Our People > Javier M. Piedra

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Javier M Piedra is a financial consultant with over 40 years of work experience in private and public sectors, international development, finance, marketing and advisory across multiple disciplines (corporate and retail banking, SMEs, hedge fund management, credit reporting, restructuring and sovereign and corporate risk management). He is former acting Assistant Administrator for Asia at USAID in President Trump's first administration.

Articles

political reforms

Opinion: Tokayev’s National Kurultai Address: A Moral Message, Not a Political One

On January 20, 2026, Kassym-Jomart Tokayev, the President of Kazakhstan, addressed the nation at a session of the National Kurultai, an age-old platform for public dialogue, akin to a wise men’s council – at any rate, that’s how it’s often billed. To no one’s surprise, Tokayev pressed ahead with his stated agenda of political reform, highlighting foreign, economic, and development policies and goals. While not devoid of interest, those parts of the speech felt like little more than window dressing that tended to obscure the address’s underlying fire and true import. Tokayev’s oration seemed at points to echo Alexis de Tocqueville’s ideas in Democracy in America: nations endure only when citizens pair civic participation with moral virtue and personal responsibility, because unchecked individualism ultimately weakens free societies and institutions, regardless of the presence of law and order. On closer examination, Tokayev’s thinking reflects Tocqueville’s view that building democracy is hard but doable. As Tocqueville wrote: “nothing is more wonderful than the art of being free, but nothing is harder to learn how to use than freedom,” pointing towards the belief that nation-building depends on freedom bound to virtue. Tokayev’s Kurultai message went far beyond a list of technical fixes, platitudes about the economy, and empty cheerleading. Nor did it read as a sleight of hand or bait-and-switch tactic to preserve power in the face of a failing democracy. Those familiar with Tokayev know he has called for Tocquevillian-like responsible citizenship for years, which, to be sure, requires at times tough love. Tokayev drove home a familiar theme, that the nation’s fate rests on the character and outlook of its people—not just on its economy, wealth, and politics. He maintained that traditional values present the vital adhesive of society, without which, every effort at statecraft withers—or worse, becomes easy prey to unsavory ambitions or certain secular ideologies which have taken on religious force in modern culture. At the heart of Kazakhstan’s future, Tokayev thinks, there must lie a commitment to enduring human principles and timeless truths: unity, selflessness, sharing, mutual understanding, patience, compromise, and common sense. These values are not solely theoretical constructs but qualities evident for successful outcomes. They positively shape family formation, social relations, conflict resolution, and citizens’ engagement with the state and outsiders. What’s more, economic and institutional strength is only possible when built upon a society united by common values, clarity of purpose, and a spirit of service. Transforming Public Consciousness President Tokayev stressed that changing minds matters more than changing laws and hollow pep talks. Without a common moral compass, nation-building is fragile. Strong cultural and spiritual roots foster social cohesion, building trust, identity, and civic duty. Towards this end, he urged the older generation “to promote the values of work and enterprise, and wean young people from verbosity, glorification, laziness, indifference, and idleness.” Tokayev’s strategy for consolidating national consciousness focuses on two core investments: on advancing cultural infrastructure (museums, theatres, libraries) and creative capital, thereby recharging towns and schools as sites of learning, dialogue, and shared...

8 hours ago

Rare Earth Elements

Central Asia, Vanadium, and the U.S. National Security Strategy

Dated November 2025 and released publicly in early December, the U.S. National Security Strategy links overseas trade and investment, but overlooks Central Asia as a target region for critical minerals. This oversight merits reconsideration in the NSS’s next iteration, given the region’s known natural resource base, openness to foreign investment, proficiency in mining operations, low processing costs, and manageable geopolitical risks. As governments and businesses review supply-chain resilience for critical minerals, vanadium – not one of the 17 rare earth metals – has increasingly become a strategically relevant rather than optional or cyclical commodity. It is widely used in high-strength steel, grid-scale energy storage functions such as redox flow batteries, and infrastructure with defense and industrial applications. A recent letter from the U.S. Congress highlights a critical shortfall of vanadium in the United States: with 14,000 metric tons consumed in 2024, only 3,800 tons were produced domestically. Imports, mainly from Brazil and South Africa, are at risk due to shifting market conditions, meaning the U.S. needs a more structured and focused industrial-like approach to counter unnecessary import dependencies and geopolitical stresses. U.S. supply is secured solely through imports and recycling, given that the mining of vanadium-bearing mineral precursors is minimal to non-existent in the United States. With mining dominated by China and Russia, and with South African production in decline, today’s need to secure primary materials and supply chains means the U.S. must invest overseas until domestic mining is viable. What is needed is vertical integration from mine to final product – vanadium pentoxide (V205), vanadium trioxide (V2O3), and vanadium sulfate (VOSO₄ / V₂(SO₄)₃) for batteries. In an October Development Finance Corporation media release, DFC CEO Ben Black said that “Securing critical minerals is a paramount matter of U.S. strategic interest and economic prosperity.” That’s clearly beyond dispute. Central Asia and Vanadium Central Asia as a region fits within the U.S.’s broader geostrategic goals and geographic diversification plans aimed at building solid asset-based partnerships that go beyond raw material extraction and precarious trading arrangements. Last November's gathering of Central Asia’s five presidents at the White House finally placed the region firmly on the global map. U.S. Assistant Secretary of State for South and Central Asian Affairs Paul Kapur has also been clear: “Under President Trump’s and Secretary Rubio’s leadership, we’re elevating the C5+1 partnership as a priority — a strategic priority and an economic priority.” Here, amongst critical minerals, vanadium surely emerges as a priority commodity, given the near absence of U.S. domestic mining. Kazakhstan leads Central Asia in vanadium mining and production, hosting the region’s most productive deposits. Established operations, strong infrastructure, cost advantages, supportive laws, tax incentives, and a free FX regime make the country highly attractive to investors. Kazakhstan has three vanadium assets—Balasausqandiq in advanced production and Lisakovsk and Kurumsak in exploration—making them attractive targets for miners or funds with long horizons and low-cost capital. Kyrgyzstan has scattered, under-explored vanadium deposits, including in the Jetim Mountain Range. Uzbekistan is expanding exploration, but the value is yet to...

4 weeks ago

Pope

Vatican, Uzbekistan United in Pursuit of Diplomacy and Peace

On 6 December 2025, Pope Leo XIV accepted the credentials of thirteen new ambassadors, among them Abat Fayzullaev of Uzbekistan, in Vatican City’s splendid, fresco-festooned Sala Clementia in the Apostolic Palace. The accreditation of Uzbekistan’s ambassador marks a further milestone in the development of Tashkent’s relations with the Holy See. Addressing the new diplomats, Pope Leo XIV asserted the primacy the Holy See accords peace and diplomacy, and its conviction that peace can take root whenever the will to embrace it exists. “Peace is not merely the absence of conflict, but an active and demanding gift, one that is built in the heart and from the heart,” the Pope stated. He called on the ambassadors and the governments they represent to renounce “pride and vindictiveness,” and to resist “the temptation to use words as weapons. This vision of peace has become all the more urgent as geopolitical tension and fragmentation continue to deepen in ways that burden nations and that strain the bonds of the human family.” Pope Leo XIV said the Vatican would continue to publicly condemn grave inequalities, human rights abuses, and systemic injustice, while it defended the dignity of the poor and vulnerable. This assertion is consistent with the Church’s age-old social teaching and constitutes a veiled jab at the global economic system and its evident defects from the Christian perspective. In line with Central Asia’s broader interest in stability and common-good capitalism, Pope Leo told the ambassadors that “in times of global instability, the poorest and most marginalized often suffer most.” He encouraged the new ambassadors to help lay "the foundations for a more just, fraternal and peaceful world." Uzbekistan has struck a similar chord but from a different angle: “If the greatest gift given to man is life, then the greatest goal humanity has always strived for is, without a doubt, peace and harmony. That is why we always wish each other peace and tranquility, health, and well-being,” Kahramon Sariyev, Chairman of the Committee on Interethnic Relations and Compatriots Abroad of the Republic of Uzbekistan, stated. Central Asians will surely welcome the Pope’s belief that “religions and interreligious dialogue can make a fundamental contribution to fostering a climate of peace and that truly peaceful relationships cannot be built apart from truth.” Uzbekistan's state media—along with those of other Central Asian countries—have pointed out repeatedly that genuine interfaith and interethnic dialogue is not only possible but essential for peace and stability—perhaps an indication of the impact Central Asia’s Congress of Leaders of World and Traditional Religions has had in calling for a diplomacy rooted in respect for diverse traditions and cultural mores. Tashkent’s diplomatic engagement with the Vatican—embodied in the Uzbek ambassador’s accreditation to the Holy See last week—reflects a convergence of values. The Pope’s call for dialogue over discord sets the stage for deeper Vatican cooperation with Uzbekistan and the wider Central Asian region.

2 months ago

TCA Interviews

Why Regional Connectivity Is Reshaping Central Asia: Insights from ISRS Director Eldor Aripov (Part Two)

The Times of Central Asia presents the second part of an interview in Washington, D.C. with Eldor Aripov, Director of the Institute for Strategic and Regional Studies under the President of Uzbekistan. Dr. Aripov sat down with our Washington Correspondent, Javier M. Piedra, to discuss Uzbekistan’s geoeconomic and geopolitical strategic thinking. The conversation focused on Uzbekistan’s and the region’s efforts to cooperate diplomatically to maintain peace and stability with neighbors, irrespective of historical “hotspots,” cultural sensitivities, or the all-important matter of water resources. Aripov comments on Afghanistan, Chabahar Port (Iran), Ferghana Valley, and business development – key for U.S. investors thinking about Uzbekistan and the broader Central Asian region. TCA: What message do you have for businesses and private investors who do not have any experience in Central Asia? Many companies are sniffing around at this time – what do you want to tell them? Aripov: Uzbekistan is ready for committed investors - those who deliver lasting benefits, quality jobs, and shared prosperity. A decade of reforms has strengthened our fiscal discipline, boosted SMEs, and anchored stability. Coupled with our focus on good relations and a secure, integrated Central Asia, we offer a reliable platform for long-term, sustainable investment. While we have more work to do, we invite you to be part of our momentum. TCA: What are the risks that companies might face when considering long-term investment? Aripov: No country is immune to downside risks – not only in the developed but developing world. Having said that, downside risks, including trade shocks, commodity price volatility, tighter external financing, and contingent liabilities from state-owned enterprises, are mostly exogenous factors driven by global conditions. Risks are mitigated through political stability, diversification of the economy, prudent macroeconomic management, and reforms to state-owned enterprises and governance. For more in-depth commentary, I refer you to recent IMF, World Bank, and Asian Development Bank assessments about our economic conditions and trends. TCA: Let me move on to more regional issues. The first Ferghana Peace Forum was held in October 2025. How can it serve as a replicable model for other regions seeking sustainable peace? Aripov: First of all, I’d like to put this important forum on everyone’s radar. I’d like to underscore that peace is possible when hard work, respect for others, and a commitment to understanding guide our actions, despite historical memories and past differences. Someone should write a case study about our ability to bring consensus into an otherwise challenging region. In any event, the inaugural Ferghana Peace Forum brought together over 300 participants from more than 20 countries — representatives of Central Asian governments, international organizations, leading think tanks, research institutions, and local communities. A joint communiqué was adopted, confirming the intention to institutionalize the Forum as a permanent platform with rotating hosts. This broad participation highlighted an important reality: the Ferghana Valley is no longer viewed as a fragile zone; it is now viewed as a model of pragmatic peacebuilding. The Forum demonstrated how regional leadership — particularly the openness and...

2 months ago

TCA Interviews

The New Geoeconomics of Uzbekistan: Insights from ISRS Director Eldor Aripov

The Times of Central Asia presents a two-part interview in Washington, D.C. with Eldor Aripov, Director of the Institute for Strategic and Regional Studies under the President of Uzbekistan. Dr. Aripov sat down with our Washington Correspondent, Javier M. Piedra, to discuss Uzbekistan’s strategic thinking regarding its diplomatic posture, regional integration, and relations with Central Asian and global partners. The conversation includes commentary on “Great Game” geopolitics, U.S.–Uzbekistan relations, trade, the meaning of “Uzbekistan First,” the historically explosive Ferghana Valley, and water management. Recognizing the link between investment, a stable geopolitical ecosystem, and the need to de-risk potentially conflictive issues, Aripov further sheds light on Tashkent’s practical approach to internal governance and business development. [caption id="attachment_40284" align="aligncenter" width="2360"] Central Asia on the Front Lines; image: Defense.info[/caption] TCA: “America First” refers to U.S. policies prioritizing national interests, often associated with non-interventionism, nationalism, and protectionist trade. Given Uzbekistan’s pragmatic foreign policy, can we speak of an “Uzbekistan First” policy? It is certainly not isolationist — but how is it manifested on a day-to-day basis? Aripov: What you describe as “Uzbekistan First” is, in our understanding, fundamentally about prioritizing national interests – stability and predictability for the people of Uzbekistan. Yet Uzbekistan’s uniqueness lies in the fact that our national interests are closely intertwined with those of the entire region – this means shared upsides at the transactional and strategic levels and thinking long-term. We border every Central Asian country as well as Afghanistan, and therefore any issue — security, trade, transport, or water management — directly depends on the quality of our relationships with neighbors. From his first days in office, President Shavkat Mirziyoyev — with his strategic vision and deep understanding of regional dynamics — declared that regional unity and mutual benefit stand at the core of Uzbekistan’s foreign policy. The essence of his doctrine is to resolve agreeably any historically or materially problematic issues with neighbors, remove barriers to understanding, and create predictable, stable conditions for mutually beneficial cooperation and the free movement of goods, ideas, and people. That is the true meaning of “Uzbekistan First”: not isolation, but openness, predictability, and regional consolidation. TCA: How are you realizing “Uzbekistan First” in practice? Aripov: Uzbekistan is strengthening its economy domestically and global track - putting in place the building blocks for internal sustainable development and accelerating accession to the World Trade Organization. The latter means expanding the geography and composition of exports and increasing the country’s investment attractiveness. This approach is rooted in the logic of sustainable development within the broader international context: long-term national interests are best served by Uzbekistan integrating into global value chains and markets. The results speak for themselves: in 2024, Uzbekistan’s GDP grew by 6.5%, foreign direct investment increased by more than 50% to reach $11.9 billion, and the target for 2025 is to attract $42 billion. This performance is also a tribute to our style of diplomacy, grounded in respect and having a constructive attitude towards others. Thus, “Uzbekistan First” represents a modern model...

2 months ago