The Asian Development Bank (ADB), together with ACWA Power Company, Sumitomo Corporation, Chubu Electric Power Co. Inc., and Shikoku Electric Power Co. Inc., has signed a landmark financing package to build two utility-scale solar power plants with battery energy storage systems (BESS) in Uzbekistan. The Samarkand 1 and 2 Solar PV and BESS Projects will be developed across the
On October 27–28, a delegation of Uzbekistan led by Deputy Prime Minister Jamshid Khodjaev paid a working visit to Saudi Arabia aimed at deepening investment and industrial cooperation. During meetings with the Minister of Investment of Saudi Arabia, Khalid Al-Falih, and senior executives of leading Saudi companies, the parties discussed prospects for expanding collaboration in
Kyrgyzstan now has its own gold storage facility that meets international standards and can hold up to a thousand tons of gold. Previously, the state had to store its gold reserves abroad. This was announced by President Sadyr Japarov at the opening ceremony of the new building of the National Bank of the Kyrgyz Republic
At the initiative of the President, Uzbekistan has identified key measures to advance the development of green energy, increase the share of renewable energy sources (RES), and reduce harmful emissions into the atmosphere. In line with these objectives, large-scale work is being carried out in the country. According to the Ministry of Ecology, Environmental Protection
China’s Hunan Junxin Environmental Protection Co. Ltd. has launched the construction of a solid municipal waste processing plant in Karakol, the main city of Kyrgyzstan’s Issyk-Kul region. This is Hunan Junxin’s third waste-to-energy project in Kyrgyzstan, following similar projects in Bishkek and Osh. At the construction launch ceremony in Karakol on October 25, Chairman of
A trade and economic mission from Kazakhstan, organized by the Ministry of Trade and Integration of Kazakhstan and QazTrade JSC, took place in Tashkent last week. Currently, 876 Kazakh enterprises operate in Uzbekistan, accounting for approximately $500 million in trade turnover across 270 categories. The mission included Kazakh companies representing construction materials, food and light
The Eurasian Development Bank (EDB), in collaboration with the Public-Private Partnership Centre (PPP Centre) at the National Investment Agency under the President of the Kyrgyz Republic, has opened a branded lecture hall at one of the country’s leading universities, Kyrgyz-Russian Slavic University (KRSU). The new facility was established under the EDB Technical Assistance Project to
On October 27, President Shavkat Mirziyoyev chaired a government meeting to review the expected results of economic development in the current year and the main macroeconomic indicators for 2026. In January-September of this year, the country’s economy grew by 7.6 percent, which significantly exceeds the forecast. Industrial production increased by 6.8 percent, construction by 14.2
The National Association of Oilseed Processors of Kazakhstan and Fayz Oil Imports (Uzbekistan) have signed a memorandum of cooperation. Under the agreement, the Uzbek company during a year plans to purchase $60 million worth of sunflower oil from Kazakh processing plants that are members of the association. According to the Kazakh Ministry of Agriculture, Uzbekistan
The investment strategy and economic priorities of Kazakhstan were presented to the international business community at an exclusive panel session titled “Kazakhstan – Diplomacy & Trade: Middle Power Countries”, held on October 20-21 as part of the Future Resilience Forum 2025 in London. The Kazakh delegation was led by Alibek Kuantyrov, Deputy Minister of Foreign
According to the latest figures published by the National Statistical Committee of Kyrgyzstan, the country’s foreign trade continues to decline, with a decrease in both exports and imports. In January-August 2025, Kyrgyzstan’s foreign trade decreased by 9.1% compared to the same period in 2024, amounting to $9.8 billion. Exports fell by 23.7% to $1.7 billion
From September 1 to October 19, 2025, Kazakhstan exported 1.6 million tons of grain of this year’s harvest, a 14% increase compared to the same period last year (1.4 million tons), according to the Ministry of Agriculture. Kazakh grain is exported by rail transport. The largest growth in export volumes was to countries of Central
The Central Asia Capital investment fund and the Ministry of Digital Development and Innovative Technologies of Kyrgyzstan have signed a memorandum aimed at establishing the country’s first innovative technology hub, Central Asia Hub, a platform for the development of high technology and localization of production. According to Central Asia Capital, the new hub will span
As partnership among Turkic states actively strengthens, direct business communication is more important than ever. That is why the key sector event — the Central Asia Oil & Gas Forum — will take place on October 30-31 in Tashkent, initiated by GLENMAR. This is the only platform that unites the entire value chain: • Producers:
On October 21, President Shavkat Mirziyoyev chaired a videoconference to discuss the accelerated implementation of artificial intelligence technologies in public administration, economic sectors, and the country’s regions. “Today, humanity is confidently entering a new era of civilization – the era of artificial intelligence. Regardless of the field in which change occurs, those who show persistence,
On October 21, President Shavkat Mirziyoyev visited the IT Park in Mirzo Ulugbek district of the capital and took part in the groundbreaking ceremony for the construction of the project’s second phase. Two years ago, as part of the first phase, implemented through investments totaling $200 million, six office buildings ranging from 20 to 25
A plant producing hot briquetted iron (HBI) will be constructed in Rudny in Kazakhstan’s Kostanay region to become one of the largest next-generation metallurgy facilities in Central Asia and the first HBI plant in Kazakhstan. On October 20, Eurasian Resources Group (ERG), a global metals and mining company headquartered in Luxembourg, signed a contract with
On October 21-23, the largest event in Uzbekistan’s hospitality industry — “HoReCa Expo Uzbekistan 2025” — is taking place in Tashkent. The event is organized by the Tourism Committee and the Hoteliers Association of Uzbekistan. This specialized international exhibition brings together representatives from the hotel and restaurant sectors, equipment suppliers, technology providers, designers, architects, investors,
A new evaluation by the Asian Development Bank’s (ADB) Independent Evaluation Department (IED) calls for a strategic shift in ADB’s engagement in Kazakhstan. ADB should leverage its successful project-level investments and fully tap its diverse tools—lending modalities, knowledge work, capacity building, and policy dialogue—for an integrated approach that drives deeper engagement and tackles both urgent
The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to €5 million to the Global Export Company, one of the leading exporter of agricultural commodities in Uzbekistan, to support the company’s strategic shift from traditional commodity trading to processing operations that add value. The financing will contribute to Global
