Uzbekistan Update: June 15 - 30, 2026
Biweekly update on key developments in Uzbekistan
Dear Member, you can read our: Special Edition - 5th Anniversary of the Tashkent International Investment Forum and EUROUZ’ European Evening Reception at TIIF & Annual General Meeting 2026
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
EUROUZ & MEMBER NEWS
EUROUZ EVENTS: The European Evening Reception at TIIF 2026
On 17 June 2026, EUROUZ successfully hosted the European Evening Reception, bringing together around 500 business leaders, investors, ambassadors, and representatives of international organizations, marking the largest side event of TIIF2026.
Organized in cooperation with the European Investment Bank (EIB), the reception once again served as one of the leading platforms for dialogue, fostering new partnerships, investment opportunities, and high-level engagement in Uzbekistan. The evening featured the official inauguration of the European Investment Bank Regional Representation for Central Asia, marking an important milestone in strengthening cooperation between Uzbekistan and the European Union.
The event featured addresses by Pierre-Paul Antheunissens, CEO of EDF Central Asia; Marek Mora, Vice-President of the European Investment Bank; The Rt Hon Lord Jason Stockwood, UK Minister of State for Investment; as well as representatives of the event’s sponsors, including Jean-Philippe Gillet, President of SES, and Djasur Djumaev, Founder and CEO of UZUM.
The reception reaffirmed the shared commitment of Uzbekistan and its European partners to promoting investment, economic modernization, regional connectivity, and sustainable growth.
A special thank you is extended to our valued sponsors and partners whose support made this event successful :
Gold Sponsors: Ipoteka Bank (OTP Group), SES, Uzum and European Investment Bank (EIB),
Silver Sponsors: Crowe, Paynet, Schneider Group, Veolia
Bronze Sponsors: Ahlers Logistics, BDO, Legalmax, NEO Insurance, Quorus, UET Construction
Event Partners: British Embassy in Uzbekistan, Kingdom of the Netherlands, AustriaAdvantage, Delegation of German Economy in Central Asia, BeneLux Chamber Branch in Uzbekistan, and CCI France Ouzbékistan (France–Uzbekistan Chamber of Commerce)
EUROUZ Annual General Meeting 2026
EUROUZ convened its 2026 Annual General Meeting an important milestone in the Association’s continued growth and its work to advance European–Uzbek economic cooperation. Secretary General Atabek Alimdjanov presented the Annual Report and financial overview, highlighting EUROUZ’s progress, expanding activities, and priorities for the year ahead. The Chairs of all EUROUZ Committees presented the results of their work and set out their plans for the next stage of engagement.
H.E. Toivo Klaar, EU Ambassador to Uzbekistan, addressed members and shared his perspective on strengthening cooperation with the European business community and deepening the EU’s economic engagement in Uzbekistan. The AGM also formally endorsed the results of the Board of Directors election, following the participation of more than 105 member companies reflecting the strong engagement and confidence of the EUROUZ membership.
We thank all our members for their continued trust, active participation, and commitment to shaping a stronger European business presence in Uzbekistan.
EUROUZ is pleased to announce the results of the Board of Directors Elections for the 2026–2028 term
Following the election process, EUROUZ members elected nine representatives to serve on the Association’s Board of Directors. The newly elected Board will officially assume office on 1 September 2026.
The elected Board Members are:
• Abdulkhamid Muminov (PwC)
• Andi Aranitasi (European Bank for Reconstruction and Development)
• Dan Marius-Vasile (Franklin Templeton)
• Ketevan Antidze (Commerzbank AG)
• Olivier Emmanuel Kueny (European Investment Bank)
• Oybek Shaykhov (East-West Group)
• Pierre-Paul Antheunissens (EDF Power Solutions)
• Vera Bell (Crowe Uzbekistan)
• Zafar F. Vakhidov (Vakhidov & Partners)
We look forward to the engagement, leadership, and strategic guidance of the newly elected Board as it begins its term, which will help further strengthen the European business community in Uzbekistan.
EUROUZ Advances Cooperation with Mitsubishi Heavy Industries in Uzbekistan
Senior Vice President Hiroshi Matsuta and Operations Director Nadezhda Romanova represented Mitsubishi Heavy Industries at a recent meeting with EUROUZ. The parties reviewed the company’s regional activities and developments in Uzbekistan’s economic and industrial landscape. They also discussed the business environment, investment opportunities, and potential cooperation areas. EUROUZ outlined ways to support the company’s engagement and objectives in the Uzbek market. Both sides agreed to continue their cooperation.
EUROUZ Connects Leaders After Tashkent Investment Forum 2026
On 29 June, EUROUZ convened the Executive & Diplomatic Leaders Club to get together and discuss the outcomes of the Tashkent International Investment Forum 2026, bringing together senior representatives of business, government, the diplomatic community, and international institutions. The evening carried forward the momentum of the Forum, providing a distinguished setting to reflect on key outcomes, exchange perspectives, and explore the next steps for investment and cooperation. The meeting once again highlighted the value of the Club as a platform for trusted dialogue, strategic engagement, and stronger connections between Europe and Uzbekistan.
Event Photos
EUROUZ welcomes a new member – CMC Solutions LLC
Part of the internationally recognized CMC Group, founded in 2009 in Tbilisi, Georgia, the company is a leading provider of professional project and construction management services. Over the years, CMC has successfully delivered more than 150 projects across three continents, supporting investments exceeding USD 728 million through a combination of engineering expertise, international best practices, and strong project governance. As part of its strategic expansion into Central Asia, CMC has established CMC Solutions LLC in Uzbekistan, bringing extensive experience in the hospitality, commercial, residential, and mixed-use sectors. The company specializes in project management, construction supervision, cost control, and quality assurance, helping clients deliver complex projects efficiently and transparently.
EUROUZ welcomes a new member – New Stage Advisory
New Stage Advisory is an international consultancy specializing in corporate reputation, strategic communications, public affairs, and investor relations, supporting organizations through periods of growth, market expansion, stakeholder engagement, and complex business challenges. With offices in Zurich and Tashkent and a network of partners across major global business centres, including London, Delhi, Dubai, Beijing, Hong Kong, and Kuala Lumpur, the firm combines international expertise with deep regional insight. In Uzbekistan, New Stage Advisory works in partnership with FTI Consulting, one of the world's leading advisory firms. The company's Tashkent office serves as a regional hub for Central Asia and the CIS, helping clients navigate dynamic markets, strengthen stakeholder relationships, and communicate effectively in an increasingly interconnected business environment.
EUROUZ Member Avesta Investment Group Hosts Capital Markets Day 2026
On June 18, 2026, Avesta Investment Group held Capital Markets Day in Tashkent alongside TIIF 2026. The event brought together international financial institutions, investment banks, private equity funds, commercial banks, issuers, and investors. Speakers from IFC, Franklin Templeton, Ipoteka Bank OTP Group, UzMRC, SQB, and other institutions reviewed market development. Discussions covered deal flow and Uzbekistan’s evolving investment landscape. Avesta said it plans to convene further industry events.
EUROUZ Member Voltalia Starts 500kW Agrivoltaics Project in Uzbekistan|
On June 19, 2026, Voltalia launched construction of a pilot agrivoltaics facility in Uzbekistan’s Tashkent region. The project will install solar panels on agricultural land to generate electricity. Its first photovoltaic station will have 500 kW of capacity. Energy and agriculture officials reviewed implementation stages and possible expansion to other regions. Uzbekistan plans to use similar systems across 2,000 hectares nationwide.
EUROUZ Member ACWA Launches Uzbek-Saudi Youth Skills Program
In June 2026, ACWA joined Uzbek and Saudi partners at TIIF in Tashkent to launch a vocational training initiative. A joint steering committee will coordinate and expand the programme. Saudi Arabia’s Energy and Water Academy will develop courses, while ACWA will serve as a key implementation partner. The first year will train 100 Uzbek participants, beginning in Karakalpakstan. ACWA Sergeli also signed a memorandum with Miahona to support the project’s financial sustainability.
EUROUZ Member Coca-Cola Leads TIIF Circular Economy Dialogue
On June 17, 2026, Coca-Cola organized a circular economy panel during TIIF in Tashkent. The session brought together executives from Veolia, SUEZ, ODAS Group, I-Environment Investments, and Uzbekistan’s waste agency. Participants examined waste infrastructure, water resilience, urban decarbonization, and investment requirements. Coca-Cola presented sustainable packaging, water stewardship, and supply-chain resilience as core business priorities. The company said it will share experience on producer responsibility and water replenishment to support joint solutions.
EUROUZ Member Rhenus Invests €11M in Andijan Logistics Terminal
On June 18, 2026, Rhenus announced a three-phase modernization of its Andijan logistics terminal with Uzbekistan Railways. The €11 million project will convert the site into a road-rail intermodal hub. The terminal will store about 2,000 TEU and include 1,140 meters of track. After the first stage, annual handling capacity should reach 200,000 TEU. Construction will begin in July 2026, supporting exports and Trans-Caspian freight.
EUROUZ Member SUEZ Joins Uzbekistan’s $78M Waste Processing Project
On June 19, 2026, SUEZ signed a Head of Terms agreement at TIIF in Tashkent with Uzbekistan’s waste agency and Saudi Arabia’s Vision International Investment Company. The partners will develop facilities for hazardous industrial and household waste. The project carries an estimated investment value of $78 million. It will introduce treatment, disposal, and recycling processes aligned with European environmental standards. The parties will use the framework to advance Uzbekistan’s Zero Waste transition.
EUROUZ Member Meros Pharm Partners with SLC on Medical English Training
On June 12, 2026, Samarkand-based Meros Pharm and Britain’s Specialist Language Courses signed a cooperation agreement in London. The programme will improve English skills among Uzbekistan’s medical and pharmaceutical professionals through internationally standardised courses and specialised training. SLC serves doctors, nurses, pharmacists, educators, and institutions in more than 75 countries. The initiative will expand practical UK-Uzbek cooperation in medical education and pharmaceuticals. The partners plan to establish a specialised training centre in Uzbekistan.
EUROUZ Member EBRD Expands Financing Partnerships in Uzbekistan
On June 18, 2026, EBRD President Odile Renaud-Basso met Deputy Prime Minister Jamshid Kuchkarov in Tashkent. The bank signed cooperation agreements with Uzpromstroybank and the Uzbekistan Mortgage Refinancing Company. The accords will expand financial instruments for small businesses, young entrepreneurs, and mortgage lending. Officials also reviewed state-bank transformation, corporate governance, and private capital participation. Both sides agreed to broaden cooperation in infrastructure, financial reform, and capital markets.
Build Textile Partnerships at CAITME 2026
CAITME 2026, Central Asia’s leading international textile machinery exhibition, is getting ready to bring together global manufacturers, suppliers, and innovators. The event offers direct access to the latest textile technologies, investment opportunities, and high-value B2B partnerships in one of the region’s fastest-growing markets. For companies seeking expansion into Central Asia, CAITME has served as a strategic gateway to market entry, new business opportunities, and long-term industry partnerships for over 17 years.
Book your best spot here
EUROUZ Member Toyota Central Asia Adopts New Name for Regional Distribution
During 2026, Summit Motors Central Asia FC LLC changed its corporate name to Toyota Central Asia FC LLC. The company continues to distribute Toyota vehicles, genuine spare parts, and accessories in Uzbekistan, Tajikistan, and Turkmenistan. The new identity aligns the business more closely with Toyota’s global network and regional role. The company will maintain its focus on mobility, infrastructure development, and partnerships across Central Asia. It also plans to support automotive industry growth in the region.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Uzbekistan and Tony Blair Institute Set Reform Cooperation Priorities
On June 25, 2026, President Shavkat Mirziyoyev received Tony Blair, former British prime minister and chair of the Tony Blair Institute for Global Change. They reviewed practical cooperation to provide expert support for reforms in Uzbekistan. The talks identified joint projects, investor engagement, and digital transformation as priority areas. The partnership aims to introduce advanced technological and innovative solutions in key economic sectors. Both sides will focus future cooperation on implementing these agreed priorities.
Saida Mirziyoyeva and President Macron Advance Uzbekistan–France Strategic Partnership
On June 30, 2026, Saida Mirziyoyeva met French President Emmanuel Macron and conveyed greetings from President Shavkat Mirziyoyev. They discussed the continued development of bilateral relations and future joint initiatives. Cooperation currently covers energy, transport, infrastructure, education, and healthcare. The meeting reinforced Uzbekistan’s commitment to long-term engagement with France and the wider European community. Mirziyoyeva expressed confidence that both countries would implement mutually beneficial projects across their established areas of partnership.
Uzbekistan and France Expand Cooperation Across Five Priority Sectors
On June 30, 2026, Presidential Administration Head Saida Mirziyoyeva met French Foreign Minister Jean-Noël Barrot for talks on bilateral relations. The parties reviewed joint work in energy, transport, infrastructure, education, and healthcare. Mirziyoyeva described France as a strategic European partner and supported broader practical engagement. The dialogue advances Tashkent’s policy of deepening mutually beneficial ties with France and other European states. Uzbekistan plans to continue strengthening its role as a stable partner in Central Asia.
Samarkand Express Advances Toward Central Asia’s First Luxury Rail Service
On June 16, 2026, Uzbekistan Railways, the Art and Culture Development Foundation, and Italy’s Arsenale International signed a trilateral framework agreement in Tashkent. The document creates governance and coordination mechanisms for the project’s operational phase. The train will link Tashkent, Samarkand, Bukhara, and Khiva along historic Silk Road routes. The service will expand Uzbekistan’s premium tourism offering. Italian specialists will complete high-end interiors and install equipment in the first carriage.
European Investment Bank Opens Central Asia Office in Tashkent
In June 2026, the European Investment Bank launched regional operations from Tashkent to strengthen project delivery across Central Asia. Its agenda covers the Trans-Caspian route, major hydropower facilities, digital connectivity, and green infrastructure. The bank’s Uzbekistan pipeline, including signed projects and memoranda, has reached €1 billion. The office will support financing and advisory work aligned with national and EU strategies. Due diligence will precede support for Tashkent’s proposed Surum wastewater plant.
Škoda Expands Uzbekistan’s Commuter Fleet Through €120M Contract
During TIIF 2026 in Tashkent, Škoda Group and Uzbekistan Railways’ commuter subsidiary finalized implementation terms for a commuter fleet upgrade. The manufacturer will provide 10 electric units built for the 1,520 mm track standard. The trains will include European control networks and climate systems for commuter operations. The project will strengthen energy efficiency, safety, and domestic technical capacity. A local maintenance venture and Škoda Academy will support repairs, skills transfer, and engineering employment.
1.2 CENTRAL ASIA, CAUCASUS & CIS
CASCA+ Members Sign Protocol to Accelerate Regional Freight
On June 15, 2026, railway officials from six countries concluded regional talks hosted by Uzbekistan Railways. The protocol sets measures to shorten transit times, improve service quality, and introduce competitive tariffs. Delegates reviewed corridor performance in 2025 and the first quarter of 2026. The roadmap aims to increase freight volumes and remove barriers affecting cross-border trade. Members will continue work on refrigerated services, digital tracking, and a dedicated corridor consortium.
Central Asian States Set July–August Resource Supply Schedules
On June 20, 2026, energy and water officials from three countries met in Bishkek to review shared resource management. The protocol sets water-release and electricity-supply schedules for July and August. Participants also reviewed preparations for the 2026–2027 irrigation and autumn–winter periods. The measures support stable grid operations and regional water security amid rising demand. The ministries will hold their next coordination meeting in August 2026.
Uzbekistan and Kazakhstan Reinforce Strategic Partnership Through Presidential Talks
On June 21, 2026, Saida Mirziyoyeva met Kazakh President Kassym-Jomart Tokayev to review bilateral relations. She conveyed greetings from Uzbekistan’s president and thanked Tokayev for the reception. The talks focused on strengthening cross-border cooperation and coordination between Tashkent and Astana. The meeting supported continued diplomatic engagement between the neighboring states. Both sides will maintain efforts to deepen their established strategic and allied relations.
