person conducting political dialogue. An ambassador is a state representative who attracts investment and technology, opens new export markets, launches transport and logistics routes, increases tourist flows, creates conditions for legal labor migration and, most importantly, protects the rights of our citizens,” the President stressed.

From now on, key performance indicators for ambassadors will include export revenues from their countries of accreditation, tourist inflows, and the placement of Uzbek citizens in legal employment abroad.

The President underscored the need to strengthen economic diplomacy in order to increase exports and investment. Economic diplomacy serves to create new jobs, raise incomes and living standards, and thereby strengthen human dignity. Economic security, in turn, is the foundation of national security.

Within bilateral and multilateral engagements in 2025, agreements on investment projects and trade contracts totaling US$160 billion were signed. For the first time in history, Uzbekistan’s foreign trade volume exceeded US$80 billion, with exports reaching US$33.5 billion. Foreign investment also surged, surpassing US$43 billion.

It was noted that exports to 75 countries increased by nearly US$4.5 billion last year. If ambassadors work closely with foreign investors and major companies, this will open additional opportunities to further expand these figures.

As an example, Iraq — a country with almost no domestic production that imports goods worth US$100 billion for its internal market — represents a promising destination for Uzbek manufacturers. In this context, the visit of 150 of Iraq’s largest companies to Uzbekistan was positively assessed. They became closely acquainted with the operations of local enterprises and were surprised to discover that they previously had almost no information about Uzbek products. Going forward, they plan to open an official distributor for Uzbek companies in Iraq and actively enter Middle Eastern markets. As a result, agreements have already been reached this year on supplying goods to Iraq worth hundreds of millions of dollars.

It was noted that Uzbek ambassadors in countries such as Vietnam, Bahrain and Portugal should work according to a similar model, identifying partners and facilitating access to new markets.

Exports to Europe increased by 23 percent last year, reaching US$2.3 billion. However, it was also noted that in some countries Uzbek embassies have yet to demonstrate tangible results in promoting national products.

France is viewed as a new export channel for Uzbekistan’s chemical industry and a major market for enterprises in the Fergana, Navoi and Kashkadarya regions, as well as Tashkent. The Uzbek Embassy in France has been tasked with informing these enterprises about fertilizer demand in France, relevant standards, and organizing exhibitions featuring company leaders and products. Overall, the task has been set to develop a program to increase exports of mineral fertilizers to European countries with advanced agriculture.

It was emphasized that Spain has achieved significant success in agriculture even amid climate change and water scarcity. In the Almería region, a complex of continuous greenhouses covering more than 30,000 hectares has been created, generating €1.5 billion in tax revenues alone. Crucially, these greenhouses operate on solar energy and do not use gas. The Uzbek Ambassador to Spain has been instructed to develop a program to transfer advanced Spanish agricultural experience and technologies to the Surkhandarya and Kashkadarya regions.

The Netherlands ranks among the world’s top three exporters of agricultural products. The World Horti Center, an innovation and education hub uniting more than 100 greenhouse-related companies, is visited annually by over 40,000 specialists from around the world for professional training. The Uzbek Ambassador to Belgium has been tasked with organizing a visit for at least 100 domestic specialists to this center to study advanced innovations and best practices in greenhouse farming.

As a result of reforms in recent years, a class of large-scale entrepreneurs has emerged in Uzbekistan. It was noted that the time has come to assist such entrepreneurs in locating their projects in promising countries, enabling rapid entry into new markets.

Qatar, for example, offers attractive tax incentives for investors in free economic zones and provides subsidies covering 20–30 percent of electricity, water and other utility costs. Establishing production facilities for Uzbek enterprises in Qatar’s industrial zones would allow unobstructed access to the Gulf market, with a population of 60 million people. The Uzbek Ambassador to Qatar and other responsible officials have been instructed to work with local companies and launch projects in this direction.

This year, based on Egyptian experience, 100 tons of “super-super elite” seed potatoes were harvested from five hectares in the Kitab district. Following negotiations led by Uzbekistan’s Ambassador to Egypt, Egyptian investors have expressed readiness to expand planting areas to 1,000 hectares. One Egyptian company proposed utilizing 2,000 hectares of desert land in Tuproqkala to establish production of pivot irrigation equipment, while another major company initiated plans to produce a medication for hepatitis C treatment in Uzbekistan. Responsible authorities have been instructed to launch these projects.

Overall, the meeting emphasized the need to intensify trade and economic cooperation with the African continent, comprising more than 50 countries and an economy valued at US$3 trillion, as a new export direction.

The Ministries of Foreign Affairs, Investment, Industry and Trade, along with ambassadors to Egypt and Qatar, were instructed to approve a relevant roadmap for implementing these initiatives.

Against the backdrop of the current geopolitical situation, it was noted that transportation costs to Europe have doubled, negatively affecting the competitiveness of Uzbekistan’s national products.

In this context, it was noted that Poland serves as a key gateway for access to European markets, and Uzbekistan’s ambassador to that country has been instructed to present proposals aimed at reducing logistics costs.

Responsible officials were tasked with reaching an agreement with Polish counterparts on allocating a dedicated lane for Uzbek freight carriers at the Brest border crossing.

In addition, the relevant ministries were instructed to organize a meeting of the Uzbekistan–Romania intergovernmental commission and to achieve concrete agreements on expanding economic cooperation.

The importance of establishing a trade house in the Romanian city of Constanța was underscored, along with the objective of doubling export volumes to Romania in 2026.

In countries that collectively import textile products worth US$90 billion — the United States, Türkiye, the United Arab Emirates, China, Germany, Saudi Arabia, Russia and Poland — representative offices of the Agency for the Development of the Light Industry will be established.

Together with ambassadors and missions in these countries, they have been tasked with attracting at least 15 foreign sourcing companies and international brands to Uzbekistan, as well as introducing programs and standards such as Better Work, BCI and Organic across the operations of 100 local enterprises.

Regional governors, in cooperation with ambassadors, were instructed to place product samples from 500 major textile exporters in each embassy.

It was emphasized that ambassadors must be personally interested in identifying projects and ensuring their implementation. To this end, a system of bonus payments will be introduced for diplomats who successfully bring projects to completion.

Significant progress has been achieved this year in increasing exports to US$40 billion and investment to US$50 billion.

To sustain this momentum, each ambassador must analyze the comparative advantages of their country of accreditation and work with clear objectives and measurable results in exports, investment and the introduction of new technologies.

It was noted that some ministers and sectoral leaders are not effectively utilizing opportunities to attract foreign grants. With proper organization and coordinated work with donor organizations, supported by ambassadors, an additional US$200–300 million in grants could have been attracted last year alone.

Each year, international organizations and donor countries announce grant funding totaling around US$200 billion.

The task has been set to make effective use of this potential and to establish a new, systematic approach to working with grants.

In addition, together with ambassadors to the United States, the United Kingdom, Germany, Switzerland, China, Japan and Singapore, specific measures have been mandated to engage foreign universities ranked in the global Top 100 in partnerships with higher education institutions in Uzbekistan.

Another priority task is to provide Uzbek citizens with well-paid jobs abroad.

It was noted that whereas previously Uzbek citizens mainly worked in two or three countries, today, through organized labor migration, they are employed in more than 30 countries.

For example, companies from Germany, Japan and South Korea, based on their demand for specialists, have organized training courses in Uzbekistan.

A Japanese company has launched a project titled “Attracting 10,000 Uzbek Specialists” in the fields of construction, driving, and hotel and restaurant services. Seasonal worker placement schemes have also been organized for the United Kingdom.

At the same time, it was pointed out as a shortcoming that ambassadors in other countries have not shown sufficient initiative in replicating this experience with additional states.

In this regard, the work of ambassadors in Austria, France, Spain, Italy, the Czech Republic and Saudi Arabia in actively facilitating overseas employment was deemed unsatisfactory.

According to analysis, Sweden, Denmark and Norway currently have a demand for 300,000 workers.

Norwegian employers are ready this year to train 3,000 Uzbek citizens and issue them certificates in line with European standards. At the same time, Sweden is offering a grant to train social workers and employ 500 people as early as this year.

Responsible officials were instructed to reach agreements with Sweden, Denmark and Norway to facilitate the placement of Uzbek citizens in high-paying jobs.

Overall, ambassadors to Sweden and Latvia have been instructed to jointly develop a cooperation program on external labor migration with the Nordic countries.

It was noted that last year the United States government simplified the procedure for obtaining special visas for agricultural workers. The ambassador to the United States has been tasked with holding negotiations to include Uzbekistan in the list of countries from which seasonal workers are recruited to the US.

Furthermore, each regional governor has been instructed to establish a practice of direct engagement with developed countries that accept foreign labor.

In general, every ambassador bears responsibility for identifying high-paying jobs abroad, as well as for facilitating training of the population in relevant professions and foreign languages.

In this context, it was emphasized that it is important to conclude intergovernmental and interagency agreements on migration with Japan, Sweden, Norway, Bulgaria, Austria, Croatia, Slovenia, Serbia, Greece and Oman.

“Our concern is caused by the presence of our citizens abroad in an irregular legal situation,” the Head of State stated.

Last year, a “migration amnesty” was applied in Russia to more than 150,000 Uzbek citizens. Similar efforts must be pursued in other countries to ensure that our citizens are able to work legally, to intensify negotiations with foreign partners in this area, and at the same time to ensure that citizens comply with the laws of the countries in which they reside.

From now on, work with labor migrants in countries experiencing growing migration flows, particularly in Europe, will become a primary responsibility of consular officers at embassies.

In addition, instructions were given to simplify procedures for registering Uzbek citizens with consulates abroad and to reduce excessive bureaucracy.

Reports of violations of the rights of Uzbek citizens during various raids overseas have caused serious public concern. In most cases, the Ministry of Foreign Affairs has limited its response to issuing an official diplomatic note.

“Ambassadors and consuls must provide qualified legal assistance in every such case and protect the rights and interests of our citizens abroad,” the President emphasized.

It was also noted that situations in which young people or students become involved in dubious activities abroad should be a matter of serious concern.

From now on, ambassadors must abandon “desk-bound diplomacy” and personally visit workplaces, dormitories and student classrooms abroad in order to understand the problems faced by citizens and identify ways to address them.

Responsible officials were instructed to establish a free call center for citizens who find themselves in difficult situations abroad, as well as to put in place a system that enables prompt resolution of their appeals in coordination with relevant ministries.

In recent years, tourism has become an important and steadily developing strategic sector of the economy.

Last year, the number of tourists visiting Uzbekistan rose sharply to 11.5 million, while tourism exports reached US$4.7 billion.

By 2030, the country aims to double tourist arrivals to 20 million. To achieve this goal, ambassadors have been tasked, together with the Tourism Committee, with developing new approaches and initiatives and attracting major outsourcing companies.

In this regard, specific tasks have been assigned to Uzbekistan’s ambassadors to Russia, Belarus, South Korea, Germany and the United States.

Tourism and culture counselor positions will be introduced at the embassies of Uzbekistan in the United States, the United Kingdom, Indonesia, Russia, France and China. Ambassadors in these countries have been instructed to make effective use of this opportunity in order to increase tourist flows by two to three times.

From this year, a visa-free regime has been introduced for citizens of the United States. It was emphasized that active negotiations should be held with major US companies employing more than 100,000 people, with the goal of doubling the number of tourists arriving from the United States within the current year.

Issues related to expanding bilateral and multilateral political and diplomatic ties and enhancing the international standing of New Uzbekistan were also discussed.

Uzbekistan will assume the chairmanship of the Non-Aligned Movement in 2027–2029, and its candidacy is being put forward for election as a non-permanent member of the UN Security Council for the period 2035–2036.

It was underscored that all Uzbek diplomats must maintain a high level of activity on the international stage this year and make substantial efforts to ensure that the country’s foreign policy agenda becomes even more substantive and results-oriented.

It was noted that preparations for high-level visits should begin well in advance, rather than one month before an event. Poorly thought-out agreements may turn into unpromising projects in the future, while investors risk losing years without achieving tangible results.

Dissatisfaction was expressed over the fact that high-level visits to major countries with significant global influence and potential—such as the United Kingdom, Spain, Indonesia, Australia, Brazil and Canada—have not yet taken place, and that proposals to intensify cooperation with countries where relations remain underdeveloped have not been prepared.

A task was set to improve the quality of preparation for high-level foreign visits and to strengthen the strategic analytical and planning capacity of the Ministry of Foreign Affairs.

The meeting also emphasized the need to retrain professional diplomatic personnel and to improve the system for forming a reserve of promising staff.

The importance of intensifying the work of the Dunyo Information Agency was highlighted, along with establishing systematic cooperation with reputable foreign PR companies, specialized media projects and leading international media outlets.

Within this framework, it was identified as a priority to regularly communicate Uzbekistan’s foreign policy initiatives and strengthen its image through international press conferences and interviews.

The President stressed that the time has come to transition to a new system of engagement with foreign embassies operating in Uzbekistan and with international organizations.

It was noted that it would be expedient to invite foreign diplomats to the regions, conduct joint monitoring of cooperation, and develop joint proposals for new projects.

Deep geopolitical changes taking place in the world, instability in the system of international relations, regional confrontations and global economic transformations require every state to continuously reassess its foreign policy and adapt it to national interests and the demands of the time.

“As a result of our open, pragmatic and balanced foreign policy in recent years, Uzbekistan’s position and international standing on the global stage have been consistently strengthening.

At the same time, changes in the global security architecture, the formation of new economic alliances and trade routes, as well as transformations in technology and energy markets, require our foreign policy to adopt an even more active, clearly targeted and results-oriented approach,” the President noted.

In this regard, the need was emphasized to update the Concept of Foreign Policy Activity of the Republic of Uzbekistan, revise its priority areas, and define clear objectives aimed at protecting national interests and strengthening the country’s position in the international arena.

“The new concept must, in an integrated and interconnected manner, reflect the country’s long-term strategic objectives, the logic of domestic reforms, as well as our national interests in the areas of economic diplomacy, security, investment, exports, transport and logistics development, and water and climate issues,” the head of state emphasized.

In order to ensure the effective organization of work, it was decided to allocate additional funding to each diplomatic mission. As a sign of proper recognition of the merits of Uzbek diplomats, a proposal was made to establish the honorary title “Honored Diplomat of the Republic of Uzbekistan.”

“Each of you is a reliable representative of the state and the people, working abroad on behalf of Uzbekistan and clearly demonstrating the spirit and momentum of the transformations of New Uzbekistan.

You must set an example for those around you through your intellect, high personal standards, a strong level of knowledge, and the embodiment of the best values and traditions of our noble people.

The time has come for genuinely patriotic diplomats of a new format—working in a renewed spirit, achieving concrete results, and firmly defending the interests of Uzbekistan on the international stage.

It is through you, first and foremost, that the new image and identity of New Uzbekistan are shaped, along with its honor and prestige. I wish you all success and victories on this honorable and responsible path,” the President said in concluding the meeting.

During the meeting, reports and proposals were also heard from Uzbekistan’s ambassadors serving abroad.

By UzDaily

Uzbekistan General

16.01.2026

Uzbekistan and Türkiye discuss expanding cooperation and joint project plans for 2026

 On 15 January, Munira Aminova, Advisor to the Minister of Foreign Affairs of the Republic of Uzbekistan, held a meeting with Esin Açar Ergin, Head of the Turkish Cooperation and Coordination Agency (TIKA).

During the talks, the parties exchanged views on the current state and future prospects of Uzbek-Turkish cooperation. They...

 On 15 January, Munira Aminova, Advisor to the Minister of Foreign Affairs of the Republic of Uzbekistan, held a meeting with Esin Açar Ergin, Head of the Turkish Cooperation and Coordination Agency (TIKA).

During the talks, the parties exchanged views on the current state and future prospects of Uzbek-Turkish cooperation. They...

16.01.2026

USA suspends processing of immigrant visas for citizens of Uzbekistan and 74 other countries

The USA announced the suspension of immigrant visa processing for citizens of Uzbekistan and 74 other countries starting from 21 January for an indefinite period. At the same time, applications will be accepted. Existing immigrant visas are not being cancelled. Tourist visas will continue to be issued as before.

The US...

The USA announced the suspension of immigrant visa processing for citizens of Uzbekistan and 74 other countries starting from 21 January for an indefinite period. At the same time, applications will be accepted. Existing immigrant visas are not being cancelled. Tourist visas will continue to be issued as before.

The US...

16.01.2026

Work with labour migrants becomes main task of consuls, says President of Uzbekistan

President Shavkat Mirziyoyev stated that the key task of consuls will now be working with labour migrants in countries with growing migration flows, especially in Europe. He ordered the simplification of registering citizens for consular records and the reduction of excessive bureaucracy.

On 15 January, the President of Uzbekistan Shavkat Mirziyoyev...

President Shavkat Mirziyoyev stated that the key task of consuls will now be working with labour migrants in countries with growing migration flows, especially in Europe. He ordered the simplification of registering citizens for consular records and the reduction of excessive bureaucracy.

On 15 January, the President of Uzbekistan Shavkat Mirziyoyev...

16.01.2026

Exports to Europe grow by 23%, but more expected from Uzbekistan ambassadors

The President of Uzbekistan noted the growth of exports to Europe to 2.3 billion dollars, while pointing to the insufficient activity of ambassadors in promoting the brand of Uzbek products in a number of markets. Iraq, France, and African countries were named among the promising destinations for Uzbek goods.

Uzbekistan will...

The President of Uzbekistan noted the growth of exports to Europe to 2.3 billion dollars, while pointing to the insufficient activity of ambassadors in promoting the brand of Uzbek products in a number of markets. Iraq, France, and African countries were named among the promising destinations for Uzbek goods.

Uzbekistan will...

16.01.2026

Maternal and infant mortality rates decrease by 4.4 and 3.9 times over 34 years

In Uzbekistan in 1991, there were 65.3 cases of maternal mortality per 100,000 live births. In 2025, this figure was 14.8 cases. The mortality rate among children under the age of 1 and under 5 during this period decreased to 9 and 12.5 cases respectively.

In Uzbekistan over 34 years, maternal...

In Uzbekistan in 1991, there were 65.3 cases of maternal mortality per 100,000 live births. In 2025, this figure was 14.8 cases. The mortality rate among children under the age of 1 and under 5 during this period decreased to 9 and 12.5 cases respectively.

In Uzbekistan over 34 years, maternal...

Finance and Investment

16.01.2026

Uzbek soum position remains stable

By 15 January 2026, the Uzbek soum exchange rate remained almost unchanged in pair with the US dollar.

The American dollar costs 11,990 soum — this means that over the past week, the soum fell by a symbolic 0.08%. In the previous reporting period, it grew by 0.68% in total for...

By 15 January 2026, the Uzbek soum exchange rate remained almost unchanged in pair with the US dollar.

The American dollar costs 11,990 soum — this means that over the past week, the soum fell by a symbolic 0.08%. In the previous reporting period, it grew by 0.68% in total for...

16.01.2026

ADB: global trade finance gap remains at $2.5 trillion

According to the latest study by the Asian Development Bank (ADB), global demand for trade finance will continue to grow as markets diversify, intraregional trade deepens, and supply chains are restructured. This was stated by 80% of banks surveyed for the Global Trade Finance Gap Survey report.

The report, which is...

According to the latest study by the Asian Development Bank (ADB), global demand for trade finance will continue to grow as markets diversify, intraregional trade deepens, and supply chains are restructured. This was stated by 80% of banks surveyed for the Global Trade Finance Gap Survey report.

The report, which is...

16.01.2026

Yangi Bank loss exceeds 171 billion soum — major part occurs in 2025

Due to the losses incurred, the equity of the bank, from which the Central Bank revoked the license, amounted to less than 183 billion soum.

As Spot previously wrote, on 15 January, the Central Bank revoked the banking license from the private Yangi Bank. Among the reasons cited were a charter...

Due to the losses incurred, the equity of the bank, from which the Central Bank revoked the license, amounted to less than 183 billion soum.

As Spot previously wrote, on 15 January, the Central Bank revoked the banking license from the private Yangi Bank. Among the reasons cited were a charter...

16.01.2026

Banking sector net profit exceeds $1 billion, says CERR

The loan portfolio grew by 13% over the year, while the share of non performing loans fell to 3.5%.

The Center for Economic Research and Reforms published the "Bank Activity Index" report for the fourth quarter of 2025. The rating covers 35 credit institutions operating in Uzbekistan as of 1 December.

Taking...

The loan portfolio grew by 13% over the year, while the share of non performing loans fell to 3.5%.

The Center for Economic Research and Reforms published the "Bank Activity Index" report for the fourth quarter of 2025. The rating covers 35 credit institutions operating in Uzbekistan as of 1 December.

Taking...

16.01.2026

Review: most profitable soum deposits in Uzbekistan banks for January 2026

A soum deposit can be opened in 25 out of 34 banks. The maximum interest rate is 24%. Attention: the information is current only at the time of publication and is provided for informational purposes. Spot recommends contacting the bank for accurate information. Spot studied the conditions of offline and online deposits in the national currency. A soum deposit can be opened in 25 out of 34 operating banks. Currently, interest rates on deposits vary in the range of 17–24%. The maximum yield — 24% per annum — is offered by Uzum Bank. Anorbank, Universalbank, and TBC Bank set rates at 22%, however, such deposits do not provide for account replenishment or partial withdrawal of funds. At the same time, individual banks allow for the contribution of additional funds only during the first months or set a minimum replenishment threshold. For example, Universal Bank accepts additional contributions from 500,000 soum. Most banks offer deposits with moderate yields (20–21%) but with more flexible conditions including the possibility of replenishment and partial withdrawal. The minimum amount to open a deposit is 10,000 soum. The average amount required to open a deposit is 100,000–500,000 soum, the highest being at Tenge Bank — 10 million soum. In case of early closure, the rate is recalculated depending on the period the funds were kept. Excessively accrued interest is withheld from the principal amount of the deposit.
Bank Name Rate Min Amount (in soum) Term (months) Replenishment Withdrawal
Uzum Bank 24% 500,000 18 + With balance 500,000
ANORBANK 22% 1 million 24 - -
Universal Bank 22% 100,000 36 First 6 months -
TBC BANK 22% 100,000 3–24 - -
"Ipoteka-bank" 21% 500,000 24 First 3 months -
ASIA ALLIANCE BANK 21% 500,000 24 + -
Davr bank 21% 100,000 Up to 60 + +
"Turonbank" 21% 100,000 18 + +
"Trustbank" 21% 500,000 24 First 12 months With balance 500,000
"Uzpromstroybank" 21% 100,000 13 - -
"Agrobank" 21% 500,000 13 Min 500,000 With balance 500,000
"Asakabank" 19–21%** 100,000 24 + -
NBU 20–21%* 500,000 6 + -
"Business Development Bank" 20–21%* 500,000 13 + +
"Microcreditbank" 20–21%* 3 million Up to 24 + With balance 3 million
"Kapital bank" 20% 100,000 25 + -
"Poytaxt Bank" 20% 1 million 24 - -
Garant Bank 20% 10,000 555 days First 333 days -
Hamkorbank 20% 100,000 24 First 12 months -
"Ipak Yuli" Bank 20% 1 million 24 - -
"Aloqa Bank" 19% 1 million 18 - -
Tenge Bank 19% 10 million 12 - -
People's Bank 19% 100,000 24 + -
Invest Finance Bank 18% 500,000 24 + With balance 500,000
"Orient Finance" Bank 17–18%* 1 million 13 - -
Reported by Spot (Uzbekistan).

A soum deposit can be opened in 25 out of 34 banks. The maximum interest rate is 24%.

Attention: the information is current only at the time of publication and is provided for informational purposes. Spot recommends contacting the bank for accurate information.

Spot studied the conditions of offline and online deposits in the national currency. A soum deposit can be opened in 25 out of 34 operating banks.

Currently, interest rates on deposits vary in the range of 17–24%. The maximum yield — 24% per annum — is offered by Uzum Bank.

Anorbank, Universalbank, and TBC Bank set rates at 22%, however, such deposits do not provide for account replenishment or partial withdrawal of funds.

At the same time, individual banks allow for the contribution of additional funds only during the first months or set a minimum replenishment threshold. For example, Universal Bank accepts additional contributions from 500,000 soum.

Most banks offer deposits with moderate yields (20–21%) but with more flexible conditions including the possibility of replenishment and partial withdrawal.

The minimum amount to open a deposit is 10,000 soum. The average amount required to open a deposit is 100,000–500,000 soum, the highest being at Tenge Bank — 10 million soum.

In case of early closure, the rate is recalculated depending on the period the funds were kept. Excessively accrued interest is withheld from the principal amount of the deposit.

Bank Name

Rate

Min Amount (in soum)

Term (months)

Replenishment

Withdrawal

Uzum Bank

24%

500,000

18

+

With balance 500,000

ANORBANK

22%

1 million

24

-

-

Universal Bank

22%

100,000

36

First 6 months

-

TBC BANK

22%

100,000

3–24

-

-

"Ipoteka-bank"

21%

500,000

24

First 3 months

-

ASIA ALLIANCE BANK

21%

500,000

24

+

-

Davr bank

21%

100,000

Up to 60

+

+

"Turonbank"

21%

100,000

18

+

+

"Trustbank"

21%

500,000

24

First 12 months

With balance 500,000

"Uzpromstroybank"

21%

100,000

13

-

-

"Agrobank"

21%

500,000

13

Min 500,000

With balance 500,000

"Asakabank"

19–21%**

100,000

24

+

-

NBU

20–21%*

500,000

6

+

-

"Business Development Bank"

20–21%*

500,000

13

+

+

"Microcreditbank"

20–21%*

3 million

Up to 24

+

With balance 3 million

"Kapital bank"

20%

100,000

25

+

-

"Poytaxt Bank"

20%

1 million

24

-

-

Garant Bank

20%

10,000

555 days

First 333 days

-

Hamkorbank

20%

100,000

24

First 12 months

-

"Ipak Yuli" Bank

20%

1 million

24

-

-

"Aloqa Bank"

19%

1 million

18

-

-

Tenge Bank

19%

10 million

12

-

-

People's Bank

19%

100,000

24

+

-

Invest Finance Bank

18%

500,000

24

+

With balance 500,000

"Orient Finance" Bank

17–18%*

1 million

13

-

-

Reported by Spot (Uzbekistan).

Oil and Gas Sector

16.01.2026

Tenders may replace private gas production operators in Uzbekistan

Due to slow rates of geological exploration by investors, the "Uzbekneftegaz" company decided to conduct a re inventory of investment blocks in three regions of the country. There are also plans to review the work of private gas production operators failing to meet their obligations and to attract new ones...

Due to slow rates of geological exploration by investors, the "Uzbekneftegaz" company decided to conduct a re inventory of investment blocks in three regions of the country. There are also plans to review the work of private gas production operators failing to meet their obligations and to attract new ones...

16.01.2026

Saneg JetWhites sells almost 64,000 tonnes of aviation fuel in Uzbekistan since April 2025

Saneg JetWhites, a subsidiary of Saneg established for the distribution of aviation fuel, has sold almost 64,000 tonnes of aviation fuel on the Uzbekistan market since April 2025. This was reported by the company, summarising the results of work since the start of operational activity and outlining key results of...

Saneg JetWhites, a subsidiary of Saneg established for the distribution of aviation fuel, has sold almost 64,000 tonnes of aviation fuel on the Uzbekistan market since April 2025. This was reported by the company, summarising the results of work since the start of operational activity and outlining key results of...

Trade and Consumer Goods

16.01.2026

Uzbekistan foreign trade turnover exceeds $80 billion for first time, exports reach $33.5 billion

KPIs for exports, tourist flow, and migration will be set for ambassadors. In 2025, Uzbekistan signed agreements worth $160 billion.

On 15 January, Shavkat Mirziyoyev is holding a video selector meeting on the activities of the Ministry of Foreign Affairs and diplomatic missions abroad.

At the meeting, an increase in the staff...

KPIs for exports, tourist flow, and migration will be set for ambassadors. In 2025, Uzbekistan signed agreements worth $160 billion.

On 15 January, Shavkat Mirziyoyev is holding a video selector meeting on the activities of the Ministry of Foreign Affairs and diplomatic missions abroad.

At the meeting, an increase in the staff...

Agriculture

16.01.2026

Agricultural ministers discuss supply of Uzbek products to Iraq

In Tashkent, within the framework of the Uzbekistan–Iraq Investment and Business Forum, the Minister of Agriculture of Uzbekistan, Ibrokhim Abdurakhmanov, held a meeting with the Minister of Trade of the Republic of Iraq, Athir Daoud Salman Al-Ghurairi. The meeting became an important step towards further strengthening bilateral cooperation in the agricultural...

In Tashkent, within the framework of the Uzbekistan–Iraq Investment and Business Forum, the Minister of Agriculture of Uzbekistan, Ibrokhim Abdurakhmanov, held a meeting with the Minister of Trade of the Republic of Iraq, Athir Daoud Salman Al-Ghurairi. The meeting became an important step towards further strengthening bilateral cooperation in the agricultural...

16.01.2026

Uzbekistan and Pakistan discuss expansion of cooperation in agriculture

An official working trip of an Uzbekistan delegation led by the Deputy Minister of Agriculture, Jamshidjon Abduzukhurov, is taking place in Islamabad. As part of the visit, a meeting was held with the Federal Secretary of the Ministry of National Food Security and Research of Pakistan, Saif Anjum, where prospects for...

An official working trip of an Uzbekistan delegation led by the Deputy Minister of Agriculture, Jamshidjon Abduzukhurov, is taking place in Islamabad. As part of the visit, a meeting was held with the Federal Secretary of the Ministry of National Food Security and Research of Pakistan, Saif Anjum, where prospects for...

Energy Industry

16.01.2026

EBRD invests up to $195.5 million in construction of solar power plant and battery storage in Uzbekistan

The European Bank for Reconstruction and Development (EBRD) continues to actively support the development of renewable energy in Uzbekistan by providing financing for the construction and operation of a new 300 MW solar power plant with a 75 MWh battery storage system in the Kashkadarya region. The total financing package organised...

The European Bank for Reconstruction and Development (EBRD) continues to actively support the development of renewable energy in Uzbekistan by providing financing for the construction and operation of a new 300 MW solar power plant with a 75 MWh battery storage system in the Kashkadarya region. The total financing package organised...

16.01.2026

ADB and Masdar sign $30 million deal to expand solar energy and energy storage systems in Uzbekistan

The Asian Development Bank (ADB) and Abu Dhabi Future Energy Company PJSC (Masdar) signed a 30 million dollar financing package for the construction of a 300 MW solar power plant and a 75 MWh Battery Energy Storage System (BESS) in the city of Guzar, the Kashkadarya region, Uzbekistan. The Guzar Solar...

The Asian Development Bank (ADB) and Abu Dhabi Future Energy Company PJSC (Masdar) signed a 30 million dollar financing package for the construction of a 300 MW solar power plant and a 75 MWh Battery Energy Storage System (BESS) in the city of Guzar, the Kashkadarya region, Uzbekistan. The Guzar Solar...

Manufacturing industry

16.01.2026

Uzbekistan plans construction of six waste processing plants with electricity generation

Uzbekistan plans the construction of plants for the thermal processing of solid municipal waste with subsequent electricity production. This is reported by the Agency for Waste Management and Circular Economy Development. Projects will be implemented simultaneously in six regions of the country, which will be an important step in modernising the sanitation...

Uzbekistan plans the construction of plants for the thermal processing of solid municipal waste with subsequent electricity production. This is reported by the Agency for Waste Management and Circular Economy Development. Projects will be implemented simultaneously in six regions of the country, which will be an important step in modernising the sanitation...

16.01.2026

More than twofold growth in car production volumes expected in Uzbekistan

According to The Gulf Observer publication, the updated draft of the "Uzbekistan 2030" strategy sets a goal to sharply increase the production of passenger cars in the country. By 2030, output is planned to be brought to almost 1 million units. According to the strategy, the production volume of passenger cars in...

According to The Gulf Observer publication, the updated draft of the "Uzbekistan 2030" strategy sets a goal to sharply increase the production of passenger cars in the country. By 2030, output is planned to be brought to almost 1 million units. According to the strategy, the production volume of passenger cars in...

Communications and Transportation

16.01.2026

JinkoSolar supplies Tiger Neo 3.0 solar modules with 300 MW capacity to Uzbekistan

The JinkoSolar company announced the signing of a memorandum of understanding for the supply of Tiger Neo 3.0 photovoltaic modules with a total installed capacity of 300 MW to Uzbekistan. The supplies are intended for a number of customers, including Arif, Power Sun, Darian Solar, and Deltron Energy, and will become...

The JinkoSolar company announced the signing of a memorandum of understanding for the supply of Tiger Neo 3.0 photovoltaic modules with a total installed capacity of 300 MW to Uzbekistan. The supplies are intended for a number of customers, including Arif, Power Sun, Darian Solar, and Deltron Energy, and will become...

16.01.2026

Gebrüder Weiss expands presence in Uzbekistan against background of foreign trade growth

From 1 January 2026, the Gebrüder Weiss representative office in Tashkent received the status of an independent legal entity, reflecting the growing demand for quality logistics services in Uzbekistan. International and local companies increasingly require reliable supply chain management solutions, especially in the agricultural machinery sector, where Gebrüder Weiss ensures the...

From 1 January 2026, the Gebrüder Weiss representative office in Tashkent received the status of an independent legal entity, reflecting the growing demand for quality logistics services in Uzbekistan. International and local companies increasingly require reliable supply chain management solutions, especially in the agricultural machinery sector, where Gebrüder Weiss ensures the...

16.01.2026

Six flights to Uzbekistan return to departure airports due to closure of Iran air space

Six flights between Uzbekistan cities and other countries were forced to return to their airports of departure on the evening of 14 January after the closure of Iranian airspace, reports Uzbekistan Airports. Three flights were heading from Saudi Arabia to Tashkent and Fergana, while the others connected Uzbekistan cities with Middle...

Six flights between Uzbekistan cities and other countries were forced to return to their airports of departure on the evening of 14 January after the closure of Iranian airspace, reports Uzbekistan Airports. Three flights were heading from Saudi Arabia to Tashkent and Fergana, while the others connected Uzbekistan cities with Middle...

16.01.2026

President orders reduction of logistics costs for exports to Europe

In current geopolitical conditions, the cost of transporting cargo to Europe has almost doubled, which negatively affects the competitiveness of Uzbek manufacturers' products. President of Uzbekistan Shavkat Mirziyoyev stated this at a meeting on 15 January. The head of state noted that Poland is considered one of the key "gateways" to European...

In current geopolitical conditions, the cost of transporting cargo to Europe has almost doubled, which negatively affects the competitiveness of Uzbek manufacturers' products. President of Uzbekistan Shavkat Mirziyoyev stated this at a meeting on 15 January. The head of state noted that Poland is considered one of the key "gateways" to European...

Pharmaceutical and Healthcare News

16.01.2026

Turkish pharmaceutical companies study prospects for localising production in Uzbekistan

A delegation from the Pharmaceutical Industry Development Agency (UzPharm Agency) held a series of meetings in Turkey with representatives of the country's leading institutional and private structures. Negotiations were held with the Union of Chambers and Commodity Exchanges of Turkey (TOBB), as well as with the management and relevant specialists of...

A delegation from the Pharmaceutical Industry Development Agency (UzPharm Agency) held a series of meetings in Turkey with representatives of the country's leading institutional and private structures. Negotiations were held with the Union of Chambers and Commodity Exchanges of Turkey (TOBB), as well as with the management and relevant specialists of...

Regional News

16.01.2026

Russia’s foreign trade turnover decreases by 4.1% in eleven months of 2025

Russia foreign trade turnover for 11 months of 2025 amounts to 622.7 billion US dollars, which is 4.1% or 27 billion dollars less than in the same period of 2024, an official report from the Federal Customs Service of Russia says.

In particular, export of goods from Russia in value terms...

Russia foreign trade turnover for 11 months of 2025 amounts to 622.7 billion US dollars, which is 4.1% or 27 billion dollars less than in the same period of 2024, an official report from the Federal Customs Service of Russia says.

In particular, export of goods from Russia in value terms...

16.01.2026

Russian transport receives new configuration in 2026

In 2025, Russian transport successfully overcomes a number of challenges and trials. This is what it is about, how transport flows are being rebuilt inside the country and beyond its borders and what they should ultimately look like in a few years.

If one looks at Russian transport in 2025 from...

In 2025, Russian transport successfully overcomes a number of challenges and trials. This is what it is about, how transport flows are being rebuilt inside the country and beyond its borders and what they should ultimately look like in a few years.

If one looks at Russian transport in 2025 from...

16.01.2026

MOEX index fluctuates on announcement of Putin speech

The Russian stock market draws a sharp green candle to 2,707 points on the Moscow Exchange Index in the middle of Thursday, 15 January, following a Kremlin report that Vladimir Putin makes an important statement on foreign policy today. However, the indicator later corrects below the 2,700 mark. Clarification from...

The Russian stock market draws a sharp green candle to 2,707 points on the Moscow Exchange Index in the middle of Thursday, 15 January, following a Kremlin report that Vladimir Putin makes an important statement on foreign policy today. However, the indicator later corrects below the 2,700 mark. Clarification from...

16.01.2026

Russia’s lending market results show recovery in 2025

Following an almost complete halt in lending at the beginning of 2025, a slight warming began in the market by the summer — in both corporate and retail segments. The decrease in the key rate led to some revival in demand and disbursements, though the cost of loans remains prohibitive....

Following an almost complete halt in lending at the beginning of 2025, a slight warming began in the market by the summer — in both corporate and retail segments. The decrease in the key rate led to some revival in demand and disbursements, though the cost of loans remains prohibitive....

16.01.2026

Russia trade balance surplus drops by 10.5% to $124.7 billion

The positive foreign trade balance of the Russian Federation in January–November 2025 decreased by 10.5% compared to the same period in 2024 and amounted to $124.7 billion (against $139.3 billion a year earlier), according to Federal Customs Service data published on Thursday.

Exports from the Russian Federation in January–November 2025 decreased...

The positive foreign trade balance of the Russian Federation in January–November 2025 decreased by 10.5% compared to the same period in 2024 and amounted to $124.7 billion (against $139.3 billion a year earlier), according to Federal Customs Service data published on Thursday.

Exports from the Russian Federation in January–November 2025 decreased...