Issue 1804 - 28.03.2025
28.03.2025

Uzbek head of state meets with European Commission Vice President

On 27 March, President of Uzbekistan Shavkat Mirziyoyev received a delegation from the European Union led by the EU High Representative for Foreign Affairs and Security Policy, European Commission Vice President Kaja Kallas.

The meeting focused on expanding practical cooperation and preparing for upcoming joint events.

At the beginning of the discussion, Kaja Kallas conveyed sincere greetings and best wishes from President of the European Council António Costa and President of the European Commission Ursula von der Leyen.

Special attention was given to the organization of the first Central Asia – European Union summit, scheduled for 3–4 April in Samarkand. In this context, the positive outcomes of the recent ministerial meeting held in Ashgabat were noted.

Both sides emphasized the importance of strengthening mutually beneficial cooperation between Central Asia and the EU, highlighting key areas such as trade and logistics — including the development of the Trans-Caspian transport corridor — digitalization, green energy, environmental protection, infrastructure modernization, and the implementation of effective mechanisms for joint initiatives and projects.

Discussions also covered deepening Uzbekistan's engagement with EU institutions and progress on the new Enhanced Partnership and Cooperation Agreement. Additionally, the parties reviewed Uzbekistan’s prospects for joining the World Trade Organization.

The meeting also included an exchange of views on current international and regional issues.

Reported by the Uzbekistan Daily.

Uzbekistan General

28.03.2025

Uzbekistan hosts 1.33 million foreign tourists in 2M25, up 37% y/y

Uzbekistan recorded 1.33 million foreign tourist arrivals in January-February 2025, according to the national Statistical Committee. The figure marks a 37% increase (361,200 more visitors) compared to the same period in 2024 and a 52.8% rise from 2023.

Kyrgyzstan topped the list with 422,500 visitors, overtaking Tajikistan (401,300), which had previously led in early 2024....

Uzbekistan recorded 1.33 million foreign tourist arrivals in January-February 2025, according to the national Statistical Committee. The figure marks a 37% increase (361,200 more visitors) compared to the same period in 2024 and a 52.8% rise from 2023.

Kyrgyzstan topped the list with 422,500 visitors, overtaking Tajikistan (401,300), which had previously led in early 2024....

28.03.2025

Uzbekistan’s Foreign Minister attends Central Asia–EU meeting in Ashgabat

Uzbekistan’s Minister of Foreign Affairs, Bakhtiyor Saidov, participated in the 20th ministerial meeting of Central Asia–European Union held in Ashgabat.

In his Telegram channel, the Uzbek foreign minister highlighted the significance of the meeting as an important platform for strengthening partnerships between the regions. He noted that comprehensive discussions took place...

Uzbekistan’s Minister of Foreign Affairs, Bakhtiyor Saidov, participated in the 20th ministerial meeting of Central Asia–European Union held in Ashgabat.

In his Telegram channel, the Uzbek foreign minister highlighted the significance of the meeting as an important platform for strengthening partnerships between the regions. He noted that comprehensive discussions took place...

28.03.2025

Uzbekistan imposes liability for undergoing training aimed at organizing mass riots

Uzbekistan has introduced criminal liability for undergoing training with the intent to organize mass riots.

President Shavkat Mirziyoyev has signed a law amending Article 244 of the Criminal Code.

According to the amendments, criminal penalties now apply not only to those who directly organize riots but also to individuals undergoing training for...

Uzbekistan has introduced criminal liability for undergoing training with the intent to organize mass riots.

President Shavkat Mirziyoyev has signed a law amending Article 244 of the Criminal Code.

According to the amendments, criminal penalties now apply not only to those who directly organize riots but also to individuals undergoing training for...

28.03.2025

Uzbek and Turkmen Foreign Ministers discuss strengthening strategic partnership

Uzbekistan’s Minister of Foreign Affairs, Bakhtiyor Saidov, held talks with Turkmenistan’s Deputy Chairman of the Cabinet of Ministers and Minister of Foreign Affairs, Rashid Meredov.

As Bakhtiyor Saidov noted on his Telegram channel, the meeting was comprehensive, covering a wide range of bilateral and multilateral cooperation issues.

Special emphasis was placed on...

Uzbekistan’s Minister of Foreign Affairs, Bakhtiyor Saidov, held talks with Turkmenistan’s Deputy Chairman of the Cabinet of Ministers and Minister of Foreign Affairs, Rashid Meredov.

As Bakhtiyor Saidov noted on his Telegram channel, the meeting was comprehensive, covering a wide range of bilateral and multilateral cooperation issues.

Special emphasis was placed on...

Finance and Investment

28.03.2025

Uzbek head of state orders acceleration of privatization: assets worth 30 trillion soum to be sold in 2025

On 27 March, President of Uzbekistan Shavkat Mirziyoyev held an extended meeting dedicated to the key privatization objectives of state assets for the current year.

In recent years, active measures have been taken as part of a large-scale privatization program to ensure the efficient use of real estate and support entrepreneurship....

On 27 March, President of Uzbekistan Shavkat Mirziyoyev held an extended meeting dedicated to the key privatization objectives of state assets for the current year.

In recent years, active measures have been taken as part of a large-scale privatization program to ensure the efficient use of real estate and support entrepreneurship....

28.03.2025

Reduction in state-owned enterprise lending to boost eurobond issuance in Uzbekistan

Uzbekistan continues to reform its state-owned banks and enterprises, reducing government involvement in the economy and attracting private investment.

According to a Moody’s report, state-owned banks, which have historically dominated the country’s banking sector (as of late 2023, the nine largest state banks controlled 65.4% of assets and 69% of the...

Uzbekistan continues to reform its state-owned banks and enterprises, reducing government involvement in the economy and attracting private investment.

According to a Moody’s report, state-owned banks, which have historically dominated the country’s banking sector (as of late 2023, the nine largest state banks controlled 65.4% of assets and 69% of the...

28.03.2025

Non-performing loan ratio in Uzbekistan’s banking sector remains at 4.5%

As of February 2025, the total loan portfolio of Uzbekistan’s banking sector increased by 1.1%, surpassing 540 trillion soum. The share of non-performing loans (NPL) remained at 4.5%, amounting to approximately 24.35 trillion soum.

The NPL ratio in state-owned banks remained stable at 4.6% (17.02 trillion soum), while private banks saw...

As of February 2025, the total loan portfolio of Uzbekistan’s banking sector increased by 1.1%, surpassing 540 trillion soum. The share of non-performing loans (NPL) remained at 4.5%, amounting to approximately 24.35 trillion soum.

The NPL ratio in state-owned banks remained stable at 4.6% (17.02 trillion soum), while private banks saw...

28.03.2025

Uzpromstroybank’s net profit reaches 1.3 trillion soum

Uzpromstroybank reported a net profit of 1.3 trillion soums for 2024, marking a 43% increase compared to the previous year’s 0.9 trillion soum.

The bank’s total revenue surged by 70.8%, reaching 18.9 trillion soum. Its assets grew by 17.4% to 87.6 trillion soum, while its capital increased by 14.9% to 10...

Uzpromstroybank reported a net profit of 1.3 trillion soums for 2024, marking a 43% increase compared to the previous year’s 0.9 trillion soum.

The bank’s total revenue surged by 70.8%, reaching 18.9 trillion soum. Its assets grew by 17.4% to 87.6 trillion soum, while its capital increased by 14.9% to 10...

28.03.2025

Uzbekistan and World Bank discuss public finance management reforms

On 25 March 2025, Deputy Minister of Economy and Finance of Uzbekistan, Ahadbek Khaydarov, held talks with a World Bank delegation led by Kai-Alexander Kaiser, Lead Governance Specialist.

The discussions focused on the technical support provided by the World Bank for implementing reforms outlined in the Public Finance Management System Improvement...

On 25 March 2025, Deputy Minister of Economy and Finance of Uzbekistan, Ahadbek Khaydarov, held talks with a World Bank delegation led by Kai-Alexander Kaiser, Lead Governance Specialist.

The discussions focused on the technical support provided by the World Bank for implementing reforms outlined in the Public Finance Management System Improvement...

28.03.2025

Uzbek soum declines slightly on Russian rouble revival

The Uzbek soum has weakened against the US dollar. As of 27 March 2025, the US dollar is trading at 12,900 soum. Over the past week, the soum’s exchange rate has declined by 0.11%. For the local currency, this movement is within the average range for the year. A week...

The Uzbek soum has weakened against the US dollar. As of 27 March 2025, the US dollar is trading at 12,900 soum. Over the past week, the soum’s exchange rate has declined by 0.11%. For the local currency, this movement is within the average range for the year. A week...

Energy Industry

28.03.2025

Uzbekgidroenergo increases electricity production and plans large-scale projects

Uzbekgidroenergo JSC has summarized its 2024 results and presented plans for further development of Uzbekistan’s hydropower sector.

At a press conference held at the Agency of Information and Mass Communications, the company’s management highlighted record-breaking performance, major investments, and ambitious projects for 2025.

In 2024, hydropower plants operated by Uzbekgidroenergo generated 8.2...

Uzbekgidroenergo JSC has summarized its 2024 results and presented plans for further development of Uzbekistan’s hydropower sector.

At a press conference held at the Agency of Information and Mass Communications, the company’s management highlighted record-breaking performance, major investments, and ambitious projects for 2025.

In 2024, hydropower plants operated by Uzbekgidroenergo generated 8.2...

Communications and Transportation

28.03.2025

Uzbekistan’s motorization rate reaches 58 cars per 100 households

In 2024, Uzbekistan recorded an average of 58 passenger cars per 100 households, according to household surveys conducted by the National Statistics Agency.

This figure reflects a steady upward trend in motorization across the country.

For comparison, the motorization rate stood at 49 cars per 100 households in 2020, 42 in 2015,...

In 2024, Uzbekistan recorded an average of 58 passenger cars per 100 households, according to household surveys conducted by the National Statistics Agency.

This figure reflects a steady upward trend in motorization across the country.

For comparison, the motorization rate stood at 49 cars per 100 households in 2020, 42 in 2015,...

28.03.2025

Uzbekistan Railways strengthens sanitary control on trains

Uzbekistan Railways has intensified control over the sanitary and hygienic conditions of trains following reports on social media regarding the poor quality of bed linen and the presence of insects in train carriages.

According to the company, sanitary and epidemiological inspections are conducted regularly. However, in response to recent concerns, additional...

Uzbekistan Railways has intensified control over the sanitary and hygienic conditions of trains following reports on social media regarding the poor quality of bed linen and the presence of insects in train carriages.

According to the company, sanitary and epidemiological inspections are conducted regularly. However, in response to recent concerns, additional...

Pharmaceutical and Healthcare News

28.03.2025

All pharmaceutical and medical service companies to become VAT payers

Starting April 1, 2025, all legal entities engaged in the sale of pharmaceutical products or the provision of medical services will be subject to VAT, regardless of their income level.

The tax authorities will automatically generate VAT reports based on online cash registers (Online-NKT), electronic invoices (EHF), and other internal and...

Starting April 1, 2025, all legal entities engaged in the sale of pharmaceutical products or the provision of medical services will be subject to VAT, regardless of their income level.

The tax authorities will automatically generate VAT reports based on online cash registers (Online-NKT), electronic invoices (EHF), and other internal and...

28.03.2025

About 400 Uzbek nurses employed in German medical institutions

Currently, 400 Uzbek nurses who have successfully passed qualification exams are working in medical institutions across Germany, according to the press service of Uzbekistan’s Ministry of Health.

The employment program for medical professionals abroad is being implemented under the Presidential Decree of 15 September 2020, on Measures to Introduce a System...

Currently, 400 Uzbek nurses who have successfully passed qualification exams are working in medical institutions across Germany, according to the press service of Uzbekistan’s Ministry of Health.

The employment program for medical professionals abroad is being implemented under the Presidential Decree of 15 September 2020, on Measures to Introduce a System...

Regional News

28.03.2025

Industrial optimism in Russia pushes from new bottom

In annual terms, industrial output did not actually grow in February (a formal increase of 0.2% versus an increase of 2.2% in January 2025), Rosstat reported. Mining decreased by 4.9%, energy by 3%, water supply and sanitation, waste disposal and pollution control by 1.8%. Only processing increased the output by...

In annual terms, industrial output did not actually grow in February (a formal increase of 0.2% versus an increase of 2.2% in January 2025), Rosstat reported. Mining decreased by 4.9%, energy by 3%, water supply and sanitation, waste disposal and pollution control by 1.8%. Only processing increased the output by...

28.03.2025

Russian market plunges down on signs of deteriorating investment climate

On Thursday, March 27, the Russian market showed a decline. Since the opening of the main session, the Moscow Exchange index has been losing about 1%, and by its close it was already about 2%. The arrest of the founder and main owner of RusAgro, the largest industry issuer, has...

On Thursday, March 27, the Russian market showed a decline. Since the opening of the main session, the Moscow Exchange index has been losing about 1%, and by its close it was already about 2%. The arrest of the founder and main owner of RusAgro, the largest industry issuer, has...

28.03.2025

Investments of non-residents in OFZs of Russia increase by 0.7% in February

The volume of investments of non-residents in OFZ in February 2025 increased by 6 billion rouble, or 0.7%, to 922 billion rouble, according to the website of the Central Bank of Russia.

The volume of the OFZ market in February increased by 690 billion rouble, or 3.0%, to 23 trillion 391...

The volume of investments of non-residents in OFZ in February 2025 increased by 6 billion rouble, or 0.7%, to 922 billion rouble, according to the website of the Central Bank of Russia.

The volume of the OFZ market in February increased by 690 billion rouble, or 3.0%, to 23 trillion 391...

28.03.2025

Russia makes decision on indexation of prices for fertilizers by end of May

The Russian authorities will make a decision by the end of May on the issue of indexation of prices for mineral fertilizers for the domestic market, Vitaly Korolev, Deputy head of the Federal Antimonopoly Service (FAS) of Russia, told reporters.

"Special conditions are currently in effect until May 31 of this...

The Russian authorities will make a decision by the end of May on the issue of indexation of prices for mineral fertilizers for the domestic market, Vitaly Korolev, Deputy head of the Federal Antimonopoly Service (FAS) of Russia, told reporters.

"Special conditions are currently in effect until May 31 of this...

28.03.2025

Forecast of cargo flow along Northern Sea Route: from 70 to 109 million tonnes by 2030

The forecast of cargo traffic along the Northern Sea Route (NSR) by 2030 has several scenarios, ranging from 70 million to 109 million tonnes, Oleg Chekunkov, head of the Ministry of Regional Development, said in an interview with Rossiya 24 TV channel.

Answering the question, what could be the volume of...

The forecast of cargo traffic along the Northern Sea Route (NSR) by 2030 has several scenarios, ranging from 70 million to 109 million tonnes, Oleg Chekunkov, head of the Ministry of Regional Development, said in an interview with Rossiya 24 TV channel.

Answering the question, what could be the volume of...

28.03.2025

Russia assesses effectiveness of measures to support movement towards techno-sovereignty

The Accounting Chamber presented the first report on the state of state support for the technology sector. The state auditors concluded that data on support measures are scattered, businesses are not well informed about them, and regulatory deficiencies and low budget provision in the regions are hindering the receipt of...

The Accounting Chamber presented the first report on the state of state support for the technology sector. The state auditors concluded that data on support measures are scattered, businesses are not well informed about them, and regulatory deficiencies and low budget provision in the regions are hindering the receipt of...

28.03.2025

Investments by foreign companies increase efficiency of innovation in China

In the wake of China's high-level openness, foreign companies are taking advantage of the world's second largest economy and participating in its innovative development to achieve mutually beneficial cooperation.

The headquarters of Takeda R&D in China and the Asia-Pacific region, located in Shanghai, ensures the simultaneous global development and submission of...

In the wake of China's high-level openness, foreign companies are taking advantage of the world's second largest economy and participating in its innovative development to achieve mutually beneficial cooperation.

The headquarters of Takeda R&D in China and the Asia-Pacific region, located in Shanghai, ensures the simultaneous global development and submission of...

28.03.2025

Trading on Chinese stock exchanges ends with increase in quotations

Trading on Chinese stock exchanges ended today with an increase in quotations. The Shanghai Composite index, reflecting the situation on the Shanghai Stock Exchange, increased by 0.15 percent. compared to the results of the previous trading day, it amounted to 3,373.75 points.

The Shenzhen component indicator, which is an indicator of...

Trading on Chinese stock exchanges ended today with an increase in quotations. The Shanghai Composite index, reflecting the situation on the Shanghai Stock Exchange, increased by 0.15 percent. compared to the results of the previous trading day, it amounted to 3,373.75 points.

The Shenzhen component indicator, which is an indicator of...

28.03.2025

Profits of large industrial enterprises in China decrease by 0.3 percent in January-February 2025

According to the results of the first two months of this year, the total profit of large industrial enterprises in China fell by 0.3 percent. on an annual basis, according to data released on Thursday by the State Statistical Office of China.

During the same period, the total profit of Chinese...

According to the results of the first two months of this year, the total profit of large industrial enterprises in China fell by 0.3 percent. on an annual basis, according to data released on Thursday by the State Statistical Office of China.

During the same period, the total profit of Chinese...