Uzbekistan Update: April 15 - 30, 2025
Biweekly update on key developments in Uzbekistan
Notable Quotes
“I believe our relationship has not yet reached its full potential. Our partnership is a journey, not a destination. This summit marks the start of a new dimension in our relations, and it will not be a one-off” President of the European Council, António Costa
Table of contents of this Uzbek.Review report for paid subscribers & members:
1. INTERNATIONAL COOPERATION
1.1 EUROPE
1.2 CENTRAL ASIA, CAUCASUS & CIS
1.3 RUSSIA & CHINA
1.4 ASIA, EAST ASIA & SOUTH-EAST ASIA
1.5 MIDDLE EAST
1.6 NORTH & SOUTH AMERICA
1.7 INTERNATIONAL ORGANIZATIONS
2. PUBLIC POLICY
3. LEGISLATION & GOVERNMENT
3.1 LEGISLATIVE CHANGES
3.2 APPOINTMENTS
4. ECONOMY
4.1 KEY ECONOMIC INDICATORS, LOANS, & PUBLIC FINANCE
4.2 IFI’s, BAKNING & FINANCE
4.3 AGRICULTURE, MINING, & MANUFACTURING
4.4 CONSTRUCTION & REAL ESTATE
4.5 TRADE AND BUSINESS
4.6 ENERGY & PETROCHEMICALS
5. USEFUL LINKS AND NOTABLE PUBLICATIONS
UPCOMING EUROUZ & MEMBER EVENTS
2 - EUROUZ Annual General Meeting 2025
We are pleased to invite EUROUZ members to the Annual General Meeting 2025 that will take place on June 12, 2025. This important gathering will bring together our members to review our achievements, discuss future priorities, and strengthen our collective efforts to enhance European-Uzbek business cooperation.
Date: June 12, 2025
Time: 8:45 AM – 12:00 PM (UZT)
Venue: Hilton Tashkent (at TIIF location)
Format: Hybrid
Register here
For EUROUZ members only
3 - Tashkent International Investment Forum June 10 - 12, 2025
The Tashkent International Investment Forum is an internationally recognised space that platforms the high-growth potential of Uzbekistan and other Central Asian markets. Uzbekistan stands at an important moment in its history. With foreign direct investment in a fast-growing country, it is targeting further dynamic growth and development. As it continues to pursue an ambitious reform and economic modernisation program, the Government recognises the vital role that foreign investment plays in driving sustainable progress. EUROUZ is proud to partner with the forum for the fourth year. The updated forum programme will be on the TIIF website today.
4 - May 14 - 15, 2025 TextileExpo Uzbekistan 2025
The event demonstrates achievements and innovations of textile business and fashion industry from world’s top manufacturers along the entire production chain – from yarn to ready-made clothes. Over the years, the exhibition has evolved into the most anticipated and significant event in the industry of the region for professionals and enthusiasts alike, turning into an effective platform for promoting technologies, products, and know-how.
Register and get your online badge here.
EUROUZ & MEMBER NEWS
EUROUZ Held Healthcare and Life Sciences Committee Round Table
EUROUZ thanks all members and partners who participated in today’s semi-annual Round Table of the Healthcare and Life Sciences Committee in Tashkent. The event brought together over 40 representatives from member companies and key institutions, including the Ministry of Health, Pharmaceutical Development Agency, Project Office for Healthcare Development, Customs and Tax Committees, State Medical Insurance Fund, and the Center for Pharmaceutical Products Safety. Representatives from the EU Delegation and the Embassies of Switzerland and France also attended. Participants agreed to establish a permanent interagency working group with relevant authorities to support healthcare, pharmaceutical, and insurance system reforms through European expertise.
To find out more or join the work of EUROUZ Committees, please check out our website section here.
EUROUZ Held Open Expert Seminar
EUROUZ Public Relations and Strategic Communications Committee hosted a hybrid expert seminar with over 70 participants from Europe and Uzbekistan, featuring two panels on financial communication, institutional reform, and audience engagement. The event brought together professionals from financial institutions, development organizations, global companies, and the public sector, fostering practical exchange and collaboration. EUROUZ thanks all speakers and moderators for their valuable contributions to advancing communication standards in the region.
Press release: link
Discover images from the event: link
To find out more or join the work of EUROUZ Committees, please check out our website section here.
EUROUZ Member International Beverages Tashkent to Launch Burger King in Uzbekistan
International Beverages Tashkent, a EUROUZ member, will open the first Burger King restaurants in Uzbekistan within the coming months. The launch will start in Tashkent, with plans for expansion across the country. This marks a major milestone in the international fast-food brand’s entry into Uzbekistan and reflects the country’s growing appeal for global consumer franchises.
EUROUZ Member ACWA Power’s $15B Uzbekistan Portfolio Expands with 1 GW Wind Farm Launch
EUROUZ member ACWA Power has deepened its strategic engagement in Uzbekistan, with its total investment portfolio now reaching $15 billion. The company recently launched commercial operations of two wind farms in the Bukhara region—the Bash and Dzhankeldy projects—delivering a combined 1 GW capacity nearly two months ahead of schedule. These projects, co-financed by the EBRD and the Asian Development Bank, reflect growing Saudi-Uzbek ties in green energy. President Mirziyoyev commended ACWA Power’s leadership in renewable development, which also includes major solar projects and energy infrastructure upgrades. Both sides plan to further collaboration ahead of the upcoming Intergovernmental Commission and business forum in Samarkand.
EUROUZ Member Asakabank Secures $300M Syndicated Loan
Uzbekistan's Asakabank finalized a $300 million equivalent senior unsecured dual-currency term loan facility. Initially launched at $100 million, the facility was oversubscribed by 3.5 times, attracting commitments from 22 international financial institutions. Abu Dhabi Commercial Bank PJSC and Emirates NBD Capital Limited acted as Coordinators, Initial Mandated Lead Arrangers, and Bookrunners. The proceeds will be used for general corporate purposes, highlighting growing international confidence in Uzbekistan's financial sector.
EUROUZ Member Voltalia, EBRD and Urgench State University Launch Green Energy Training Program
Voltalia, the EBRD, and Urgench State University signed an MoU to launch a nationally accredited renewable energy training program for Bachelor’s and Master’s students in Uzbekistan. Supported by the French Embassy and designed with expertise from KPMG Uzbekistan, the program aims to address industry skill gaps. The EBRD will provide financial support to ensure implementation. The program is set to launch in September 2025, advancing Uzbekistan’s green energy transition.
EUROUZ welcomes a new member – TotalEnergies Renewables Uzbekistan
TotalEnergies is a global multi-energy company producing and supplying oil, biofuels, natural gas, green gases, renewables, and electricity. As part of its goal to reach 100 GW of renewable capacity by 2030 and carbon neutrality by 2050, it is developing a competitive portfolio of renewable and flexible assets worldwide. The company entered Uzbekistan in 2019 through ex-Total Eren, which merged with TotalEnergies in 2023. Its local subsidiary, TotalEnergies Renewables Uzbekistan, operates the 131 MWp Tutly solar power plant in the Samarkand region, commissioned in July 2022.
EUROUZ welcomes new member - Unicase Central Asia
Unicase is a leading law firm founded in 2010 with headquarters in Almaty and offices in Astana and Tashkent. Known for its expertise in regulatory advisory and legislative development, the firm operates across Central Asia, including Kyrgyzstan and Turkmenistan. Its core focus areas include energy, corporate law, M&A, dispute resolution, and major development projects.
EUROUZ welcomes new member - ILF Consulting Engineers
ILF Consulting Engineers is a privately owned and independent consulting firm, established in 1967 with headquarters in Austria. The company delivers management consulting, project/program management, design and engineering services in infrastructure including resources, energy, water, transport, urban space. With decades of global project experience, ILF is recognized for expertise in complex projects and sustainable solutions. With local office and team in Tashkent, ILF supports public and private clients along the project life cycle with tailored solutions and back-up support from international competence centers of the ILF group.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
EU Allocates €2.9M to Strengthen Civil Society in Uzbekistan
On April 28, 2025, the EU Delegation to Uzbekistan announced five new projects supporting civil society with a total budget of €2.9 million. The initiatives target gender equality, human rights, legal education, and media literacy across several regions. Implementing partners include ACTED, ICJ, DVV International, CDMJ, and the Konrad Adenauer Foundation. The projects aim to build civil society capacity and foster cooperation with state institutions at all levels.
European Parliament Delegation Visit
On 14-16 April, the European Parliament Delegation for the relations with Central Asia paid a visit to Uzbekistan to hold the 18th bilateral Parliamentary Cooperation Committee. Following the recent first ever EU-Central Asia Summit in Samarkand, the EP delegation had meetings with both government representatives, independent civil society organizations and will also address university students. The Delegation also focused on the relations with Afghanistan, by visiting the border Uzbek city of Termez where it met the local authorities, the Director of one of the biggest cargo logistical centres in Central Asia, as well as Afghan refugees.
1.2 CENTRAL ASIA, CAUCASUS & CIS
National Leader of Turkmenistan pays an informal visit to Samarkand
President Shavkat Mirziyoyev of Uzbekistan met with Gurbanguly Berdimuhamedov, National Leader of the Turkmen people and Chairman of the Halk Maslahaty, during his informal visit to Samarkand on April 23-24. Both sides reaffirmed commitments to deepen strategic cooperation, particularly in trade, energy, and transport. The sides discussed growth in bilateral trade, which reached $1.2 billion in 2024 and set a shared goal of increasing the number to $2 billion in 2025. The visit focused on maintaining momentum in joint projects and strengthening coordination on regional infrastructure and water resource management. Gurbanguly Berdimuhamedov was awarded the “Order of Friendship of Uzbekistan – Highest Degree” (“Do‘stlik” ordenining oliy darajasi) during this vist. This is Uzbekistan’s highest state honor for foreign nationals, recognizing his contribution to strengthening bilateral relations and fostering strategic cooperation between Uzbekistan and Turkmenistan.
Central Asian Security Chiefs Convene in Samarkand to Address Regional Threats
On April 19, 2025, security council secretaries from Uzbekistan, Kazakhstan, Kyrgyzstan, and Tajikistan, along with Turkmenistan's military attaché, met in Samarkand to discuss regional security challenges. The agenda included counterterrorism, radicalization, transnational crime, and cooperation in ecological and transport security. The meeting, held under Uzbekistan's chairmanship, aimed to strengthen strategic partnerships and promote mutual trust among Central Asian states.
Uzbekistan and Kyrgyzstan Agree on Joint Use of Chashma Spring
Uzbekistan and Kyrgyzstan reached a preliminary agreement on the joint use of the Chashma spring, located along their shared border. The accord guarantees free and unrestricted access to the spring for Uzbek citizens and allocates two-thirds of the water resource to Uzbekistan. Both parties committed to preventing any actions that could hinder the spring's usage, marking a significant step in bilateral cooperation and regional resource management.
Tashkent Hosts First Central Asia–GCC Think Tank Forum
On April 21–22, 2025, the inaugural Central Asia–GCC Think Tank Forum was held in Tashkent to institutionalize interregional cooperation. The forum focused on economic diversification, infrastructure, and people-to-people ties, with proposals for joint academic programs and Gulf investments in industrial corridors. Experts advocated regular dialogue formats and the creation of a regional think tank network. The initiative marks a shift toward action-oriented, strategic partnerships between the two regions.
1.3 RUSSIA & CHINA
Uzbekistan and Rosatom Advance Modular Nuclear Plant Project
On April 28, 2025 President Shavkat Mirziyoyev met with Rosatom CEO Alexey Likhachev during the INNOPROM exhibition in Tashkent. Rosatom confirmed that all legal steps for constructing Uzbekistan’s first small modular nuclear power plant in Jizzakh have been finalized, with the first concrete scheduled for pouring within a year. The project will be based on Russian reactor technology but implemented through international cooperation. Further collaboration in nuclear medicine, agriculture, and education was also discussed.
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