• KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%
  • KGS/USD = 0.01144 0%
  • KZT/USD = 0.00213 0%
  • TJS/USD = 0.10693 0%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0%

Viewing results 1 - 6 of 146

The American-Uzbek Business Council Launches in Washington

Washington D.C. - At the launch of the American-Uzbek Business and Investment Council in Washington on April 6, the most revealing line came early. Ambassador Sergio Gor, the White House’s special envoy for South and Central Asia, and Co-Chair of the Council, did not begin with trade statistics or a list of deliverables. He began with a blunt assessment of how the region has been treated in Washington. “For too long, this region has not found the attention that it deserves,” he said. That observation is hardly novel to anyone who follows Central Asia. What made it notable was the speaker and the setting. U.S. policy toward the region has often been episodic, driven at different times by Afghanistan, by Russia, by sanctions enforcement, or by concern over Chinese influence rather than sustained by a coherent regional economic strategy. Gor’s remarks suggested an attempt, at least by the current administration, to correct for that pattern. He was equally clear, however, that this was a political opening, not yet a settled doctrine. “Take this opportunity that the next two and a half years present,” he told the room, an unusually candid acknowledgment that Washington’s attention may be real without yet being durable. His other key formulation explained how the administration wants to make that attention count. “Never before in the history of the U.S. government has commercial diplomacy been such a major pillar of U.S. foreign policy,” Gor said. Whatever the phrasing, the intended shift was clear. Washington is signaling that in Central Asia, economic statecraft will not be treated as a side channel to politics, but as a primary instrument of policy. In that sense, the new council is less a ceremonial bilateral upgrade than a mechanism for turning political attention into projects, financing, and institutional follow-through. [caption id="attachment_46673" align="aligncenter" width="1600"] Image: TCA[/caption] Saida Mirziyoyeva, head of Uzbekistan’s presidential administration and the Uzbek co-chair of the council, answered that shift with a line that was just as pointed. “We are no longer at the stage where we speak about potential,” she said. “We are at the stage where we must deliver.” For a government that has spent years presenting Uzbekistan as a reforming economy open to outside capital, that was a significant change of emphasis. The argument is no longer that Uzbekistan deserves credit for opening up but that it now expects to be judged by execution. Her most substantive remarks were about institutions rather than ambition. The council matters, she said, because it should help “solve problems quickly, without unnecessary bureaucracy” and ensure that “no project is lost along the way.” That is a more serious claim than the language of partnership that usually fills these forums. Mirziyoyeva was effectively acknowledging the gap that often opens between political endorsement and project delivery. Uzbekistan’s challenge is no longer simply attracting attention from foreign partners but getting projects through financing, approvals, and implementation without losing momentum inside the state apparatus. That urgency reflects the scale of the opportunity. Uzbekistan, with a...

Uzbekistan Targets $50 Billion in Investment with Financial Reforms

Uzbekistan is preparing to introduce Islamic finance services nationwide, with the first offerings expected in 2027. Under the country’s updated “Uzbekistan 2030” development strategy, at least three commercial banks are expected to provide Sharia-compliant financial services by the end of the decade, marking a significant shift in the structure of the banking sector. Against this backdrop, President Shavkat Mirziyoyev was briefed on March 25 on a broader set of initiatives aimed at strengthening the country’s investment climate. These include plans to establish the Tashkent International Financial Center, launch an International Center for Digital Technologies, and gradually introduce Islamic finance mechanisms. The presentation comes as Uzbekistan seeks to position itself more competitively in the global economy amid rising geopolitical uncertainty and intensifying competition for foreign investment. Officials said the country’s natural resources, economic potential, and ongoing reforms create favorable conditions for attracting international companies exploring new markets. Mirziyoyev stressed the need to act swiftly to capitalize on emerging opportunities, noting that attracting foreign investors requires modern infrastructure, a transparent business environment, and legal systems aligned with international standards. Uzbekistan aims to attract more than $50 billion in investment this year. A central component of the strategy is the Tashkent International Financial Center, which is expected to serve as a platform for new investment flows and long-term economic growth. By 2030, it is projected to attract an additional $20-25 billion, contribute up to 1% of annual GDP growth, and create as many as 15,000 highly skilled jobs. The center will operate under a special legal regime incorporating elements of the common law system of England and Wales, while allowing its governing bodies to adopt independent regulations. Plans include the establishment of a Tashkent International Commercial Court and an International Arbitration Center to handle disputes. Investors are expected to benefit from tax incentives, simplified visa procedures, and the ability to freely move and repatriate capital, alongside access to modern financial instruments, including digital assets. In parallel, Uzbekistan is developing the International Center for Digital Technologies under the Enterprise Uzbekistan brand. The center will function under a special legal framework expected to remain in place until 2100. Within a regulatory sandbox, companies will be able to test new technologies, pay salaries in foreign currency, and operate under international labor and data standards. The digital center will focus on artificial intelligence, data processing, research and development, and startup support. By 2030, it is expected to attract up to 1,000 companies, create more than 300,000 jobs, and generate export revenues of up to $5 billion. Several major international technology firms have already expressed interest in the initiative. The introduction of Islamic finance is another key pillar of the reform agenda. The proposed system includes instruments such as murabaha, mudarabah, musharakah, and Islamic leasing, all designed to comply with national legislation. Tax measures are also under consideration, including exemptions on certain transactions and investment income. To oversee the sector, an Islamic Finance Council will be established under the Central Bank, with similar bodies to be created within...

European Investment Fund Commits Over $200 Million to Tajik Airline

The European investment fund CFC s.r.o. plans to invest more than $200 million in the development of Tajikistan’s private carrier Shohin Airlines. The five-year agreement follows several months of negotiations between the parties. According to Shohin Airlines, the final round of talks took place on March 10, 2026, in Dushanbe. The meeting was attended by the airline’s chief executive officer, Zafar Ahmadzoda, and the founder of CFC s.r.o., Guntars Selikovs. One factor influencing the investor’s decision was the recent improvement in Tajikistan’s sovereign credit ratings by the international agencies Moody’s and S&P Global Ratings. This development has increased foreign partners’ confidence in the country’s economic stability. The parties agreed that the investment will be directed toward expanding the airline’s fleet, developing operational capacity, and modernizing infrastructure. “The signing of the investment agreement is an important milestone in Shohin Airlines’ development,” Ahmadzoda said, noting that the deal is expected to accelerate the company’s growth and expand its route network. Selikovs stated that negotiations lasted more than six months and included meetings in Dubai and several European countries. “This allowed us to thoroughly assess the company’s business model and market potential,” he said. Shohin Airlines is a private carrier focused on developing regional aviation in Tajikistan and neighboring markets. At present, the company operates specialized helicopter flights. The next stage of development will involve fleet expansion. In the near future, the airline plans to acquire an L-410 NG, a Czech-made turboprop aircraft designed for regional transport. CFC s.r.o., a fund registered in the Czech Republic, operates across markets in Europe, the Persian Gulf, and Central Asia. Its investment strategy focuses on fast-growing industries. The agreement with Shohin Airlines could become one of the largest private investments in Tajikistan’s aviation sector in recent years and may signal growing interest among international investors in the country.

Farmers, Courts, and Investors: Examining Recent Land Disputes in Uzbekistan

Uzbekistan’s agricultural sector is once again in the spotlight following a recent report by Human Rights Watch and the Uzbek Forum for Human Rights, which raised concerns about the treatment of cotton and wheat farmers under what it describes as a coercive state production system. At the same time, local agricultural representatives argue that the situation is more complex and that recent legal and institutional changes have improved farmers’ ability to defend their rights. The debate intensified earlier this year after complaints from farmers in parts of the Syrdarya region, particularly in the Xovos district, regarding land seizures linked to failure to meet so-called “normative yield” requirements. Komoliddin Ikromov, head of the Agrobiznes Association, has been among the most vocal local figures commenting on these developments. State Plan Abolished, but Normative Yields Remain According to Ikromov, it is important to distinguish between the former state production plan and the current regulatory framework. “There is no state plan now,” he said. “The state order was abolished in 2020. What exists today is the concept of rational land use. If a farm’s yield falls below the normative level for three consecutive years, then the land may be withdrawn, but only through a court decision.” While cotton state procurement was abolished beginning with the 2020 harvest, reforms affecting wheat and grain procurement were phased in and linked to the 2021 harvest. Ikromov referred to Article 36 of the Land Code, which sets out the procedure for termination of land-use rights where land is used irrationally or in violation of law. Detailed criteria — such as persistent underperformance relative to normative yield levels — are established in related regulatory acts rather than in the Land Code text itself. “Under current legislation, the khokim (local governor) cannot independently seize land,” Ikromov said. “The case must be submitted to the court. Only a court can decide.” Ikromov cited reforms adopted beginning in 2022 and subsequently strengthened by presidential measures in 2024, which expanded electronic auction procedures and curtailed direct administrative land allocation. Complaints from Farmers Beginning in January, the Agrobiznes Association started receiving complaints from farmers, mainly in Syrdarya. “I personally received about 50 to 60 appeals,” Ikromov said. “In total, there were more than 100 messages, mostly through Telegram.” According to him, many complaints concerned pressure to voluntarily surrender land leases through notarized statements. Farmers alleged that they were being encouraged or pressured to go to a notary and sign documents relinquishing their land. “These were not isolated cases,” he said. “In some districts, it was widespread. But after the issue was raised publicly, the process shifted. Now cases are going through courts.” Ikromov noted that unusual weather conditions contributed to the problem. Heatwaves and water shortages in 2024 made it difficult for some farmers to meet normative yield levels. In areas like Xovos, where soil fertility is relatively low, he said, agricultural production is already more challenging. Legal Process and Court Outcomes Following public attention, including Ikromov’s interview with the Uzbek outlet Kun.uz, land disputes increasingly...

Uzbekistan Hosts 336 U.S. Companies

As of December 1, 2025, Uzbekistan is home to 336 enterprises with U.S. capital participation, according to data released by the National Statistics Committee. The figures reflect the growing presence of American businesses in Uzbekistan amid ongoing efforts to strengthen bilateral economic ties. Of the total, 146 are joint ventures, while 190 are fully foreign-owned enterprises. Tashkent city accounts for the majority, hosting 237 companies, a testament to its role as Uzbekistan’s primary financial and commercial hub. Tashkent region follows with 31 companies, while Samarkand region hosts 19. Other regions with U.S.-capital enterprises include Bukhara (8), Kashkadarya and Navoi (6 each), Fergana and Jizzakh (5 each), Andijan, Syrdarya, and the Republic of Karakalpakstan (4 each), Namangan and Khorezm (3 each), and Surkhandarya (1). The latest data comes amid a broader institutional push to enhance Uzbekistan-U.S. economic cooperation. In November 2025, the government launched the Uzbekistan-U.S. Business and Investment Council, a new platform aimed at deepening trade and investment ties. The initiative was formalized by presidential decree on November 12, following agreements reached during President Shavkat Mirziyoyev’s official visit to Washington for the C5+1 summit. In a further step to facilitate business and tourism links, Uzbekistan introduced a visa-free regime for U.S. citizens starting January 1, 2026, allowing stays of up to 30 days.

U.S. Logistics Companies Look to Kyrgyzstan for Talent and Digital Solutions

Kyrgyzstan recently hosted CABXPO-2025, an international business and logistics forum that highlighted the country’s growing role as a point of interaction between Central Asia and global logistics markets. Held with the participation of the High-Tech Park, the forum brought together more than 500 companies from across the region. The Park, operational for over a decade, has become a key pillar of Kyrgyzstan’s expanding digital economy. One of the most notable aspects of CABXPO-2025 was the presence of senior executives and owners from major American freight companies. Their visit to Bishkek provided a platform for exchanging industry expertise, recruiting talent, exploring digital logistics solutions, and attracting Kyrgyz dispatchers to work with the United States freight market. According to Chubak Temirov, Deputy Director of the High-Tech Park, the forum stood out for its inclusion of investors from Silicon Valley, who expressed interest in identifying promising IT startups in Kyrgyzstan and other Central Asian countries. Nevertheless, a large portion of attendees represented transport and logistics businesses, particularly those operating in the U.S. market. Temirov noted that long-haul truck driving remains one of the most in-demand professions among Kyrgyz labor migrants heading to the U.S. and Europe. In recent years, several Kyrgyz nationals have successfully established their own transport companies in the U.S., managing fleets of hundreds of trucks. These examples of social mobility have become an important source of motivation for younger generations. [caption id="attachment_41411" align="alignnone" width="300"] @TCA[/caption] At the expo, several American companies with Kyrgyz roots were actively recruiting. Many base their dispatch operations in Bishkek or Osh while managing freight movements across the U.S. Forum participants were able to enroll in two-month dispatcher training programs, with company representatives offering employment upon completion. Aidar Abitov, a representative of a U.S.-based freight carrier, told The Times of Central Asia that his company operates more than 600 trucks and continues to expand. While the physical transportation takes place in the U.S., the company’s dispatch and technical support operations are located in Bishkek. Employees undergo training in areas such as cargo booking, transport coordination, and working with brokers, becoming official members of the U.S. company without leaving Kyrgyzstan. English proficiency remains a key requirement. The company’s medium-term goal is to support a fleet of 1,000 trucks. The forum also drew attention to IT innovations from Kyrgyzstan and Uzbekistan. A team from Tashkent showcased real-time software for monitoring cargo and vehicle fleets. The system tracks truck locations, vehicle condition, and driver behavior, including signs of fatigue or drowsiness. According to the developers, their solutions are already in use by thousands of logistics companies in the U.S., managing tens of thousands of trucks. One of the developers, Azimjon Akhmadjonov, told The Times of Central Asia that participating in CABXPO was primarily an opportunity to exchange ideas and build professional networks. He highlighted the role of such events in connecting Kyrgyz and Uzbek professionals working in the United States and in helping form a cross-border community of experts. The Kyrgyz government has positioned forums such as CABXPO as...