Uzbekistan Update: July 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
EUROUZ Board Aligns Priorities for Leadership Transition and Upcoming Initiatives
On 7 July, EUROUZ convened its Monthly Board of Directors Check-in to review progress and coordinate priorities for the coming months. Members assessed outcomes from the Tashkent International Investment Forum and Annual General Meeting while outlining a roadmap for planned initiatives and events. The discussion also prepared the transition to the newly elected Board, shifting the Association from post-event review toward its next governance cycle. This coordination is intended to preserve institutional continuity, sharpen organizational priorities, and sustain member-focused delivery. The next milestone is completing the Board transition and advancing the agreed roadmap into implementation.
EUROUZ welcomes a new member – AMEX Healthcare.
Established in 1980 and headquartered in Vienna, AMEX Healthcare is an international provider of healthcare solutions, with operations in Kenya, Mexico, Pakistan, and Uzbekistan. The company specialises in medical equipment, pharmaceuticals, turnkey hospital solutions, and project financing support.AMEX Healthcare works with United Nations agencies, NGOs, governments, public institutions, and private healthcare operators, supporting international procurement programmes and the delivery of essential medical supplies and equipment worldwide. Through its Tashkent office, AMEX Healthcare serves Central Asia, combining international expertise with local market knowledge and offering project support through export credits, concessional financing, and preferential loan mechanisms.
EUROUZ welcomes a new member – RÖDL.
Founded in 1977 and headquartered in Nuremberg, RÖDL is a leading German professional services firm providing integrated expertise in legal advisory, tax consulting, audit and assurance, advisory and IT, and business process outsourcing. With more than 6,000 professionals across 117 offices in 50 countries, RÖDL supports internationally active companies through a unified, interdisciplinary approach and seamless cross-border cooperation. RÖDL has been present in Central Asia since 2009, with offices in Tashkent and Almaty. Its multinational team combines international expertise with strong local market knowledge to support clients on investment, business development, and project-related matters.
Industry Leaders Getting Ready for the Annual Reunion in September
The long-awaited annual gathering of plastics and polymers professionals will present the latest updates from across the globe. The 16th edition of Plastex Uzbekistan will once again bring together global manufacturers, raw material suppliers, equipment providers and innovative solution developers, creating a dynamic platform for business growth, strategic partnerships and new market opportunities in Uzbekistan and Central Asia.
Join Plastex Uzbekistan 2026 as an exhibitor or sponsor to showcase your solutions to a highly targeted professional audience, strengthen your market presence and become part of the region’s leading plastics and polymers industry event.
The chance to present the product/service can be booked hereUzbekistan’s Engineering & HVAC Showcase – Where Business Meets Smart Innovation
For 14 years, AquaTherm Tashkent has delivered impressive growth edition after edition, and today stands as Central Asia’s leading platform for refrigeration, air conditioning, ventilation, heating and piping technologies. Uzbekistan’s only specialised exhibition to bring together the full range of engineering solutions under one roof, it takes place on 6-8 October 2026 at the Uzexpocentre NEC in Tashkent. With buyers, engineers and project designers, decision-makers all in one place, there is no better stage to launch products, forge partnerships and expand your footprint in one of the region’s fastest-growing markets.
Book your stand now to showcase your products, find new partners and break into Uzbekistan’s fast-growing market
EUROUZ & MEMBER NEWS
EUROUZ Member Asakabank Secures $60 Million Sharia-Compliant Syndicated Financing
Asakabank announced on 2 July 2026 that it had closed a $60 million Sharia-compliant syndicated financing facility for operations in Uzbekistan. The facility uses multiple tranches with different tenors, includes an accordion option to increase its size, and will support private-sector financing and the bank’s general corporate needs. The transaction makes Asakabank Uzbekistan’s first commercial bank to attract long-term syndicated funding structured under Sharia principles. ICD led the deal as mandated lead arranger, bookrunner and investment agent, while Boubyan Bank joined as joint lead arranger and ICIEC provided credit enhancement.EUROUZ Members EDF and Orano Anchor $2.6 Billion French Project Pipeline
On 9 July 2026, Uzbek officials and representatives of 17 French companies reviewed new investment projects in Tashkent. EUROUZ members EDF and Orano account for $2.6 billion of the discussed portfolio, comprising $2 billion in energy projects and a $600 million industrial project in the Navoi region. The talks followed bilateral trade of $1.4 billion in 2025 and $775 million in January–May 2026, up 150% year on year. Their projects could expand French participation in Uzbekistan’s energy and uranium industries while adding production capacity and technology.
EUROUZ Member Dentons Advises $150 Million AI Data Center Financing
On 7 July 2026, EUROUZ member Dentons said it advised DataVolt on up to $150 million of non-recourse financing for the TAS-1 data center in Tashkent. DEG, EBRD, OPEC Fund and Proparco are providing the 12-year facility for a 12 MW green data center designed for liquid-cooled cloud, AI and enterprise workloads. The transaction is described as Uzbekistan’s first financing of this kind, moving the project toward lender-backed construction and operation. The facility could expand regional digital capacity while supporting the Digital Uzbekistan–2030 strategy. Commissioning is expected in late 2026, making operational readiness the next confirmed milestone.EUROUZ Member AKFA Plans Investor Sounding for Debut Bond
On 8 July 2026, UzDaily reported that AKFA Aluminium Group would hold introductory meetings with international financiers in London the following week. Citigroup and JPMorgan will organize the roadshow, where senior executives will present the company’s financial profile and test demand for a potential debut bond. The consultations remain preliminary, and no immediate debt placement is planned, distinguishing the exercise from a formal issuance. Accessing international bond markets could diversify AKFA’s funding while supporting stronger governance and transparent financial reporting.EUROUZ Member Dentons Advises $15.4 Million UzCarlsberg Equity Investment
EUROUZ member Dentons advised the EBRD on an equity investment of up to $15.4 million in UzCarlsberg. The financing will fund a new brewing facility beside the company’s existing site, advanced brewing and bottling equipment, and additional warehouse capacity. The transaction is the EBRD’s third equity investment in Uzbekistan since 2020, extending its support beyond debt financing into corporate ownership. The investment could expand production capacity while strengthening private-sector financing in Uzbekistan’s food and beverage industry.EUROUZ Member Beeline Uzbekistan Anchors DataVolt’s TAS-1 Data Center
EUROUZ member Beeline Uzbekistan and DataVolt signed two memorandums at the Tashkent International Investment Forum. The first sets agreed commercial terms making Beeline a major tenant of DataVolt’s TAS-1 facility, while the second is a non-binding framework to evaluate a data center in Bukhara. The agreements shift cooperation from general digital expansion toward secured domestic hosting capacity and possible regional infrastructure. Anchor tenancy could support local data processing, cloud and AI services, resilience, and data localization. The next milestones are Beeline’s capacity commitment at TAS-1 and a decision on Bukhara.
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Uzbekistan Tasks Tuscany Partnership Roadmap After 25% Trade Growth
President Shavkat Mirziyoyev met Tuscany Governor Eugenio Giani in Uzbekistan on 14 July 2026 and agreed to prepare a joint regional cooperation roadmap. The plan is expected to identify projects linking Tuscany with Uzbek regions across textiles, leather, food processing, jewelry, construction, education, culture, and tourism. The initiative builds on a 25% rise in Uzbekistan–Italy trade since the start of 2026, existing industrial projects, and a new Tuscany–Bukhara agreement. A structured roadmap could convert broad regional ties into sector-specific initiatives and expand market access for Uzbek products, including textiles promoted through Prato. The next confirmed step is drafting and adopting the roadmap.
Uzbekistan Broadens French Corporate Talks Across Five Infrastructure Sectors
On 9 July 2026, Presidential Administration head Saida Mirziyoyeva met representatives of major French companies led by MEDEF International’s Claude Imauven. The talks covered energy, education, water supply, transport, and urban infrastructure, but the source disclosed no project values, contracts, or implementation schedules. The engagement followed Mirziyoyeva’s recent dialogue with French President Emmanuel Macron, moving the bilateral agenda from political discussion toward direct corporate participation. This format could widen the pool of French operators considered for Uzbekistan’s infrastructure and public-service priorities.
Uzbekistan Extends Liechtenstein Investment Dialogue
Uzbek Deputy Prime Minister Jamshid Kuchkarov met Liechtenstein Prime Minister Brigitte Haas on 30 June 2026 during the IMF–World Bank constituency meeting. Officials discussed trade, investment, financial-sector cooperation, and possible joint initiatives, with Liechtenstein citing private-sector interest and existing construction and healthcare companies. The exchange marked a gradual expansion of bilateral economic contacts, also disclosed projects, values, financing, or institutional mechanism. Continued engagement will broaden investment channels and financial-sector links.
Sardinia Opens 100 Annual Healthcare Roles to Uzbek Specialists
On 7 July 2026, Uzbekistan’s Migration Agency announced a recruitment program for doctors and nurses to work in Sardinia, Italy. The scheme targets up to 100 hires annually, requires medical or nursing degrees, and includes a seven-month online Italian course funded by the agency. Unlike many overseas placements, applicants need no prior experience, although experienced candidates and specialists under 40 receive preference. Official employment offers base pay up to €3,500 monthly, potentially €4,000–5,000 with shifts, plus housing, lunches, insurance, and a 38-hour week.
Uzbekistan Develops $1.8 Billion French Energy Pipeline
On 8 July 2026, Uzbek and French officials reviewed six energy projects worth $1.8 billion that are being developed in Uzbekistan. The portfolio covers generation, transmission, gas infrastructure, storage, efficiency, digitalization, engineering, and training, while EDF is building more than 3.1 GW of gas-fired capacity. These proposals will add to three French projects worth about $2 billion already under implementation, lifting the joint pipeline above $4 billion. The expansion will increase generation and network capacity while widening French participation beyond existing EDF, TotalEnergies, and Voltalia projects.
1.2 CENTRAL ASIA, CAUCASUS & CIS
Mirziyoyev Receives Georgia’s Golden Fleece, Deepening Diplomatic Recognition
President Shavkat Mirziyoyev received Georgia’s Order of the Golden Fleece in Tbilisi on 2 July 2026 during official events. Georgian President Mikheil Kavelashvili presented the decoration for Mirziyoyev’s contribution to strengthening bilateral relations. Established in 1998, the order recognizes contributions to Georgia’s foreign ties, culture, science, and arts, and has previously been awarded to prominent international leaders. The award provides diplomatic recognition of Uzbekistan–Georgia engagement.
Uzbekistan and Georgia Target $1 Billion Trade Through Logistics Expansion
Uzbekistan and Georgia agreed during high-level talks in Tbilisi on 2 July 2026 to pursue annual bilateral trade of $1 billion. A joint roadmap will support the target through investment projects, wider use of Poti and Batumi ports, a logistics hub, an industrial zone, and a permanent Uzbek product showroom. Trade reached $270 million in 2025, while turnover exceeded $100 million from the start of 2026, leaving a substantial gap to the target. The plan is to expand market access and connect Uzbek cargo more closely with Black Sea and transregional routes.
Uzbekistan Weighs Anaklia Port Stake to Expand Black Sea Access
On 3–4 July 2026, an Uzbek delegation inspected Georgian ports and considered participation in the Anaklia Deep Sea Port project. Ministers examined Anaklia, Poti, Batumi, and the Poti Free Industrial Zone, while discussing warehouses, terminals, and a consortium of Uzbek companies. The initiative would move Uzbekistan from using Georgian transit facilities toward potential ownership or development participation in a major Black Sea logistics asset. A stake could improve control over cargo handling and support access to European and Latin American markets through the China–Kyrgyzstan–Uzbekistan corridor. The next step is preparing agreements and forming the proposed consortium.
Uzbekistan and Belarus Target $2 Billion Trade Through Industrial Plan
Uzbekistan and Belarus approved an action plan in Minsk on 9 July 2026 to raise bilateral trade to $2 billion. The plan covers new industrial projects in agriculture, engineering, pharmaceuticals, electrical equipment, light industry, and furniture, alongside forums in tourism, healthcare, and education. Trade had nearly tripled over five years to almost $1 billion in 2025 and increased another 30% from the start of 2026, with 360 joint ventures operating. Reaching the target would require roughly doubling the latest annual turnover through additional production and commercial links.
Uzbekistan and Belarus Formalize Strategic Partnership Around Trade and Nuclear Cooperation
Uzbekistan and Belarus formalized strategic partnership relations in Minsk on 9 July 2026 after presidential negotiations. The declaration was supported by a roadmap targeting $2 billion in trade, projects across multiple industrial sectors, and Belarusian input into Uzbekistan’s first nuclear power plant and related infrastructure. This elevates ties from expanding cooperation to a formally defined long-term partnership with broader economic, political, and technical coordination. The framework could deepen industrial supply chains and transfer Belarusian nuclear infrastructure experience to Uzbekistan’s planned energy program.
Uzbekistan and Belarus Launch $164 Million Industrial Project Pipeline
Uzbekistan and Belarus approved seven joint manufacturing projects worth $164 million at their third Forum of Regions in Minsk. A 2026–2030 cooperation plan targets $2 billion in trade and prioritizes electrical engineering, textiles, agriculture, pharmaceuticals, construction materials, and furniture, supported by 14 regional agreements. The new pipeline expands existing cooperation in cables, tractors, pharmaceuticals, poultry processing, and mining-equipment assembly into additional regional production facilities. The projects could add processing capacity and localized supply chains in Andijan, Tashkent, and Fergana regions.
Uzbekistan Seeks 700,000-Tonne Tajik Iron Ore Supply From 2027
Uzbekistan instructed officials on 14 July 2026 to accelerate an agreement for importing 700,000 tonnes of iron ore annually from Tajikistan. Imports are planned from 2027 alongside domestic projects at Surun-Ota and Tebinbulak and a separate memorandum covering 300,000 tonnes of direct reduced iron from the third quarter of 2027. The strategy supplements Uzbekistan’s estimated 1.5 billion tonnes of reserves because major domestic deposits require further development before supplying expanded steel production. Diversified imports could stabilize feedstock for Uzmetkombinat while domestic mining and processing capacity is built.
Uzbekistan and Turkmenistan Establish Information-Security Cooperation Framework
Uzbekistan and Turkmenistan signed two cooperation documents in Ashgabat following foreign-minister talks reported on 15 July 2026. The package includes an intergovernmental agreement on international information security and a foreign-ministry cooperation program for 2027–2028. Unlike broader declarations of political cooperation, the documents create defined channels for diplomatic coordination and security-related institutional work. The framework could standardize exchanges between the ministries and expand bilateral coordination on information-security issues at the international level.
