Uzbekistan - The Times Of Central Asia

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Tashkent International Investment Forum

Rail Reform and Regional Corridors Put Uzbekistan at the Center of Central Asia’s Logistics Map

At the Tashkent International Investment Forum, officials and transport executives discussed railway reform and new corridor projects, with private investment as a main point. World Bank Senior Transport Specialist Mansur Bustoni described rail as “essential” for Uzbekistan, which depends on land routes for access to seaports and export markets. The World Bank wants to help turn Uzbekistan Railways from a state monopoly into “a commercial bankable enterprise,” he told the forum. Uzbekistan Railways has about 4,700 route kilometers, according to Bustoni. The system carries around 60 million tons of freight and 15 million passengers a year and contributes about 8% of GDP. Much of that freight is linked to exports. The World Bank is supporting 44 activities across seven reform programs. Bustoni listed legal separation inside Uzbekistan Railways, financial reform, operational efficiency, and investment planning among the main areas. Each activity has been ranked by priority, he added. Tariff reform was one of Bustoni’s main topics. He called the proposed change “not a price hike.” The aim is to replace ad hoc increases with rules-based pricing. Cost-reflective tariffs would give the railway company more predictable revenue and reduce state cross-subsidies. Bustoni also cited capital-market plans. Uzbekistan’s infrastructure company is part of the National Investment Fund of the Republic of Uzbekistan (UzNIF), which he described as a $2.4 billion fund managed by Franklin Templeton, with a planned dual listing in London and Tashkent. The railway sector recorded a roughly $188 million net loss in 2023, reached break-even in 2024, and is expected to post a positive $138 million result in 2025, he added. [caption id="attachment_50833" align="aligncenter" width="2560"] Image: TCA[/caption] Transport Corridor Europe-Caucasus-Asia (TRACECA) Secretary General Jasurbek Choriyev linked corridor development to Uzbekistan’s national priorities. He cited double-digit growth in passenger air traffic over five years and 15 million tourists last year, attributing the figures to national data and analysts at Airports Council International and the World Bank. Uzbekistan’s aircraft fleet has expanded to more than 100 planes from about 40 to 50 in recent years. A target of 188 aircraft by 2030 could be reached earlier, Choriyev noted. Uzbek airlines are also carrying more freight on the China-Europe route, driven in part by e-commerce. Choriyev described rail as the backbone of national connectivity, carrying about 90% of internal and external traffic. He pointed to the China-Kyrgyzstan-Uzbekistan-Iran railway and gave 2030 as the expected completion date, with 2028 or 2029 possible. He also cited the Trans-Afghan corridor as a route to Pakistan. About 52% of Uzbekistan’s rail network is electrified, with a target of 70% by 2030. Innokenty Ivanov, a principal consultant at Freshfields, said Uzbekistan’s railway reform is creating legal routes for private investment through market mechanisms and public-private partnerships. The reform covers the reorganization of Uzbekistan Railways as a holding company and a legal framework for private investment and independent operation. Ivanov compared the process with Germany, where railway reform led to long-term contracts between the government and the infrastructure company. Financing tied to measurable targets gives investors more certainty...

Connectivity

EU Launches Platform to Mobilize Up to €2 Billion for Europe–Central Asia Connectivity

The European Commission launched a Connectivity Agenda Platform on June 23, 2026, and concluded statements of intent with international financial institutions expected to mobilize up to €2 billion ($2.3 billion) for transport, border-crossing and trade-facilitation projects across the Black Sea region and the South Caucasus. The initiative was unveiled at a high-level ministerial meeting in Brussels, hosted by European Commissioner for Enlargement Marta Kos, Commissioner for International Partnerships Jozef Síkela, and Commissioner for Sustainable Transport Apostolos Tzitzikostas. The meeting brought together transport ministers and senior officials from EU member states, as well as representatives from Armenia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Türkiye, Ukraine, and Uzbekistan, alongside international lenders, to advance connectivity projects under the EU’s Global Gateway strategy. The new platform is designed to coordinate investments and policy actions across transport, energy, digital connectivity, and trade. Participants also agreed to improve the operational efficiency of the Trans-Caspian Transport Corridor, a wider framework that includes the Trans-Caspian International Transport Route, or TITR, also known as the Middle Corridor. The route links China and Europe through Central Asia and the South Caucasus, offering an alternative to transport routes crossing Russia. The European Commission said the expected financing would support transport infrastructure, border-crossing modernization, and trade-facilitation projects aimed at improving freight movement across the corridor. “The Trans-Caspian Transport Corridor is becoming a vital bridge between Europe and Asia,” Síkela said, adding that the investments would help make the route faster, more reliable, and better integrated. Tzitzikostas said stronger transport links were critical for economic competitiveness and regional resilience. The platform’s launch came during Kazakh President Kassym-Jomart Tokayev’s official visit to Brussels, where he met with European Council President António Costa and European Commission President Ursula von der Leyen. In an EU–Kazakhstan joint statement, the leaders reaffirmed the strategic importance of the Trans-Caspian corridor and pledged deeper cooperation under the EU’s Global Gateway strategy. They also highlighted the EU’s role as Kazakhstan’s largest trade and investment partner and agreed to deepen cooperation in critical minerals, energy, transport, digitalization, and emerging technologies. Speaking at the Kazakhstan-EU roundtable in Brussels, Tokayev said Kazakhstan was investing heavily in infrastructure to position itself as a regional logistics hub connecting Europe, Central Asia, China, the Caucasus, and the Middle East. According to Tokayev, cargo volumes along the Middle Corridor have risen fivefold over the past six years, from 0.8 million tons to 4.1 million tons annually, with Kazakhstan targeting a capacity of 10 million tons. He said Kazakhstan has invested more than $35 billion in transport and logistics infrastructure over the past 15 years, with the Caspian ports of Aktau and Kuryk serving as major transit gateways. Tokayev also welcomed logistics agreements worth nearly $1 billion signed on June 23 by the Development Bank of Kazakhstan: one with the European Investment Bank, and a separate agreement with a banking syndicate including Commerzbank, JPMorgan Chase, and Standard Chartered, backed by guarantees from the Multilateral Investment Guarantee Agency (MIGA). A day earlier, Kazakhstan and European partners announced four transport-related agreements worth...

Surrogacy Recruitment

Central Asian Women Recruited Into Georgia’s Surrogacy Market via Social Media

Women from Central Asia are being recruited into Georgia’s surrogacy market through social media, adding a new labor channel to an industry already under pressure from foreign demand and inadequate supervision. A University of Oxford study published in Mobilities identifies Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan in that recruitment chain. The author, Dr. Polina Vlasenko of Oxford’s Centre on Migration, Policy and Society (COMPAS), carried out fieldwork in Kazakhstan and Georgia between 2023 and 2024, drawing on more than 100 interviews across the surrogacy and egg donation market. Georgia has allowed surrogacy since 1997. Under Article 143 of the Law of Georgia on Health Care, in vitro fertilization (IVF) may involve a surrogate mother if a woman does not have a uterus and the couple gives written consent. If a child is born, the couple is recognized as the parents. The donor or surrogate mother has no right to be recognized as a parent. That provision gives intended parents direct legal certainty in Georgia, unlike jurisdictions where legal parenthood may require a separate post-birth court process. For women recruited from Central Asia, the difference is in the hidden parts of the process. Opaque recruitment methods can lead into surveillance-style accommodation, while agents often mediate access to the clinic and to payments that may be delayed or disputed. According to a 2020 statement by Georgia’s Ministry of Justice, 98% of people using surrogacy services in Georgia were foreign-citizen couples, while 100% of surrogate mothers were Georgian-citizen women. Before the war, Chinese nationals accounted for 14% of people pursuing surrogacy in Georgia, and Chinese social media later carried accounts of newborns on flights from Tbilisi to Urumqi. Until Russia’s full-scale invasion of Ukraine in February 2022, Ukraine was considered Europe’s biggest surrogacy hub. By contrast, in December of that year, a Russian law barred foreign clients and stateless people from using the country’s surrogacy system, limiting access to Russian citizens. By 2022, Georgia was already gaining momentum as a reproductive tourism destination, but the war in Ukraine accelerated that rise. As demand grew, recruitment networks began reaching women in Central Asia through social media and private messaging channels. For women recruited from Central Asia, the complexity lies in the online posts and private contacts that turn economic need into pregnancy abroad. Russian-language advertising often uses “surmama,” a shorthand for surrogate mother that now sits inside the market’s online vocabulary. Public posts tied to Georgia programs refer to Tbilisi and Bishkek. Some use Kyrgyz-language wording and hashtags for Kyrgyzstan. The communication network is plentiful in posts yet sparse in detail, as a stack of cash appears in one Instagram post while other accounts use the polished visual language common to fertility advertising online, where smiling young women and clean graphics make paid pregnancy look simple. One Instagram account advertising surrogacy services in Georgia directs users to a WhatsApp number linked to a Kazakhstan-based contact. The account does not establish whether that person recruits women directly or represents a clinic. The WhatsApp profile image offers...

World Cup 2026

World Cup: Ronaldo Makes History as Portugal Rout Uzbekistan 5-0

The Group K match between Uzbekistan and Portugal in Houston turned into a record-breaking night for Cristiano Ronaldo, as the European side coasted to a 5-0 victory. Portugal and Uzbekistan had both made unconvincing starts to the tournament. Uzbekistan, playing at the World Cup finals for the first time, lost 3-1 to Colombia. Portugal, meanwhile, dominated their match against DR Congo but failed to hold on to their lead and drew 1-1. They were in no mood to drop more points against the World Cup debutants. Before the match, Portugal head coach Roberto Martinez made it clear that he did not regard his team’s opening result as a setback. “After the draw with DR Congo, nothing changed for us: there are three matches in the group stage, and the first one is part of the process,” the Portugal coach said. Uzbekistan head coach Fabio Cannavaro, for his part, said his players would try to minimize the mistakes that led to their defeat against Colombia. “Our only way to achieve a positive result is through tactics, discipline, and hard work on the pitch,” Cannavaro said. In practice, however, Cannavaro’s tactics did not work, and it was a case of “Houston, we have a problem” as Portugal pinned their opponents back from the kick-off. It took only six minutes for Ronaldo to score the first goal against Uzbekistan, finishing a cross into the penalty area. With that goal, Ronaldo became the second-oldest goalscorer in World Cup history, behind Cameroon’s Roger Milla, who scored his final World Cup goal at the age of 42. The Portugal captain, 41, became the first player to score at six World Cups and moved past Eusebio as Portugal’s all-time leading World Cup scorer. Ten minutes later, Portugal doubled their lead with a cleverly worked free kick. At first, it looked as though Ronaldo was taking an age to prepare to shoot, but Nuno Mendes instead struck the ball, catching Uzbekistan goalkeeper Abduvohid Nematov by surprise. After that, Uzbekistan became slightly more active in attack. Midway through the first half, Azizjon Ganiev tried his luck from long range, sending the ball into the top corner of Portugal’s goal. But Uzbekistan’s celebrations did not last long: after a VAR review, the referee disallowed the goal for a foul by Abbosbek Fayzullaev on João Cancelo in the build-up. Portugal then quickly took the game beyond Uzbekistan’s reach, and near the end of the first half Bruno Fernandes delivered a precise pass to Ronaldo, who was left unmarked in the penalty area and calmly shot into the bottom corner. Portugal eased the pace slightly in the second half but still managed to score twice more. Portugal’s fourth came on the hour, when a Bruno Fernandes corner was diverted in for an Abduvohid Nematov own goal. Late in the match, substitute Rafael Leao picked up a loose ball near the edge of the penalty area and, without hesitation, struck a powerful and accurate shot into the top corner to make it 5-0....

Water Security

Opinion: The Amu Darya Stress Test – Uzbekistan, Turkmenistan, and the Politics of Agricultural Adaptation

Central Asia’s water crisis is usually discussed as a problem of rivers, reservoirs, and diplomacy. But in 2026, the Amu Darya is also becoming something else: a test of state adaptation. The river basin entered the irrigation season under acute pressure. According to data cited by Kabar, the flow of the Amu Darya stood at only 66.8% of its normal level as of February 11, compared with 101.8% a year earlier. The Times of Central Asia previously reported that the river’s flow could fall to around 65% of its historical norm, raising risks for food security and agriculture across downstream states. Meanwhile, Afghanistan’s Qosh-Tepa Canal is advancing. The canal, one of the Taliban government’s most ambitious infrastructure projects, is designed to divert water from the Amu Darya to irrigate large areas of northern Afghanistan. Carnegie Politika has estimated that, once fully operational by 2028, it could take up to 10 cubic kilometers of water annually from the river. For Uzbekistan and Turkmenistan, the implications are direct. Both rely heavily on Amu Darya water. Both inherited agricultural systems shaped by Soviet-era irrigation, cotton production, and centralized planning, and both are now facing a combination of climate stress, upstream extraction, and aging water infrastructure. Yet their responses are increasingly different. The emerging contrast is not simply between two agricultural policies; it is between two institutional logics: adaptation and control. Uzbekistan’s Adjustment Strategy Uzbekistan is one of the most exposed countries in the region. Its population is large, its agriculture remains water-intensive, and some of its most vulnerable regions, including Khorezm and Karakalpakstan, sit near the lower reaches of the Amu Darya. For decades, the old model relied on large-scale irrigation, cotton, rice, and the assumption that water would continue to move through the regional system much as it had before. That assumption is now weakening. Tashkent’s response remains costly and far from complete. Uzbekistan still faces serious water losses, degraded land, salinization, and uneven implementation of reform. But the direction of travel is visible: the state is trying to reduce exposure by changing crops, infrastructure, and diplomatic behavior. Rice is one example. Traditional flooded rice cultivation is extremely water-intensive, and water shortages have already pushed some Uzbek rice farmers away from traditional Amu Darya regions toward areas with more stable access to water. Uzbekistan has also begun experimenting with less water-intensive methods. In Karakalpakstan, UNDP has supported the introduction of upland rice, which can reduce water consumption by up to 40% compared with traditional rice cultivation. Separately, Uzbekistan has announced plans to expand resource-efficient rice cultivation, including drip irrigation and drought-resilient rice varieties. The state is no longer treating the old water-intensive model as untouchable. In 2026, Uzbekistan allocated significant public financing for water-saving technologies. Government-linked reporting has described plans to expand drip irrigation, sprinkler systems, and laser land leveling across hundreds of thousands of hectares, with a broader target of expanding water-saving technologies to 3.5 million hectares by 2028. Laser leveling may sound technical, but its use reflects a shift from simply demanding more...

International Monetary Fund

IMF Growth Forecast for Uzbekistan Warns of Inflation and Global Risks

Uzbekistan’s economy performed strongly in 2025, with the International Monetary Fund (IMF) reporting growth across sectors. Inflation fell and the fiscal deficit narrowed. The Fund urged policymakers to keep monetary policy tight and continue reforms as geopolitical tensions and global uncertainty add risks. Uzbekistan’s real GDP expanded by 7.7% in 2025, driven by strong domestic consumption and investment. The unemployment rate fell by 0.7 percentage points from the previous year to 4.8%. Growth was supported by rapid expansion in services and construction. Consumer price inflation declined from 9.8% at the end of 2024 to 7.3% at the end of 2025. The IMF attributed the improvement to the fading impact of energy price increases introduced in 2024 and the appreciation of the Uzbek som against the U.S. dollar. Tight monetary policy by the Central Bank also helped bring down inflation. Core inflation declined during the year. External balances improved as the current account deficit narrowed to 3.9% of GDP. Strong exports and remittance inflows supported the decline. High commodity prices also helped. International reserves remained at comfortable levels, equivalent to around 13 months of imports. The fiscal deficit fell to 2.1% of GDP, below the government’s target of 3%. The IMF expects economic growth to remain resilient in 2026, forecasting GDP growth of 6.8%. Continued reforms and investment are expected to support activity. Remittances and elevated gold prices should also help sustain growth. The Fund projects growth will moderate to around 6% in 2027 as domestic demand gradually slows. Despite the positive outlook, risks have increased because of the conflict in the Middle East and its potential impact on the global economy. Uzbekistan has limited direct trade and remittance links with countries affected by the conflict. However, higher oil prices and trade disruptions could affect the country indirectly through key trading partners. Weaker global growth could add further pressure. The IMF warned that inflation is likely to remain above the Central Bank’s 5% target in 2026. Higher global oil prices, combined with strong domestic demand, could slow disinflation. The Fund recommended that the Central Bank keep its policy rate at a restrictive level and tighten monetary policy further if inflationary pressures persist. The Fund advised the government to avoid spending increases beyond those already planned in the budget. Any support measures linked to the Middle East conflict should be temporary and targeted toward vulnerable groups, rather than broad subsidies or price controls. The IMF called for faster privatization of state-owned commercial banks and enterprises. It also recommended stronger corporate governance and continued work to improve fiscal transparency and debt management. The Fund highlighted labor market challenges, including low female labor force participation and skills mismatches. High levels of informal employment remain another concern. Further progress in governance reform and competition policy could help attract additional private investment. The IMF said Uzbekistan’s commitments linked to accession to the World Trade Organization could also support long-term economic growth. The country enters 2026 from a position of economic strength, but maintaining stability and continuing...