Uzbekistan can unlock significant private investment, create more and better jobs, and accelerate its transition to a more competitive, private sector-led economy by advancing reforms in logistics, tourism, and pharmaceuticals, according to IFC, a member of the World Bank Group. A new Country Private Sector Diagnostic (CPSD) for Uzbekistan, released by the World Bank Group,
The European Bank for Reconstruction and Development (EBRD) says it is contributing to the development of sustainable and ecologically responsible mining and processing in Kazakhstan by supporting the operations of its long-term client Solidcore Resources (SR), an AIFC-listed company and the country’s leading gold producer. The EBRD will provide a loan of up to US$ 300
Presidential Representative for Special Assignments Bakyt Torobayev recently visited the modernized Junda (Zhongda) oil refinery and ordered its management to increase motor fuel production in an effort to reduce Kyrgyzstan’s dependence on gasoline imports. Junda is Kyrgyzstan’s largest oil refinery, located in the town of Kara-Balta, 60 kilometers west of Bishkek. The refinery is undergoing
International investor interest in Central Asia and the Caucasus is rising rapidly, according to a new Investor Perception Report released by Montfort Eurasia. New data shows that interest from US and UK investors in the region has tripled since 2023 – despite lingering concerns over political stability and investment security. Investors showed particular interest in
The World Bank’s Board of Executive Directors has approved a major project to modernize Tajikistan’s water and irrigation systems and support ongoing reforms, bringing improved irrigation services and economic opportunity to approximately 470,000 farmers and rural community members across the country. The Second Strengthening Water and Irrigation Management (SWIM-2) project will be financed by a $75 million grant
President Shavkat Mirziyoyev on July 1 reviewed proposals to develop Uzbekistan’s transport and logistics system and make more effective use of the country’s transit potential. Today, Uzbekistan has broad opportunities to become a major land transport hub connecting East and West. Four thousand kilometers of international transit corridors pass through the country’s territory, and the
A Special Commission has commenced the dismantling of greenhouses and the disconnection of their heating systems in the Kibray, Tashkent, Zangiota and Yukorichirchiq districts of Tashkent Region, the National Committee on Ecology and Climate Change said. During the autumn and winter seasons, many greenhouses relied on coal, fuel oil, used vehicle tires, and other environmentally
The Ministry of Artificial Intelligence and Digital Development of Kazakhstan, Citi, and Freedom Holding Corp. have signed a trilateral Memorandum of Understanding to jointly develop a large-scale AI cluster. The key objective of the partnership is to establish an artificial intelligence cluster powered by advanced GPU technologies, along with the construction of a state-of-the-art data
The World Bank’s Board of Executive Directors has approved a $100 million grant from the International Development Association (IDA) to support foundational economic reforms, including in the digital, aviation, and energy sectors, aiming to open up the economy and generate more and better-paid jobs in Tajikistan. The Second Competitive and Inclusive Tajikistan Development Policy Operation builds on the first
The Uzbekistan–Georgia Business Forum was held in Tbilisi on July 1, providing a platform for advancing bilateral trade, investment and industrial cooperation between the two countries. The event brought together government officials, financial institutions and business leaders from Uzbekistan and Georgia to explore new opportunities for economic partnership, according to the Uzbek Ministry of Investments,
The “Investing in Central Asia: Opportunities and Partnerships” session dedicated to attracting capital from the Gulf countries and China was held on the second day of the Eurasian Development Bank’s (EDB) Annual Meeting and Business Forum in Almaty last week. Ruslan Dalenov, Deputy Chairman of the EDB Management Board, noted that the Bank envisages five
President Shavkat Mirziyoyev held a meeting with young people on the occasion of June 30 – Youth Day. “From the very beginning of the reforms, we identified supporting young people and helping them achieve their dreams and aspirations as one of the highest priorities of state policy,” the President said. Mirizyoyev emphasized that, in today’s increasingly
The Eurasian Development Bank (EDB) and AKASHI DATA CENTER PLC have agreed on key terms for financing the first phase of construction of a Tier IV data center in Kazakhstan in the amount of US $90 million. The agreement was signed last week in Almaty on the sidelines of the EDB’s Annual Meeting and Business
As part of ongoing efforts to create a more convenient and safer environment for tourists in Uzbekistan, measures are being taken to develop the country’s car rental (Rent-a-Car) services. An open dialogue was held at the Tourism Committee, bringing together representatives of the Ministry of Digital Technologies, the Customs Committee, insurance companies, and car rental
The Kazakhstan-Turkmenistan Business Forum, which brought together representatives of government agencies, business circles, and industry organizations from both countries, was held in Astana as part of the 14th meeting of the Intergovernmental Kazakh-Turkmen Commission. Participants discussed prospects for expanding trade, economic, and investment cooperation, as well as specific measures to increase mutual trade, according to
On June 26, President Shavkat Mirziyoyev reviewed measures to reduce the share of the shadow economy. In recent years, systematic efforts have been undertaken in this direction. In particular, special and territorial commissions to combat the shadow economy have been established, risk analysis and segmentation systems have been introduced in the tax and customs authorities,
An Afghan–Kyrgyz Forum was held in Bishkek with the participation of business representatives from both countries, including officials of the Islamic Emirate of Afghanistan and the Kyrgyz government, TOLOnews reported. Addressing the forum, Abdul Shakoor Haqqani, acting head of the Afghan Embassy in Bishkek, emphasized expanding bilateral cooperation in trade, investment, and transportation. An agreement
The Ministry of Artificial Intelligence and Digital Development has initiated efforts to establish lasting conditions for the growth of technology entrepreneurship in Kazakhstan. As part of its digital economic transformation strategy, the Ministry is developing a post-2028 support framework for Astana Hub participants, with a planning horizon extending to 2045. The initiative aims to create
The United Nations Development Programme (UNDP) continues to support the Government of Kyrgyzstan in developing instruments that strengthen export potential and enhance the competitiveness of domestic companies in international markets. Within the framework of the UNDP’s Trade Facilitation project, in cooperation with the Open Joint Stock Company State Insurance Organization, work has been carried out
The European Bank for Reconstruction and Development (EBRD) is improving access to licensed medical products in Uzbekistan by financing the expansion of Big-Family-Pharm (BFP), operator of the Akmal Pharm pharmacy chain in the Fergana Valley. BFP, which runs 86 retail pharmacies across the Tashkent, Andijan and Fergana regions of Uzbekistan, will receive an EBRD loan of