Uzbekistan and Turkmenistan agree to establish Supreme Council of Strategic Partnership
President Shavkat Mirziyoyev held talks with Turkmenistan’s President Serdar Berdimuhamedov in Avaza on October 8.
The two sides agreed to establish a Supreme Council of Strategic Partnership and develop an action plan to increase bilateral trade.
They also plan to expand cooperation in industry, energy, transport, agriculture and water management:
https://www.spot.uz/en/2026/10/08/uz-tm-treaty/
➖ @spotuzenglish ➖
President Shavkat Mirziyoyev held talks with Turkmenistan’s President Serdar Berdimuhamedov in Avaza on October 8.
The two sides agreed to establish a Supreme Council of Strategic Partnership and develop an action plan to increase bilateral trade.
They also plan to expand cooperation in industry, energy, transport, agriculture and water management:
https://www.spot.uz/en/2026/10/08/uz-tm-treaty/
➖ @spotuzenglish ➖
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UzPost plans to receive a 360 billion soum interest-free loan from Wildberries
UzPost plans to open a 360 billion soum interest-free credit line from Wildberries, State Assets Management Agency Director Sokhibjon Murodov said.
The funds will not necessarily be borrowed in full and will be used only when needed. Each expenditure will be assessed for efficiency.
Murodov also said five Wildberries representatives have joined UzPost’s supervisory board after being invited by the agency.
The board will focus on strategic decisions and will not interfere in the company’s day-to-day operations:
https://www.spot.uz/en/2026/10/08/uzpost-wildberries/
➖ @spotuzenglish ➖
UzPost plans to open a 360 billion soum interest-free credit line from Wildberries, State Assets Management Agency Director Sokhibjon Murodov said.
The funds will not necessarily be borrowed in full and will be used only when needed. Each expenditure will be assessed for efficiency.
Murodov also said five Wildberries representatives have joined UzPost’s supervisory board after being invited by the agency.
The board will focus on strategic decisions and will not interfere in the company’s day-to-day operations:
https://www.spot.uz/en/2026/10/08/uzpost-wildberries/
➖ @spotuzenglish ➖
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US, South Korean and Chinese companies show interest in UzAuto Motors privatization
Companies from the United States, South Korea and China have expressed interest in the privatization of UzAuto Motors, State Assets Management Agency Director Sokhibjon Murodov said on October 8.
The privatization process will be conducted through an open international tender and will not favor any specific investor. SAMA is currently preparing the privatization plan and will later select an international consultant to organize the tender.
Potential buyers will be invited to submit non-binding and binding offers, with negotiations to follow with investors offering the most favorable terms:
https://www.spot.uz/en/2026/10/08/uzauto-motors/
➖ @spotuzenglish ➖
Companies from the United States, South Korea and China have expressed interest in the privatization of UzAuto Motors, State Assets Management Agency Director Sokhibjon Murodov said on October 8.
The privatization process will be conducted through an open international tender and will not favor any specific investor. SAMA is currently preparing the privatization plan and will later select an international consultant to organize the tender.
Potential buyers will be invited to submit non-binding and binding offers, with negotiations to follow with investors offering the most favorable terms:
https://www.spot.uz/en/2026/10/08/uzauto-motors/
➖ @spotuzenglish ➖
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UzSAMA begins preparations for Uzbekistan GTL privatization and IPO
Uzbekistan has begun preparations to privatize its 100% state-owned Uzbekistan GTL plant, with work also underway on an initial public offering (IPO), State Assets Management Agency Director Sokhibjon Murodov said.
The company is undergoing a financial and operational audit, while the agency is addressing factors affecting its performance and assessing the potential impact of privatization. International organizations have already contacted the agency to inquire about the IPO timeline.
A public tender for the state’s stake in Uzbekistan GTL was scheduled for the second quarter of 2026:
https://www.spot.uz/en/2026/10/09/uzbekistan-gtl/
➖ @spotuzenglish ➖
Uzbekistan has begun preparations to privatize its 100% state-owned Uzbekistan GTL plant, with work also underway on an initial public offering (IPO), State Assets Management Agency Director Sokhibjon Murodov said.
The company is undergoing a financial and operational audit, while the agency is addressing factors affecting its performance and assessing the potential impact of privatization. International organizations have already contacted the agency to inquire about the IPO timeline.
A public tender for the state’s stake in Uzbekistan GTL was scheduled for the second quarter of 2026:
https://www.spot.uz/en/2026/10/09/uzbekistan-gtl/
➖ @spotuzenglish ➖
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“Investors will not wait”: Mirziyoyev calls for faster procedures for construction in New Tashkent
The state has invested more than $2 billion in the new city over the past three years. However, private businesses are developing just 94 hectares of land, compared with more than 1,000 hectares covered by state-commissioned projects.
Shavkat Mirziyoyev said New Tashkent should become an independent economic hub for business, education, healthcare and tourism, and warned that investors could redirect their funds to other markets if they do not receive sufficient support and guarantees:
https://www.spot.uz/en/2026/10/12/new-tashkent/
➖ @spotuzenglish ➖
The state has invested more than $2 billion in the new city over the past three years. However, private businesses are developing just 94 hectares of land, compared with more than 1,000 hectares covered by state-commissioned projects.
Shavkat Mirziyoyev said New Tashkent should become an independent economic hub for business, education, healthcare and tourism, and warned that investors could redirect their funds to other markets if they do not receive sufficient support and guarantees:
https://www.spot.uz/en/2026/10/12/new-tashkent/
➖ @spotuzenglish ➖
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“We need a lot of funding”: Uzum may issue its first eurobonds by year-end
Uzbekistan’s digital ecosystem Uzum is considering issuing its first eurobonds by the end of 2026 or early 2027 to raise funds for expanding its unsecured lending business, co-founder Nikolay Seleznev told Bloomberg TV.
Since 2025, Uzum has issued 2.1 trillion soums worth of bonds on the domestic market, becoming the country’s largest private corporate bond issuer.
The company is also considering an initial public offering (IPO) and plans to raise additional investment this year:
https://www.spot.uz/en/2026/10/12/uzum-bonds/
➖ @spotuzenglish ➖
Uzbekistan’s digital ecosystem Uzum is considering issuing its first eurobonds by the end of 2026 or early 2027 to raise funds for expanding its unsecured lending business, co-founder Nikolay Seleznev told Bloomberg TV.
Since 2025, Uzum has issued 2.1 trillion soums worth of bonds on the domestic market, becoming the country’s largest private corporate bond issuer.
The company is also considering an initial public offering (IPO) and plans to raise additional investment this year:
https://www.spot.uz/en/2026/10/12/uzum-bonds/
➖ @spotuzenglish ➖
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Yandex Uzbekistan services gradually recover after major outage
Yandex Uzbekistan is gradually restoring its services following a major outage on October 11 that disrupted taxi bookings, fare checks and public transport tracking, Director of Government Relations Sardor Qodirov said.
Most services are now operating normally, but some payment errors and delays may persist. The company is reviewing reports of incorrect charges and working to resolve outstanding issues.
Qodirov said the disruption was linked to failures in the company’s distributed computing infrastructure and apologized to users, drivers and couriers affected by the outage:
https://www.spot.uz/en/2026/10/13/yandex-restore/
➖ @spotuzenglish ➖
Yandex Uzbekistan is gradually restoring its services following a major outage on October 11 that disrupted taxi bookings, fare checks and public transport tracking, Director of Government Relations Sardor Qodirov said.
Most services are now operating normally, but some payment errors and delays may persist. The company is reviewing reports of incorrect charges and working to resolve outstanding issues.
Qodirov said the disruption was linked to failures in the company’s distributed computing infrastructure and apologized to users, drivers and couriers affected by the outage:
https://www.spot.uz/en/2026/10/13/yandex-restore/
➖ @spotuzenglish ➖
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Which Uzbek startups raised investment in September?
Seventeen startups from Uzbekistan announced 17 investment deals in September, with total disclosed funding reaching $1.635 million.
IT Park Ventures and AloqaVentures were the largest investors, while 12 funding rounds were announced at the Startup & Venture Summit during ICT Week Uzbekistan.
The largest disclosed investment went to Bito ERP, which raised $300,000 from AloqaVentures. Other recipients included ORA ($200,000), Bigmart ($200,000), UrbanDrive ($200,000), Layf ($150,000) and Blogix ($120,000).
Among other deals, education platform Luwo raised $100,000 from CS//Angels, while EmplBee secured $40,000 and UstozHub $25,000 from United Ventures.
The startups operate in sectors including AI, education, e-commerce, delivery, business software and digital services:
https://www.spot.uz/en/2026/10/13/startups-announcements/
➖ @spotuzenglish ➖
Seventeen startups from Uzbekistan announced 17 investment deals in September, with total disclosed funding reaching $1.635 million.
IT Park Ventures and AloqaVentures were the largest investors, while 12 funding rounds were announced at the Startup & Venture Summit during ICT Week Uzbekistan.
The largest disclosed investment went to Bito ERP, which raised $300,000 from AloqaVentures. Other recipients included ORA ($200,000), Bigmart ($200,000), UrbanDrive ($200,000), Layf ($150,000) and Blogix ($120,000).
Among other deals, education platform Luwo raised $100,000 from CS//Angels, while EmplBee secured $40,000 and UstozHub $25,000 from United Ventures.
The startups operate in sectors including AI, education, e-commerce, delivery, business software and digital services:
https://www.spot.uz/en/2026/10/13/startups-announcements/
➖ @spotuzenglish ➖
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Why Uzbekistan’s banks make a good first impression but fail to deliver results
Uzbekistan’s financial institutions are improving their branches, websites and digital services, but customers still face fragmented journeys when trying to open accounts or sign up for products, according to international banker Aleksei Veretenov.
The Global Customer Choice Index 2026 gave Uzbekistan’s financial market an overall score of 2.92 out of 5. The study found that weak integration between service channels, inconsistent service quality and difficulties with chat support prevent banks and fintech companies from turning customer interest into action.
Veretenov says financial institutions need to connect branches, apps, websites and call centres into a seamless system, reduce unnecessary steps and focus on helping customers complete their goals rather than simply providing service:
https://www.spot.uz/en/2026/10/13/veretenov-finance/
➖ @spotuzenglish ➖
Uzbekistan’s financial institutions are improving their branches, websites and digital services, but customers still face fragmented journeys when trying to open accounts or sign up for products, according to international banker Aleksei Veretenov.
The Global Customer Choice Index 2026 gave Uzbekistan’s financial market an overall score of 2.92 out of 5. The study found that weak integration between service channels, inconsistent service quality and difficulties with chat support prevent banks and fintech companies from turning customer interest into action.
Veretenov says financial institutions need to connect branches, apps, websites and call centres into a seamless system, reduce unnecessary steps and focus on helping customers complete their goals rather than simply providing service:
https://www.spot.uz/en/2026/10/13/veretenov-finance/
➖ @spotuzenglish ➖
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Uzbekistan proposes additional customs charges for overstated import values
Ministry of Economy and Finance has proposed additional customs payments for imported goods whose declared value is artificially inflated.
Under the draft rules, customs authorities will compare import declarations with documents from the exporting country.
If an overstatement is confirmed, customs benefits will apply only to the verified value, and the tax authorities will be notified to revoke the benefits and assess additional payments.
From 2028, contracts with customs brokers and for storing goods in customs warehouses will also be subject to registration with the Tax Committee:
https://www.spot.uz/en/2026/10/14/customs-preference-revision/
➖ @spotuzenglish ➖
Ministry of Economy and Finance has proposed additional customs payments for imported goods whose declared value is artificially inflated.
Under the draft rules, customs authorities will compare import declarations with documents from the exporting country.
If an overstatement is confirmed, customs benefits will apply only to the verified value, and the tax authorities will be notified to revoke the benefits and assess additional payments.
From 2028, contracts with customs brokers and for storing goods in customs warehouses will also be subject to registration with the Tax Committee:
https://www.spot.uz/en/2026/10/14/customs-preference-revision/
➖ @spotuzenglish ➖
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Marco Rubio to visit Samarkand with a delegation of more than 200 business leaders
US Secretary of State Marco Rubio will visit Uzbekistan and India from October 17 to 22, the US Department of State has announced. Samarkand will be the first stop on his trip.
During the visit, Rubio will attend the C5+1 summit to discuss cooperation towards a more peaceful and prosperous future. He will also meet with senior officials from all five Central Asian countries.
Rubio will be accompanied by a delegation of more than 200 US business representatives. The State Department expects the trip to usher in a new era of strengthened commercial cooperation between the United States and Central Asia:
https://www.spot.uz/en/2026/10/14/rubio-visits/
➖ @spotuzenglish ➖
US Secretary of State Marco Rubio will visit Uzbekistan and India from October 17 to 22, the US Department of State has announced. Samarkand will be the first stop on his trip.
During the visit, Rubio will attend the C5+1 summit to discuss cooperation towards a more peaceful and prosperous future. He will also meet with senior officials from all five Central Asian countries.
Rubio will be accompanied by a delegation of more than 200 US business representatives. The State Department expects the trip to usher in a new era of strengthened commercial cooperation between the United States and Central Asia:
https://www.spot.uz/en/2026/10/14/rubio-visits/
➖ @spotuzenglish ➖
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UzPost transferred to trust management despite statement by state assets agency head
Uzbekistan’s state-owned 92.9% stake in national postal operator UzPost is under trust management. The agreement was signed on December 30, 2025.
Media reports say WB Int Export, a subsidiary of Wildberries in Uzbekistan, was appointed manager for one year under a Cabinet resolution dated October 13, 2025.
However, State Assets Management Agency head Sahibjon Murodov previously said there was no trust management agreement in place:
https://www.spot.uz/en/2026/10/14/uzpost/
➖ @spotuzenglish ➖
Uzbekistan’s state-owned 92.9% stake in national postal operator UzPost is under trust management. The agreement was signed on December 30, 2025.
Media reports say WB Int Export, a subsidiary of Wildberries in Uzbekistan, was appointed manager for one year under a Cabinet resolution dated October 13, 2025.
However, State Assets Management Agency head Sahibjon Murodov previously said there was no trust management agreement in place:
https://www.spot.uz/en/2026/10/14/uzpost/
➖ @spotuzenglish ➖
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Saida Mirziyoyeva visits Turkish drone maker Baykar
Head of the Presidential Administration Saida Mirziyoyeva visited the Baykar complex, exploring its high-tech and defence industry projects.
She said Türkiye’s experience in developing national technologies could be valuable for Uzbekistan, highlighting opportunities for cooperation and technology exchange between specialists from the two countries.
Mirziyoyeva also visited Ibn Haldun University and Yenidogu School in Istanbul with Necmeddin Bilal Erdoğan to discuss education, teaching methods and opportunities to expand cooperation between educational institutions in Uzbekistan and Türkiye:
https://www.spot.uz/en/2026/10/15/turkiye/
➖ @spotuzenglish ➖
Head of the Presidential Administration Saida Mirziyoyeva visited the Baykar complex, exploring its high-tech and defence industry projects.
She said Türkiye’s experience in developing national technologies could be valuable for Uzbekistan, highlighting opportunities for cooperation and technology exchange between specialists from the two countries.
Mirziyoyeva also visited Ibn Haldun University and Yenidogu School in Istanbul with Necmeddin Bilal Erdoğan to discuss education, teaching methods and opportunities to expand cooperation between educational institutions in Uzbekistan and Türkiye:
https://www.spot.uz/en/2026/10/15/turkiye/
➖ @spotuzenglish ➖
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Uzbekistan ends Interpol search for Kakhramonjon Olimov
A notice for businessman Kakhramonjon Olimov is no longer visible on the website of the International Criminal Police Organization (Interpol).
Uzbekistan officially announced in late September that it had placed the businessman on an international wanted list. However, the website did not specify the grounds for the search.
A Red Notice had been issued for Olimov, requesting that law enforcement agencies locate him and provisionally arrest him pending extradition.
An Interpol Red Notice is not an international arrest warrant. Decisions on whether to arrest a person are made in accordance with the laws of each country:
https://www.spot.uz/en/2026/10/15/olimov/
➖ @spotuzenglish ➖
A notice for businessman Kakhramonjon Olimov is no longer visible on the website of the International Criminal Police Organization (Interpol).
Uzbekistan officially announced in late September that it had placed the businessman on an international wanted list. However, the website did not specify the grounds for the search.
A Red Notice had been issued for Olimov, requesting that law enforcement agencies locate him and provisionally arrest him pending extradition.
An Interpol Red Notice is not an international arrest warrant. Decisions on whether to arrest a person are made in accordance with the laws of each country:
https://www.spot.uz/en/2026/10/15/olimov/
➖ @spotuzenglish ➖
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Uzbekistan no longer requires advertising permits for business signs
Under a government resolution adopted on October 13, business signs displaying a company’s name and activity will no longer be classified as advertising or require an advertising placement passport.
Temporary ads at construction sites may remain until construction is completed, while advertisements for holidays and events may be displayed for up to 30 days.
Changes to cities’ design codes will require public consultation, and the codes must allow registered trademarks on signs.
Authorities must notify owners at least two days before dismantling signs or advertising structures. Dismantling is permitted only on working days between 9 am and 6 pm, in the owner’s presence:
https://www.spot.uz/en/2026/10/16/signs-easing/
➖ @spotuzenglish ➖
Under a government resolution adopted on October 13, business signs displaying a company’s name and activity will no longer be classified as advertising or require an advertising placement passport.
Temporary ads at construction sites may remain until construction is completed, while advertisements for holidays and events may be displayed for up to 30 days.
Changes to cities’ design codes will require public consultation, and the codes must allow registered trademarks on signs.
Authorities must notify owners at least two days before dismantling signs or advertising structures. Dismantling is permitted only on working days between 9 am and 6 pm, in the owner’s presence:
https://www.spot.uz/en/2026/10/16/signs-easing/
➖ @spotuzenglish ➖
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Reducing power grid losses to become a priority for energy investment — president
Uzbekistan plans to develop 22 GW of new energy capacity by 2030, increasing annual electricity generation to 129 billion kWh, Shavkat Mirziyoyev said during a meeting with energy sector investors.
Since 2016, the sector has attracted $35 billion in investment. The president said improving electricity supply and reducing grid losses would be key priorities, alongside ensuring open competition and transparent rules for new projects:
https://www.spot.uz/en/2026/10/16/energy-priorities/
➖ @spotuzenglish ➖
Uzbekistan plans to develop 22 GW of new energy capacity by 2030, increasing annual electricity generation to 129 billion kWh, Shavkat Mirziyoyev said during a meeting with energy sector investors.
Since 2016, the sector has attracted $35 billion in investment. The president said improving electricity supply and reducing grid losses would be key priorities, alongside ensuring open competition and transparent rules for new projects:
https://www.spot.uz/en/2026/10/16/energy-priorities/
➖ @spotuzenglish ➖
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Uzbekistan plans to build second and third NPPs — Mirziyoyev
Uzbekistan is preparing to build a second nuclear power plant, Shavkat Mirziyoyev said during a meeting with energy sector investors.
Talks with investors on the project are scheduled for the following day. The president also highlighted growing uranium production and investment in the sector as opportunities for developing nuclear energy.
“We are paying great attention to the development of nuclear energy, especially as our uranium production is growing significantly,” president said:
https://www.spot.uz/en/2026/10/16/npp-plans/
➖ @spotuzenglish ➖
Uzbekistan is preparing to build a second nuclear power plant, Shavkat Mirziyoyev said during a meeting with energy sector investors.
Talks with investors on the project are scheduled for the following day. The president also highlighted growing uranium production and investment in the sector as opportunities for developing nuclear energy.
“We are paying great attention to the development of nuclear energy, especially as our uranium production is growing significantly,” president said:
https://www.spot.uz/en/2026/10/16/npp-plans/
➖ @spotuzenglish ➖
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Saida Mirziyoyeva to head energy sector investors' council
Uzbekistan is establishing a Council of Investors in the fuel and energy sector, chaired by Presidential Administration head Saida Mirziyoyeva, to help resolve problems facing investors.
The council will address issues at every stage of energy projects, from land allocation to commissioning.
President Shavkat Mirziyoyev said the initiative aims to reduce bureaucracy and corruption, adding that the council’s work would remain under his direct supervision:
https://www.spot.uz/en/2026/10/16/energy-investor-council/
➖ @spotuzenglish ➖
Uzbekistan is establishing a Council of Investors in the fuel and energy sector, chaired by Presidential Administration head Saida Mirziyoyeva, to help resolve problems facing investors.
The council will address issues at every stage of energy projects, from land allocation to commissioning.
President Shavkat Mirziyoyev said the initiative aims to reduce bureaucracy and corruption, adding that the council’s work would remain under his direct supervision:
https://www.spot.uz/en/2026/10/16/energy-investor-council/
➖ @spotuzenglish ➖
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Google Pay is launching in Uzbekistan, Marcin Krasuski, Google Cloud’s director of government affairs and public policy for Central and Eastern Europe, announced on October 19.
“I am very happy to announce that today Google is launching its GPay — Google Pay — service in Uzbekistan,” he said.
In late July, Jamshid Usmanov, head of the Central Bank’s payment systems development department, told Spot that banks were working on integrating Google Pay and Apple Pay. The plan was to enable support for not only Visa and Mastercard cards but also cards issued through the national payment systems Humo and Uzcard:
https://www.spot.uz/en/2026/10/19/google-pay/
➖ @spotuzenglish ➖
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VEON to acquire Uzbekistan’s Perfectum for $207 million
VEON, which owns Beeline Uzbekistan, has agreed to acquire 100% of Rubicon Wireless, the operator of Perfectum, for approximately $207 million, including $93 million in financial debt.
The deal will give Beeline access to an additional 115 MHz of spectrum and a fully operational 5G Standalone network.
The acquisition is expected to close by the end of October, strengthening Beeline’s network capacity and expanding its 5G and wireless broadband services:
https://www.spot.uz/en/2026/10/19/perfectum/
➖ @spotuzenglish ➖
VEON, which owns Beeline Uzbekistan, has agreed to acquire 100% of Rubicon Wireless, the operator of Perfectum, for approximately $207 million, including $93 million in financial debt.
The deal will give Beeline access to an additional 115 MHz of spectrum and a fully operational 5G Standalone network.
The acquisition is expected to close by the end of October, strengthening Beeline’s network capacity and expanding its 5G and wireless broadband services:
https://www.spot.uz/en/2026/10/19/perfectum/
➖ @spotuzenglish ➖
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