Uzbekistan Update: October 1 - 15, 2025
Biweekly update on key developments in Uzbekistan

Section with the most news for October 1 - 15 as of Uzbek Review:
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
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
October 23, 2025 Uzbekistan Economic Days in Europe - The Flagship Event of the Year
This flagship gathering forms an essential part of the broader private sector engagement within the expanding bilateral and multilateral contacts between Uzbekistan and the European private sector. Taking place on the eve of the official visit of the President of Uzbekistan to Brussels on October 24, the event underscores the growing strategic importance of Uzbekistan–EU economic relations.
Register | Sponsorship opportunities
October 20, 2025 Annual Fintech & Banking Forum
Join for a day of cutting-edge insights and expert discussions on the latest fintech trends. Hear from industry leaders and keynote speakers as they share practical cases and knowledge on:
- Artificial Intelligence (AI)
- Buy Now, Pay Later (BNPL)
- Open API
- Fraud prevention & Cybersecurity and much more
Registration is required via the link
For sponsorship opportunities, please contact at contact@fintechassociation.com
October 22-24, 2025 Ethics, Risk & Compliance Management
Gain practical knowledge, templates, and ready-made solutions from trainers with global experience. Choose from two modules: Foundations of Compliance (22 Oct) or a Full 3-day Compliance Program (22–24 Oct).
A 10% discount will be extended to all EUROUZ members who register for this training.
Register to attend
October 28-30, 2025 MiningMetals Uzbekistan 2025
Everything That Drives the Mining and Metallurgy Industry — Late October in Tashkent!
Two meaningful events in one venue:
MiningMetals Uzbekistan 2025 — exhibition of machinery, equipment, and technologies for the mining, metallurgical, and metalworking industries.
Uzbekistan International Mining & Metals Forum - UIMF— a professional platform on metallurgy development, investments, raw material base, and the industry’s future.
Exhibition participation | Forum registration
November 12, 2025 44th Meeting of the Berlin Eurasian Club
This year, the Berlin Eurasian Club meeting will focus on the topic of “Middle Corridor and Global Gateway.” The Middle Corridor, an important trade route, is becoming increasingly strategic. Kazakhstan plays a central role in this transcontinental connection and offers a solid and efficient transit hub. The growing partnership with the European Union and Germany, characterized by increased investment and cooperation in the areas of transport and green energy, underscores Kazakhstan’s central position in improving connectivity and economic relations between East and West.
Please register by November 7, 2025, using the code BEK1025
November 13, 2025 Banks of the Future Conference
EUROUZ in partnership with ASEE Group, PLATMA and UZCARD is pleased to announce the upcoming Banks of the Future Conference — a premier platform to explore how technology, innovation, and digital ecosystems are transforming the banking sector in Uzbekistan and beyond.
Register to attend
November 18, 2025 Expanding Horizons: Practical Insights for Business Growth in the CIS
Join industry experts to explore current market trends, risks and opportunities. The program will offer a special focus on Central Asia alongside broader perspectives on the CIS region, tailored for Austrian companies.
18 November | 09:00-13:00 (CET) | Vienna
Register to attend
November 29 - December 1, 2025 Swiss Days in Uzbekistan 2025
Swiss and Lichtenstein SMEs exploring opportunities in Uzbekistan and in Central Asia are invited to join in driving Swiss innovation into the heart of Uzbekistan — a fast-emerging market with immense untapped potential.
The events of Swiss Days in Uzbekistan will potentially help the participating companies in positioning and strengthening visibility in highly competitive market.
Register (Swiss & Lichtenstein businesses only). A registration for international companies and for Uzbekistan companies will be separately organized by EUROUZ.
EUROUZ & MEMBER NEWS
EUROUZ Member, Rothschild & Co Discusses Investment Cooperation with Saida Mirziyoyeva in London
Head of the Presidential Administration of Uzbekistan Saida Mirziyoyeva met in London with Baroness Arielle Malard de Rothschild, member of the Supervisory Board of Rothschild & Co. The meeting highlighted opportunities for cooperation in finance, investment, and sustainable development. Baroness de Rothschild—an influential financier and advocate for gender diversity in the financial sector—is also the co-founder of Financi’Elles and a board member of CARE International.
EUROUZ Member, BMCA Uzbekistan Hosts Heimtextil, Texworld, and Apparel Sourcing Tashkent 2025
On 14 October 2025, Heimtextil Uzbekistan, Texworld Tashkent, and Apparel Sourcing Tashkent 2025 officially opened at the UzExpoCentre in Tashkent, bringing together over 250 companies from six countries across 8,000 m² of exhibition space. Organized by BMCA Uzbekistan under the auspices of Messe Frankfurt, the three exhibitions serve as Central Asia’s premier platform for the textile and apparel industry, attracting more than 1,400 professional visitors and buyers from over 15 countries. The event features an SME Pavilion showcasing local producers, a Trend Zone focused on sustainable and innovative materials, and a rich business program dedicated to digitalization, exports, and women’s leadership — reinforcing Uzbekistan’s growing role as a regional hub for textile cooperation and global sourcing.
EUROUZ Member, Ipoteka Bank OTP Group Issues Landmark Dual-Currency Eurobond Worth USD 400 Million
Ipoteka Bank OTP Group has successfully priced its inaugural dual-currency Eurobond — the first-ever public issuance by a private Uzbek bank. The offering includes USD 300 million in 5-year and the UZS equivalent of USD 100 million in 3-year senior unsecured notes, both rated BB by Fitch. The transaction achieved record demand, with 2.8× oversubscription for the USD tranche and 3.4× for the UZS tranche — the highest for any som-denominated international issue. Arranged by J.P. Morgan, Citi, Société Générale, and OTP Bank, the Eurobond represents Uzbekistan’s lowest borrowing cost since 2023 and reinforces investor confidence in the country’s reform momentum. Proceeds will support retail, MSME, and corporate lending, strengthening Ipoteka Bank’s position as a leading private financial institution in Central Asia.
EUROUZ welcomes new member – SETTLE
SETTLE LEGAL was established in 2020 in Tashkent, Uzbekistan, by a team of experienced lawyers specializing in intellectual property (IP) protection. The firm provides legal services in trademarks, patents, copyrights, and technology law, helping local and international clients protect and commercialize their IP assets.
EUROUZ welcomes new member - GCF Eurasia
GCF Eurasia, founded in August 2023 and headquartered in Almaty, Kazakhstan, is a sustainability advisory firm providing consulting services in ESG strategy development, climate risk assessment, non-financial reporting, and investor relations. The company supports businesses and financial institutions across Central Asia in aligning with global sustainability standards, including the ISSB, GRI, and CSRD.
EUROUZ welcomes new member - GK&P
GK&P is an independent investment banking and business advisory firm based in Uzbekistan and France. The firm helps clients navigate complex strategic and financial decisions across Central Asia and beyond. The firm’s expertise includes M&A, debt and equity financing, corporate finance, due diligence, strategy, business transformation and operations, as well as other specialised advisory services.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Saida Mirziyoyeva Explores New Avenues of Cooperation with EU Commissioner in Brussels
Head of the Presidential Administration of Uzbekistan Saida Mirziyoyeva met with EU Commissioner for International Partnerships Josef Síkela in Brussels to discuss expanding Uzbekistan–EU collaboration. The talks highlighted growing engagement across political, economic, and cultural–humanitarian spheres, with both sides reaffirming their commitment to deepening ties and launching new joint initiatives. Mirziyoyeva emphasized the shared intent to “fully harness the emerging opportunities for cooperation, including across Central Asia.”
Saida Mirziyoyeva Meets European Commission Vice President Kaja Kallas
Head of the Presidential Administration of Uzbekistan Saida Mirziyoyeva held talks in Brussels with Kaja Kallas, Vice President of the European Commission and EU High Representative for Foreign Affairs and Security Policy. The discussion focused on global and regional developments, with particular attention to Central Asia and the strengthening of Uzbekistan–EU dialogue amid complex geopolitical dynamics. Mirziyoyeva expressed appreciation for the open and constructive exchange, noting her confidence in further expanding the partnership between Uzbekistan and the European Union.
Nodir Ganiev Becomes Uzbekistan’s First Ambassador to Monaco
On October 7, Nodir Ganiev presented his credentials to Prince Albert II as the first Ambassador Extraordinary and Plenipotentiary of Uzbekistan to the Principality of Monaco, with residence in Paris. During the meeting, Prince Albert II praised the reforms under President Shavkat Mirziyoyev and expressed strong interest in Uzbekistan’s green energy transition, particularly its goal to produce 54% of electricity from renewable sources by 2030.
Uzbekistan and Germany Discuss Financial and Technical Cooperation Ahead of 2026 Negotiations
Uzbekistan and Germany held intergovernmental consultations in Tashkent to review and expand bilateral cooperation ahead of the 2026 negotiations. Co-chaired by Deputy Minister Shokhrukh Gulyamov and BMZ representative Karolina Probst, the meeting reaffirmed the strategic partnership between the two countries. The joint project portfolio with KfW now includes 33 initiatives worth €3.8 billion, while GIZ continues to support reforms in governance, education, and climate adaptation. Both sides agreed to streamline project approval procedures and focus on priority areas such as green energy, healthcare, social protection, and sustainable development.
1.2 CENTRAL ASIA, CAUCASUS & CIS
Uzbekistan Strengthens Role in Shaping New Eurasian Cooperation Framework
At the Central Asia–Russia Summit in Dushanbe, Uzbekistan reaffirmed its leadership in advancing regional integration. President Shavkat Mirziyoyev proposed practical steps to enhance connectivity and cooperation, including a Coordination Council, a 2027 roadmap, and new logistics corridors. Key initiatives also include the creation of an industrial hub in Bukhara and regional centers for nuclear energy and artificial intelligence — reinforcing Uzbekistan’s position as a key architect of Eurasia’s emerging cooperation system.
President Mirziyoyev Proposes Industrial Alliance and Green Corridors Among Turkic States
At the Organization of Turkic States (OTS) Summit in Gabala, President Shavkat Mirziyoyev outlined a comprehensive vision to deepen political, economic, and cultural integration across the Turkic world. He proposed establishing a Permanent Council on Economic Partnership with a project office in Tashkent, creating an industrial alliance and “Turkic Green Corridors” system to boost sustainable trade. Uzbekistan also suggested launching the Green Transformation Consortium, a joint AI and creative economy roadmap, and the International University of Turkic States. The initiatives aim to strengthen regional unity, promote innovation, and expand cooperation in energy, logistics, and cultural exchange.
Uzbekistan Secures License to Develop Hydrocarbon Fields in Afghanistan
Uzbekistan has obtained a license from Afghanistan’s interim government to explore and extract hydrocarbons on Afghan territory, marking a new stage in bilateral energy cooperation. The first phase focuses on the development of the Tuti-Maidan gas field under a 25-year agreement signed with Uzbekistan’s Eriell KAM company. According to Energy Minister Jurabek Mirzamakhmudov, the project is expected to expand to additional sites and foster mutual economic benefits. He emphasized that stability and infrastructure growth in Afghanistan could open Uzbekistan’s shortest route to the world ocean, enhancing regional connectivity and trade. Ongoing joint projects, including $250 million in new power infrastructure, underline the deepening Uzbek-Afghan partnership in the energy sector.
Uzbekistan and Azerbaijan to Co-Host FIFA U-20 World Cup 2027
FIFA has announced that Uzbekistan and Azerbaijan will jointly host the FIFA U-20 World Cup in 2027 — marking the first time the tournament will be held across two different football confederations. The decision reflects both nations’ growing stature in global football and Uzbekistan’s successful record in organizing major international events, including the FIFA Futsal World Cup 2024. The Uzbekistan Football Association noted the country’s readiness to deliver a world-class tournament showcasing its hospitality, professionalism, and passionate fan base. The joint bid follows President Shavkat Mirziyoyev’s proposal during his visit to Azerbaijan earlier this year.
TEXNOPARK Enters European Market with First Elevator Export to Estonia
TEXNOPARK has successfully entered the European market after signing its first export contract with Ecomingrad of Estonia for the supply of Uzbek-made elevators. This milestone follows TEXNOPARK’s achievement of the CE certification, confirming compliance with EU safety and quality standards. The company’s products impressed European partners with their energy efficiency, modern design, and reliability. TEXNOPARK plans to strengthen its European presence by opening an official showroom in Lithuania together with Akfa Build, showcasing innovative elevator technologies and expanding cooperation across Europe.
1.3 RUSSIA & CHINA
Uzbekistan and Russia Hold Talks on Strengthening Interparliamentary Cooperation
On 15 October 2025, a delegation of the Senate of Uzbekistan, led by First Deputy Chairman Sodik Safoyev, visited Kazan to participate in the 10th meeting of the Cooperation Commission between Uzbekistan’s Senate and Russia’s Federation Council. Discussions focused on expanding interparliamentary cooperation and boosting collaboration in trade, education, agriculture, tourism, and cultural exchange. The Uzbek delegation also met members of the Federation Council and the State Committee of Tatarstan on Tourism, gaining insight into the region’s technological development and investment potential.
President Mirziyoyev Outlines Priorities for Strengthening Central Asia–Russia Cooperation
At the Second Central Asia–Russia Summit in Dushanbe, President Shavkat Mirziyoyev presented a comprehensive vision for expanding regional partnership across political, economic, and technological spheres. He proposed establishing a Coordinating Council of Deputy Prime Ministers, adopting a detailed 2027 roadmap, and launching new trade and transport initiatives such as the Agroexpress Central Asia–Russia project and the North–South Corridor.
Russia Boosts Gas Supplies to Uzbekistan, Kazakhstan, and Kyrgyzstan by 15%
Russia has increased its natural gas exports to Uzbekistan, Kazakhstan, and Kyrgyzstan by 15% since the beginning of 2025, Gazprom CEO Alexey Miller announced at the St. Petersburg International Gas Forum. He noted that the Power of Siberia-2 pipeline to China will serve as a key driver for expanding energy cooperation with Central Asia. Miller projected that the combined GDP of the three economies could grow by 60% within the next five to six years, increasing regional energy demand. Despite fluctuations in import volumes, Uzbekistan’s monthly gas purchases from Russia have remained above $100 million since April, reflecting sustained energy ties between Moscow and Tashkent.
Uzbekistan and China Discuss Establishing Investment Alliance and Joint Ventures Support Center
Deputy Minister of Investments, Industry, and Trade Ilzat Kasimov met with Liu Yu, Chairman of the Association of Chinese Entrepreneurs in Uzbekistan, to discuss new cooperation mechanisms between the two countries. The talks focused on establishing a Comprehensive Support Center for Uzbek–Chinese Joint Ventures, creating a Center for Investment Attraction in Industrial Parks, organizing investment roadshows in China, and forming a Uzbek–Chinese Investment Alliance. The initiatives aim to enhance industrial collaboration, attract foreign direct investment, and accelerate the transfer of advanced technologies to Uzbekistan’s key production sectors.
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