Employees in Uzbekistan to be Rewarded with Company Shares

Uzbekistan is to introduce an initiative to reward employees with shares in companies, under a  regulation  developed by The National Agency for Perspective Projects (NAPP). According to the NAPP, the transfer of shares to employees, as part of additional incentive programs, including bonuses, will help increase employee interest in the company's sustainable development and improve labor relations. The main goal of the initiative, modelled on ESOP (Employee Stock Ownership Plan) successfully applied in other countries, is to improve the population's welfare and develop the domestic capital market. Although joining in the Stock Ownership Plan will be voluntary, its development will be mandatory for joint stock companies with more than 50% state participation. The presidential decree on capital market development, issued in September 2023, envisioned the implementation of ESOP. Funds of up to one month's salary used to purchase shares will not be subject to personal income tax.

Kazakhstan Leads Central Asia in Global Knowledge Index

Kazakhstan performed best among Central Asian countries in the 2024 Global Knowledge Index, conducted by the United Nations Development Program in cooperation with the Mohammed bin Rashid Al Maktoum Knowledge Foundation. The country takes a respectable 74th place out of 133 countries; however, Kazakhstan is 60th out of the 61 countries with very high human development. The index considers seven indicators covering the countries' education, information and communication technology, and economic sectors. Uzbekistan is in 78th place, and the country ranks 14th out of 28 countries with high human development. Kyrgyzstan has a modest knowledge infrastructure. It is 84th in this rating and is a medium indicator of the country's knowledge infrastructure. The country ranks 5th out of 25 countries with medium human development. Tajikistan records the lowest result among the region's countries in the Global Knowledge Index. With 36.1 points, it takes 111th place among the 133 countries. Regarding medium human development, the country shows the same result as Kyrgyzstan.