| Economy

An Austria–Uzbekistan Joint Venture to Be Established in Vienna

Economy

To showcase the investment appeal of Jizzakh region, strengthen cooperation between international and local entrepreneurs, discuss new investment projects, and improve the business environment, the “International Business Forum – Jizzakh 2025” is taking place on April 23–24, 2025 in the Zomin district.

Wholesale Trade Turnover in Tashkent Reaches 34.5 Trillion Soums

Economy

In January–February 2025, the volume of wholesale trade turnover in Tashkent city amounted to 34.5 trillion soums. According to the National Statistics Agency, this represents a 10.4% increase compared to the same period last year.

Uzbekistan Takes Another Step Closer to WTO Membership

Economy

Uzbekistan’s negotiations for accession to the World Trade Organization (WTO) are progressing step by step. Recently, the country reached an agreement with the European Union on the services sector, completing a significant part of this process. This was officially announced by the President’s Special Representative on WTO Affairs, Azizbek Orunov.

Uzbekistan's foreign trade turnover amounted to $4.5 billion

Economy

In January 2025, Uzbekistan’s foreign trade turnover amounted to $4.5 billion, increasing by $297.2 million or 7.1% compared to January 2024.

Official Acceptance of Applications for Subsidies Has Begun

Economy

As part of the approved target indicators for mortgage loan subsidies, the opportunity to submit applications was made available today, March 3, from 09:00. This was reported by the Ministry of Economy and Finance.

Uzbek companies are under EU sanctions

Economy

The European Union Council has presented the 16th package of sanctions against Russia, which includes companies from third countries, including Uzbekistan, for the first time. A total of 53 organizations from various countries are on the sanctions list.

Uzbekistan Adopts a New Law on Bank Deposit Protection

Economy

On February 18, 2025, the Republic of Uzbekistan passed Law No. ORQ-1031, "On Guarantees for the Protection of Bank Deposits."

Salaries, pensions, and benefits will not increase in Uzbekistan

Economy

Reports have been circulating on social media about a 10% increase in salaries, pensions, and benefits starting from March 1 and August 1, 2025.

VTB Cancels Fees for Money Transfers to Uzbekistan

Economy

VTB customers no longer have to pay fees for money transfers to Uzbekistan. The bank is betting on increasing transaction volumes by opening a free financial corridor.

A record $34.8 billion has been disbursed in Uzbekistan over the past year

Economy

Foreign investment inflow into the Uzbek economy increased 1.6 times, reaching $34.8 billion in 2024. Hundreds of large and small projects are being implemented in the country, and exports are expanding with new markets and goods.

Record Broken: Uzbekistan’s Gold Reserves Surpass $35 Billion

Economy

As of February 1, the total value of assets in Uzbekistan’s reserves increased by $1.73 billion (4.2%) in one month, reaching $42.9 billion. Their volume is approaching record highs, according to the Central Bank.

China disputes Trump's new tariffs at the WTO

Economy

China has filed a complaint with the WTO against the US imposing 10% tariffs on Chinese imports and the cancellation of benefits for low-cost parcels. The Trump administration's decision caused shock among shippers, retailers, and postal services, threatening large-scale supply chain disruptions.

Kyrgyzstan Temporarily Bans Livestock Exports Due to Uzbekistan

Economy

The Veterinary Service under the Ministry of Water Resources, Agriculture, and Processing Industry of Kyrgyzstan has suspended the issuance of permits for the export of agricultural animals, including cattle, small livestock, and horses, starting from January 31. This was reported by the ministry’s press service.

Saida Mirziyoyeva Provided Information About the Process of Joining the World Trade Organization

Economy

President’s assistant Saida Mirziyoyeva stated that in 2024, significant steps were taken towards joining the WTO and listed the achievements. "This year, we will continue at the same pace to become a full member of the organization," she said.

Uzbekistanis Brought in the Most Currency from Russia

Economy

According to statistical data, In 2024, the volume of money transfers to Uzbekistan by individuals amounted to $14.8 billion, representing a 30% or $3.4 billion increase compared to 2023. The majority of the funds, 77%, came from Russia ($11.5 billion), reflecting a 29% growth. Kazakhstan, the USA, South Korea, Turkey, and the UK were also notable source countries for transfers.

"Uzbekistan Trade House" Opens in Dushanbe

Economy

A "Uzbekistan Trade House" specializing in construction materials has been opened in Dushanbe, the capital of Tajikistan. The purpose of establishing this new trade representative office is to increase the export of construction materials and strengthen trade ties between entrepreneurs of the two countries.

Central Bank Keeps Key Rate at 13.5%

Economy

On December 12, 2024, the Central Bank decided to keep the key rate at 13.5% annually. This decision is related to the ongoing high demand in the economy, the pressure on prices, and the elevated inflation expectations.

COP-29: UAE's Masdar to Build 1000 MW Wind Power Plant in Uzbekistan

Economy

At the COP-29 conference in Baku, Azerbaijan, Uzbekistan's Ministry of Energy signed an agreement with UAE's Masdar to build a 1000 MW wind power plant in the Uchquduq district of Navoi region.

Prime Ministers of Kazakhstan and Uzbekistan Discuss Trade and Economic Cooperation

Economy

At the IV Kazakhstan-Uzbekistan Interregional Forum held in Samarkand, the Prime Ministers of Kazakhstan, Olzhas Bektanov, and Uzbekistan, Abdulla Aripov, engaged in discussions focused on enhancing bilateral trade and economic cooperation.

Salary Growth Over the Year

Economy

According to the quarterly results, the average proposed salary reached 6.37 million sums, which is 16% higher than last year.