| Economy

12 Trillion Soums in Violations: Trade and Food Service Lead Uzbekistan's Tax Risks

Economy

The Tax Committee of Uzbekistan has summarized the results of control measures over 11 months of 2025. According to the audit results of 3,305 business entities, violations amounting to a colossal 12.1 trillion soums have been confirmed, with almost two-thirds falling on the trade and public catering sector.

The EU refused to use Russian assets to finance Ukraine

Economy

EU leaders failed to agree on a financing scheme for Ukraine using frozen Russian assets. This was reported in a European Council press release.

China–Kyrgyzstan–Uzbekistan Railway Secures Financing

Economy

A financing agreement for the construction of the China–Kyrgyzstan–Uzbekistan railway has been signed in Bishkek. The document was concluded between the China–Kyrgyzstan–Uzbekistan Railway Company (a joint project company) and a syndicate of banks from the People’s Republic of China, according to the Kyrgyz Cabinet of Ministers.

Central Bank Eases Access to Bank Cards for Minors

Economy

Following social media reports about difficulties minors face when using bank cards, the Central Bank issued clarifications and announced that the issue will be resolved soon.

Bankers and IT Specialists Lead: Updated Income Data in Uzbekistan

Economy

Uzbekistan’s average monthly salary for January–September 2025 amounted to 6.167 million sums, according to data from the National Statistics Agency.

OTS developing unified online trade platform — Turktrade

Economy

The Organization of Turkic States (OTS) is developing Turktrade, a unified digital platform designed to connect logistics companies, manufacturers, and trading houses across the Turkic world. The initiative aims to simplify trade and speed up cargo transportation within the region.

Uzbekistan’s Foreign Trade Volume Reaches $37 Billion in Six Months

Economy

According to preliminary data from the National Statistics Committee, Uzbekistan’s foreign trade turnover amounted to $37 billion from January to June 2025 — an increase of $5.1 billion, or 16.1%, compared to the same period last year.

Bitcoin has set a new record

Economy

On July 14, 2025, Bitcoin surpassed $122,000 for the first time in history, showing rapid growth after months of relative stability. At the peak of trading, the exchange rate reached $122,604, increasing by 2.7% per day and 10.7% over the past week.

Uzbekistan presented initiatives for the digitalization of transport within the framework of the ECO

Uzbekistan

On June 3, 2025, the 13th meeting of transport ministers of the Economic Cooperation Organization (ECO) member states was held in Tehran, the capital of Iran, where issues of digitalization, transit, regional integration, and transport interconnectedness were discussed.

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.