Alkes Research

IFC - International Finance Corporation announced a $240 million Islamic Equity Bridge Loan financing for ACWA Power to support the development of Uzbekistan's renewable energy sector. IFC’s financing will support the construction and operation of two projects, with a cumulative capacity of a 1-gigawatt solar PV plant, a 668-megawatt Battery Energy Storage System (BESS), and approximately 500 kilometres of high-voltage transmission lines. This is expected to mark a major milestone in Uzbekistan’s clean energy transition and reduce GHG emissions by an estimated 1.3 million tons of CO2 annually. Once operational, these renewable projects are expected to generate approximately 2,400 gigawatt hours of electricity annually. #uzbekistan #renewables #energysector #greentransition #investments

This interview with Elina Hakkarainen, Wolt's International Expansion Manager, examines Uzbekistan's rapidly growing e-commerce market, Wolt's plans to stand out in a competitive environment, and its contribution to the country's digitalization and e-commerce development: #uzbekistan #ecommerce #delivery #foodtech #development #interview

The Diplomat: Cooperation between Uzbekistan and Tajikistan in the field of transport and transit should be considered within the paradigm of intensifying regional interaction. In 2018, the Central Asian countries, at the highest levels, actualized the issue of rapprochement of their transport and communication systems in order to expand the transit potential of the region. Cooperation between Uzbekistan and Tajikistan in the field of transport and transit should be considered within the paradigm of intensifying regional interaction. In 2018, the Central Asian countries, at the highest levels, actualized the issue of rapprochement of their transport and communication systems in order to expand the transit potential of the region. The volumes of bilateral cargo transportation are even more impressive. From 2016 to 2023, this figure increased 25 times on rail and two times on road transport, which in total exceeded 9 million tons. However, this figure does not reflect the true potential of the two countries, given their high rates of demographic and economic growth. One effective solution to the problem of investment deficits in the transport sectors of Uzbekistan and Tajikistan could be their joint integration into international transport corridors. This will contribute to increasing their transit potential and bring in solid income. #uzbekistan #tajikistan #centralasia #cooperation #growth #transport #connectivity #logistics #invest #economy #development

 For the last several years, Uzbekistan has made immense efforts on both the private as well as the political fronts to overcome the challenges and the associated reputation. Since 2017 the government has embarked on a reform agenda that accomplished positive developments in all areas of society, politics and the economy, and prominently also in the cotton and textile sector. The country has a century long cotton growing tradition, as of today it is still one of the world’s 10 largest cotton producers. The sector offers many opportunities for sustainable change: socially it can provide decent jobs for the immense labour force of Central Asia’s most populated country, most of which will target women; environmentally, climate change adaptation and the promotion of sustainable production methods are alternatives to conventional cotton growing with large inputs of chemicals and water; economically, long-lasting business relations to markets with higher sustainability requirements provide the fundament to implement socially and environmentally sound practices. With the reforms, the sector liberalised from a state monopoly to private enterprises that are open for socially and environmentally sustainable approaches, naming drip irrigation and the introduction of Better Cotton and organic cotton production among many more examples. The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ) assists the reform process by implementing the project “Sustainability and Value Added in Agricultural Supply Chains. Cotton in Uzbekistan“ as part of a global project working on several agricultural supply chains in several countries. By working closely together with the private sector to increase sustainability, the project caters to the needs of the economy by conducting activities and capacity development whilst promoting social, environmental, and economic sustainability along the whole supply chain. This report presents the most recent update on the sector, nurtured from up-to-date data collected from several interviews conducted with stakeholders from the Uzbek and international industry, the public sector, and individual actors. #uzbekistan #cotton #textile #apparel #development #sustainability #supplychain #growth #report

Eurasianet: Uzbekistan presses ahead with effort to gain World Trade Organization membership. At an October 10 meeting to discuss the membership drive, President Shavkat Mirziyoyev noted some progress had been made toward harmonizing standards, but he emphasized “much work remains ahead of us,” if the country wants to meet the 2026 target. #uzbekistan #wto #membership #progress #economy #development

TBC Capital has released a report on Uzbekistan, focusing on the Uzbek som. The report provides an overview of the local currency's trends and developments. #uzbekistan #macro #economic #currency #fx #report

One of the major destinations of Uzbekistan, Tashkent is the country's new-age capital and also a part of the famous Silk Route. The metropolis is identified for its remarkable highrises beautifully interspersed with historical monuments. Some of the prominent examples of Islamic architecture can be found in this city. It’s known for its many museums and its mix of modern and Soviet-era architecture. The Amir Timur Museum houses manuscripts, weapons and other relics from the Timurid dynasty. Nearby, the huge State Museum of History of Uzbekistan has centuries-old Buddhist artifacts. The city’s skyline is distinguished by Tashkent Tower, which offers city views from its observation deck. Places to visit : Minor Mosque, Hazrati Imam complex, Amir Temur Square, Chorsu Bazaar, Mustaqillik Maydoni, Tashkent Chimes, Holy Assumption Cathedral Church, Tashkent Tower, Magic City Park, and many more. Captivating video showcasing the sights of the capital of Uzbekistan: #uzbekistan #tashkent #capital #welcome

The automotive market in Uzbekistan is undergoing significant transformations. In recent years, the country has shown steady growth in the production and import volumes of passenger vehicles while actively developing new projects in electric vehicle manufacturing. Analysis conducted by KPMG Uzbekistan confirms that from 2020 to 2024, Uzbekistan's market has demonstrated substantial growth. In 2023, a total of 456,000 vehicles were sold, with 380,000 produced domestically. Import volumes of passenger cars have also increased, more than doubling over the past year compared to 2022, reaching 73,000 units. Additionally, the online car trading market has seen active development, with new platforms for purchasing vehicles emerging, such as Uzum Auto and Alif Uzbekistan. The growth of the automotive sector in Uzbekistan can be attributed to several factors, including rising household incomes, improved infrastructure, and increased government support for the automotive industry. The spread of electric vehicles and the implementation of green technologies are also becoming significant contributors. This trend suggests that the automotive industry is poised for further growth in the coming years. #uzbekistan #automarket #automotive #industry #growth #kpmg #report

A special duty-free trade zone is set to be established in the border area between Uzbekistan and Kazakhstan, modeled after the "Khorgos" trade and economic zone. This initiative is expected to quadruple trade turnover between the regions. #uzbekistan #kazakhstan #partnership #tradezone

Chinese investors will organize a special industrial zone in Uzbekistan for $200 million. #uzbekistan #china #cooperation #industrialpark #investments