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Energy

Uzbekistan and SOCAR Advance $2 Billion Ustyurt Energy Project

Uzbekistan’s Minister of Energy, Jorabek Mirzamahmudov, has outlined the country’s deepening energy cooperation with Azerbaijan’s state oil company SOCAR, highlighting progress on a recently signed Production Sharing Agreement (PSA) for the Ustyurt region and broader plans in petrochemicals and electricity trade. In an interview with Azerbaijani media outlet Report, Mirzamahmudov confirmed that Uzbekistan, SOCAR, and Uzbekneftegaz have already established a joint operating company to oversee the Ustyurt project. Fieldwork is expected to accelerate soon, with seismic surveys covering over 3,000 linear kilometers set to begin before year-end, followed by the drilling of the first exploration well. The PSA structure splits ownership equally between the state and investors, with SOCAR and Uzbekneftegaz as the primary partners. British energy major BP has shown interest and is in preliminary discussions to join the consortium. Azerbaijani President Ilham Aliyev stated in August that SOCAR had commenced work at an Uzbek oil field following the contract signing. He expressed optimism about potential discoveries within the next one to two years. Mirzamahmudov acknowledged that earlier data on Ustyurt had not suggested large hydrocarbon reserves but said that modern interpretation techniques have revealed greater potential. While refraining from early reserve estimates, he said SOCAR specialists are optimistic about promising oil indicators. If confirmed, Uzbekistan plans to build a new refinery. Total investment in the Ustyurt project is projected at around $2 billion. The minister said SOCAR and Uzbekneftegaz would finance the project’s initial stages, with BP possibly joining later. He did not rule out future collaboration with Azerbaijan on major fields like Shah Deniz or Absheron but emphasized that Uzbekistan’s current priority is increasing domestic production. In the long term, joint ventures in third countries are also being considered. Trans-Caspian Energy and Renewables Push Mirzamahmudov also discussed the proposed trans-Caspian high-voltage direct current (HVDC) cable project aimed at exporting renewable energy to Europe. A joint venture involving Azerbaijan, Kazakhstan, and Uzbekistan has already been formed. The Asian Development Bank is assisting in selecting a consultant for the project’s feasibility study. Several countries, including Saudi Arabia, have expressed interest. Uzbekistan currently generates more than 20% of its electricity from renewables and aims to increase that share to 54% by 2030. In the Ustyurt region alone, wind projects totaling over 2.5 GW are under development, with the first 100 MW already operational. The government also plans to deploy hybrid wind-solar-storage systems with a minimum capacity of 5 GW. Localization and Petrochemical Cooperation Mirzamahmudov noted that future oil and gas processing facilities could be localized in special economic zones in Bukhara, Karakalpakstan, and Khorezm, which are currently being evaluated for infrastructure and logistics readiness. A joint venture with SOCAR Trading is already exporting polymer products, and ongoing discussions aim to expand cooperation in fuel production and fertilizer manufacturing.

Digital Development

Uzbekistan Partners with NVIDIA to Build National AI Infrastructure and Training Centers

Uzbekistan is advancing its ambition to become Central Asia’s digital leader through a new strategic partnership with U.S. tech giant NVIDIA, the Ministry of Digital Technologies announced. Minister Sherzod Shermatov met with NVIDIA executives during his official visit to the United States to finalize large-scale initiatives aimed at developing the country’s artificial AI infrastructure and talent ecosystem. According to the ministry, the collaboration will focus on three core areas: knowledge exchange, education, and infrastructure development. NVIDIA will share international best practices in AI governance, ecosystem development, and industry expertise, using open, non-confidential data. A centerpiece of the partnership is the creation of an AI Excellence Center based on NVIDIA technologies and training programs. The center will focus on preparing educators and retraining specialists, with the broader goal of integrating AI curricula into Uzbekistan’s higher education system. Training programs will be supported by the NVIDIA Deep Learning Institute, which will offer technical courses and certification. By 2026, the Ministry of Digital Technologies plans to launch two national AI clusters with a combined computing capacity of up to one megawatt. One cluster will serve educational and research institutions, while the second will support projects in e-government, healthcare, and industrial automation. These initiatives will be carried out through separate agreements, aligned with existing infrastructure and export control requirements. Uzbekistan’s top universities are also set to receive NVIDIA-powered supercomputing systems. Funding for the project has already been secured, with procurement procedures scheduled for the fourth quarter of 2025. Additionally, the government will invest $3 million to establish an Industrial AI Excellence Center. This facility will apply NVIDIA technologies to key areas such as digital twins, robotics, and industrial automation. The center is expected to launch in 2026. The Ministry of Digital Technologies said the agreement represents “an important step in integrating global expertise in artificial intelligence and digital transformation with Uzbekistan’s national priorities for sustainable technological growth.” The announcement follows the successful conclusion of ICT Week Uzbekistan 2025, the country’s largest tech forum to date, held in September. The event drew over 20 official delegations, 300 companies, and 20,000 participants from more than 50 countries. With artificial intelligence and emerging technologies at the forefront, the forum reaffirmed Uzbekistan’s goal of becoming a regional digital hub and converting global partnerships into long-term innovation and investment pipelines. The Times of Central Asia recently spoke with Minister Shermatov about Uzbekistan’s efforts to attract investment, prepare its workforce for an AI-driven economy, and ensure data protection as digitalization accelerates.

Finance

ADB Approves $300 Million Loan to Support Small Business Growth in Uzbekistan

The Asian Development Bank (ADB) has approved a $300 million policy-based loan to boost the development of micro, small, and medium-sized enterprises (MSMEs) in Uzbekistan, with a particular focus on women-led businesses. The bank announced the decision on November 12. Of the total funding, $100 million will be provided on concessional terms to expand access to finance for MSMEs and strengthen Uzbekistan’s microfinance sector. The loan forms part of the second phase of the ADB’s Inclusive Finance Sector Development Program, which builds on earlier efforts to improve the legal and institutional framework for inclusive finance in the country. Key reforms have included raising the ceiling on microloans, modernizing microfinance regulations, joining the Women Entrepreneurs Finance Code, and introducing frameworks for Islamic microfinance. “ADB is proud to support Uzbekistan’s transition to a more inclusive and market-based financial system,” said ADB Country Director for Uzbekistan Kanokpan Lao-Araya. “This program will help unlock access to finance for the self-employed and microentrepreneurs, promote gender equality, and strengthen consumer protection in the financial sector.” The latest phase of the program introduces new policy measures aimed at enhancing responsible lending, regulating emerging products such as “buy now, pay later” services, and strengthening digital financial supervision. It also advances gender equality by supporting sectoral policies that implement gender-based financing quotas and improve the reporting of sex-disaggregated data. An evaluation of Uzbekistan’s National Financial Inclusion Strategy (2021-2023) revealed that 60 percent of adults now hold accounts with formal financial institutions, a significant gain attributed to rapid digitalization. The new program aims to further modernize the microfinance sector by allowing the creation of deposit-taking microfinance banks, two of which have already received preliminary licenses. This year marks the 30th anniversary of ADB-Uzbekistan cooperation. Since 1995, the bank has committed $14.6 billion in loans, grants, and technical assistance to the country. Uzbekistan has also been selected to chair the ADB Board of Governors for 2025-2026. Samarkand is set to host the ADB’s 59th Annual Meeting in May 2026.

Afghanistan

Afghanistan Seeks Alternatives to Pakistan Trade; Fallout Likely for Central Asia

Afghanistan must look for “alternative trade routes” that bypass neighboring Pakistan, a senior Afghan official said Wednesday. The remarks reflect deepening tension after border clashes between the two countries and are a blow to some ambitious trade projects that would link South Asia and Central Asia. At the same time, the development could mean that Afghanistan will increasingly look to Central Asia for trade links as it cuts off business with Pakistan. “All Afghan traders and industrialists should turn to alternative trade routes instead of Pakistan,” said Abdul Ghani Baradar, Afghanistan’s deputy prime minister for economic affairs. “These routes have not only harmed our traders but have also caused difficulties for markets and the general public. I strongly urge all traders to implement alternative options for imports and exports as soon as possible.” Baradar also criticized what he called the poor quality of medicine being imported from Pakistan and said medicine importers have three months to close accounts there. He said that if Pakistan wants to reopen trade routes with Afghanistan, it must provide solid guarantees that they won’t be closed again. Pakistan has said it needs security guarantees to normalize trade. The minister’s comments were reported by TOLOnews, a Kabul-based outlet, as well as other regional media organizations. Afghanistan and Pakistan share a 2,600-kilometer border and trade was severely disrupted after clashes between the two sides last month. Pakistan accuses Afghanistan of providing sanctuary to militants who carry out attacks against Pakistani security forces, an allegation that the ruling Taliban in Afghanistan denies. Several big Central Asia-South Asia projects would require close collaboration between Afghanistan and Pakistan. They are the Trans-Afghan Railway, the TAPI natural gas pipeline and the CASA-1000 electricity project. Three Central Asian countries – Uzbekistan, Turkmenistan and Tajikistan – have borders with Afghanistan and share ethnic ties with minority populations there. In late October, the city of Shymkent in southern Kazakhstan, near the border with Uzbekistan, hosted a forum during which Afghan and Kazakh officials and business leaders discussed expanding trade. Deals worth several hundred million dollars were announced.

Science

Ziroat Mirziyoyeva Named Among World’s Top 100 Women in Oncology

Ziroat Mirziyoyeva, the wife of Uzbekistan's President Shavkat Mirziyoyev, has been named one of the 100 most influential women in oncology by the international platform OncoDaily. Mirziyoyeva was recognized for her work as Chair of the Board of Trustees of the Zamin International Public Foundation, where she has supported initiatives focused on early detection and treatment of childhood cancers. Experts cited by OncoDaily highlighted her role in promoting international collaboration in pediatric oncology and advancing global efforts to improve survival rates for children with life-threatening illnesses. According to OncoDaily, Mirziyoyeva has emerged as a leading advocate for expanding access to cancer care for children in low and middle-income countries, where survival rates remain disproportionately low. The platform noted her leadership at a high-level forum at the United Nations General Assembly in September 2025, titled “Global Movement to Improve Survival and Reduce Suffering of Children with Cancer and Other Life-Threatening Diseases.” The event, co-hosted with the World Health Organization and St. Jude Children’s Research Hospital, called for urgent global action to increase survival rates for pediatric cancers. OncoDaily stated that her efforts have helped place Uzbekistan on the global health policy agenda, aligning the country with international goals to raise childhood cancer survival rates to 60 percent by 2030.

Foreign Affairs

“President of Peace” or “President of the World”? Mirziyoyev’s Interpreter Draws Attention During Comments on Trump

President Shavkat Mirziyoyev’s remarks at the recent C5+1 summit in Washington drew international attention following a translation error reported in several foreign media outlets. According to his press service, Mirziyoyev told U.S. President Donald Trump that people in Uzbekistan refer to him as a “president of peace,” citing what he described as Trump’s role in helping resolve multiple armed conflicts. However, the simultaneous interpreter rendered the phrase as “president of the world,” leading international media, including Reuters, to report that Mirziyoyev had used that expression. The two leaders had previously met on 23 September at the United Nations headquarters. During that meeting, Mirziyoyev congratulated Trump for contributing to the resolution of “seven conflicts,” specifically mentioning the settlement between Azerbaijan and Armenia. The Uzbek news outlet Kun.uz later published a full translation of the conversation in Uzbek. According to that report, Mirziyoyev also stated that Trump was deserving of a Nobel Prize, although this remark was not translated during the meeting. The renewed attention came as Trump announced what he described on Truth Social as an “incredible Trade and Economic Deal” between the United States and Uzbekistan. According to the U.S. president, Uzbekistan has committed to investing and purchasing nearly $35 billion in key American sectors over the next three years, with expected commitments exceeding $100 billion over the next decade. Trump specified that the sectors include critical minerals, aviation, automotive parts, infrastructure, agriculture, energy, chemicals, and information technology. He thanked Mirziyoyev and said Washington looks forward to a “long and productive partnership.” On the same day, Mirziyoyev joined the leaders of Kazakhstan, Kyrgyzstan, Tajikistan, and Turkmenistan at the C5+1 summit held at the White House and chaired by Trump. During the session, the Uzbek president proposed the creation of a permanent C5+1 Secretariat that would rotate among member states, as well as the establishment of a ministerial coordinating council on investment and trade. He also suggested forming a Central Asian Investment Partnership Fund and a special committee on critical minerals. Additional proposals included collaboration on agricultural technologies, coordination on transport corridors linking Central Asia with the South Caucasus and Europe, and the organization of a cultural heritage exhibition in the United States. Uzbekistan also offered to host the next C5+1 summit in Samarkand.