Uzbekistan Update: January 1 - 15, 2026
Biweekly update on key developments in Uzbekistan
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 NOTABLE 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
February 10-12, 2026 27th Uzbekistan International Construction Exhibition - UzBuild 2026
UzBuild 2026 Kicks Off the Spring Exhibition Season at its Traditional Venue
Every year UzBuild brings together those who design, build, supply and make decisions. Join the region’s three premier construction events and become part of the international community that is driving the industry forward:
27th Uzbekistan International Construction Exhibition - UzBuild 2026
International Conference of Construction Industry – ICCI 2026
Specialised section «Building Equipment and Technologies - BuildTech 2026
GITEX Central Asia & Caucasus 2026
We’re proud to announce that the EUROUZ will serve as an Ecosystem Partner of GITEX AI Central Asia & Caucasus 2026. The event will unite leading tech innovators, investors, and policymakers shaping the future of digital transformation across Central Asia and the Caucasus. From AI and fintech to green technologies, GITEX AI Central Asia & Caucasus is set to become the region’s most influential platform for innovation and collaboration
Book Your SpaceIteca Exhibitions – 2025: How the Exhibition Year Impacted Uzbekistan’s Economy
In 2025, Iteca Exhibitions marked 30 years of driving the development of Uzbekistan’s exhibition industry and its wider economic impact. Since 1995, the company has evolved into the country’s leading exhibition organiser, connecting local businesses with international markets and introducing global industry standards. In 2025 alone, the company delivered 20 international exhibitions, 4 flagship forums and 36 seminars, facilitating thousands of business meetings, partnerships and investment opportunities, and welcoming over 100,000 visitors from 75 countries.
Discover how exhibitions are driving Uzbekistan’s economy and business growth.
EUROUZ & MEMBER NEWS
EUROUZ together with KPMG Uzbekistan held the Banking, Regulation & Economic Affairs Committee Seminar “Amendments to the Tax Legislation of Uzbekistan”
The seminar brought together representatives of regulators, financial institutions, and EUROUZ member companies to discuss Uzbekistan’s evolving tax and regulatory framework. Opening remarks by EUROUZ Secretary General Atabek Alimdjanov and Board Member Oybek Shaykhov emphasized the value of structured dialogue during ongoing economic and legislative reforms. The expert programme, led by KPMG Uzbekistan specialists, covered tax amendments, incentives, compliance, and transfer pricing. The event reaffirmed EUROUZ’s and KPMG Uzbekistan’s commitment to transparency, investor confidence, and sustainable economic development.
Event Photos \ Press ReleaseEUROUZ welcomes a New Member - Paynet
Founded in 2005 and headquartered in Tashkent, Paynet is one of the leading fintech companies in Uzbekistan. The company provides payment and digital financial services to individuals, entrepreneurs, and businesses, offering convenient and reliable solutions for everyday financial operations. Paynet operates an extensive nationwide payment infrastructure and ecosystem of services, including mobile applications and B2B solutions. The company cooperates with banks, government institutions, and private organizations and actively supports small and medium-sized enterprises
EUROUZ welcomes a New Member - Farovon Khiva
Established in 2021 and located in the historic city of Khiva, Farovon Khiva is the only nationally branded five-star hotel in Uzbekistan. Operated by LLC “Khiva Plaza,” the hotel combines international hospitality standards with authentic Uzbek cultural heritage, offering a distinctive experience for business and leisure travellers alike. The hotel features 106 rooms across multiple categories, including Standard, Deluxe, Suite, Executive Suite, and Presidential Suite. Farovon Khiva offers refined dining and leisure through its Khiva and Milan restaurants, Istanbul Bar, as well as a swimming pool, sauna, and fully equipped fitness centre. The hotel is also a leading venue for MICE services, hosting international conferences, corporate events, and official delegations. In 2024, Farovon Khiva was recognised as the “Best Business Hotel in the Region” at the IV National Hospitality Award. In 2025, the hotel welcomed nearly 19,000 guests and employs more than 140 professionals, actively contributing to sustainable development and international cooperation.
EUROUZ welcomes a New Member - ADM Jizzakh
Established in 2014 and headquartered in Tashkent, ADM Global operates in the automotive manufacturing sector, specialising in the assembly and production of passenger vehicles. The company launched its SKD production facility in the Jizzakh region in 2021 and commissioned a CKD plant in 2024, significantly expanding its production capabilities. ADM Global supplies the domestic market of Uzbekistan and exports vehicles to the Kyrgyz Republic. With a workforce of approximately 5,000 employees, the company’s annual production capacity reaches up to 60,000 vehicles at the SKD facility and up to 100,000 vehicles at the CKD plant. ADM Global continues to focus on expanding production, increasing localisation, and strengthening its role in the regional automotive industry.
EBRD Term Sheet Signed for Asakabank Privatization
On December 31, 2025, the Ministry of Economy and Finance of Uzbekistan, Asakabank and the European Bank for Reconstruction and Development signed a commercial term sheet outlining key conditions for the bank’s privatization. Under the agreement, the EBRD is expected to acquire a 15 % equity stake in Asakabank, subject to regulatory and transactional requirements. The deal aims to improve corporate governance, risk management, and operational resilience at the bank.EBRD Arranges $195.5 M Renewable Energy Financing in Uzbekistan
The European Bank for Reconstruction and Development announced it is arranging a financing package of up to $195.5 million to support a 300 MW solar photovoltaic plant and a 75 MWh battery storage facility in Uzbekistan’s Kashkadarya region. The package, comprising an EBRD senior loan, guaranteed facilities and concessional finance from Canada and Finland, will be provided to Nur Kashkadarya Solar, a Masdar-owned project company. The project is expected to generate about 664 GWh annually, support the national grid’s reliability and cut carbon emissions by up to 400,000 tons per year.
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«Uzbekistan is entering a new phase in the modernization of its capital markets — and 2026 may become a defining year» — Franklin Templeton
1. INTERNATIONAL COOPERATION
1.1 EUROPE
Uzbekistan Targets Poland Corridor to Halve Europe Logistics Costs
President Shavkat Mirziyoyev convened a January 15, 2026, videoconference in Tashkent to boost export logistics amid doubled freight costs to Europe from geopolitical tensions. Officials received orders to negotiate a dedicated cargo lane at the Brest border post with Poland, Europe’s key gateway, and launch rail services from Tashkent to Poland or Lithuania. Current truck hauls to Germany or Netherlands cost $7,000-$9,000 per load—versus $100 for Turkish rivals—driving up product costs by $300-500 per ton. Measures also cover Romania, mandating a trade house in Constanta and doubling exports in 2026. These steps enhance competitiveness for fruit, vegetable, and textile exporters facing hurdles via Russia, Iran, and Turkmenistan.
Uzbekistan Grows Europe Exports 23% to $2.3 Billion in 2025
Exports to Europe surged 23% to $2.3 billion last year, announced during Mirziyoyev’s January 15, 2026, foreign affairs review meeting. Ambassadors face pressure to accelerate product promotion, with France prioritizing chemical fertilizers from Fergana, Navoi, Kashkadarya, and Tashkent regions. Diplomats must relay French standards, arrange executive meetings, and craft a program targeting Europe’s advanced agricultural markets. This builds on 2025’s $33.5 billion total exports and $80 billion trade turnover. Momentum underscores Uzbekistan’s multi-vector pivot to EU markets for diversification
1.2 CENTRAL ASIA, CAUCASUS & CIS
Uzbekistan And Tajikistan Discuss Transport and Transit Cooperation
Officials from the transport ministries of Uzbekistan and Tajikistan met in Samarkand to review bilateral cooperation in road transport and transit. The sides discussed increasing throughput capacity at the Djartepa (Uzbekistan) – Sarazm (Tajikistan) border checkpoint and digitizing international road transport permit forms. They also considered raising the number of permit forms and launching pilot shipments along the multimodal China–Tajikistan–Uzbekistan transport corridor. The meeting defined future tasks and measures to enhance cross-border transport efficiency and support regional trade flows
1.3 RUSSIA & CHINA
Russia-Uzbekistan Trade Surges 20%, Eyes EAEU Entry for Logistics Boost
Russia’s trade rep Konstantin Zlygostev highlighted steady bilateral growth at a Sputnik Uzbekistan press conference, despite global headwinds. Trade volume rose around 20% over 3-5 years, shifting to industrial parks—like Bashkortostan’s in Bekabad and technoparks in Bukhara-Navoi—and cybersecurity for Uzbekistan’s IT. Logistics priorities include multimodal transport, digital customs, North-South corridor via Kazakhstan, and trans-Afghan routes. EAEU accession would unlock a 180-million-person market, slash tariffs, unify standards, and streamline Uzbek goods through Kazakhstan-Kyrgyzstan borders. These steps cement Russia’s role in Uzbekistan’s multi-vector diversification
