Uzbekistan Update: December 15 - 31, 2024
Biweekly update on key developments in Uzbekistan
Notable Quotes
“We will reduce the poverty rate to 6% in the coming years" Shavkat Mirziyoyev President of the Republic of 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 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
January 16, 2025 HR and Capacity Building Committee Members meeting
The EUROUZ HR&C Committee meeting on January 16, 2025, will review 2024 achievements, elect new leadership, and set strategic goals for 2025. It includes discussions, strategy finalization, and member Q&A.
Date: January 16, 2025
Time: 3:00 - 5:00 PM Tashkent timeJanuary 22, 2025 Uzbekitan Economic Update Webinar
As one of the world's most rapidly evolving economies, Uzbekistan continues to capture global attention with its bold reforms and vast potential. Over the past year, the nation has entered a pivotal phase of economic and political transformation, marked by significant advancements in infrastructure development, renewable energy initiatives, and the expansion of international trade partnerships.
Date: January 22, 2025
Time: 3:00 - 5:00 PM Tashkent timeJanuary 27, 2024 EUROUZ Healthcare & Life Sciences Committee Meeting
The EUROUZ Healthcare & Life Sciences Committee Meeting brings together key stakeholders from Europe and Uzbekistan to foster innovation, collaboration, and strategic dialogue in the healthcare and life sciences sectors.
Date: January 27, 2025
Time: 2:30 - 4:00 PM Tashkent time
EUROUZ & MEMBER NEWS
EUROUZ Committee on Public Relations and Strategic Communications outlines plans for 2025
The EUROUZ Committee on Public Relations and Strategic Communications, led by Beeline Uzbekistan, held its second PR and media breakfast in partnership with the Public Foundation for Support and Development of National Mass Media. The event, chaired by Valentina Butnik, Beeline Uzbekistan's Director of External Communications and Reputation Management, gathered over 35 representatives from businesses, international organizations, and media experts. Highlights included a presentation by Akramjon Fozilov, Chairman of the Foundation's Board of Trustees, a discussion on Beeline's GSMA Global Summit (M360), EUROUZ Committee’s 2025 initiatives, and an online session by Nastassia Astrasheuskaya on the future of global media in Uzbekistan.
Link to pictures.EUROUZ to Launch Corporate Law Committee
EUROUZ held a meeting with KPMG Uzbekistan to discuss the establishment of the Committee on Corporate Governance and Legal Reforms, initiated by one of its esteemed members. The committee aims to enhance the corporate legal framework, focusing on reporting and disclosure practices, protecting shareholders' rights, and strengthening corporate governance in alignment with international best practices. Companies interested in participating are encouraged to contact the EUROUZ Secretariat for more details. Further updates will be shared at the beginning of 2025.
EUROUZ Meets Parliamentary Committee to Enhance Collaboration
The EUROUZ Secretariat had a productive meeting with the Chairman and members of the Committee on Industrial, Construction, and Trade Issues of the Legislative Chamber of Uzbekistan. The discussion explored opportunities for collaboration, focusing on exchanging insights from the business community, reviewing relevant legislation, sharing international best practices, and strengthening ties between the Parliamentary Committee and EUROUZ sector-focused Committees. The EUROUZ Secretariat regards the creation of this committee as a significant step forward in supporting Uzbekistan’s ambitious reform agenda and looks forward to building an effective framework for cooperation.
EUROUZ Member Wins "Most Innovative University 2024"
Central Asian University was awarded "Most Innovative University of 2024" at the Science and Innovation Awards in the "Turkestan" Palace of Arts. The university was recognized for hosting global thought leaders, adopting cutting-edge technologies, and forming partnerships with leading institutions in Germany, the U.S., and Switzerland, solidifying its role in advancing regional education and science.
EUROUZ welcomes new member - The Association of Employers of Uzbekistan
The Association of Employers of Uzbekistan, founded in November 2022 by the Person Hunters company, is a national organization uniting professionals and entities involved in human resource management. Its headquarters are located in Tashkent. The Association’s mission is to foster HR culture, advance social partnership, and strengthen the role of human capital within the Republic of Uzbekistan.
EUROUZ welcomes new member - EVROtbm
EVROtbm, established in 2020 in Samarkand, Uzbekistan, operates in the construction materials industry, specializing in high-quality precast concrete slabs and ready-mix products. Its headquarters are at R. Khamroev Korateri, Akdarya District, Samarkand Region. The company offers a wide range of concrete grades (M100 to M600) and precast slab products (1M to 10M), tailored for complex architectural projects with a focus on environmental sustainability.
EUROUZ welcomes new member - Hilton Tashkent City
Hilton Tashkent City, which opened in December 2019, is a flagship luxury hotel in Uzbekistan located in the heart of Tashkent. The hotel boasts 258 elegantly designed guest rooms, including 58 suites and a presidential suite, offering unmatched comfort and modern amenities.
EUROUZ welcomes new member - the Investment and Development Agency of Latvia
Investment and Development Agency of Latvia (LIAA) is a government institution tasked with promoting Latvia's economic growth by fostering entrepreneurship, attracting foreign investment, and increasing the competitiveness of Latvian companies in international markets. Operating under the Ministry of Economics, LIAA serves as a key partner for businesses seeking to establish or expand their presence in Latvia and abroad.
The agency provides a comprehensive range of services, including support for foreign investors, assistance with export promotion, and guidance on business development opportunities. Through various initiatives and programs, LIAA aims to create a favourable business environment, encourage innovation, and facilitate sustainable economic development.
Active in promoting Latvia as an attractive destination for investment, LIAA plays a pivotal role in enhancing the country’s global economic presence while strengthening its local industries.
EUROUZ welcomes new member - CleanTech Latvia
CleanTech Latvia is a cluster of environmentally friendly technologies that brings together industry professionals, Latvian municipalities, utility companies, public administration bodies, and organizations from diverse sectors. Active in Central Asia, including Uzbekistan, Kazakhstan, Armenia, and northwest Russia, the cluster supports its partners in product development, market expansion, and fostering collaboration.
EUROUZ welcomes new member - Nestle
Nestlé, the world's largest food and beverage company, has maintained a significant presence in Uzbekistan’s food industry since 1999. Beginning as a joint venture, the company established full-scale operations in 2002 with the opening of two factories in Namangan, producing bottled water, milk, and infant cereals. These facilities played a pivotal role in advancing food quality standards and contributing to local economic development. Nestlé’s operations in Uzbekistan reflect its commitment to enhancing the quality of life and fostering a healthier future. By adhering to rigorous global quality standards and prioritizing nutritional value, the company continues to support the growth of Uzbekistan’s food industry while addressing the evolving needs of consumers.
EUROUZ welcomes new member - Nurlikum Mining Uzbek-French Joint Venture (ORANO Group)
Nurlikum Mining Uzbek-French Joint Venture (ORANO Group) is a joint venture between Orano (51%) and Uzbekistan’s State Committee on Geology and Mineral Resources (GosComGeology, 49%), established in December 2019. Headquartered in Tashkent, the company focuses on uranium exploration and mining, particularly in the Djengeldiarea of the Navoi region.
Nurlikum Mining employs advanced industrial methods, adhering to international safety and environmental standards. Its operations include geological exploration, drilling, laboratory analysis, and pilot testing, with a focus on In Situ Recovery (ISR) technology. The company plays a key role in supporting Uzbekistan’s goals to enhance uranium production and exports, contributing to the nation's growing prominence in the global nuclear energy supply chain.
EUROUZ welcomes new member - Comtechoff
Comtechoff, established in 2010, provides premium office and industrial furniture, representing top European and Turkish manufacturers. Its diverse range includes desks, cabinets, acoustic solutions, soft seating, and executive furnishings, tailored to various client needs. Operating across Central Asia, particularly in Uzbekistan and Kazakhstan, Comtechoff is renowned for its consultation, technical support, and delivery services, ensuring seamless workspace solutions.
EUROUZ welcomes new member - Daryo.uz
Daryo.uz is a leading Uzbek-language news platform delivering timely and accurate updates on politics, economics, technology, culture, and sports since 2013. With a team of over 50 journalists, it serves over 4 million monthly readers and garners 21 million page views. Recognized for its quality, Daryo.uz's slogan is "Yangiliklar daryosidanchetda qolmang"—"Don't stay away from the river of news."
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1. INTERNATIONAL COOPERATION
1.1 EUROPE
Uzbekistan and Poland Discuss Enhanced Defense Cooperation
On December 21, 2024, Uzbekistan's Ambassador Amirsaid Agzamkhodjayev met with Poland's Deputy Minister of National Defense, Paweł Bejda, to strengthen military-technical cooperation. Poland emphasized its commitment to advancing Uzbekistan's defense capabilities through joint projects. Both parties agreed to maintain dialogue and expand collaboration in the defense sector.
Uzbekistan and Hungary to Formalize Labor Mobility Agreements
Uzbekistan's Ambassador Oybek Shakhavdinov met with Dr. Sándor Gömbös, Director General of Hungary's Directorate-General for Aliens Policing, in Budapest. They discussed finalizing agreements on readmission and economic mobility to regulate Uzbek labor migrants' status in Hungary. From January 2025, Hungary will permit work rights only to citizens from countries with such agreements. Hungary invited an Uzbek delegation to further discuss migration cooperation in early 2025.
1.2 CENTRAL ASIA, CAUCASUS & CIS
CIS Leaders Convene EAEU Summit
President Shavkat Mirziyoyev joined an informal summit of CIS heads of state in St. Petersburg, Russia. Hosted by President Vladimir Putin, the meeting brought together leaders from Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan. Discussions focused on reviewing 2024's joint activities and setting 2025 priorities, including regional trade, engineering, green energy, and digital solutions.
EAEU Citizens to Travel to Uzbekistan with Internal IDs
Uzbekistan plans to permit citizens of Eurasian Economic Union (EAEU) countries to enter using internal identification documents. This initiative aims to boost tourism, facilitate trade, and strengthen regional integration. It reflects Uzbekistan’s strategy to deepen ties with EAEU member states while fostering mutual economic and cultural exchanges.
Uzbekistan-Belarus Electronic Certification Agreement Approved
President Shavkat Mirziyoyev has ratified an intergovernmental agreement with Belarus to implement electronic systems for certifying the origin of goods. This initiative seeks to enhance bilateral trade, which reached nearly $500 million in the first 11 months of the year.
Uzbekistan Ratifies Protocol to Enhance Trade with CIS Countries
Uzbekistan’s Legislative Chamber has ratified a protocol to simplify and strengthen trade with CIS countries. The agreement focuses on reducing customs barriers, promoting fair competition, and fostering greater economic collaboration within the region. This move is expected to enhance Uzbekistan’s trade turnover with CIS partners.
Construction of China-Kyrgyzstan-Uzbekistan Railway Commences
President Sadyr Japarov officiated the groundbreaking ceremony for the China-Kyrgyzstan-Uzbekistan railway in Tosh-Kutchu, Jalal-Abad. This strategic project aims to enhance regional connectivity and global trade by facilitating goods transit from China through Central Asia to the Middle East and Europe.
1.3 RUSSIA & CHINA
Uzbekistan Boosts Gas Exports to China by 27%
Uzbekistan’s natural gas exports to China rose by 27.1%, reaching $667.3 million from January to November 2024. However, the country became a net gas importer, with imports from Turkmenistan and Russia surging 2.8 times to $1.55 billion. This marks the first time Uzbekistan has transitioned to net importer status since independence.
Visa-Free Travel Talks Advance Between Uzbekistan and Hong Kong
Uzbekistan and Hong Kong are negotiating a mutual visa-free regime to boost tourism and bilateral exchanges. Since March 2021, Uzbekistan has allowed Chinese citizens, including those from Hong Kong and Macau, visa-free entry for up to 10 days. A recently signed mutual visa exemption agreement with China is pending domestic approvals, with plans to extend similar arrangements to Hong Kong.
Uzbekistan and Russia Enhance Tax and Digital Cooperation
Uzbekistan's State Tax Committee and Russia's Federal Tax Service have signed an agreement to strengthen collaboration in tax administration. The partnership focuses on joint training programs, digital marking of goods, and transitioning to electronic tax exchanges to improve transparency and efficiency. Both nations aim to enhance the traceability of goods and optimize logistics operations through advanced technologies.
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