Our People > Sadokat Jalolova

Sadokat Jalolova

Journalist

Jalolova has worked as a reporter for some time in local newspapers and websites in Uzbekistan, and has enriched her knowledge in the field of journalism through courses at the University of Michigan, Johns Hopkins University, and the University of Amsterdam on the Coursera platform.

Articles

International Finance Economic Growth Foreign Investment Government

Uzbekistan Attracts $26 Billion in Foreign Investment in First Ten Months of 2024

On November 27, Uzbek President Shavkat Mirziyoyev chaired a meeting to assess the country's foreign investment performance and set priorities for the coming year. In the first ten months of 2024, Uzbekistan secured over $26 billion in foreign investment—an increase of 1.7 times compared to the previous year. Of this amount, direct investment accounted for $24 billion of the total. These funds enabled the launch of 6,300 enterprises, generated an additional 30 trillion Uzbekistani Sums (UZS) in value, and boosted exports by $305 million. Crucially, 163,000 high-income jobs were created. An additional $8.6 billion in investment is anticipated by the end of the year. Regional and Sectoral Challenges During the meeting, a detailed analysis of investment performance across Uzbek regions and industries revealed that eight districts and cities showed low activity. Furthermore, some sectors experienced declines compared to the previous year. Delays in document preparation and tender processes also hindered the progress of 17 projects funded by international financial institutions. Mirziyoyev emphasized the need for enhanced regional investment initiatives and innovative approaches. He pointed out untapped opportunities, such as funding from the European Bank for Reconstruction and Development (EBRD), which is keen to support private-sector projects amid Uzbekistan’s improved business environment and economic growth. Strategic Focus The president also called on regional leaders to leverage financing opportunities effectively and focus on attracting investments that deliver tangible results. Priority areas include accelerating industrial development, creating jobs, and expanding export potential. Mirziyoyev also instructed officials to evaluate the volume and strategies of international financial institution financing and foreign investment. Each region and sector was tasked with identifying specific projects for 2025, emphasizing public-private partnerships and private investment.

2 months ago

Finance International Finance Financial Market Trade & Markets Currency

Uzbekistan’s Financial Data Now Available on Bloomberg Terminal

Market data from the Uzbek Republican Currency Exchange (UZCE) is now accessible on the Bloomberg Terminal, marking a significant step toward integrating Uzbekistan’s financial market into the global economy. Bloomberg users can now analyze real-time pricing and indicators for Uzbekistan’s currency, money markets, state securities, and derivatives. Expanding Accessibility The UZCE, which includes 35 local commercial banks, six brokerage firms, and one foreign custodian bank, serves as Uzbekistan’s primary platform for liquidity. It offers trading in approximately 20 instruments across various market segments. In 2023, the UZCE reported a total trading volume of $81 billion. By making this data available on Bloomberg, Uzbekistan aims to attract foreign investors by providing them with the tools to understand its financial market and assess trends more effectively. This transparency simplifies risk assessment and enhances decision-making for global market participants. Strengthening Market Confidence Rashid Usmanov, Director General of the Central Bank of Uzbekistan, highlighted the impact of this partnership, stating: “This partnership with Bloomberg will help participants in global markets to get up-to-date and accurate information from the UZCE in different segments of the exchange, thereby more effectively managing their assets. Increasing transparency and openness of data will strengthen market confidence and ensure an increase in liquidity.” The Central Bank of Uzbekistan’s market data is available via Bloomberg’s data license and the “B-PIPE” channel, providing real-time market information. This collaboration enhances the global visibility of Uzbekistan’s financial sector, positioning the country as a more attractive destination for international investment.

2 months ago

Methane Reduction Environmental Disaster Ecology Environmental Awareness

Satellite Data Reveals High Methane Emissions in Turkmenistan’s Oil and Gas Fields

The Environmental Defense Fund (EDF) has released the first images from MethaneSAT, a cutting-edge satellite designed to monitor methane emissions globally. The data reveals significant leaks from key fossil fuel production regions, including the United States, Turkmenistan, and Venezuela. Initial findings indicate methane emissions from North American and Central Asian production sites are substantially higher than earlier estimates based on ground-based monitoring. Both Turkmenistan and the U.S. are signatories to the Global Methane Pledge, which aims to reduce global methane emissions by 30% by 2030. MethaneSAT is part of a new wave of satellite missions focused on holding major emitters accountable for curbing methane leaks. This comes amid alarming findings from a September study by Stanford University, which reported that global methane emissions are increasing at an unprecedented rate, driving atmospheric methane levels to their highest in 800,000 years. Without immediate intervention, researchers warn, the planet could face a temperature rise exceeding 3 degrees Celsius by 2100. Methane, a greenhouse gas over 80 times more potent than carbon dioxide in the short term, is primarily released through fossil fuel production, agriculture, and waste decomposition. In 2020, human activities were responsible for 65% of methane emissions, with agriculture and waste contributing two-thirds and fossil fuels accounting for one-third. While agricultural emissions are harder to mitigate, initiatives like the Methane Pledge prioritize reducing methane leaks in fossil fuel production, which are more readily addressed. The MethaneSAT mission highlights the urgency of reducing emissions and pressuring major fossil fuel producers to take swift action. The Global Methane Pledge accommodates different national circumstances, allowing countries like New Zealand, where fossil fuel emissions are minimal, to focus on reducing methane from agriculture and waste. With atmospheric methane levels reaching critical thresholds, MethaneSAT and similar initiatives aim to catalyze a global effort to combat this potent driver of climate change.

2 months ago

GDP State Budget Infrastructure Development International transport Railways Legislation

Uzbekistan Targets $200 Billion GDP by 2030 with Transport Reforms

On November 26, President Shavkat Mirziyoyev outlined transformative plans for Uzbekistan’s state-owned railway and aviation sectors, setting an ambitious goal to increase the country’s GDP to $200 billion by 2030. Significant changes are already being implemented to enhance efficiency and convenience. In the railway sector, six independent enterprises have been created under “Uzbekistan Railways.” The company added 1,200 new freight cars, halving domestic freight transportation times. The digitalization of operations has streamlined processes, cutting the ordering stage for freight cars from seven days to three and reducing processing time from 72 hours to just 12 hours. Around Tashkent, train traffic has increased by 30%, and for the first time, the previously unprofitable enterprise posted a profit of 30 billion UZS ($2.3 million) this year. In the aviation sector, Uzbekistan Airways has seen flights increase by 25%, with domestic flights surging 2.5 times. The airline now holds a 20% share of international transport in Central Asia, and annual passenger traffic is projected to exceed 6 million. “Uzbekistan Airports” has also expanded services for planes, cargo, and passengers. Greater private sector involvement in airport management has yielded notable results, with 44 airlines currently operating in Uzbekistan. Cargo transportation through airports is expected to grow by 22% this year. “The economy and trade relations in our country are developing year after year. The population’s income and the tourism potential of the regions are also increasing. By 2030, we have set a goal to increase the volume of our gross domestic product to $200 billion. Therefore, we should pay special attention to the transport arteries,” Mirziyoyev said. To support these developments, a new version of the Law “On Railway Transport” has been signed, replacing the 25-year-old legislation. The updated law aims to attract private companies and investments to further develop infrastructure and accelerate industry growth.

2 months ago

The Amu Darya and the Aral Sea Crisis: Voices from the Heart of an Environmental Disaster

A documentary entitled Amu Darya: Missing to the River has been produced as part of Project Amu Darya. This initiative began in 2022, and is a collaboration between students from Karakalpakstan, Khorezm, and Oxford University in the UK. This research is important for several reasons. Firstly, the Aral Sea crisis, which is one of the most severe man-made ecological disasters in history, is under-reported by the global media. Secondly, the academic field is limited - outside of Uzbekistan, the historiography of the Aral crisis is still a developing field. Thirdly, the geographical scope of research is limited. Research is often focused on the Aral Sea itself, and does not take into account the impact on the wider region. Finally, there is no involvement of stakeholders. The personal experiences of those living along the Amu Darya River are often excluded from studies. [caption id="attachment_25946" align="aligncenter" width="1280"] Amu Darya: Missing to the River screening - image: TCA, Sadokat Jalolova[/caption] The Amu Darya is one of the two main rivers feeding the Aral Sea. Irrigation in the Amu Darya basin has been carried out for more than three thousand years. However, the current Aral Sea crisis was caused by mismanagement during the Soviet and post-Soviet eras. International donors have intensified their efforts to address the crisis. By December 2022, the UN Multi-Partner Human Security Trust Fund for the Aral Sea Region had raised over $16 million to support communities affected by the disaster. Established in 2018, the fund helps mitigate the environmental and social consequences of the crisis. President Mirziyoyev’s government has also lifted many data restrictions, allowing more research in the region. In 2017, the United Nations conducted the first socioeconomic survey of Aral Sea communities. [caption id="attachment_25948" align="aligncenter" width="884"] Aralkum Desert, former Aral Sea; image: TCA, Sadokat Jalolova[/caption] Central Asian countries are also cooperating to solve the problem of water level reduction in the Aral Sea. This year, as a result of the introduction of water-saving technologies on 55,000 hectares of rice fields in Kazakhstan, more than 200 million cubic meters of water were directed to the Aral Sea. The Times of Central Asia spoke with Annie Liddell, one of Project Amu Darya’s co-founders. She shared her thoughts about the inspiration behind the documentary. According to Liddell, the team were inspired by Svetlana Alexievich’s book Voices of Chernobyl. The author used oral interviews to highlight the personal stories behind the environmental disaster, making it more relatable. Liddell explained that the film aims to preserve the authenticity of interviewees’ voices and connect their stories of the Amu Darya’s past with the reality of its present state, which is a rapidly spreading desert. Local communities played a central role in the film’s creation. Students from Karakalpak State University and Urgench State University contributed to the research. Residents of Karakalpakstan and Khorezm also shared their personal stories, and provided insights into their culture and stability. [caption id="attachment_25949" align="aligncenter" width="1280"] Image: Project Amu Darya[/caption] The documentary depicts different historical periods and personal experiences. It covers...

2 months ago